LOAN GOAT CEO Milad Shamoun | Coffeez for Closers with Joe Shalaby Ep. 40

Summary

Podcast Summary: "LOAN GOAT CEO Milad Shamoun | Coffeez for Closers with Joe Shalaby Ep. 40"

Introduction

In Episode 40 of "Coffeez for Closers," host Joseph Shalaby welcomes Milad Shamoon, the Founder and CEO of Lone Goat Mortgage Brokerage. Milad shares his remarkable journey from serving as a Marine Corps sergeant to becoming one of California's top mortgage brokers. This episode delves into Milad’s transition from military service to entrepreneurship, his business strategies, challenges faced, and his vision for the future. Listeners gain valuable insights into leadership, resilience, and innovative approaches within the competitive mortgage industry.

Milad’s Early Life and Military Service

Milad Shamoon immigrated to the United States at the age of five and grew up in a Middle Eastern household where education and discipline were highly valued. His father, a veteran of the Iran-Kuwait war and a prisoner of war, instilled in Milad the importance of resilience and hard work.

At 18, Milad enlisted in the Marine Corps, where he rose to the rank of sergeant. The rigorous training and leadership experiences in the Marines shaped his disciplined approach to business.

Transition to Real Estate and Mortgage Industry

After leaving the Marine Corps in 2019, Milad obtained his real estate license. He excelled quickly, selling ten homes in his first year—a feat considered exceptional in the industry. Despite his initial success in real estate, Milad sought to pivot into the mortgage sector to explore new opportunities.

Notable Quote:
“We are a relationship-driven business. Because he has taken care of me and provided me value throughout the years and helped me grow, that is why I'm so faithful to sending all my non QM loans to Change Wholesale.” [35:44]

Founding Lone Goat Mortgage

Milad founded Lone Goat Mortgage in 2021 amidst a challenging market marked by rising interest rates. Instead of following conventional pathways, he differentiated his business by focusing on non-qualified mortgages (non-QM), catering to high-net-worth individuals and business owners who required specialized loan solutions.

Notable Quote:
“Non QM is your niche. You think about the wealthiest people, right? The wealthiest people, business owners, they write their income off. You write your income off, eventually you're not going to qualify for a Fannie Freddie loan.” [25:22]

Overcoming Challenges and Achieving Rapid Growth

Despite entering the mortgage industry during a downturn, Milad achieved a staggering 3,000% increase in revenue from his tax return of $40,000 in 2021 to $1.225 million in 2022. His relentless drive and innovative strategies allowed him to navigate and thrive even when the market was unfavorable.

Notable Quote:
"If I can't approve one of them, I will wire you $10,000. I don't even have $10,000. But they love that. They're like, wow, you're confident." [24:05]

Milad attributes his success to his ability to create opportunities and leverage relationships. By offering solutions that others couldn't, he built trust and established Lone Goat as a reliable name in the mortgage industry.

Business Strategies and Core Values

Milad emphasizes the importance of problem-solving, relationship-building, and thinking outside the box. His core strategies include:

1. Leverage Relationships: Milad leverages his network to create opportunities, often offering assistance to others without expecting immediate returns.

   Notable Quote:
   “Leverage, not only loans, but leverage relationships, and every single person that you know.” [18:34]

2. Non-QM Focus: By specializing in non-qualified mortgages, Milad caters to clients who need flexible loan options, setting his brokerage apart from competitors.

3. Service and Community: Aligning with E Mortgage Capital’s pillars, Milad prioritizes service and community, believing that helping others leads to mutual success.

   Notable Quote:
   “If you can help realtors grow, they will never forget that.” [36:30]

4. Continuous Learning: He advocates for ongoing education and learning from every interaction, ensuring continuous personal and professional growth.

Facing Adversity

Milad candidly discusses the hardships he faced, including financial setbacks and personal losses. In 2022, he experienced significant challenges such as a costly house leak, insurance delays, and the theft of his first Rolex. These experiences tested his resilience but ultimately strengthened his resolve.

Notable Quote:
“I realized that nothing in this life is easy. You have to take Ls, you have to take losses, you have to feel pain, you have to suffer.” [29:12]

Joining E Mortgage Capital

Milad joined E Mortgage Capital, recognizing the value of being part of a collaborative and high-achieving community. This move provided him with additional resources, mentorship, and a platform to scale his business further.

Notable Quote:
“The best move I made in the mortgage industry is joining E Mortgage Capital. You guys have an amazing platform, amazing people, amazing human beings.” [26:23]

Advice for Aspiring Loan Officers

Milad offers practical advice for new loan officers aiming for success:

1. Learn Continuously: Absorb knowledge from every interaction and experience.

   Notable Quote:
   “Learn from every everyone that you meet. Learning and education is so important.” [29:12]

2. Think Differently: Innovate and think outside traditional methods to stand out.

3. Choose the Right Team: Selecting a supportive and knowledgeable team is crucial for long-term success.

4. Be Resilient: Embrace failures as learning opportunities and maintain a strong work ethic.

Future Goals and Vision

Milad has ambitious goals for both his personal life and his business. Personally, he aims to regain his fitness and move his family to San Diego, providing them with stability and a higher quality of life.

Personal Goal: Slim down to 180 lbs and improve his health. [41:36]

For Lone Goat Mortgage, Milad seeks to grow his team to seven loan officers and collectively achieve $100 million in mortgage transactions by the end of the year. He is passionate about mentoring others, ensuring that his team members also thrive and succeed.

Business Goal:
“By the end of the year, I want everyone else. I've got a team of like six or seven loan officers under me right now. I want them to collectively do $100 million together.” [42:13]

Conclusion

Milad Shamoon’s story is a testament to the power of resilience, strategic thinking, and the importance of relationships in business. From his disciplined Marine Corps background to his innovative approach in the mortgage industry, Milad exemplifies what it takes to build and scale a successful business. His dedication to helping others and his unwavering drive make him a standout leader and an inspiring figure for entrepreneurs and professionals alike.

