APRIL 2020
THE OFFICIAL MAGAZINE OF GERACI
INSIDE: EDDIE WILSON
AAPL
Sam Kaddah FOUNDER & CEO
LIQUID LOGICS
SURVIVING AND THRIVING
COVID-19
John Ingoglia
Socotra Capital PRIVATE LENDING
DURING THE CORONA VIRUS MEASURING THE ROI OF YOUR
Marketing Efforts TOP 3 LEAD GENERATION Ideas For Private Lenders www.originate.report 1
2 Originate Report April 2020
CONTENTS APRIL 2020
Features 15 From Cold Lead To Cold, Hard Cash:
Measuring The Roi Of Your Marketing Efforts
By Romney Navarro, Noble Capital
6
22 Surviving and Thriving in the Era of COVID-19:
Industry Leaders Share Tips For Private Lenders
By Anthony Geraci, Geraci LLP; Carrie Cook, Ignite Funding;
Brian Mingham, CFSI Loan Management; Gary Bechtel, Money360;
Pavel Tchourliaev, Mortgage Automator
12
32 Conquering Culture: The CIVIC Differenceâ„¢
Originate Report Staff
39 Top 3 Lead Generation Ideas For Private Lenders
By Abhi Golhar
42 Private Lending During the Corona Virus
By Edward Brown, Pacific Private Money
18
Who To Know 6
Sam Kaddah - Liquid Logics
Originate Report Staff
12 Wisdom From The Ceo
Eddie Wilson - Owner & CEO, American Association of
Private Lenders (AAPL) & Think Realty
22
18 Industry Spotlight
John Ingoglia - Socotra Capital
In Every Issue 44
Upcoming Events
46 Lender Directory
39 www.originate.report 3
Revenue diversification
Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial
TODAY’S MARKET OPPORTUNITY: •
•
•
100 billion dollar non owner-occupied investment space SFR ’s 1-4 Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial Diversify product offering and add new revenue opportunities you may be missing out on Legally compensate your most prized relationships (Realtors) for referrals
WHAT TO LOOK FOR IN A BROKER + CAPITAL PARTNER RELATIONSHIP: • • •
Concierge across product offering with underwriting, training, service and support Dedicated call center for loan origination support and fund control Marketing materials provided including product tear sheets, pitch decks and web banners
In today’s market, refinancings have limited availability and there’s not much new housing inventory to lend against. For mortgage Brokers, this means the obvious; there are a lack of transactions in the market to profit from. For shops that are only doing refinance or traditional mortgages, opportunities only come around every 5-7 years. You’ve got to have a big client base to have volume. With financial products across SFR ’s 1-4 Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial, the sales cycle is faster, there is significantly higher recurring business, and a few lenders have teams dedicated to helping you succeed.
BROKERS, PARTNER TODAY
4 Originate Report April 2020
Think of it as a new product offering which results in the diversification of your potential revenue. All of this is well within reach, and much easier than you may think. The NON-O/O investment space is a 100 billion dollar industry that has come full circle since the last market downturn. Over the last decade private lending has been growing, and the comeback of property investors is at an all-time high. Here’s what it takes to do these types of loans and a good private lender will handle these things for your Brokerage… • • • • • • •
Review and process loan applications Document collection Facilitate Appraisal Coordinate Title & Escrow Complete underwriting Facilitate Funding Pay you
Traditional Realtors and Mortgage Brokers have the misconception they need an NMLS license to be a lender in this product space. The main point in dealing with a private lender is while they primarily fund SFR’s, these loans are governed under commercial guidelines. Thus we are not governed under RESPA, TRID or TIlLA. These loans are funded only into business entities allowing 7-10 business day closings and can pay anyone under a Brokerage license a referral fee or commission on the HUD at closing. There are two avenues a Brokerage launching this type of product to Real Estate professionals can expect to see. You can be a Correspondent Partner (the lender would fund in your name)
http://triumph.capital/brokers
or an Origination Partner (the client would see the lender’s name on the HUD). Most deals are funded under a single set of product guidelines allowing training, underwriting and servicing to be easily understood. CORRESPONDENT PARTNER (CP): You look and feel like the lender, a complete white-label product. ORIGINATION PARTNER (OP): Traditional Broker + lender relationship, lender shows on HUD. A full concierge service for Broker partners handling everything from A-Z is an entirely new model for private lending and Mortgage Brokers / Real Estate professionals. Working with a direct lender enables Mortgage Brokers to keep the lion’s share of the profit and have the potential to earn from the yield spread as well, all while monetizing on much more frequent lending transactions, instead of the normal 5-7 year customer lifecycle. There many private lenders chasing this strategy and it’s safe to be wary of who to work with. While choosing a partner, look for someone who understands the business and has a strong reputation for closing transactions. You’ll also need support with marketing materials. Having the right documents and product tear sheets (one-pagers) for conversations, trade shows, etc. is helpful in positioning the opportunity with your existing book of referral business from Realtors.
