The Real Deal Miami

Foreclosure economy: After the gold rush

August 19, 2008 11:17AM

One homeowner’s pain may be another businessman’s gain. In the wake of the housing collapse that’s mired South Florida in economic misery, nimble business owners and professionals are looking to build empires out of the rubble of the housing meltdown, from landscapers who have become foreclosure property managers for lenders to attorneys making small fortunes suing developers on behalf of investors. Bargain hunters have also come out of the woodwork, says investor David Dinkel, whose Broward Real Estate Investors Association has seen membership double to 500 over the last six months as interest in buying distressed properties has soared.