Final Notable Quote:
“Never heard of that one. Well, that's a good one. What's God gonna tell me when I'm in front of the pearly gates? I wish there was more you. I love giving back.” [46:32]

Key Takeaways:

• Resilience and Discipline: Military training can provide a strong foundation for business success.
• Innovative Strategies: Focusing on niche markets like non-QM can differentiate a business in a saturated industry.
• Relationship Building: Cultivating and leveraging relationships is crucial for sustained growth.
• Continuous Learning: Emphasizing education and adaptability leads to long-term success.
• Mentorship and Community: Being part of a supportive community enhances personal and professional development.

Quotes to Remember:

• “Nothing more than when someone says, you can't do this. It's impossible.” [16:00]
• “Only God can break me.” [34:39]
• “Think outside the box, because when you think outside the box, that's where the money is.” [40:17]

Milad Shamoon’s journey offers invaluable lessons for anyone looking to excel in business by staying true to core values, embracing challenges, and prioritizing service and community.

Transcript

[A]

Foreign.

[B]

What's up, everybody? Welcome to another episode of Coffees for Closers. And today I'm thrilled to announce our very own Milad Shamoon, whose journey from a dedicated Marine sergeant to one of California's top mortgage brokers is nothing but a testament of resilience and excellence. After serving with the Marines, Milat shifted his battlefield to the competitive world of mortgages, bringing the same discipline and determination that marked his military service. As the founder of the Lone Goat Mortgage brokerage, he quickly set a new standard for trust and reliability in the industry. His deep understanding of mortgage options has not only made him a top broker in the Golden State, but also helped countless families achieve their dream of homeownership. Join us as we welcome Milad and he as he shares his journey, what he learned from the path of serving the country to serving the community. Please welcome our very own, our own Lone goat founder and CEO, Mr. Milad Shamoon. Welcome, Milad.

[A]

That was amazing. Thank you for having me, Joe.

[B]

Thanks. Thanks, bro. Thanks for coming. Thanks for coming down from San Diego. And we're blessed to have you. We're blessed to have a partner like you with the E Mortgage family. It's been a huge blessing to have you join the community and show people a new way of doing business. You know, you've been dominating here. Been a testament to how someone can quickly gain more resources, more insight, more production, extreme revenue within this ecosystem. So it's always awesome to have a great walking billboard like you of success and also just a great human being. And I like to gloat about you to others who are within the organization because, you know, being a top five partner with it, with E Mortgage Capital, amongst 900 people and doing it in a quarter, in 90 days or 120 days is like, yeah, literally. I don't think anyone's ever done it ever with with our company or with any company. So kudos to you, my brother. God bless you and keep dominating. So I like to start every podcast, everyone I do with just a little icebreaker just to let people know who you are and how you start your day. So I like to talk about your morning routine. Okay, what do you do every day when you wake up? What time do you wake up? What time do you go to bed?

[A]

Sure, sure. So I am a. I'm a late bird. I go to bed usually around 1:00am Wake up around, say, around 7:30. First thing that I do is I roll over and obviously I check my phone. That's how you know we're in the real estate Industry go through my emails and I recently just signed up with a personal trainer. I put on a lot of weight on, you know, over the last couple of years. Just building, building, building, building.

[B]

Yeah.

[A]

The business just focused on, you know, building the businesses and scaling and I, I forgot that, you know, health is important.

[B]

Yeah.

[A]

Because all that I, all that I focused on in the last couple years was just investing back in the business and making the right decisions and scaling and hiring and, and everything that's related to business. Right.

[B]

Yeah.

[A]

So recently I just hired a personal trainer, getting back in the gym. So I'm excited about that. You know, health was extremely important to me.

[B]

I mean, you were a Marine.

[A]

Yes, Marine.

[B]

Before you like ripped your whole life. So it's like I was, you know. You know, and we, me and you were talking about that like money doesn't matter as much as hell, right?

[A]

No, it doesn't.

[B]

And Sharon, our first guest, has a podcast. I listened to one of his podcasts and he said there's two things that you want to have an infinite budget for. It's education. Does, doesn't matter.

[A]

Yeah.

[B]

What year. What you spend on your education, Spend it. Spend. There's no price tag. And health, like whatever the health price tag is, just cares. Spend it. So it's like if you need this for your health, spend it. You need that for your education, spend it. So, you know, money doesn't buy happiness. No, it doesn't.

[A]

And I used to think that I did.

[B]

Yeah. Well, you know, now that you got a lot of it, you know, now.

[A]

I, I read like last year I, I bought a 2 1/2 million dollar house in Mission Hills. I bought a G Wagon, brand new G wagon. I got a day date Rolex. I bought all the materialistic things. Right.

[B]

Yeah.

[A]

And even after I bought that house, which I thought this was the pinnacle of success, I still wasn't happy.

[B]

Yeah.

[A]

And I was like, what the hell? Like I thought this was supposed to be happening. So I can attest. Money does not buy happiness.

[B]

Yeah.

[A]

I feel like it's purpose.

[B]

Yep, that's right. And you know, it's good that you're recognizing this, this sort of wisdom at this age because you're only 28. So for you to have that sort of insight, like the world's your oyster now because it takes a lot for a man to realize that right now really the journey of wisdom is beginning for you. And I think that you're going to be able to accomplish much greater things as a result of that. You know, that, that Wisdom that you're attaining. So let's start with your journey. How old were you when you entered the mortgage space?

[A]

Well, I was. Let's see, I'm 28 now. I was 20 in 2019. I got out of the Marine Corps. I got my real estate license in September. No.

[B]

Yeah.