For more information call
877-450-9741
ROB JENNINGS robert@triumph.capital
GEORGE O. FLINT goflint@triumph.capital
CEO Geraci LLP ANTHONY GERACI Anthony@Originate.Report Vice President Geraci Media RUBY KEYS Ruby@Originate.Report
Letter
from the
Editor
Editorial Director MAX BERGER Max@Originate.Report
“I am a firm believer in the people. If given the truth, they can be depended upon to meet any national crisis. The great point is to bring them the real facts.” -Abraham Lincoln
Art Director LYNDA HIGHT L.Hight@Geracillp.com
Welcome to the April Edition of Originate Report! Our lives have changed quite a bit since last month. The threat of COVID-19 and mandatory self-quarantine guidelines have had major impacts on the world, the economy, and certainly our industry. No one is sure exactly how long this will continue, or how bad the fallout will be. For now, all we can do is take things one day at a time, stay informed, and try to maintain a sense of normalcy and continuity in our personal and professional lives.
CONTRIBUTORS Anthony Geraci • Pavel Tchourliaev Brian Mingham • Gary Bechtel • Carrie Cook Romney Navarro • Edward Brown Abhi Golhar • Sam Kaddah Eddie Wilson • John Ingoglia FOUNDING UNDERWRITERS
MARK HANF President, Pacific Private Money ORIGINATE WEBSITE www.originate.report GERACI LAW FIRM www.geracilawfirm.com MEDIA WEBSITE www.geracimediagroup.com CONFERENCE WEBSITE www.geracicon.com
The team here at Geraci is committed to helping you get through these trying times. We are providing weekly Covid-19 newsletters filled with invaluable resources from SBA loan requirements to actionable advice from our attorneys about how to protect your assets and mitigate potential issues that may arise in response to current events. Additionally, we have been providing weekly Rapid Response webinars to educate you about your options and bring together leaders in the industry to share their struggles and answer all of your questions. Our website is also frequently updated with new information that applies to our industry. Geraci will be here with you every step of the way as we weather this current economic storm. Stay healthy, stay safe but most of all stay sane. This too shall pass and new opportunities will be created as a result. How you respond to them will pave the way for your future.
Max
Max Berger Originate Report Editorial Director www.originate.report 5
PROFILE
Sam Kaddah, Founder & CEO Liquid Logics
SAM KADDAH
Founder and CEO of Liquid Logics By Originate Report Staff
T
he distance between Syria
founder and CEO of Liquid Logics.
Founded in 2004, Liquid Logics
and Lee’s Summit, Missouri
Kaddah, who was raised in Syria,
provides a next-generation cloud-
is just over 6,500 miles.
said the values he learned growing
based
No one understands this better,
up have transferred themselves to
– or LOS – that is primarily geared
perhaps, than Sam Kaddah, the
heightened business acumen.
towards
6 Originate Report April 2020
loan
origination
hard
money
software
lenders.
The
system
the
borrower
was
built
around
and we are always, always going
Valley’ because of the products it
beyond,” he said. “If you want me
offers, but this isn’t the case. Kaddah
emphasizes its simplicity and speed
tomorrow...we’re
you.
also said his own friendliness comes
for loan officers. At the end of the
What sets us apart is our knowledge
from growing up in a self-described
day, Sam said there are a number of
and our service. And we’re not just
modest family composed of teachers
simple factors that separate Liquid
techies, we’re industry experts. And
and a school principal.
Logics from ‘the rest of the pack.’
we are friendly and we’re there for
experience;
this
there
for
you any time you need us.” “For
us,
[our
most
important
differentiators are] service, trust,
This friendliness is partially due
and
understand
to Liquid Logics’ Midwestern roots
[our clients’] needs, we have the
– Sam said that many people may
knowledge to solve their problem,
think of his company as ‘Silicon
knowledge.
We
“Personally, I think [many people] would be surprised to learn how humble
and
down-to-earth
we
are,” he said. “People think of us completely differently but at the end Sam Kaddah: Continues on pg. 8
www.originate.report 7
Sam Kaddah: Continued from pg. 7
of the day, we are just heads-down, Midwest people.”
electrical engineering from MIT.
what I do. I started from zero with
After graduating, he worked with
just my knowledge and didn’t really
mammoth household names like
have any other help.”
