New flash! Lots of people have endured a lot of pain, and many are still working their way out, as a result of the collapse of the financial markets three years ago. Hopefully by now most people realize that the disruptions of capital flow affect EVERYONE, and especially those nearest the epicenter of the meltdown. Among those near ground zero are real estate investors.
But isn’t this old news?
Not really. Sure, everyone knows about all the problems. But what about the solutions – and the lessons! If you have plans to become a big time real estate mogul, you’re probably going to be signing on the dotted line for some really BIG loans. Before you do that, wouldn’t it be nice to have the voice of experience ringing in your ears?
The Real Estate Guys™ are on location in sunny San Diego to get some sage advice from a gray haired veteran of the loan wars.
Behind the microphones for another odyssey into broadcast excellence:
- Your host, the wise and wonderful, Robert Helms
- Co-Host, wondering what’s happening, Russell Gray
- Special guest, commercial loan workout expert, Phil Jemmett
A few episodes back we visited with Malcolm Davies, a real estate developer who syndicated a development project, then had the bank shut the money off right in the middle. It was a great human interest story, full of great lessons from the borrower’s perspective. If you’ve heard the show, you know that it became a “David vs. Goliath” battle and it wasn’t going well for Malcolm.
But that’s where Phil Jemmett and his team stepped in and turned the tables. So we thought it would be interesting to track down Phil and get his perspectives and advice on what to do when faced with an unsustainable commercial loan. He shares how he and his team identify and target three key leverage points when negotiating with the lender. Even if you never do a multi-million dollar deal, there are great lessons to be gleaned from this episode. So listen in as The Real Estate Guy™ talk commercial loan workout strategies with Phil Jemmett.
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The Real Estate Guys™ Radio Show provides real estate investing news, education, training and resources to helps real estate investors succeed.