I Funded Over $9 BILLION and 40,000 UNITS | Ep. 443

today's episode has been 3 years in the making this man doesn't know it but the number of requests that have poured in for us to interview him he is the number one mortgage loan originator in the country not top 1% number one so if you sell homes for a living if you're looking to buy a house or you yourself are a mortgage loan originator you're going to want to tune in and hear what we have to say [Music] ladies and gentlemen boys and girls children 18 plus you are tuned in to the lone officer podcast with me Dustin owan and a very special guest this dude is in Las Vegas Nevada because he is speaking at Mastermind Summit 2024 he is the number one mortgage loan originator in the country 8 years running he hails from Massachusetts he is the biggest Patriot Celtics and Red Sox fan that you can meet he is my new friend shant bonian shant welcome to the lone offer podcast thanks man happy to be here that was the the best introduction I've ever gotten in my life I'm I'm honored and a little a little uh I don't know that was amazing my my goal is like it's a little bit WWE a little bit UFC but I know you're a dad of three daughters so maybe it's a little bit Swifty too I don't know I'm a Swifty now I've been a Swifty now for about a year dude I started following you on social um a couple years ago because true story and I told you this off camera that you know we started this podcast four years ago and you know four years ago I was doing the podcast because I wanted to have some fun I wanted to teach the they don't teach us in school basically all the things that you and I learned as being loan Originators and all the stuff that we teach yeah from our craft but as we grew a fan base my fans were like dude do you need to get so and so on the podcast you need to get so and so on the podcast and at first I was like who is this dude I can't even pronounce his name then I looked you up I'm like damn okay I do need to get this dude on the podcast but what's rare about us is we only record in person yeah and you're in Massachusetts I'm in Florida so I'm grateful that I noticed that you're speaking at this event I'm like yes we're going to be at the event too let's rock and roll well I'm happy to be here uh you know it's funny somebody sent me I think your podcast a few times be like hey they were talking about you on here uh so I'm I'm looking forward to it I think I can already tell uh we have a lot of stuff in common I'm actually pretty passionate about like in my next uh my next phase of my career I'm definitely going to get all in on like educating kids like whether it's high school kids college kids whatever all the stuff that they should really know uh financial literacy like so important like the stuff that they don't learn that they should learn uh that I've learned throughout the course of the last 2 years have you checked out what Dave Savage and Kristen are doing over at first home IQ yeah that that is right up my alley as well um I I don't know you well enough to know your background I'm going to interview you so I'm going to check out your background but my background was one that we didn't talk about certain things in the household and I made a point as a parent to talk about it um and I'm curious your background did you come from um a a family that was into housing into real estate like how did you find yourself as a mortgage loan originator yeah great question you know um so you know my story is uh my parents both immigrated to this country in the 1970s from where from my uh we're Armenian so my my mother uh immigrated here from Lebanon my dad immigrated here from Iraq okay they met here um in uh right outside Boston in Watertown actually where I grew up where is a huge Armenian population and um you know they had to make a life for themselves and um I remember you know I actually didn't uh learn how to speak English till I was about four years old I was going to ask you do you speak Arabic uh Armenian Armenian okay yeah my parents actually speak Arabic and Armenian uh I only speak Armenian and English uh but um you know they came to this country and I remember at a very early age two things one uh they were always is like confident in real estate uh proud of their real estate holdings um and also like just kind of knowing that that was like a thing that they always talked about is like ah just buy real estate just buy real estate like it always works they weren't into the stock market or Investments like they didn't trust that and they still don't to this day for the you know but uh to them like real estate was a big deal and it was a way which they kind of created life and created wealth for themselves um and so at a very early age it was something that I was totally interested like I remember looking at the Boston Globe as a kid and like only looking at um the sports section and then looking at the real estate section and like that's like that is a very early memory like looking at that stuff so it's always something that piqu my interest um and I kind of you know what's funny is like I didn't get out of college thinking that I was going to be a mortgage loan officer right like I kind of fell into it by accident but um like we most most of us do right yeah totally but like I immediately upon starting like I knew I loved it uh and I knew I was good at it like like from day one like I loved it and I was like it's funny like how you just kind of end up fall it I was like this is for me yeah I call it being bitten by the bug yeah you know because I've I've onboarded and trained tens 20 30 rookie loan Originators right like dozens and you can tell early on those that get bitten by the bug versus those that don't because it's not necessarily an easy and always fun career but if you get bitten then you found it's your career and it sounds like early on you were you were bitten like it was for