6/27/2017

I had a job interview today. It was with a company called BlueBOLT Funding. That’s right, the mortgage industry.

It’s been nearly four years since I’ve originated loans, but I’m excited about the idea of getting back into the market. I was good at loans. I made good money when I was a banker. And the idea of doing something that I’m good at excites me.

There are some challenges, however. First, for this particular company, I have to be licensed with the Department of Real Estate, which means I have to take another test. I’m not worried that I’m gonna fail. It just means I can’t begin originating right away. I have to do 20 hours of studying, per the state. And then I have to sit for the test. So it takes time. Time I could be originating loans. But, it is what it is, and I have to have it.

I also need to get caught up on the rules and regulations of the industry. Not just rules and regulations, but the new and different products that exist. A lot has changed in the mortgage industry since 2013, and I need to get caught up on those changes. Not all of the changes are rules and regs. Some of the changes are in the products, credit standards, and technology.

But at the end of the day, my goal is to make $50,000 per month. I know I can. If my average commission is $5,000, and I can close 10 deals per month, I can get to $50,000 per month. Obviously, it’s going to take a lot of work, but I’m ready to do it.

First, there is that activity chart Mike Rady from PrimeLending gave me. I will execute on that plan.

I have some other ideas too.

  1. On Saturday’s, in the morning go to Ralph’s and purchase 5-8 lunch salads and teriyaki bowls. Drive throughout the surrounding communities – downtown, Hillcrest, Pacific Beach, Point Loma, etc. – and bring lunch to the realtors who are hosting open houses. These realtors are very busy, and they usually can’t leave the open house to get lunch. Bringing them lunch is a great way to build a relationship.
  2. Mortgage professionals aren’t always the most technical people. I think there is an opportunity, then, to dominate SEO keywords. I want to rank on the first page of Google when people search for keywords such as “interest rates in San Diego,” “how to buy a house in San Diego,” and more. I think I can generate some inbound traffic by winning the SEO game. I’ll let the big guys spend money on the expensive AdWords. But I have to win on SEO.
  3. It’s possible I can use my iPhone and make a daily video talking about interest rates that day, where the mortgage market is heading that day, and how people can act on that information. Or, the content can be about how great San Diego is, and why people should live here and finance a home here.

I have other ideas too. But ultimately, to be successful at mortgages – and anything, really – is to commit. Commitment to being the best. To doing to requisite work. Putting in the necessary time. Becoming an expert on the mortgage products, investor overlays, and underwriting process. Working from 9am to 9pm, six days a week. Mastering the sales process – having a good elevator pitch and unique value proposition, building relationships, asking questions and solving the borrower’s problems.

Still, I’m confident in my skills to close deals because I’ve successfully done this before, and I know what it takes to do the job. That gives me confidence. Now I just need to bring and get that $50,000 per month! Let’s go!!!