131: How to Partner on preREOs Direct from Lenders with Jorge Newberry

<p>In 2008, Jorge P. Newbery founded American Homeowner Preservation to buy distressed mortgages at discounts and offer struggling families sustainable solutions to stay in their homes. However, when the homes backing the mortgages were vacant, he recognized that lenders frequently struggled as they tried to limit their losses.<br> <br> In 2020, Jorge founded preREO™ to get these vacant properties into the hands of local investors during the foreclosure process which mitigates losses to lenders and accelerates returns for investors, a win-win.</p> <p><br></p> <p>(00:00 - 5:06) Opening Segment &nbsp;</p> <p>- Introduction of the host into the show&nbsp;</p> <p>- Alpesh introduces the guest of the show, Jorge &nbsp;</p> <p>- Jorge shares something interesting about himself &nbsp;&nbsp;</p> <p><br></p> <p>(5:06 - 32:19) How to Partner on preREOs Direct from Lenders &nbsp;</p> <p>- How Jorge started working and grew his portfolio &nbsp;</p> <p>- What is an REO &nbsp;</p> <p>- Why Jorge entered preREO deals &nbsp;</p> <p>- Process of acquiring a preREO and clarifications &nbsp;</p> <p>- How a newbie investor should perform due diligence &nbsp;</p> <p>- What's the typical BPO of a preREO property &nbsp;</p> <p>- Pitfalls to avoid while acquiring preREO property &nbsp;</p> <p>- Knowing which properties are non-vacant on preREO &nbsp;</p> <p>- When the interest payment starts &nbsp;</p> <p>- States that are better or worse for preREO &nbsp;</p> <p>- What Jorge is seeing that most people are not &nbsp;&nbsp;</p> <p><br></p> <p>(32:19 - 32:37) Break &nbsp;&nbsp;</p> <p><br></p> <p>(32:37 - 32:50) Second Segment &nbsp;</p> <p>- Welcoming listeners and guest back to the show &nbsp;&nbsp;</p> <p><br></p> <p>(32:50 - 37:28) Fire Round &nbsp;</p> <p>- Will Jorge change the business strategy after Coronavirus? &nbsp;</p> <p>– Jorge’s favorite real estate, finance, or other related books &nbsp;</p> <p>– Tool or website Jorge recommends &nbsp;</p> <p>– Jorge’s advice to beginner investors &nbsp;</p> <p>– How does Jorge give back?