you you know and like you know it's funny is like I started in 2020 I'm sorry 2003 and in 2007 like the world kind of collapsed around us and like I didn't really like everybody was telling me to get out of the business go somewhere else like the thought of like leaving the mortgage business like of course there was moments of Doubt but like I again I liked it I knew I was good at it and I just had like this confidence that like it wasn't going to disappear like the housing market wasn't going anywhere I knew it was going to be hard so I decided to stay in and go all in at that point in 2008 like I opened up effectively my own business and um and it's the best thing I ever did yeah so um we were talking offline because I'm proud like I'm super proud like hey my region last month funded 60 million you're like yeah we did 110 yeah I was like yeah that was my personal production team that's your personal production correct yeah this isn't a branch this isn't a company this isn't a region no no this is your personal branch that you run out of Watertown Massachusetts out of walam I grew up in Watertown I live in the town right next door in walam actually so they're like bordering communities actually went to college in walam at Bentley um and so I opened up my office there cuz that's like where like my community is right and so um and I live in the town over so uh yeah we did 110 million uh that's me and my team uh and we crushed it you know what um going back to the early year so you get into 03 did you do anything prior to mortgage no well I had like a I graduated from college in 2002 okay I had like a position as a property manager uh working like it was like my first job it was like the you know I didn't know what I wanted to do so I just like took the first offer um and uh I I actually quit that because I thought I was going to be an attorney so I quit my job started studying for law school and it was during that time uh that I ran into a buddy of mine that was in the mortgage business and he was telling me how great it was um and I wasn't working I I was actually working as a door guy at a bar in Boston and uh and my one of my best friends is the bartender and that was like our stick right and like um so I didn't have a job it sounded fun it was 2003 the housing market was hot you know it was like I thought I could actually in my mind I was like maybe I can go be study student student studying for law school and do this like parttime make some dough pay for my college and then again I I got started in 2003 at a uh what was at the time I didn't know it was like a subprime mortgage company called Champion mortgage and it was awesome it was like the the best place that somebody could get trained in the mortgage business like there was an actual training program they taught us how to sell our value how to communicate our value they taught us how to work how to hold ourselves accountable like it was an amazing with a great culture and then unfortunately it didn't survive uh past I was actually one of the last technical employees of that what was yeah say like like many companies 07 I mean I was in 2007 2008 I think I worked at three different mortgage companies and it wasn't by choice yeah yeah so it didn't make it you know and and I like I said I had a decision to make so I decided to stay in the business and I convinced a mortgage company out of New Jersey actually uh to allow me to open up a branch in Massachusetts but their condition because things were so bad was like look you know you're a subprime guy like you don't know anything about this side of the business they're like you got to work out in New Jersey for 3 months before we let you open up this Branch so I was like okay so I would literally like get in a car on Monday mornings or Sunday nights and I would drive to New Jersey there was this website I don't even know if it's still around priceline.com yes I'd go on Priceline and I'd put in a bid for like a hotel room and I'd put my bid in I'd see what accepted in and that would be my where I'd live for the week and I did that for three months and then they were like all right you you're going to you know what you're doing well let you do it and we opened up our Branch um literally uh you know L is that your same Branch we've moved a couple times just cuz we've grown so much was that Guaranteed Rate though well it was company called Superior mortgage at guaranteed end acquiring so that's how I ended up at gr yeah because you've been at gr forever now pretty much I mean technically I've worked for the same company really this whole time so I was going to ask you questions about what it was like 03 through 07 but I think the audience would prefer that 08 time frame for sure if you go back and and you remember 08 0910 what were those years like what are some things that you did that you can now at this level in your career look back and say because I did X I am where I am and then the second part of that is but I did Y and I'll make sure I never do why again yeah uh you know I can answer those questions uh really easily because I've been thinking about it actually on the way here little Nostalgia coming back to Mastermind so um you know with 200 uh 2008 the best thing that ever happened to me was 2008 because it required you know everybody was getting out of the business and everybody was their their mindset was like so off like everybody just focused on what products they were losing what companies were going out of business how hard the business was and I was like new to that side of the business like you know what I did before I was like a lendingtree.com like consumer like direct loan officer I wasn't yeah call center more than than uh going out and S generating your own leads only call center and only refinance okay so you know now I was like all right I'm going to be a loan officer direct to uh realate real estate agency what I was focused