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Resource ID: #20017
Source:Wall Street Journal (New York)
The Journals tells the story of Rene Campos, Adam Weis and Greg Smith, who were will to gamble with real estate property after Texas savings-and-loan crisis. The three bought properties from the Resolution Trust Company, "the federal agency created to clean up the mess," fixed them and started profiting from the cheap undervalued property. The profit did not come from speculative "flipping," but from clearing and managing the properties.
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