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Freshman fashion designer’s plan for distressed real estate nets $5K

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Cindy Clinton, a freshman fashion design student at Parsons The New School for Design in New York City, has a fix for the foreclosure crisis.And it's already proven profitable -- to the tune of $5,000 she won in a contest for her 2,000-word essay describing her proposal. Given the opportunity to invest $150,000 in the distressed housing market, Clinton said she would focus on the rental market. She laid out her plan with an executive summary, market analysis, implementation, assumptions and closing statement, and it was selected as the top essay among 10,000 submissions.Clinton described how she would use the hypothetical $150,000 investment to convert some distressed Miami-area homes into rentals."I wanted to focus on something that would allow me to have a huge return on investment for a long period of time," Clinton told She said she thought about coming up with a plan to buy and flip homes, but instead settled on a plan to build a portfo...