on I had to go build my community so like I didn't care about what was going on I was like just like trying to learn the guidelines as they were and how the business was changing not focused on what I had lost and just going out and building relationships and like that's all I did for two years like I was everywhere like I was at breakfast meetings lunch meetings dinner meetings I was at networking events I was in BNI the chamber Commerce rotary like I was actually kind of thinking really small now that I look back at it like I just wanted to like dominate in like three or four towns right so so I'm going to pause you because there's people tuning in right now that if you're not picking up what I'm picking up this was 08 this was was 09 this was 10 let's fast forward can I call this 22 23 and 24 totally I mean history doesn't repeat itself but it Rhymes and there's a lot to learn from from this if you were just fast forward from 08 to 23 fast forward those 15 years um and what I'm hearing is there was no secret there was no handout there was you getting after it yeah I mean I literally like when I say like I stuck to the basics and I've really leaned on that those memories over the last couple years and I was really thankful for having gone through that because I was able to be like look I made it through that and all I did was just hustle I didn't listen to the noise I didn't like focus on anything I couldn't control it was all about like just activity and you know what's great about activity and keeping yourself busy it's like a the best distraction ever because one you start to win pretty quickly there's always people buying houses you know there was you know looking back on it there was like Millions upon millions of homes sold that year right more than there's being sold right now correct right and um and less people trying to to do the business way less people and and rates were very similar to what they were and then they went down right um it was the best gift ever so like I just hustled my ass off I became the person that the Realtors didn't even know who to call because like everybody had disappeared and then the ones that were still in the business were like hiding because they didn't even know what to what they could sell or they were mentally like I was just like you call me I'm available 24/7 like if you need answers you know I very early on became like the guy that like mastered because like I I was like I was like I don't know what they were called now I forget but I literally remember like I would order those books there was these three books it was The Fanny May guidelines the Freddy it was like an alls like it was a company that spit out the alls every quarter I had a subscription to it and it would come in and I would read those guid I would read those books and like I became a master at all the investors we had where I could set loans ltvs like all these things and so I became the guy with the answers even though I was like in it for like 12 months yeah and that's all people want they want to be confident they want if you're knowledgeable then you're confident if you're uncertain then you sound ignorant right and like and that ignorance and uncertainty doesn't breed confidence in your partners and certainly your clients so true yeah and so like that's what I just did simply put like that's what I that's what I became like I became the guy that was one available two knowledgeable and three like confident and that's all that needed at a time like that how many years did it take was it was it just one year before you felt like you made it was it three years and you like at what part did you feel like wait a minute I'm on to something all of this hard work is paying off um so truthfully I would say it was like uh year three or year four and I so the first year was hard man I closed $9 million in my first year how many units do you think that was if you were to guess U my average loan size is probably like 250 or 300 so like maybe 30 units so by the way um in your career I believe you've done over 40,000 units right so so this was just uh onet of 1% of your of your career production but that was your year one yeah I mean I didn't take a paycheck for six months intentionally cuz like we wanted to uh build up the account like I I didn't want to be in a position where like I was living month by month so I intentionally built up a like a kitty right so that way we could like run it like a business right and so I didn't oh hold on you mean you ran your business like a business for what a novel concept yeah so like so so year one was hard year two I think we did 18 million right which was like all right I was like now okay now I can like live right I didn't have any kids I had a fiance at the time you know like uh you didn't have any swifties swifties weren't weren't around yet my girlfriend which was my fiance is not my wife she was along for this whole ride and um you know so I was like then we did 18 and then we got up to like 30 and then when I I remember being at like just about 30s something million and I remember vividly I was at lunch one day and my phone's ringing I'm like holy like I made it like I like this is cool like I'm the guy with the money and people need money yeah right like you know like and I mean like you know like nobody's paying not at the time nobody's paying cash for houses like you need us right and like my phone was just like people were like hey you're the money guy right like if you need to borrow money and uh and I was like wow like this is happening and then and then you know I I grew it up to like and I remember getting to like 50 million and be like somebody saying to me and I don't know who it was but like I'm one of those people that just grab on to anything that serves me and somebody was telling me that like you know it's easier to the hardest part is getting a 50 million like once you get to 