[A]

I got my real estate license in 2019 when I got out of the Marine Corps. I did real estate for roughly, I want to say, 10 months, almost a year. And that is right before. Right before COVID happened. I recall. So I recall wanting to get into the mortgage industry because at the time I was, what, to 20, 21. I was 24 years old. So I told myself, let me try the other side of the industry, and if I love it more, then that's a side that I'll go with. And if I don't, then I'll just fall back on my DRE license.

[B]

Yeah.

[A]

And I think I sold, like, 10 homes my first year. Really? It's pretty good.

[B]

You know, that's a top realtor, actually. Ten homes in your first year. Like, most Realtors, like, do, like one that's right here.

[A]

You're right. You're right. As I recall, my broker would say average. Average realtor sells one or two homes a year.

[B]

Yeah, yeah. You doing one a month is like, that's a top realtor.

[A]

So I knew that I wanted to lead a team because the Marine Corps, it's all about. I think the Marine Corps has the best leadership experience. Right? You learn leadership. Right. And I got out as a sergeant. When I got out, I. I didn't know what I wanted to do, you know, and, like, I was lost.

[B]

They didn't give you any direction in the Marine Corps.

[A]

I mean, when you get out, it's. When you get out, you're on your own. Right? And I was in school, you know, for a couple, like, for six months, and I was, you know, get my business degree. I've always, like, liked business. You know, I. I grew up in a Middle Eastern household where my dad had a. You know, he. He would always talk about education. Exactly. Yeah. Yeah. Like, my sister was the first one to graduate with a degree. She was a nurse now at Vanderbilt in Nashville. But I got out, I got in school, didn't know what I wanted to do. I got my real estate license because my ex at the time, her family was all in real estate, right? And they have nice cars, nice houses, and I knew that I could speak to people. I had the gift of connecting with people. Right. I'm just very I'm a natural when it comes to talking to people. Right. I can approach anyone. Yeah. And I thought that that was easily taught, but I. I think you either you have it or you don't.

[B]

Yeah.

[A]

So got into real estate because that got my real estate license. I'm looking for the. For someone to join, right. A team to join. And I go on Zillow, agent finder, and I picked the first person with a Marine Corps flag in his head shot. Jim Betrell. So I joined Jim's team, and I learned, you know, working for the guy, I. I disliked him a lot. I like because I'm a Heidi and he's an idea as well. I don't know if you. Dispersonality assessment. We're both drivers. I disagreed with a lot of stuff that he, you know, he did. But now looking back at it, it all makes sense. Right. Worked there for about 10 months. I told myself, I want to lead a team, just like Jim leads a team, but I want to do it in mortgages. Because you walk into your local bar, you tap on anyone's shoulders, and you ask them, do you know a realtor? The answer is yes. Everyone knows a real estate agent. Yeah, of course, not everyone knows a really good mortgage broker, right? Not everyone knows a really good loan officer. So they have to think about that for a second. But everyone knows a realtor. Their cousin, their wife, their ex girlfriend, their dad, their mom, their sister, their neighbor. They know a realtor. So if I can master loans, right, And I can set myself apart, that's a path to success with least resistance. That's how I looked at it, and that's why I chose loans. I got into loans in 2021. In 2021, I got into loans 2021.

[B]

Three years, man. So let's. Let's. I'm going to talk about twofold question one. You're an immigrant. You came to the United States at what age?

[A]

I was five years old.

[B]

Five years old. You immigrated. Now, then you go as an immigrant, you know, and I face this as well as an immigrant. Like, what was it like telling your parents, you know what, I'm not gonna go to school. I'm gonna go start a business. Not only am I gonna start a business, I'm gonna start a mortgage company. What was it like telling your parents, you're gonna go into the mortgage, I'll one up you.

[A]

What was it like telling my parents, I'm gonna join the Marine Corps and leave? That was. That was a talk that I had to have.

[B]

That. That's something that they don't really approve of. To be in with you?

[A]

No. No. Because my. My. I didn't even tell them that I was. When I've been on my own for 10 years now. You know, I left when I was 19 years old. 18. 18 years old. Yeah. I left Nashville Hospital, Tennessee. I grew up, left when I was 18 years old. And I came home one day when I was. When I. Right after high school, I got out and I tried. Cause for a little, it just wasn't for me. Like, it didn't fuel me. I didn't like it. It's. It's. I value education and kudos to anyone that has a degree, but it just wasn't for me. One day I came home and I told my mom. Mom, I walked into a Marine Corps recruiting station and I ship out in four months. And she was like, you're out of your mind. She thought I was joking until I actually brought the recruiter to the house. Jonathan Lozada. Still remember the guy's name.

[B]

Wow.

[A]

Yeah.

[B]

So. So then they. They were good then, with you entering the mortgage space.

[A]

Oh, yeah, the mortgage. Well, I mean, like, so going back to. I've all. I've been alone for 10 years. They didn't really know what I was doing. Like, I'm not updating them on everything, right.

[B]

Yeah.

[A]

Because, I mean, they're in Nashville. I'm here. You know, I speak to them, you know, a couple times a week. To them it was like overnight success. Like, what the hell?

[B]

Yeah. You went from, like, you know, dead broke marine to buying a multimillion dollar house in San Diego. Like in a couple phone calls, it was.

[A]

Yeah.

[B]

And I saw that picture of you, your mom giving you a kiss in front of the Lone goat headquarters. That's awesome. And that touched me. I was like, you know, that. That's. That's a proud Middle Eastern mom right there. Yeah. Filled your mom's heart.

[A]

Yeah, that was the best feeling. Just, you know, you bring realtors to the office and you show them what you build. You bring, you know, clients or employees. But bringing your mom, that was the first time she's ever seen it like that. Like, I was so excited. You know, it's like, look, mom. Like, you know, it's. It's like I. I want to give back to them. You know, they. My dad and my father and all my uncles were, you know, under the dictatorship of Saddam Hussein.