Ernst & Young and General Electric.
This mindset, often referred to colloquially as ‘Midwest nice,’ is something Kaddah tries to inject into every aspect of his business.
Armed only with a background in “So I started as this little kid with
engineering and an unstoppable,
humble beginnings, coming halfway
can-do attitude, Kaddah ran a global
around the world for electrical
operation for General Electric across
engineering,”
I
four continents for a $408 million
should
quickly learned how to work hard
division. This role expanded his
with
naivety
and understand the markets and
experience
nonconventional
lending
understand the dynamics. I put in a
productivity, skills that would prove
space; far from it in fact. After
hundred hours a week worth of work
invaluable once Liquid Logics opened
beginning his secondary education
for years until I got to a level where
its doors. Kaddah also ran Ernst &
in Syria, Sam earned a degree in
I was comfortable and had mastered
Young’s upper Midwest practice for
This not in
‘niceness,’ be the
however,
confused
Sam Kaddah, Founder & CEO Liquid Logics
8 Originate Report April 2020
he
said.
“And
with
technology
and
e-commerce and security, which
with a different type of product.
the chart as the system of choice,”
amplified his web-related acuity.
As for the end-to-end technology
he said.
platform, Sam said this came On
the
heels
of
this
varied
experience, Kaddah took a leap
from a lack of competent systems
Kaddah added that starting his
in the space.
own business has been a difficult, yet
of faith and decided to make the
‘highly
rewarding’
process.
shift to hard money lending and its
One
Northeast
Part of Liquid Logics’ success, he
related technology.
Kaddah talked to said its existing
said, stems from a ‘large company
system had ‘many deficiencies.’ In
mindset’ despite its situation as a
From day one, he said, Liquid Logics
addition to these pitfalls, he said
smaller unit.
focused
hard-to-underwrite
the company also wished to have
services such as Alt-A, HELOCs, and
one system to manage investment-
“The number one challenge, I would
subprime products. By straying from
related processes, as opposed to
say, is being able to adjust to thinking
the ‘easy sell,’ Kaddah said his team
numerous programs to manage
big and working small,” he said. “I’m
was able to attract prospective clients
one-off functionality. This seemed
used to global organizations and
like
for
larger budgets and a larger staff,
Kaddah, who altered his existing
so the biggest challenge was how to
on
company
a
golden
in
the
opportunity
system to accommodate the private lending space.
complete system and specialize it and trim it down,” he said. “We trimmed it down to the private lending products and offered it out to the market. Lo and behold, we found out that there’s actually a big market for it and a big gap – the minute people knew we existed, we started getting flooded with people wanting to move to our system.” This specialization, in the eyes of Kaddah and his team, allows Liquid Logics to better serve its clients. “This allows us to focus on a highly specialized vertical and lets our workflow and management and and
and
implement
it
in
a
small
organization and adapt to that.”
“We were able to evolve an existing,
servicing
apply the big enterprise capabilities
loan
origination
expertise be concentrated on one area – that puts us at the top of
Despite the challenges associated with thinking big while being small, Kaddah said this dichotomy has not stood in the way of Liquid Logics growing to its current size. With a development, quality control, and production environment successfully established,
Kaddah
said
this
infrastructure allows his team to provide 24/7 support. It goes without saying that technology plays a substantial role in the dayto-day operations of Liquid Logics – everything from the complicated underwriting process to regulatory concerns are managed by a complex network of cables; looking forward, however, Kaddah said the everchanging
technological
landscape
Sam Kaddah: Continues on pg. 10
www.originate.report 9
Sam Kaddah: Continued from pg. 9
will be the source of countless hours of navigation and thought. Technology as a whole, he said, will give companies – not to mention individual agents in the field –
As technology’s role in real estate
However, when the market turns,
evolves, he added, Liquid Logics –
or the market not necessarily turns,
not to mention his competitors – will
but saturates, it’ll be necessary for
all strive to stay on top of trends.
everybody to understand different pockets. After all, there’s no such
“I think the analytics and the
thing as a national market.”
intelligence that you can collect from transactions to fine-tune products
Understanding the different facets of
insight as to where efforts need to
and target specific markets is going
not only real estate, but technology,
be concentrated, where the most
to be paramount [moving forward,]”
will be an important attribute of
profitable markets are, and the
he said. “Today, everybody is making
Liquid Logics moving forward, Sam
ability to leverage those data points
a lot of money and they look at it
said. One area specifically where
into a more robust business model.
from that perspective, as a take-all.