50 after that it's whatever you want to take of it and then I got to like right around 50 I was like like I made it and um and then it was just a matter of like but you know look there was a lot of ceilings that we hit a lot of growing pains like this is all it's fun looking back at it exciting but like it certainly wasn't easy like it was a Hustle Man yeah at the time you don't realize I mean anyone who's built any business you you look back and there's a reason why we long for yester year but the problem is when we're when we're in it we're like in it and we're usually stressed out because the results aren't what we anticipated but looking back you're like oh The Nostalgia kicks in yeah and it was worth everything everything that I put into it all the sacrifices uh everything the learning it was like totally worth it and it's still serving today well that's I saw someone do this and it may have been Renee ridriguez posted on something and I follow Renee and we're buddies great and and I think he was one of his reals was about three years of sacrifice for 30 years but it's three years of sacrifice like something had a sacrifice like for me I went through it there's been times my marriage sacrificed sometimes my my weight my health sacrificed but to look at where I am at 4045 looking into the next 40 years I was like oh those sacrifices were temporary yeah and now I get to to benefit the next 40 something you said that that I love so we launched this coaching company about nine months ago all based on the popularity of the podcast right so it's the tlop MLL coaching Community it's basically the LA Fitness for loan officers looking for coaching love it so when I grab on to someone who's newly licensed or they're maybe a year or two into their into their industry and they need help they're a little bit lost they're scared I'm like cool it's okay to be lost and scared it's not okay to do nothing about it I will tell them prepare to make no money for 6 months what I just hear you say I didn't take a paycheck for 6 months yeah then I said whatever money you make in year one you'll double it in year two you and I don't know each other we met today and you're like yeah I did 9 million in my first year I did 18 million in my second year and then I literally would tell someone and whatever you did in year two you'll do one and a half times that in in in in year three you did a little bit better than one and a half but based on on my MTH that person would have gone to to 27 million you know and it's like wow I teach that in 2024 you lived at 8 n 10 yeah um so I promise and we're gonna get into this I do want to pick your brain you're you're number one for a reason yeah so that means real estate agents are able to learn from you home buyers learn from you in your team daily in fact if you did 110 Million last month I'm thinking that was like 70 units 166 166 units maybe I was giv uh Boston a little B higher loan amounts than average loan size is about 600,000 okay so so 166 people plus received advice from from shot his team so I want to make sure that we get to that but before we do this is a this is a do question now bro what drives you like I mean what 50 million right like if we use this on just average comp I don't know what company people work at and different comp plans that's on the lowend $300,000 in personal income on the high end let's just say it's $700,000 in in taxable income okay that's a $50 million producer you get to 50 million you're one half of the 1centers right yeah yeah and that wasn't like you're like no I can do more what where did that come from yeah you know so at first where it came from was like I remember getting to initially getting a Guaranteed Rate like having a moment where like I got there doing 50 million thinking like chest is up like I'm the man and then I see a bunch of people at the time doing there was a producer at the company that just done 400 million a couple PE two guys had done 300 million one of them is still a close friend today and then uh who's that you wantan to give him a shout out yeah Joe cbio he was like uh he's he's not in the mortgage business anymore but he was like one of the top guys of the company when I first got there and uh you know learned a lot from him as a loan officer um and um and um you know there was a bunch of people doing 100 and I'm sitting here like busting my ass at 50 so and then I got to get to know these people and I was like well if they can do it like I can do it so then it was a matter of like okay there's so much untapped potential in me because like these people people have figured out if they can do it I can do it and these are all like smart people hustling but like they didn't they weren't smarter than I was and they weren't work willing to work as hard so I I learned and studied from them and figured out what they were doing where they were more efficient where they were smarter like they were there was things they were doing I was doing and then it was like okay I I caught up to them pretty quickly and I was like all right well I can I can like run this like a business like that people in the mortgage business aren't doing because like if you look at there's financial advisors there other businesses that are like uh scaling and like and like I was like well I can real that matter I remember you know fortunately very early on I'll give Keller Williams a quick shout out because I remember um at this time this is you know when I first started like I worked with some friends that were Keller Williams agents and and they would invite me to their classes bold a bold you know I read the book UHA Ag and you know the whole concept was like you know you can you're only capped by yourself but you can leverage other people really smart people build a team and do even more and drive better client experience stuff so like there was like all these places around me that were doing