The Distressed Game You’re Not Playing — But Should Be
Jacobs P.C.
Distressed real estate isn’t a crisis. It’s a competition.
And in this market, the winners aren’t the ones with the most capital — they’re the ones with the best strategy.
In this no-holds-barred episode of Confronting the Impossible, Leo Jacobs sits down with real estate investor and capital connector Eric Brody to reveal what’s really happening inside the world of distressed asset investment — and why most investors are missing the point.
Buying Notes Isn’t Buying Real Estate
“You're not buying property — you're buying litigation.”
Most note buyers think they’re getting a shortcut to equity. But as Leo and Eric explain, distressed asset purchases come with tax liens, mezz debt, deed restrictions, unpaid vendors, and stalled permits — not to mention lawyers who know how to build leverage and drag it out.
What you’re buying is a timeline, not a building.
Restructuring Takes Time — Are You Ready?
- Due diligence on clean deals? 90 days.
- Restructuring distressed assets? 9–36 months — minimum.
Most capital providers don’t realize the wait time. Meanwhile, they’re borrowing at high rates, hoping to flip a foreclosure.
Leo calls it what it is:
“You bought the litigation. You bought the pain.”
The Corporate Poison Pill
One of the boldest takeaways in this episode is the introduction of the Corporate Poison Pill — a strategy to protect guarantors and restructure ownership before it’s too late.
In the spotlight: Charles Cohen — clipped for $187M in personal guarantees.
“He had the equity. He had the network. What he didn’t have was the strategy — and he waited too long.”
Your Lender Might Be Broke Too
Eric flips the script: many of the same credit funds aggressively pursuing borrowers are also borrowers — buried in their own intercreditor disputes, undercollateralized notes, and bad deals.
“Just because they lend money doesn’t mean they’re not bleeding.”
Psychology, Ego & Poor Decisions
The most devastating part of distress? The human factor.
“Discomfort leads to poor decisions. And in this market, that’s the costliest mistake of all.”
Eric and Leo dissect how fear, pride, and denial destroy opportunities — and how elite operators are keeping a cool head, creating leverage, and playing the long game.
🎧 Watch the full episode now for a front-row seat to how the smartest investors navigate chaos — and come out stronger.
Because success isn’t about avoiding distress.
It’s about knowing what to do when it shows up.
PODCAST - Confronting the Impossible with Leo Jacobs.
Leo Jacobs, Founder and CEO of Jacobs PC
Known for finding creative, expedient solutions to complex and high-profile cases, Leo excels in matters including distressed investment and asset management, real estate law, corporate law, dispute resolution, business divorces, negotiation, and more. Leo’s extensive expertise in debt and equity structures enables him to employ a full spectrum of legal tools to achieve swift, optimal results for clients. His practice, Jacobs P.C., bridges commercial litigation, corporate transactions, and financial rehabilitation, handling cases across federal, state, and bankruptcy courts, as well as administrative tribunals.
If you would like to join the podcast email requests to pr@jacobspc.com
