I am currently diving into the Real Estate Investors market in New Orleans. I spent some time in New orleans very recently and what I saw disturbed me very much. I had no idea the city was sitting in almost the same state as she was days after the storm.
Curiosity drove me to do more research and to spend time talking to the locals.
what I came away with is this...
The Government has gone beyond dropping the ball in New Orleans. (Thanks Spike, you showed a sliver of the truth).
A great amount of the people want to come back to the city that they love.
The idiots that do have property there are charging rates that will send them to Hell on a special boat.
There ARE more than a few who do not want to come back, ever.
Logic tells me that it is time for those of us who know how to move in, buy the unwanted property, do the rehab and get people places to live.
I am not talking about monopolizing off of agony. I am NOT talking about "stealing property" out from under unsuspecting homeowners.
I am talking about doing something that can benefit the communities and make you an income at the same time (no, not RICH overnight).
We KNOW they are NOT going to forget New Orleans.
They are also under a great deal of scrutiny and many eyes are upon them, this time around. The levees will be rebuilt and they will be much stronger.
There are a great deal of homeowners who DO want to leave, they have collected a good percentage of their equity from the insurance company and they just want to go.
Give them the 20% the insurance company lacked and they are blissful. Do the rehab, put people in at REASONABLE rates.
Everyone wins.
Anyone interested in buying properties there, I will be ON THE GROUND and SERIOUSLY IN THE STREET. Shoot me an email and I will put you on the mailing list.
I am also in search of Conventional lenders who are STILL lending in and around New Orleans.
Kimberly Jones
mgtmdm@gmail.com