more and I was like well let me just see if I how far I can take this in and so I went like look you know I'm a son of immigrants right there's a little bit of that built in me that like you know I don't take this country for granted I appreciate the opportunity here I think it's still an amazing place and like um and like you know like you have all these success stories all these people in different businesses I was like I can I can really scale this thing and so and then like even today like you know um I'm I have like my eye like I just I'm like one of those people that like I'm an extremely hard worker uh I came from very humble beginnings I don't take for granted this opportunity we have in front of us and like and I love this business and I also think that like there's a massive need for us kind of like where you were going at like you know things are hard right now it's hard being a real estate agent it's hard being a consumer you know a potential own buyer it's hard being uh in the mortgage business but like it's not that hard like if if you you just have to it's not impossible I guess it and like you just have to figure out where the opportunity is you know there was a speaker in here just talk about there's there's so much opportunity even right now like you know we're going to do we're going to make a run at a billion dollars this year right we did 600 million last year um that's those are numbers that like I thought I would have been happy within my career and like we're doing in the middle of this yeah you know so like I love this business what what um was there a pivotal moment I mean besides you I love the fact that you you changed your perspective when you change your surroundings correct and I just wrote something in my wife actually used to preach this to me but she was probably preaching it more to me about my friend group than than than anything else but it's like you are the company you keep the minute you changed the company you keep now what you did so through acquisition you're like wait a minute I thought I was the big dog at 50 million but so and so is doing 100 so and so is doing 400 and you're like why not me why not now yeah but was there something tactically that you besides work harder something tactically or mindset wise that you changed totally to get you from 50 to 400 100% it's easy um because I grew up in the business as a direct to Consumer loan officer and then also because I really kind of got my foundational start in the business when like stuff was bad and like mortgage companies going to fail I was afraid to spend money right and I was afraid to hire support staff I just thought I had to do it all on my own and so then I like and then I also had this thing where like well everybody wants me like I wore this badge of honor like I'm a control freak and like I'm the only one that can do it nobody's going and then I was like you know what like as I was learning more I was like I got to make some hires and as I started hiring uh the right people to work on my team to support my business and and and actually do stuff better than I was doing it and then like I hired my first um assistant who's actually I hired him as an assistant he's uh on my leadership team now I hired uh an operations manager who was the person that like when we were busting the teams going from like 180 to 300 you know she's still with me today I hired a business development team I hired a marketing team like all not all at the same time like every couple years you invested back in your business yeah 100% And like because there's only so much you can do by yourself in any kind of business and so when I got comfortable doing that is and and I um because I looked at it like either hey look by hiring these people I'm either going to work less or make more money or both um and it took a while for me to work less I'm not sure that that's really kind of I work more efficiently now but like um but I always did more and I was also able to reinvest in the business and so that was like the incremental change uh that and then I started utilizing Tech like you know um because I was able to just be more available and like this is like whether you like I hear loan officers complain all the time like I don't want to be available I don't want to work nights I don't want work weekends like this is like the business like you know it's like you don't have to you know just shut your phone off I'll answer it you know I mean like it comes with the territory yeah yeah it comes with the territory and like if you don't want to do it yourself like you know what I do I pay a lot of money for people to work nights and weekends to cover my phone and cover my emails and they do an amazing job and onshore or offshore onshore onshore yeah yeah so and um because there you know and like I made that investment right so like you don't have to do that I didn't have to do that but like that's what I wanted to do and it's scaled my business because now all my partners know that if I call if I text if I email I'm getting not only an immediate response but the desired answers the desired support all that kind of stuff so like that that's not a expense it's a 10x investment yeah some of the best advice that was given to me and I now coach loan officers throughout the country for it is a friend of mine is actually a dentist he's a really good denti shout out Dr Curley in Altimont Springs Florida but um I think about his practice because I'm a patient and well when I walk in does Dr Curley is he the guy who checks me in ask me if I took my my meds no yeah funny and then and then when I when I go back is he the guy who's who's who's doing my x-rays nope is he the girl who's cleaning my teeth no yeah right for the final three minutes yes and he'll tell me you don't want me cleaning your teeth he goes I did that for 3 weeks in dental school he's like I'll Jack you up and make you bleed