I am a Texas realtor but I have started working with a real estate investor who is very active in the New Orleans market, identifying and buying flooded properties to rehab.

Contrary to what people believe, there were a lot of nice homes danaged by Katrina, not just the little shacks you see on the news and in photos. Some of the houes were $300k+ pre-Katrina value.

These folks are very motivated and most of them just want to get on with their lives. We are contacting as many as we can, but we know of literally hundreds of sellers who want to unload their homes. Some of them have been gutted, but some are still sitting as they were last August.

If you're willing to expand your investment area and your comfort zone, there seems to be a huge opportunity for profit in this market and we're just starting to see the potential.

You can email me for more info if you would like. We've done a lot of research on the area.