massive changes are occurring, he
Sam Kaddah, Founder & CEO Liquid Logics
10 Originate Report April 2020
added, is the way in which lenders
an [automation] is. Those who think
Sam’s head, one could reasonably
are interacting with technology ‘in
automation is a bad thing, think
assume that any work-life balance
the field.’
you’ll produce bad widgets. Those
is nonexistent. This is not the case,
who think automation is a good
however, as Sam said this phrase is a
Sam said Liquid Logics is planning
thing, think your productivity, your
on ‘going 100 percent mobile in
capacity, and your top and bottom
our application.’ When origination-
line will be directly affected; you’ll
related software began populating
get higher profits at lower costs and
the offices of mortgage professionals
increase your capacity.”
software
implies work is something that I
Although he added that automation
transfer
can positively impact a business,
have to do so I can live. If you enjoy
different elements to mobile devices,
he said that companies large and
what you do and you value every
however, office-bound PCs begin
small should be cautious about over-
part of your life, whether it’s work
collecting dust.
reliance on this facet of technology.
or whether it’s your son calling you,
These concerns take a back seat,
it doesn’t matter. I will stop any
“We are going into a kind of
however, when the economy takes
meeting at any moment when I get
comprehensive
collaboration
a turn for the worst. Kaddah said
approach,” he said. “This means that
Liquid Logics has the tools necessary
a call from my son and talk to him.”
all parties and their [handheld
to thrive during less-than-handsome
devices] can participate in the
monetary conditions, but added that
same loan, the same record, and
the economy – like automation – can
have everything transparent to
be fraught with misconception.
As
go’
thing as work-life balance. It implies
seemed
ludicrous.
‘to
“I don’t really believe there’s such a that work is a burden,” he said. “It
in the 1980s, the thought of taking that
bit of a misnomer.
agents
“Do I believe that we are coming into with
daily act helps him clear his mind.
a downturn? The economy is cyclical.
revolution is a substantial industry
That’s the nature of the economy
“Every day I take a minute, open my
interest
Some
and natural things, so things will
garage door, walk outside, and take
automated
happen regardless,” Sam said. “And
a deep breath of that fresh morning
elements as a boon to their bottom
it’s also affected greatly by politics,
air first thing in the morning,” he
line – heavily incorporating them
not everything under our control...
said. “Those are the most precious
into software – while others take a
so when the economic downturn
more Luddite approach, cautioning
comes, if it comes, we are positioned
moments, where you can enjoy
against
of
to manage both ends of that equation
automated
where nobody else does. I think we
processes. To Kaddah, automation is
will be positioned neatly to be able to
a ‘double-edged sword.’
transition these assets and manage
automation.
professionals
jobs
the
mobile
racquetball court. Just as important
phone
in
the
he said that he is no stranger to a to him is mental acuity; a simple
everyone involved.” Paired
On the off chance Sam has free time,
view
potential
associated
with
loss
them separately in our system.” he said. “That has been the issue with
With
automations forever. People have
automation, technology, and the
their own misconceptions of what
market
–
of
these
swimming
concepts around
And I do that religiously, every day. It doesn’t matter if it’s snowing or if it’s one hundred degrees out. It’s worth it just to enjoy that early morning feeling before heading out
“There’s nothing new under the sun,” all
everything by just closing your eyes.
– in
for my day.” FOR MORE INFORMATION VISIT: https://liquidlogics.com/
www.originate.report 11
WISDOM FROM THE CEO
Eddie Wilson Owner & CEO, American Association of Private Lenders (AAPL) & Think Realty
12 Originate Report April 2020
in the first place. One great piece of advice that I received in college from a professor was, “Never lose a contact.” He said, “Your greatest asset is the data that you keep.” Back then it was stored in a Rolodex that had everybody’s business
cards
in
different
sections. Now, it’s all digital. I am a consummate networker. I love to network and I rarely lose people’s contacts. I have a very basic system where I’m able to capture info from everyone I meet. I typically connect on social media nearly immediately after meeting them or talking with them, and then I reach out to them often and frequently. And so in my personal database of contacts that I have, I’ve got close to 100,000 that I’ve collected over the years. And that’s just my personal contacts.