and it's like as aan officer we all go through this it's like we think we're the Holy Grail the only one and it's like ah probably not you could probably hire train and hold accountable someone to do that better and then you can go focus on the things that you do well and maybe you enjoy you're not going to work any less but you'll focus on the things that you're you're good at yeah I I love it yeah I mean that's you know if you can do all the things that you're great at and enjoy and all the things that you're good at and enjoy you're you're so much more better for everybody around you your team your clients and your partners if you're doing stuff that you suck at or you don't like you suck the life out of everybody and yourself yes of those 160 plus units last month um I bet you had this you're dialed in what what percentage do you think were past clients were realtor referrals uh any come from your social media any come consumer direct like what does that look like yeah so um so we did six refi the purchases were um uh you know obviously 160 units of the purchase business that we did 60% of them were realt driven and the 40% were previous clients or like previous database we had 900 applications last year just from our database Outreach so like we hit our database real hard thatth day calls uh uh anniversary check-ins what no man like I I provide content and value like okay yeah like I mean I say happy birthday but like nobody's doing business with me because I'm saying happy birthday to them like I'm sending them week like actually not weekly daily emails with like anything I record on social I email out too uh so any video every video I do to your database every email everything I post on social as a video I email it to my database so I stretch my content we send them emails that we curate based on what we're seeing in the market I have about a 40% open rate to my email database because I don't send them BS stuff yeah like you know if I get like a happy email happy birthday email from my plumber I delete it you know what I mean like so like look like I think like it's better to be in their inbox than not but like I try to send them valuable content so I'm sending them text emails social direct messages we're posting a lot on our social so like it's very the way and here's why I email it and here's why like a lot of email gets like a bad right email's great I just think horrible emails are dead I think good email content will still be read if it looks like 700 people got it then it gets deleted if it looks like it's a customized email specific to that person with valuable content that Peaks interest they'll read it uh if it's HTML delete automatic unsubscribe um so yeah I mean look we're hitting it hard via social via email and and we're like really engaged with our partners like we pour a lot into our partners because we love them they're our source of business right so like we really try to go all in on like giving them content educating them uh informing them I always say one of my you you'll hear it tomorrow like if you educate you attract if you inform you motivate what I mean by that if I educate my database if I educate my partners I attract the right kind of clients and I attract the right kind of partners that value me for what I bring to the table and if you inform you motivate people into action and like that's really powerful in a market like this where a lot of people are Frozen um so I spend a lot of time uh curating content social and written because you don't know how people are going to consume information I don't know how you like to consume information corre you know are people like not everybody's going to listen to this podcast but some people are so I do podcasts yeah literally some some people listen to podcast some people go to YouTube and you have no idea some people just watch the clips on LinkedIn and be like dude I love your podcast like I don't think you're a podcast listener they're like no I follow you on LinkedIn yeah you're absolutely correct you're stretching it yes you have to have to so you you're touching your database daily though every day every single day no NOS absolutely love it so this is a offbrand question so this is off Mortgage in real estate Co talk to me briefly about your shoe collection ah lot of what what I mean if you were to guess how many pairs and are they all Nikes uh you know I have a couple that are not but yeah I mean it's predominantly and the mo most of them that aren't Nike are gifts from yeah um but um it's predominately Nikes uh I have um mostly Jordan once okay I was a big uh like I remember when my dad gave me my U my parents gave me uh my as a 10-year-old my first pair of Jordans and it was a big deal like a $100 sneakers back then was like I me be the equivalent of like 500 you know yeah you and I in that same boat mine were though Bo Jackson when B Bose I had the bows the Nike bows the high tops and that was like I couldn't believe my dad let my mom spend that much money and my mom had a rule though she had to make sure my foot was done growing that was her rule you know what's crazy is like I don't know that I'd ever bu I mean maybe now because my kids are spoiled but like I don't know like that anyways you know whatever so I was just like I'm I'm looking down and I'm noticing right I remember I follow you on social and then I was thinking so JC who normally sits in your seat he's my co-host and my my producer you met him the guy from from uh Springfield Springfield yeah yeah he's he's a big sneaker head right so like he's he's always rocking some kind of like fancy um so I was just curious like if you were to guess 300 pair 200 pair uh no it's I'm very selective so I've got about 60 okay yeah but like I'm very like I got all the good ones the rare ones you have the rare ones that are hard to find like I've been looking for the Carolina Blues yeah yeah and I'm too cheap