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220: Crisis=Opportunity for Real Estate Entrepreneurs!

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Entrepreneurs are just professional problem solvers who keep score by how much money they make. I know this because I am an entrepreneur at my very core. It’s not a choice I made, it’s the way I was born.

Entrepreneurship is not usually glamorous as frequently depicted in the movies or on reality shows. Most of us have more failures than we have successes and the failures often create profoundly negative effects for the people around us. It can be a bit of a curse.

But the high that an entrepreneur gets when identifying a problem and finding a solution is very strong. Being able to look at an inefficiency and realizing that it can be fixed by creating a business around it is exhilarating.

And when is the best time to find inefficiencies in a business model?… When times are bad! 

You see, when times are good, profitable businesses usually leave way too much meat on the bone because they are already fat and happy. Few people look at ways of doing things better when they are already making a good profit.

Only when the tide goes out do you discover who’s been swimming naked. Profits get tight and businesses have to rely on becoming more efficient to survive. This is the perfect setting for the entrepreneurial mind who sees opportunity where others see crisis.

My friend Jorge Newbery is the purest entrepreneur that I know. He is, of course, the founder of AHP Servicing and Debt Cleanse. He has been on Wealth Formula Podcast several times before.

This week, we are going to talk about his latest business that stems from the embargo on foreclosures note holders are now facing in many states—specifically those who are trying to foreclose on vacant property.

In usual Jorge style, it’s an elegant solution where everyone wins. The good news is that there is an opportunity for you to participate and get your own feet wet as an entrepreneur.

Don’t miss this week’s episode of Wealth Formula Podcast as Jorge and I discuss the business he calls Pre-REO.


Jorge Newbery is the Chairman and founder of American Homeowner Preservation, LLC, or “AHP.” Jorge was the President of Budget Real Estate Inc. from 1995 to 2008, where he brokered over 1,000 troubled Department of Housing and Urban Development and real estate owned properties and acquired, renovated and operated over 200 distressed multi-family, single-family and commercial properties. Prior to that, Jorge was the co-founder of Sunset Mortgage from 1992 to 1995.

Barry is Vice President where he is part of the company’s Executive Committee and leadership team focusing on preREO and REO. Barry brings over 29 years of mortgage servicing and sales experience with a history of providing technology solutions that enable operators to perform at their peak. Barry was previously Vice President of Exceleras LLC and Senior Vice President of Business Development for OrangeGrid Empowering people in progress.

Shownotes:

  • What happens when a person defaults on a loan?
  • How does Pre-REO turn dead money assets into monetized assets?
  • Jorge talks about how people can use Pre-REO to acquire properties at a huge discount.
  • Learn more abour PreREO: prereo.com
  • (800) 555-1055