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The Best Ever CRE Show

JF2294: How to Buy PreREOs With Jorge Newbery #SkillsetSunday

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 13 December 2020

⏱️ 23 minutes

🧾️ Download transcript

Summary

Jorge is a returned guest who was previously on episode JF1342. Jorge owned about 4000 apartments across the country and a natural disaster happened and caused him to lose everything he had and put him millions of dollars in debt. Then in 2008 when he saw that many Americans were losing their homes he decided to create a company that could help them by buying mortgages from banks in pools. Today he will share what a PreREO is and why he focuses on this. Jorge Newbery Real Estate Background: CEO of preREO LLC, AHP servicing LLC, and a partner in Activist Legal LLP 30 years of real estate experience A previous guest on episode JF1342 Portfolio consist of 10,000 purchased defaulted mortgages, owned 4,000+ multifamily units, and brokered thousands of properties Based in Chicago, IL Say hi to him at: www.preREO.com      Click here for more info on groundbreaker.co  Best Ever Tweet: “Local investors have advantages because they can see the work that is needed and typically have a local team they know and trust” - Jorge Newbery Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:05.0

It's going to be months, if not years in some cases, so it does make sense to a point of

1:08.5

receiver and the passage of time, which is usually negatively impacts the returns of a mortgage holder.

1:14.0

Using pre-REO, where you're generating rent during the term of the foreclosure,

1:19.6

the passage of time is no longer a negative drag on your returns.

1:23.2

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They help you increase productivity

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