to spend the money to get them I found them yeah yeah but so I I just I you know what like I don't really have any vices uh and I don't have a ton of like things that I spend a ton of money on uh sneakers are my thing and I wear them you know it's funny is like I'll walk by all my buddies kids they like dude you're wearing those like I have my Travis Scots on today and I'm like yeah they're like how can you wear them what if they get dirty I'm like I'm a grown ass man like you know these are for wearing like I'm not trading sneakers like I run a business you know so uh I love it it's fun you know when Co happened um it was great in a lot of ways uh cuz everybody got a little bit more casual uh I'm more like free and like who I am like I wear pretty much a t-shirt every single day I wear jeans and I wear sneakers and I go to my meetings like that every every once in a while I dress it up with a sports code if I'm feeling fancy and because they look good with sneakers I go to weddings with sneakers on now like it's just who I am I'm way more comfortable in my skin and it's like a part of me just being fun being authentic and like it's like a it's a cool like it's a little confidence booster too yeah I'm I'm I'm looking forward to Friday we're recording this on Wednesday so it's day one of Mastermind Summit Friday is when I'm pulling out my Jays and they look sweet with the outfit I have my wife saw me pack and she goes do you even wear those I'm like yes at least once a week she goes they don't look they've ever been worn I'm like babe that's the goal the goal is I want to keep them clean but yeah they they look sweet all right three last questions then we can wrap this up a lot of fun um I'm having a lot of fun so thank you for this what advice are you given giving to the realtors that you serve right now about the market about how your team can serve them or better yet I mean what are you teaching them things that they can be doing to become more successful 24 but even leading into 25 and 26 yeah so great question um the biggest two challenges our clients are facing which is our partners clients and our s are facing is affordability is number one as home prices have gone up and rates have gone up um and there's inflation and all that kind of stuff like everything's more expensive and then two is just like purely how to win right like it's extremely difficult the demand far exceeds the supply so I'm doing everything I can to educate my partners literally every single day we're out with our partners doing Mastermind lunches doing training sessions going into their team meetings coaching them as to giving them information as to what we're seeing in the market in the housing market in the mortgage Market all that kind of stuff just giving them information so they can back out and sell it uh I'm sorry uh go back out and share it with their clients so they can help them motivate you know what I said earlier educate attracts information motivate so like if I'm informing somebody about Hey listen I know your this is what your budget is today but if you buy this house this is what it's going to look like in five years if you stay renting versus buying like I know your mortgage payment is higher than your rent payment you might think that's not a good move for you but like here's what happens if you stay renting versus here's what happens if you buy so like educating them coaching them you know when what I tell my partners all the time and what I believe truly and there's a lot of things I'm talking to my partners right now because they have it just as hard as we do the harder this Market gets the more unaffordable the uh more challenging to win the house because things are getting over bid multiple offerson stuff the more important we are as professionals both as mortgage and real estate because the cream will rise to the top we're not just like we're not just transaction like we were a couple years ago when rates were 2.75% and they're not just door openers uh when like everybody wanted to buy a house right like so you have to show your value so I'm giving them I'm giving them everything I can as a good partner to educate their clients to get them prepared to get them confident to get them knowledgeable so that they can act in a fast moving market and then I'm coaching up their clients as to how to deal with the affordability challenges and how to have the right perspective and how to enter the housing market right now because it is an amazing time you think it's hard now what happens when rates comes down in two years when everybody has more afford ility more buying power and there's even more demand so I'm really coaching them on that the other part is that like ultimately like you know with everything they have going on with this our settlement um I do think it's going to be the best thing to ever happen to them because it's going to force them to communicate their value proposition and you know if you're not if if you're good at communicating and you have value and you understand the obstacles and challenges of your clients and you can be the solution you can articulate that you're going to quadruple your business and it because it's going to eliminate the same thing that happened in our business in 2008 the same thing that's happened business last few years you know I just saw a presenter speak about how many people have left the business I'm cool with that they shouldn't have been in the business if they can't if they can't there was a lot of business that happened over the course of the last two years both in real estate and mortgage and if you can't survive the Slowdown for two years then you don't deserve to be in the business well said well said what do you um what advice you given to home buyers right now uh you know home get prepared early right like this isn't something like that you should it's a very competitive market there's a lot of