The Best Ever CRE Show JF 3875: Foreclosure Opportunities, Scaling with Culture, and Chicago CRE Lessons ft. Joe Root
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Apr 14, 2025 Joe Root, co-founder of East Superior Real Estate Partners, brings 40 years of Chicago real estate experience to the discussion. He explains how receivership reports can uncover valuable distressed property opportunities. Root shares a near-collapsed deal from the 2006 financial crisis and highlights the shift towards lighter value-add projects. He reveals strategic plans for scaling into other Midwest markets by leveraging a strong internal culture and key performance indicators with regional asset managers. Tune in for invaluable insights into navigating today's real estate landscape!
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Receivership Opportunities
- Managing third-party receivership properties offers opportunities to learn about distressed properties and potentially acquire them.
- Analyzing receivership reports provides valuable insights into property conditions, issues, and valuations.
Accessing Receiver Reports
- Track receivership cases and access receiver reports for a competitive advantage in distressed property acquisitions.
- Look up court filings, contact attorneys, or utilize data sources like ILFLS to track cases and find receiver reports.
REO vs. Auction
- Lenders are more motivated to sell distressed properties at auction to avoid ownership.
- Once a property goes into REO, asset managers may try to increase the price before selling.