E
Within my business I take the same
Eddie Wilson, Owner & CEO American Association of Private Lenders (AAPL) & Think Realty
approach. Up until last year I had
ddie graduated from The
Branding, Marketing and Innovation
Ohio State University with
in Business.
and Marketing. He also studied
What is the best and worst piece of
marketing at Georgia Tech and
advice you’ve ever received?
business management at Emory
The worst advice I’ve ever received
University. He is most known for
was to put profit first in your
taking a talk radio station in Atlanta
business. I know that’s a little bit
to the level of “Most Listened to
outside of what someone would
Station in the World” (Radio and
typically tell you, but I believe that
Records Magazine, 2002). He has
a thriving, growing business puts
owned his own advertising agency
people first. First your employees,
and worked with clients including
and
Pepsi, Procter & Gamble Co., Buffalo
understand that profit is important
Wild Wings and Mail America. He
to
is now owner and CEO of American
growing, however if it is your main
Association of Private Lenders and
focal point and what you put all
Think Realty and speaks across
your emphasis on, oftentimes you
the country including well-known
can take advantage of the people
universities
that made your business successful
on
the
topics
of
keep
your a
a few of those last year, but I still have close to 10 businesses that
a degree in Broadcast Sales
then
nearly 80 businesses. I sold quite
customers.
business
alive
I and
I own and operate. And the total data, or touch points, that I have for consumers or people we talk to, in just the businesses that I have, reaches into millions of people. And so I’ve never struggled with that. It was an early lesson and it has been the catalyst to the success I’ve had. What habits or mindsets have helped you succeed as a business owner? I love to work. So for me, work is life. I don’t necessarily need a work-life balance because I feel like I’m most balanced when I’m Eddie Wilson: Cont. on pg. 14
www.originate.report 13
Eddie Wilson: Cont. from pg. 13
putting effort and time into the work that I love. One of the habits that I have is I break down my day into activities that ultimately meet the requirement or the need that I have, versus breaking my day down into work time, play time, and family time. I think any time can be work time, play time, and family time. I take a chunk of my day and break it down so that I’m spending percentages of my day thinking and creating, like creating content or vision for the businesses that I run. I spend a percentage of my day just doing tactical things that I know I have to get done. What is the most difficult period of time during a startup journey and why? What helps you to work through it?
Very rarely do I get into that middle
it, then hire somebody that can be
region of a business startup where
100% focused on it. If you can’t hire
I have to determine if I actually
someone to be focused on it and
want to put the time and effort into
you can’t be focused on it, then you
scaling that business. So I’d say the
shouldn’t be starting that business
most difficult period of time is after
in the first place. It’s crucial to have
the first level of growth, and then
one person that’s solely dedicated
learning to say no and being okay
to its success or failure. And if your
with where it is. It leaves time for
process of dedicating yourself leads
other opportunities.
to failure, at least you know that you’ve given it everything you have.
What has been your favorite aspect
You don’t question the choices you
of being an entrepreneur?
made.
I boil my life down into three words: time, wealth and purpose. Being an entrepreneur allows me to have the freedom of managing my own schedule, and doing what I want to do when I want to do it. It also has provided me the catalyst to create and sustain the lifestyle that I want. And that time that I have control of, and the wealth that has gotten me there, allows me to live out that
When I’m in the startup mindset,
third piece: purpose. Purpose is
I’m putting everything into it and
when I look at my life for the greater
I’m excited about the idea or the
good that it could accomplish, and I
customer. And early on in any
put those time and wealth resources
business that I started, it’s kind of
into creating something that makes
a fail-fast model. It’s either going
my life more valuable than just the
to make it or it’s not. That’s not the
businesses I own or the people that
hard part. The hard part is when I
I touch. It actually transcends that
actually find some success, but then
and starts to make a difference in
I’m in this transitional period of
this world.
point I have to decide, once I get the
What
business off the ground, do I want
someone who’s starting their first
to scale it? Is it self-sustainable?
business?
And is it something that I want to
I
do for the rest of my life? A lot of
they have to be all in, and 100%
businesses come out of a great idea,
dedicated to it. They have to give
and once that great idea is created
up on everything else for a time.
and I’ve found a business process
To always have a Plan B ultimately
for that idea, it’s fulfillment enough.
diverts some energy from that
I’ll hire a staff to run it or operate it.
business success. If you can’t be in
14 Originate Report April 2020
key
activities
do
you
recommend entrepreneurs to invest their time in? I think there are two activities that every
entrepreneur
or
business
leader should conduct. First, they should be involved in networking of some sort within their relevant industries. Every great opportunity I’ve ever had in business came through a people connection, so it’s absolutely critical. The second activity I would recommend is finding alone time where you can sit and think, taking the world’s distractions
from
your
mind.
Especially as an entrepreneur, where you get inundated with 24 hours a day of business. Steve Jobs and Bill Gates, for example, had their own processes they went through. They
taking it to the next level. And at that advice
would
What
offer
would
the
you
advice
offer
that
called them ‘walkabouts,’ and they would go sit in a cabin for a week or something similar. I think it’s important to get alone with your thoughts and really dissect them down, to write down your ideas and formulate processes to bring your ideas to fruition.