qualified people that you're going to be competing against that want to get into the housing market you have to know your stuff and you have to do the work in advance you know you're buy you're buying a big ticket item like you can walk into a car people don't even just walk into a car dealership and buy house like they research it but a lot of people are like hey I found a house I want to buy it I want to get pre-approved can you do it I have to make an offer in an hour like you got to get pre-approved in advance you have to know all your options you have to spend a lot of time like understanding and getting knowledgeable yourself because if you're not you're not going to act you're going to freeze and if you don't get in now the biggest advice I'm giving is like listen like you know going back 81 years home prices has appreciated 75 times they've only come down in the nation six times right so all those people that are waiting to buy when rates come down all the people that are waiting to uh come uh buy when home prices come down they could be waiting for 25 years and then by the way those house prices are going to be quadruple what they are now and they're going to be missing out on all the wealth creation by paying principal by paying interest by having the tax but if it's in all also like the Fulfillment and fund that comes from like owning your house like I have so many great memories it's not just a financial decision like my family my my life like all all the good stuff so just trying to get them to see that you know there's there's a lot that you have to think about when buying life spers purchase I am uh I love what you said about the the 75 years and home appreciation I always like to um compare it to the Chicago Bulls of the 1990s like this is the Jordan Pippen era like they never lost home ownership doesn't lose uh so I have two quick questions we're going to close it out uh Celtics in how many Celtics in six Celtics in six does that mean they win on their home court then uh no unfortunately they would win in Dallas if that happens but you know look I got a lot of respect for uh Dallas Luca is probably my favorite player in the league outside of any Celtics I hate Kyrie Irving with all my heart uh he was a horrible Celtic uh but like uh but he's a great player uh and I think they're a tough team and they're battle tested and I think it's going to be a killer series I think we have a little bit more Talent we got KP coming back uh I'm a huge fan I'm try to make it to almost every single playoff game uh you know I was living at the Garden the last couple months with the Celtics and the Bruins both in the playoffs unfortunately Bruins bow out but I'm feeling good about the Celtics chances uh what advice are you giving to your three girls that was not given to you but maybe you learned it because you entered the mortgage industry because you've run your own business and had the success you had what's what's one piece of advice that you're going to make sure that that you raise them with yeah you know um so the same advice that I was given actually like you know me and my wife both come from really humble beginnings my wife's extremely talented smart she's an executive at a tech company she has an incredible career she still works and like um you know but like our our parents grinded out so we could like make like give us a great life both uh and and so we're trying to do the same for them but like never take it for granted that hard work uh is is everything and like you know being fulfilled being honest um so all it's all the same things that we learned from our parents like we both came from incredible families that gave us great advice that raised us to be good people and so we're just trying to instill um you know I don't want to be one of those like really successful people uh that have like like had kids that didn't appreciate it and take everything for granted and are like spoiled So like um we're just trying to instill good values in them and just keep things real uh because it's there's nothing more important to me than you know how what they turn out to be if people want to follow you or connect with you what are your preferred methods of of connecting so to follow me uh hit me up at uh on Instagram shant bosan also I'm on LinkedIn I post most of my content on Instagram and Linkedin uh but um if you want to reach out um you know I guess Direct message me through either Instagram or LinkedIn perfect and if you just recently tuned in because you noticed that we are having the number one lender in America as a guest we are the loan offer podcast we're affectionally known as tlop you can find all of us in everything that we do on tlop online that's subscribing to the YouTube channel that's uh signing up for the free newsletter that I actually personally write every single week or if you're looking for coaching all that information is found over on tlop online our social handles are at theone officer podcast that's Tik Tok Instagram Facebook and my first name is Dustin my last name is Owen I'm best reached actually on LinkedIn but hean I'm Doo that's all the time we have for you today coming at you from Mastermind Summit in Las Vegas shout out Matt Emery thank you for the invite what a phenomenal event and we'll catch you on the flip side peace [Music]

Channel: TLOP

Views: 1,472

Keywords: housing market crash, real estate, real estate agent, real estate news, real estate investing for beginners, Guaranteed Rate, loan officer, real estate agent day in the life, real estate wholesaling, mortgage rates, mortgage rates today, mortgage rates 2024, mortgage loan, mortgage interest rates, mortgage explained, mortgage interest rates today, mortgage backed securities, mortgage calculator, mortgage loan officer salary, mortgage rates forecast, tax credit, money

Id: kHduibLXJq4

Length: 39min 54sec (2394 seconds)

Published: Fri Jun 07 2024