So who benefits the most from the real estate bust? What is the next hot profession to replace something like real estate for the next few years? Any thoughts on this? Debt counselor?
When I first moved to Irvine in 1993, I worked at a company called TD Service Financial during the summer. They bought defaulted mortgages from banks and handled the whole process of kicking out the residents, refurbishing, and selling. That business had pretty explosive growth back then (not dissimilar times to now). I think it was sold to a larger financial institution, not sure which.
<p> Yep, my buddie just started a small company like that. I've become a silent investor in his company and he seems to be making decent money nowadays.</p>