[B]

Yeah.

[A]

They all served the war. They all. They were all at war. My dad spent his youth in war. He'd Always tell me that, like, I didn't enjoy my youth. It was spent at war. And I. Iran and Kuwait. He was a prisoner of war in Iran. You know, he's got stories for days. I'm like, dad, I gotta write a book about you. Well, you know, like, I have to document this stuff. Crazy stories. I mean, they were forced because we're Catholic. Catholic Chaldeans in Iraq. And you got to do it. And, you know, they migrated. They. They fled the country after this.

[B]

Persecution is a real thing. That's why we came to the U.S. yep.

[A]

They fled the country and they brought my, you know, me and my younger sisters to America with a dollar in their pocket. You know, we don't come from money.

[B]

Yeah.

[A]

Also, like, I. I took my family out of Section 8 and EBT food stamps. I bought my parents a home at 23 years old, you know, so. And I owe that to them.

[B]

Yeah. Everything we've done. A lot of people listening to this don't understand persecution. You know, like, America is like, there's no persecution here. You know, people are talking about, you know, random rights right here. We're talking about getting killed for our faith.

[A]

Yep.

[B]

And that's. That's a real thing. It is. And that's why we came to the U.S. you know, it's like fleeing for, you know, just. Just to wear the blood of. Of price on our wrists. Right. Yep. So let's talk about. Let's talk about your journey into. So you started. You started as a loan officer. Let's talk about your first job. How much did your first job pay you as an LOL?

[A]

13 an hour.

[B]

13 bucks an hour. And then what was your tax return in 2020? What, one 21.

[A]

It's like $40,000.

[B]

Your tax return in 2021 is $40,000. What was your tax return in 2022?

[A]

1.225 million. 1.225 million.

[B]

Yeah. So those. Those that are listening right now is a 3,000% increase in revenue in this mortgage. God bless you, brother. That's. That's an amazing testament of success. I've never actually seen someone jump that much in revenue in one calendar year. That's crazy. And I'm hoping. What do you think this year is going to be with EMC? What's the trajectory look like?

[A]

2 million.

[B]

2 million. Hey, I would love to see a 3,000% increase, but, you know, I'll take. I'll take double. I'll take 100.

[A]

You know, I. I want to know not to toot my own Horn. But 2022 also is when rates went up.

[B]

Yeah.

[A]

So a lot of people were getting out. And I'm.

[B]

I'm going all in.

[A]

I'm all in.

[B]

Yeah. Oh, that's another thing.

[A]

Yeah.

[B]

You entered the mortgage space.

[A]

Yep.

[B]

At the worst time ever in the mortgage industry. And arguably, people say, arguably, that was worse than 08.22. It's worse than 08. But I love that relentless drive.

[A]

Bring it on.

[B]

So let's talk about your drive. Like, what do you think is it that drives you so much?

[A]

It's, you know, I love to solve problems. There's nothing more that I love when. Than when someone says, you can't do this. It's impossible. Right. When I moved to San Diego, there's a lot. There's a lot of flash in San Diego. Right. Like, I'm. I'm in the Marine Corps. I'm in Oceanside. Right.

[B]

Yeah.

[A]

I'm not. I don't know what a Rolex watch is. I don't know what a nice big house is in Nashville. It's very small. It's not like Southern California. Right. So I moved to San Diego in 2020, and I get exposed to all this stuff. Like, wow. You know what I mean? It's kind of like why I joined E Mortgage Capital. You get exposed to more things, right?

[B]

Yeah.

[A]

You're around success. So when I moved to San Diego, I was surrounded by success, right. And I. I saw all this, you know, all these nice things, and I was like, I want this. Right? Why can't I have it? And, you know, I. A lot of friends that, you know, I made, I would ask them that, hey, you know, let me help me out with your business. You know, I'm a very smart guy. I don't have a degree. Let me help you. Everyone said, no, no, no, no, it's okay. You know, no one gave me an opportunity. So I said, fuck this. I'm going to create my own opportunity. Right. And I went all in, all in on what I had my loan officer's license, and I leveraged every single. Which is one of our core values at lone leverage. Leverage, not only loans, but leverage relationships, and every single person that you know, right? So I went through my database of my contacts, I opened up my iPhone, and I'm going through my contacts. Who do I know that can help me? Right? And who do I know that's successful? I just sat down with everyone and I didn't say, hey, how can you help me? It's. How can I help you? A lot of people have it. A lot of people have it twisted. Like, I interviewed someone the other day, and she came in, won't mention any names. She was like, how can you help me? I was like, interview is done. And I said, let me help you with your next interview. I coached her. I was like, if you have nothing to offer someone that's successful, then why would they help you? You have to offer your help. Right? So I went through my contact list and I sat down with a couple big people that I know knew in the industry, and I offered my help. Hey, how can I help you? Can I drive you around? Can I. Can I record? Can I manage your social media just to get my feet wet and all went up from there.

[B]

You know, Milad, you remind me like you have a servant mentality. The first thing you did, I introduced you to somebody here at the office, like, hey, listen, come stay with me. You know, like, you just immediately just want to be of service. You just want to help.

[A]

Yeah.

[B]

You know, like, you. And that's what's making you so successful, is that giving mentality, the servitude mentality, the mentality of abundance. Like, you know, and it just. Just. God just keeps blessing that, you know, and that's what you have to. Hopefully the listeners realize, like, it's not a me, me, me mentality. It's a you, you, you. Yeah, I'm gonna do it for you, you know, like, it's not me. I'm gonna do it for you. And then the rest. God takes care of the rest. Right. Every single time.

[A]

I love to create opportunity.

[B]

That's right.