FEATURED
From Cold Lead To Cold, Hard Cash:
MEASURING THE ROI OF YOUR MARKETING EFFORTS By Romney Navarro, Noble Capital
E
very business lives and dies
return on investment (ROI). There
a social media campaign and the
by its Profit & Loss (or,
are many ways to track the success
“real world”. It’s even more difficult
more accurately, because of
of digital marketing campaigns
to track “terrestrial” marketing
its P&L). Whether you’re a Private
which involve measuring clicks,
efforts such as radio, TV, a magazine
Lender, or you run a hamster rodeo,
impressions, website traffic and
ad or a piece of printed collateral
your business has to take in more
the like. Many marketers consider
money than it sends out. But it’s
a form fill or a click to your website
more than just tracking capital ins
a conversion and use that metric
and outs, you also have to justify
to evaluate the performance of
the return on every dollar spent,
their campaigns, but they’re rarely
including your marketing budget.
able to tie revenue directly back
Whether your marketing efforts
to their marketing efforts. Where
consist of digital or traditional
it gets tricky is bridging the gap
methods, you have to understand the
between
something
digital
like
all the way to the bank, so to speak. How can you calculate your actual ROI on marketing spend without knowing how much revenue you’ve brought in as a result? Digital Tracking Tools Some of the more common methods Cold Lead to Cold, Hard Cash: Cont. on pg. 16
www.originate.report 15
Cold Lead to Cold, Hard Cash: Cont. from pg. 15
of tracking conversions involve what I’ll call platform analytics. These can include such things as Facebook’s Insights reporting dashboard,
Analytics
or services like HubSpot which can give you great visibility on the audience size, interactions, clicks and website traffic. But the information you gain from
digital tracking methods and every
for segmenting leads from discrete
detail of how they operate. Just to
campaigns.
provide some context to the “open end” of the marketing funnel in
Take a radio show, for example. It
the modern digital landscape. The
can be difficult to track a terrestrial
point is that, unless you run an
or non-digital marketing campaign
eCommerce business, the internet
to the point of first contact. If a
has no way of knowing if any of
potential lead goes to your website
these digital interactions resulted
or contacts you as a result of
in revenue.
hearing your show, how do you know
that’s
where
they
came
Tracking Leads from the “Real
from? There are a few ways that
World”
you can funnel them into trackable
In addition to taking advantage
communication
of all of the digital marketing
on a call-to-action given on your
luxuries we have access to these
radio show (or TV show, podcast,
days, you may (and should) also
magazine ad, billboard, etc.). The
be
marketing
first method would be to set up an
methods like radio, television, and
email address pinned to a specific
print publications that regularly
campaign which is not public and
touch your target audiences. But,
is not used for any other purposes.
tracking leads from these types of
Then
traditional sources through to the
the
point of conversion is even more
information about our services,
tracking pixels. These are like
complicated than doing so for
visit radio@lendingcompany.com”,
little voyeuristic snippets of code
digital campaigns. The reality is,
you know how to classify those
that gather information about the
it’s not always feasible to ask every
leads.
individuals interacting with your
potential new client how they
ads online. They can be used to
heard about you. And even if you
The same idea applies to a dedicated
measure online conversions on a
did, they may have been exposed to
URL. You can usually purchase
specified page of your website or
your company in multiple different
domain names for relatively cheap.
to serve retargeting ads to people
places (assuming you have an
So, if you prefer to funnel them
who have visited your website,
aggressive
strategy),
through your website and track it
among other things. Another tool
so that input isn’t always the most
through Google Analytics, you could
you can use is a UTM (Urchin
useful. The solution, then, is to
direct that URL to a standalone
Tracking Module) code. A UTM
build multiple marketing funnels
landing page and your call-to-action
code is a section of text appended
– both inside and outside of the
could be, “to learn more about
to the end of a URL which allows
digital sphere – using dedicated
us,
you to track visits to that URL, so
contact
of
com”. Finally, in conjunction with
you can evaluate the performance
capturing and tracking real world
a dedicated URL and a purpose-
of campaigns associated with that
leads by assigning dedicated email
built landing page, you can create
specific URL.
addresses, URLs and even phone
a contact form specifically for that
numbers. This isn’t a new idea, and
campaign. That way, you’ll know
The purpose here is not to provide
it’s certainly not rocket science.
