I suppose some are, but most homes were so damaged that there is nothing left to flip. Katrina did the flipping for them. Most home owners are still waiting for the insurance companies to pay for the repairs.
My guess is that once the repairs are made, some home owners will move, selling their homes at a lower price, making them a good investment to flip.
Quote:
Originally Posted by New_Yorker
Anyone taking advantage of foreclosed homes in N.O.?
Seems like there would be good opportunities to buy damaged homes at a huge discount, fix them, then sell them off at nice profit.
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Any flipping going on in N.O. ?
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