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Great minds think alike......
The only problem I see, and it is a huge one, is the FEMA 50% rule. If more than 50% of the property is damaged by casualty, the entire property must be rebuilt to current codes. Rebuilding to current building codes is generally not that big a deal but raising the elevation of the property to above the flood plain line will be. This is a national requirement. I don't see anyway around it. That is why when barrier island homes are destroyed they get rebuilt on pilings/piers. Not because people want to but because they have to.
I honestly wonder if NO will ever even be rebuilt. There will be plenty of property that you will be able to buy for pennies on the dollar but will it ever amount to anything. As a real estate guy I would say there are better places to put your money where the return might be reasonably predictable. I hate carpetbaggers. I was raised to not take advantage of others misfortunes. BTW, I bought property in Charlotte county after Hurricane Charley, but I am developing it, and helping to improve the town by employing people and rebuilding the town.
I just read in one of my RE magazines that Trump had bought a couple of acres in downtown NO and planned on building a big condo/retail complex. Wonder how that's going to work out now?
Another case of Hurricane Amnesia.
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I am just a simple man trying to make my way in the universe...
"Go confidently in the direction of your dreams. Live the life you have imagined." - Thoreau
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