leads submitting that contact form
a
But you can utilize these methods
came by way of a given campaign in
these analytics platforms are still relatively limited in depth. More
savvy
digital
marketers
have a few sharper arrows in their quivers to evaluate digital campaign performance. Tracking codes can provide a more granular view of the marketing funnel than broad analytics platforms. Those who have used Facebook or Google AdWords might be familiar with
comprehensive
discussion
16 Originate Report April 2020
of
using
traditional
marketing
channels
capable
if radio
visit
your
channels
based
call-to-action
show
is,
“for
on
more
lendingcompanyradio.
addition to capturing their contact
to the campaign that pulled them
information. It’s also a good idea
into the marketing funnel.
to include in those forms a “how
in the future. Never Settle for “Good Enough”
did you hear about us?” dropdown
From there, it’s simply a matter
Marketing is not an exact science,
option just to reinforce the lead
of following them through the
but it’s not simply an art either;
source.
sales process. When and if you’re
it’s always a combination of both.
able
Your
to
convert
them
into
a
company’s
processes
and
The Real Work Starts Now
borrower, you will know exactly
methodologies
Though many marketers would
how much revenue resulted from
new leads should never be static.
consider these events conversions,
that campaign, and you’ll be able
For any business initiative to be
to calculate your “real” ROI from
successful, you have to continually
that marketing spend. But that’s
evolve. If you don’t get the results
not the only benefit of this process.
you
Not only can you evaluate the
evaluate why then refine it and try
effectiveness of your marketing
again. Marketing moves quickly
spend
resources
these days, and there are always
accordingly, you’ll also learn a lot
new tools at your disposal. It’s
about your sales process. If you’re
important to be both open to new
unable to close a loan with some
ideas and critical of the results. If
of the leads that have made it into
you are, you’ll always be able to
the sales process, you should be
improve the outcome. But tracking
able to see at which point they fell
your business through the entire
off. That can help you continually
marketing funnel from cold lead to
improve your sales operation and
cold, hard cash is a good place to
practices to produce better results
start.
you
can’t
calculate
your
ROI
without following them all the way to the point of sale which, in our case, is closing their loan. Whether your leads enter the marketing funnel from a digital or nondigital campaign, you now have to coordinate those efforts with your business development and/or sales teams. Whatever information you’ve gathered from the first contact from your leads should be compiled and organized into your CRM or even into a spreadsheet. If your campaign incorporated a dedicated email address or URL with a contact form, you will at least have captured a name and email address; you can backfill additional
information
as
it
becomes available. Then all of those leads should be tagged according
and
allocate
would
for
expect,
attracting
you
should
ABOUT THE AUTHOR: Romney is a partner at Noble Capital and Co-founder of the Private Lender Network (thepln.com). He specializes in financing renovation and construction projects through private capital. Romney has more than 16 years of experience in the real estate industry. Contact: rnavarro@noblecapital.com
www.originate.report 17
SPOTLIGHT SPOTLIGHT
INDUSTRY SPOTLIGHT
Checking back in with our inaugural cover feature!
John Ingoglia
Socotra Capital
18 Originate Report April 2020
over-night. Like 9/11, COVID-19 in many ways came out of nowhere. I ended up moving from New York to San Francisco in 2002. remembered
that
out
of
I
work
stockbrokers drove cabs in the 70’s, so that is what I did. I was angry and really messed up from both the economic disaster and the human tragedy of that single day.
A year later, I landed a job
with a commercial real estate firm doing leasing and investments in Sacramento. There I met Adham Sbeih who helped finance several of my real estate deals. It was than in 2008, when he shared his vision and concept of Socotra Capital, to do hard money loans during this next bust. Adham had a proactive approach: he wanted to lend money when institutions were not lending. In
November
2008,
I
joined
Adham and we did just that: We made loans when the institutions were not lending. It was hard. It took us 6 months to make our first loan together. John Ingoglia, President Socotra Capital
Q: How did you first get your
decade until the very end. It was
start in loans and investments
much like how it is now.
and have you ever faced anything
9/11 and our current crisis, the
like COVID-19?
COVID-19 pandemic, the fear is
I got my start in investments at
both life and economic.
a young age. From Sacramento,
the streets that were once vibrant
I really wanted to go to the East
at all hours of the day, were empty
Coast to learn the game. In 1994,
for a long time after that day. No
I attended Boston College studying
tourism. No nightlife. People were
finance and ended up becoming
hurting. It was a very sad time and
a Financial Advisor in New York
a strange time for the entire city.