[A]

Because no one gave me opportunity. You know, I. I can. I can say that. And. And I'm kind of proud of saying this is. I was never given the silver platter. And no one said, like, hey, here's what you do first. And then you do this. Don't do this. I tried it out. Do this instead. I had to. I had to figure it all out. You know, I didn't even know what a brand was in 2022 when I started Lone. Yeah, I just chose a logo and then I remembered trademark. I. I've heard of trademarking logos. What's a trademark? Let me look up a trademark attorney. And I found Andy Nelson, who's in Orange county, followed my trademark.

[B]

And you got the best brand out there, one of the best brands I've ever seen. What do you what inspired that brand?

[A]

Lone Goat, greatest of all time, being the best number one elite, ruthless Marine Corps. That's what it's all about. And you know, I, I wanted to, I wanted to create a brand that was exclusive, that portrayed the best of the best. When working with us, it's like work. It's like working with. How do I put this? You walk into Ross. That feeling you get. Then you walk into Louis Vuitton. That feeling you get. We're the Louis Vuitton of mortgages. That's how I put it best. We're not the most expensive, but we aren't the cheapest. You get what you pay for, but with us, you get the best service. 24. 7 availability. We'll close your loan and if we can't do it, no one can.

[B]

Love it. And you like to coin yourself as doing the really difficult stuff. Talk to me about the difficult stuff.

[A]

Sure. Set yourself apart, right? So I made the majority of my money and by success, I All from non qm. Non qm. Non qualified mortgages, Right? That's the difficult stuff, Right. I, When I got in this industry, rates went up, right? So if I'm advertising just as your normal Joe Schmo mortgage broker doing conventional VA and FHA loans, no one's going to use me because there's thousands of those around right now. They would because everyone knows who loan Goat is. But in 2022, they didn't. So I went after the hard loans. I would call these real estate agents and I'd say, hey, pass me the loans that no one else can do that you're. I don't want to take your preferred lenders spot. I know who he is. He's great. Pass me the ones that he can't do. Go through your CRM and I promise you, look, go to your CRM. I tell them, go to your CRM and go to the, the back to the pond. They call them back to the pond list and let me call those. And I promise you, I would say this with confidence. If I can't approve, if I can't approve one of them, I will wire you $10,000. I don't even have $10,000. But they love that. They're like, wow, you're confident. I love this. Okay. And I started getting lists, right? And the first ever non QM loan that I funded, amazing. With change, wholesale. 10 Big shout out to Tan. Tan's a big mentor for me. He taught me non qm. I call Greg Whitney. This amazing story. Greg Whitney, broker, owner of Billionaires Row in La Jolla. And I'm after this guy because my first office was in La Jolla. I had a small little 600 square foot retail space. I say Greg, this is who I am. I've, you know, I've done a bunch of loans, I'm one of the top non QM mortgage broker, mind you, I haven't funded any non qm. But I'm just, I'm just, because this guy's a big guy, he's not gonna work with someone that just got in the industry. So he finally, after like a few phone calls and text messages and follow ups, he's like, hey man, I'm walking on the beach right now, but here's actually call. This guy, won't say his name, but is a Persian, very successful dentist in San Diego. He's got like three dental practices. He's like call this guy, he wants me to list his home in La Jolla. And he just, he won't qualify for the upgrade, right? And he wanted to list his home for like 2.3 I believe and he wanted to approve him for 3.7 million. And I was like, I'll take care of it, let me try. Okay, nice. So I get on the phone with Armin and oh, oops, just said his name, whatever. I get on the phone with him and this guy's very, you know, he's very successful. So anytime I, I smell opportunity, like big opportunity like this, I invite them to the office for a face to face. Because when you're face to face, closing ratio goes up.

[B]

Absolutely.

[A]

So bring the, bring the dentist to the office. And I, I'm looking over his bank statements, right? Because his tax returns, he's, he's written the majority of his income off, right? The majority of his income is written off. He's not going to qualify for a four million dollar house, right? So I'm going through his bank statements, I'm like, listen, I qualify you for a bank statement loan. And he's been to all these different banks that couldn't qualify him. And it's been over a year that he's been wanting to do this, right? So we qualify qualifying for a bank statement loan and because of our approval I'm able to pre approve the guy. Because of our approval, Greg Whitney, true story. Greg Whitney is able to sell his house on Caddington Row in La Jolla. Don't quote me on the numbers, but it's 2, somewhere between 2 and 2.5 million. And he's able to, and we're able to help approve him and fund the loan within three weeks on his replacement home on Via Valverde for 3.62 million. You add those commissions up, they, they're over $170,000. Over $170,000 that Greg Whitney made because Malad relentlessly followed up and told him, this is an option to your client. And from there I was like, wow, this is so powerful.

[B]

Greg loved you.

[A]

Greg loved me and the client loved me. And now the client's on is like four flown with us. We did an E log for him. Now we're doing a commercial loan for his dental office. And he's become actually one of my really good friends.

[B]

That's what relationships are all about now. You build relationships with both parties. 100 realtor, the buy, the buyer.

[A]

Yep.

[B]

And it's, it's, it just continues to snowball for you.

[A]

Yeah, I love non. I love non qm. It's, it's, it's your niche. It's. You think about the wealthiest people, right? The wealthiest people, business owners, they write their income off. You write your income off, eventually you're not going to qualify for a Fannie Freddie loan.

[B]

Yeah, that's right. That's right. Let's talk about like your transition when you decided to join E Mortgage Capital as a, as a division. How have, how much success have you seen and how has the ability to scale and learn and, and gain additional resources been tremendous?

[A]

The best move I made in the mortgage industry is joining you Mortgage Capital. You guys have a amazing platform, amazing people, amazing human beings. That's number one. It's so rare to come across people that just give and help. And that's what I think attracted me to you guys because I spoke to a couple different brokerages, you know, when I came and met you and Sam and you know, the rest of the management team, everyone that works, you guys are just nice people and that's so hard to find nowadays. Just nice, kind human beings. And also you guys are very, you're high level at what you do. When I joined E Mortgage Capital, I was speaking to Brandon Martinez who's also, you know, an lo here with, with E Mortgage Capital.

