The CEO and President of Greenfield Partners, Eugene Gorab has been in the real estate investment space since the early 1990s. Eugene Gorab has completed over two billion dollars of successful investments, much of which was in distressed mortgage acquisitions through the Resolution Trust Corporation.
Distressed mortgages can be a tricky proposition for investors who are unfamiliar with the specifics involved but they can also be a great investment with the right approach. Distressed property mortgages can be purchased at prices far below market value, and through smart collateralization and due diligence, they can create a significant return. Getting value from them, however, is a challenge. Investors need to have extensive experience in refinancing, loan modification, and deficiency judgments and be able to use all those effects. The primary risk is a weak real estate market in cases where foreclosure is necessary. Taking over the property in a weak market that ends up being sold quickly cuts into returns. Therefore, the key takeaway is to have a strong grasp of the real estate market and learn how to hold or let go of properties to mitigate any financial risks.
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AuthorCurrently, Eugene Gorab serves as the President and Chief Executive Officer of Greenfield Partners, LLC, a company he founded in 1997. Archives
May 2022
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