does flipping houses in neworleans worth it?

Answer 1

Do not buy a home or rental in New Orleans. This is a very bad market. You may be able to buy cheap but you will have a hard time flipping and making a profit. Anyone who is buying there now wants dirt cheap so who will buy from you for a higher price?
The city is going to take a decade or more to recover from the desvistation. If you can not hang onto this property at least that long dont buy it.
Many people do not want to move back because of FEAR. Will this happen again? And the people that are still there are living in poverty and can not afford to buy a home right now.

The Real Estate market around the US is leveling off and it is getting harder to flip homes. Prices are slightly down and sitting on the market much longer. People are not buying second homes and rentals for investments and they are dumping the ones they bought in the last two years. And to make matters worse, New Orleans is a real bad Real Estate market and it will be for some time.

Answer 2

I could never manage to pick one up to flip it. lol Just kidding.

But no. Most of the houses were totally destroyed and to rebuild or remodel would cost too much. You'd never get your investment back, for the short term. Long term, should you be able to afford holding on to it until you get the asking price, might be, but I have my doubts about the short term.
Of course, the farther inland in you go the less damage, so it could very well depend on 'where' the house is.

Answer 3

No. Not only is it a hard place to try and get people to move to right now, but the real estate market right now is in bad shape as well.

Answer 4

It might depend on how long you can keep the house. "Buy Low - Sell High" is dependent upon buying low. That part can probably be done in New Orleans right now. Eventually, the prices will go up....