[B]

He's one of my west coast funding team.

[A]

Yeah, he told me malad, you know, I see a lot of myself in you. You are not going to get to where you want to go unless you go somewhere where you're not number one. Because I've always been the top producer anywhere that I was right.

[B]

Tumbling for them, even here.

[A]

Yeah.

[B]

Like never, they were never went everywhere they went like.

[A]

So he told me about you guys and I was like, you know what, man, you're right. I need to be around an Environment of killers, sharks around other people, that I can't be the smartest in the room. Yeah, I don't want to be the smartest in a room anymore. It's always been the smartest in a room, anywhere that I went. I want to be around people that are smarter than me. And that's why I joined you guys. And you guys are very, very, very good at what you do. You, Sam, the entire mortgage community. I mean, I've made more. I've made more, and I've Learned more in Q1 here than I did in the last two years.

[B]

Love it. We love having you. We love having someone, you know, of your character, you know, so character says a lot in this community. And just you being willing to help other people, being open about what you're doing, always being of service to other people here, it's just, that's the way to win. You know, one of your pillars at your company is leveraged. One of our core pillars, number two pillar is community. You know, our number one pillar is service. So, you know, like, you don't get anything without community, collaboration, you know, and being of service to each other. And that's something we just try to instill in everybody here. And that's something that you're, you're embracing in. Before you even came here. That was one of, you know, leverage, community. You've been doing it. So, you know, it's. We're all of the same mindset. So let me ask you this. What advice would you give to a brand new loan officer to attain success like you? I mean, you killed it in three years, making millions and a lot of ELOs in the worst market in history. So what advice would you give to a brand new loan officer?

[A]

Starting game over. When the race drop, you're not gonna see me anymore. But the best advice I can give a loan officer if they were just entering the industry is learn. Learn from every. Everyone that you meet. Learn from everyone that you meet. Learning and education is so important. Two, think outside the box. Think outside the box with everything that you do. Number three is pick a home. That, that picking some, I mean, picking some like a team, that they're picking the right team is the most important part of it because there are so many people that I meet, not just loan officers, but realtors too, where they're just discouraged because they, you know, they entered the industry, someone told them the dream and they didn't make any money. They couldn't, they couldn't make ends meet, and they had to go back to you Know, waiting tables or whatever. Picking the right team is everything. So when you enter the industry, are you going to know, you know how to pick the right team? No, but pick someone that has good. Go through your phone and find someone that you trust and ask them, you know, ask them, you know, hey, what.

[B]

Are, what are some good team third party validation?

[A]

Exactly. Get some third party validation. Because the, the right team needs everything. I mean, it's, it's. I did it. I, I don't know how I did it. When I look back and I just kind of just, I put my head down, I worked and I just went. But, you know, picking the right team and someone laying out a road map for you to ensure success and having the right mentor, mentorship is everything as well. And just work, work hard. Like nothing comes easy. Like, you have to understand that nothing in this life is easy, right? You have to take Ls, you have to take losses, you have to feel pain, you have to suffer. You have to. Otherwise the great moments aren't great. If everything was sunshines and rainbows in this life, what the would be the point? Like, you have to suffer. Ls you got to take the losses. I mean, last year was one of the hardest, hardest years of my life because I, you know, I, I bought the house, I bought the, you know, the nice car. And I wasn't thinking from, I wasn't thinking from an accounting standpoint, like, what am I investing all this money. I also built our office in north park that I put, dumped a couple hundred thousand in and I just did too much at once, right? And it was very hard for me. Out of nowhere, I get a $17,000, 500 mortgage payment. I had a leak in my house, right? And I had to battle the insurance companies for about last 10 months. I had to battle my insurance company for 10 months just to get paid. I finally just got paid, but I'm paying for my mortgage. I'm also. And I can't live there because it's inhabitable because they demoed the drywall and the bathroom by the master and all this good stuff. And I'm paying for my house in La Mesa and my office and all. You know what? Rinse.

[B]

No. When it rains, it pours.

[A]

And I was like, oh my God, this is crazy. I. Someone really close to me stole my first Rolex that I ever bought. $25,000 watch. I don't know who it was to this day, hopefully, you know, you know, what goes around comes around. But that was hard. So I just, all these Little things happened to me and, like, you could take away my entire company. Now you can take away everyone that I know. And I would. It wouldn't phase me at all. Why? Because I experienced so much pain last year. Right. And the years before, too. You know, so you have to be thankful for the L's, because no one that is great and successful has had a path of straight winning yesterday. It's not all once.

[B]

Never, never. It can't be.

[A]

No, it can't.

[B]

Because you never win. You never learn from your wins. You only learn from your losses.

[A]

Yes.

[B]

So it's just the people who are successful, you know what makes them successful? They get up faster.

[A]

Yes.

[B]

You get up faster than anybody else. Because guess what? Last year, that's when you started talking to me. At the end of last year, look how fast you were able to get back on your feet and dominate in 24.

[A]

Yeah. Yeah. It's all like, how bad do you want it?

[B]

That's it.

[A]

You know, you gotta. You know the tough part of being a CEO, I'm sure you can attest to this, Joe, is your whole life could be just burning down, and you show up the next day with a smile on your face.

[B]

Every day.

[A]

We gotta do this podcast today.

[B]

Every day, guys. Like, it's not all smiles. Like, got 900 loan officers that work at E Mortgage. It's not smiling all day, I'll tell you that much.

[A]

Yeah. So it's not easy. It's not easy, and it's not meant for everybody, but this is the path that we chose. And, yeah, you know.

