5 out of 5 stars
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5 out of 5
Burn Zones is an excellent book that deals with not only surviving a major financial disaster but reemerging a stronger successful person. Jorge seemed to excel at everything he touched. He started by saving his money from delivering papers. Then he bought an old ice cream cart and remodeled it into a money maker for him. This gave him the money to develop a record company. He rented a theater and set up a stage where he could attract recording artists. After this venture he became interested in bicycle racing. He trained tirelessly to become a winner in several major races.
Although he never finished high school after his bicycle racing he decided to become a loan officer. He found that he could be a success at this and he worked his way up the ladder. After his success as a loan officer he moved into the purchase of rental property. Soon he found himself to be the manager of large apartment complexes that he had purchased. He purchased the Ford Hotel that had almost 300 units and was located in Los Angeles. Although four previous owners had been jailed for slum violations at this hotel he was able to revive it and bring it to profitability. After success with other hotels he decided to buy Woodland Meadows an 1100 unit apartment complex in Columbus Ohio. He was millions of dollars in debt when an ice storm struck and caused extensive damage to his property. His world began crumbling around him as the city officials were against him. His insurance was not enough to cover the losses and he began to fall behind in payments on this property and then on the rest of his property as well. After being worth many millions he found himself once again without money and having to start over.
His struggles against the odds that seem to be stacked against him can be an encouragement to others as they struggle with their own obstacles. He had developed a plan that worked with other properties by moving into the hotel to be renovated or the apartment complex that needed to be upgraded. This had served him well in the past but he later found that the city officials in Columbus Ohio had been against him from the beginning.
What to do now was a major problem for him. He found that no one wanted to work with a loser. He managed to avoid bankruptcy but with a bruised ego he struggled to survive. His salvation was the formation of a group that would help other people stay in their homes when they were being swamped with financial difficulties. Many people found themselves in this situation in 2008 when their home values dropped drastically and became much less than the principle of the loan that they owed. So he formed a new company American Homeowner Preservation. He was able to make money for himself while he at the same time was able to reduce the loan payments of others.
Since we all undergo difficulties this book is an inspiration to others as they struggle with their own difficulties.
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