Seeing Profit Where Others See Desolation
Chuck Huckaby wrote:
While the rest of the country sees desolation in the wake of Katrina, some see a money making opportunity unfolding before their eyes according to the LA Times and Yahoo.
Brandy Farris is house hunting in New Orleans.The real estate agent has $10 million in the bank, wired by an investor who has instructed her to scoop up houses — any houses. “Flooding no problem,” Farris’ newspaper ads advise.
Her backer is a Miami businessman who specializes in buying storm-ravaged property at a deep discount, something that has paid dividends in hurricane-prone Florida.
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