[B]

You know, hey, I love it. I love it. You know, it's. I. I say this all the time. I'm really good at taking a beating. Just beat me up and I'll just smile at you. It's like, keep hitting me. Keep hitting.

[A]

What more can you. What more. How much more can you take?

[B]

Yeah. So, like, if you think you're gonna take me down, like, you got something coming for you, you know, nothing's gonna take me down. Only God can break me.

[A]

Yeah. Only God can break me. Amen to that, brother.

[B]

Yeah. Only God can break me. So what do you. Who do you think has been your greatest motivation? Like, who. What mentor have you had that's really mentored you and helped you become who you are?

[A]

That's a really good question.

[B]

I know a few of, off the top of my head, probably, that have mentored you.

[A]

Say 10. Yeah, 10. Yeah, 10. At VP at Change Wholesale. He's the one that taught me non. I funded My first ever loan with him, actually.

[B]

Yeah.

[A]

Yeah, it was an FHA loan back in 2021.

[B]

I'm gonna have Tan listen to this podcast so he can hear. He's gonna love. He already looks to like a little brother.

[A]

Yeah, it's like a bigger brother. I don't have a brother. You know, I have two younger sisters, so he's like a bigger brother to me, you know?

[B]

Yeah.

[A]

He's the one that, you know, taught me the game. You know, here's what this is. Here's what this is. You can have fun. You can have fun while doing it.

[B]

Yeah.

[A]

I remember he came to San Diego, took my team out. So I always. I always pick up from people, you know, always take a thing or two. He came, took my team out. I really valued that. Okay, so let's take realtors out.

[B]

Yeah.

[A]

You know what I mean? But yeah, Tan at Change Wholesale is definitely one of my biggest mentors, but I don't have, like a. Like a mentor that I pay or like, you know, a coach that I pay for that I look up to. But, yeah, you know, I. It's because me and Tanner, in a industry like. Yeah. How do I put this? Relationships are everything in this business. Right?

[B]

That's right. And we're not a relationship business.

[A]

It's a relationship driven business. And because he has taken care of me and provided me value throughout the years and helped me grow, that is why I'm so faithful to sending all my non QM loans to Change wholesale.

[B]

Yeah.

[A]

Right. And so I teach my loan officers, if you can help realtors grow. Right. They will never forget that. There are loan officers, there are real. There are realtors that, you know, I've contacted in the last couple years that have said, listen, you can be the greatest mortgage guru in the industry. Like, this is my guy. He took me from here to here. You know, he believed in me when no one else did. Right. And if you can. And if you can pick a Realtor that's doing five deals a year and help them grow to 20 and help them grow a team if they want to grow a team, that's everything.

[B]

Yeah. That's awesome. That's awesome. And it's great that you've really embraced that ideology already so early, so young in your. In your venture. Because there's. There's so much more success coming your way with that mindset. That mindset's just huge. So what's one of, like, your best practices that you implement in your business? Is it the relationship building? What's your what's your best practice? You think.

[A]

Relationships. Relationships. Leverage, Leverage. So for example, when I say leverage, not just leverage and loans, but leverage. Anyone that you know, right? If I say, if I tell my assistant, hey, go do the go, go, go find this out for me. If he doesn't know anyone that. If he goes through his whole contact base or anyone at the company that. If he doesn't know how to do it, right. And he contacts people from the company and they don't know how to do it, then you contact people that you know, right? You get where I'm going with this, Joe? Like, figure it out.

[B]

Yeah, right.

[A]

Leverage anyone that you know to leverage all the resources. Leverage all your resources, right? Number three, fitful. You know what FIFO is? No Marine Corps term. Figure it the out. Figure it the out. And no one cares. Solution oriented. I don't care about the problem. Give me the solution. Right? We are solution oriented. Number four is follow up. Follow up is so key. You'd be surprised at how many more loans you could win if you simply sent a text or a phone call. Hey, Joe, how are you doing today? Just checking in on you, man. Let me know if there's anything I can do for you. They just heard Joe call, right? Or if I call you now, you remember Malad, right? I'm top of mind. And let's say you're a real estate agent now, any lead that you get, you're thinking about me because I just called you. So follow up. Just touch, touch your database. It's not hard. And be organized, right? Like on Mondays, do one thing. On Tuesdays, do another thing. On Wednesdays, do another thing. And Thursday and Friday, go to open houses. You know, go to open houses. Go stay in open houses or go around in your car on the weekend, drive around, take your video walking for with you and pay him $500 for the whole day. Say, hey, here's 500. I want you all day with me and map out 50 open houses and see how much business you'll get out of that. And show up and say, hey, we just want to make a quick highlight video of your house to a real estate agent. That one, that. Who's doing that? Number two, that set, that's you're differentiating yourself from everybody else. Number three, how many agents are you going to pick up from that? So it's always, you got to think outside the box. Because when you think outside the box, that's where the money is.

[B]

That's right.

[A]

You can't think about these. What? Look at what everyone's doing and do something even better outside the box. That's how I built my business. Being different. Everything about me is different.

[B]

Yeah.

[A]

You know, and you're not gonna win everyone's business being different, but if you attract the masses, you're a fake motherfucker, in my opinion.

[B]

You know, that's where we really connect is because we're both pretty crazy.

[A]

Yeah.

[B]

And we both think really outside the box.

[A]

Yeah.

[B]

Just the younger version.

[A]

Yeah. I'm. I'd say some people say I'm like insane for my ideas, but I'm saying like, dude, Elon Musk is insane.

[B]

Yeah.

[A]

You know, you got to be insane to think that you can.

[B]

I hear insanity daily.

[A]

Yeah.

[B]

Daily. It's just part of. You just gotta embrace it. I love it.

[A]

Yeah, me too.

[B]

I love being crazy.

[A]

Me too.

[B]

A couple last questions and we'll wrap it up. Is. I know you're not married yet, but, you know, I always like to ask this because I know you got. You're, you're rooted with your family. So it's a three pronged question. What's a personal goal that you have for yourself? What's a goal that you have for long goat this year? And what's a family goal that you have this year?

[A]

Can you repeat the first one? Personal goal for myself.

[B]

Yeah. See, you don't care about yourself. It's all about other people. That's what I love about you.

[A]

Personal goal for myself is slimming down, getting in better shape. I want to get back down to 180. I'm at 210 right now.

[B]

Okay.

[A]

Which I think I can.

[B]

I think I helped by not taking you to lunch today. We got meal prep today.

[A]

You did.

[B]

Thank you. Like, let's go to lunch, you know. No, no, no. We're gonna eat meal prep. Oh, man.

[A]

Yeah. Getting back in shape. Just feeling good again. You know, I've, I've, I've been so focused on business and business because I, I'm like in love with what I do.

[B]

Yeah.

[A]

I truly am. Like, I'm in the office.

[B]

I know. I. You're at the office till 1am and then you go home and sleep five, six hours and then you go back to the office.

[A]

It's fun. I love helping people. I love helping people. And I'll problem solve them. So it doesn't feel like a job to me at all. I'm sure. Like this. Do you feel like you're at work?

[B]

No. I mean, I love this.

[A]

This is just a lifestyle and that's where. That's where you become the best.

[B]

Yeah.

[A]

Is you have to fall in love with what you do. Like how you're in love with your wife, you'll love with the job. It doesn't feel like a job. Number two, you said is a goal for long goat. Yeah, that's a good one. By the end of the year, I want. I want everyone else. So I've got a team of like, I want to say six or seven loan off, seven loan officers I believe under me right now. I want them to collectively do $100 million together. Let's go without. Without my production. Because I found that my purpose is actually helping others, showing others the opport the way. Like that. That's really my.

[B]

And I want to help you guys do that so that. That's where the real success is.

[A]

It's like. So I brought on Jimmy, you know, from another mortgage company, and he didn't understand non qm and he wasn't closing any business there. And I showed him the way. And you know, how you structure the deal. And you know what a bank statement loan is versus a profit and loss loan. And here's what a DSCR loan is. And here's what this is. Asset depletion. Here's which lender you should send it to. And he's closed like five or six loans in the last.

[B]

Let's go. That's awesome.

[A]

And like, being able, like seeing his.

[B]

Face and having no money, I know he was struggling financially, you know, and like that.

[A]

That, like, that makes my heart discouraged.

[B]

Now he's pumped.

[A]

Yeah.

[B]

He make a ton of money too. Like, I heard. I saw something like, about him making. He had ed 50 grand or something in last month. And he makes him crazy.

[A]

Yep, yep. Yeah.

[B]

He's never seen money like that.

[A]

So I'm like, man, like, like, making money for myself is cool, but, like, making. Making someone else money, oh, man, that's perfect. That's like passion. Like, I was. I'm like, I. That pumped me the up. I was like, oh, my God, I have to create more jimmies. So that's when I was all right, that's super, officers.

[B]

People always say, like, you know, I've had the. My greatest joy is when I could interview my competitor. Even though they'll start their own company. Like, come over. I'll interview on the show. Like, let's talk about your journey, your success. Like, I have no greater joy than to make others more successful than me. I would love to see you more successful than me. It's like that's just like my, my goal in life. Like, I don't care about, you know, competition or, you know, is this guy a threat to me? Like, no, I want to see people thrive.

[A]

Yeah.

[B]

You know, that's that.

[A]

So you have such an open and, you know, giving, you know, personality and heart. Not a lot of people. There was more people like you in this world, you know, like, you know.

[B]

The mission of this podcast is to make more people at least understand that mindset because that's, that's an abundance mindset that's going to help others thrive, you know?

[A]

Yeah. The third one was a goal for my family.

[B]

For your family. Family goal.

[A]

Family goal. I'm moving my family here within the next couple months, so buying them a. Just having my family all in one city, you know, buying. Buying them a house in East County, San Diego, and, you know, just having my family, my mom, my dad, my two younger sisters here. I've been alone for the last 10 years and that's made me very, very strong. And you can't break me at all.

[B]

Yeah.

[A]

You know, I learned it all now.

[B]

With your family, you're going to be undefeatable.

[A]

Yeah. Yeah. And I just can't wait for some home cooked Middle Eastern food and.

[B]

Yeah, the best of the best food.

[A]

Yeah.

[B]

Mama's cooking is the best.

[A]

Yep.

[B]

I'll be coming over.

[A]

My house is your house.

[B]

Yeah. And then the last question I have, and I love to end this podcast with this question, is when you're in front of the pearly gates, what's God gonna tell you?

[A]

Never heard of that one. Well, that's a good one. What's God gonna tell me when I'm in front of the pearly gates? I wish there was more you. I love giving back. I'm, you know, I. I'll say, Joe, there's a lot of people that say, you know, I'm the best person. I'm the best person. I'm the best person. You go ask about my name anywhere. And I couldn't you if I tried, you know, I just, I can't. I. I'm too nice of a person.

[B]

All right, there you go, bro. We love you. We love having you. Thanks for coming on the show, man. Thank you for winning. Keep dominating. I would love to see your success. I love to see you keep thriving. I love your spirit. What you're doing for the EMC community as a whole, what you're doing for your los, keep thriving. Make sure that each and every one of those guys, it's that goal that you have in mind because when they accomplish that success and you accomplish another level of new heights and new success and new abundance. So God bless you. Blow. God bless your journey, and we love having you.

[A]

This is just the beginning, my boy.

[B]

Let's, let's go. Coffees for closers. Milad Shamoon down or see of long goat. Make sure to follow him. Thank you guys for watching. Thank you, guys.