during the dot.com bust in 2000
We all experienced it together. It
and 9/11 in 2001. I had a great
happened literally in one morning,
With
In NYC,
We helped rebuild lots of areas that were hit hard by the meltdown. Now we face this new challenge. It seems like a much greater threat to our economy and well-being however we will do what we set out to do from the beginning: make loans when institutions are not lending. Q: How do you see Socotra Capital perform during this challenge of world pandemic and financial crisis? Entering this event, our portfolio John Ingoglia: Continues on pg. 20
www.originate.report 19
John Ingoglia: Continued from pg. 19
was
positioned
as
defensively
as possible. We had a portfolio average LTV of 47%, $1.9M in loan loss reserves held at the fund level in addition to $1.4M in reserves that we held at the individual loan level. We manage $250MM in loans and investments and have no debt. We will be in a great position to
Q: What has been one of your
failures come when I fail to teach
biggest successes and one of your
rather than coach or vice versa. A
biggest failures in your career?
true leader leads by not being seen.
My biggest success at Socotra is
When I take over, I forget that I am
helping investors and borrowers as
not often serving the client or my
a team. Our team consists in large
team, but my own ego. I see this
part of graduates of UC Davis. We have energy that we carry through to our clients, both to our investors and to our borrowers. Working remote, it’s ironic, since in many ways, we have become closer. The
lend again to serve our borrowers
growth and leadership within has
and clients in these trying times.
been tremendous.
Our biggest
great crisis in many ways as their time to lead and take charge. And the reality is: They want to do it! Q: What is something that most people would be surprised to learn about you? One thing people are surprised to learn about me is that I am in Saturday Chinese School with my son.
We take Mandarin. Wo shi
zhong guo ren. Wo da zhongwen mingzi Liu Ban! Which means “I am Chinese. My Chinese name is Liu Ban!” Q: How has your company vision evolved from Day 1 to Today? We named our company Socotra Capital, which is the name of an island, also means “peace of mind.” We were founded in 2008, during the last crisis.
Our mission is to
provide a place for those looking for refuge, both investor and borrower. Socotra is a place to make a sound investment. We want to make good loans to weather any storm. Q: Before Shelter-In-Place, what did you do in your free time? When not in quarantine like this, my free time is split between family time and mixed martial arts. My wife, Shirley Liu and I are actively raising our four children: Presley (from left to right) John Ingoglia, Mike McIntyre, and Urijah Faber, AKA “The California Kid,” Hall of Famer UFC
(16), Antonio (7), and Santino and Coco (twins, 17 months)! When I am not at home or at work, I train at
20 Originate Report April 2020
Urijah Faber’s Ultimate Fitness with the best in the world in fighting. I enjoy that very much as well. It’s often the most relaxing place during my day to settle my mind. Q: What is something that most people don’t know about your company? What people don’t know is we have offices and employees that cover most of the Western United States and Texas. We love North Carolina and Georgia, and have opened a new platform into the DC area including Virginia and Maryland. Q: What does success look like for you? Since inception, over our 12-years in lending, we have not lost any investor principal.
The newest members of the Ingoglia family, Santino and Coco
“Seek first to understand, then to be
coach and mentor. Honor your
Q: Tell us about a person or
understood.” It is a habit, the fifth
commitments. There are no outside
organization that you admire.
one, from Seven Habits of Highly
forces that govern you. You are,
Why do you think they have made
Effective People. I read it in college.
in fact, the master of your own
an important impact?
I say it almost every day to my
universe. Be prepared and don’t be
Charles
Hershson,
AKA
Uncle
team. To truly problem solve, and
Chuck. “55% LTV loans, and you can
to be synergistic, one often needs
make it through any downturn!!!”
to change their own paradigm to
He started 5 decades ago, he would know. We are currently at 47% on average in our $250MM we manage. We are unsure where this market will take us but feel strongly about our principals. Thank you, Uncle
create win-win solutions.
Q: If you were stranded on a desert island with access to one
Q: What mistakes have you seen others make in this industry? How does Socotra Capital avoid
Chuck, for inspiring us.
making those same mistakes?
Q: What advice would you give
lenders are focused on winning the
your younger self?
late. It’s no one’s fault but your own.
Mistakes I have seen are when deal rather than the borrower or
book, one song, and one movie, what would they be? If we were stranded on the Island of Socotra, and I was stuck with one book, one song and one movie, what would they be?
One book:
The Fountainhead. One Song: Bob
their investors.
Marley’s “Get Up, Stand Up,” since
Q: What is your favorite quote?
movie, it would be a Keanu Reeves
Q: What is one piece of advice you
“Be impeccable with your word
movie for sure. The first Matrix
have learned and carried with you
and responsible for all of your
movie or his most recent movie,
throughout your life?
outcomes,”
John Wick: Chapter 3.
The advice my grandfather gave
we are on an island.
me: spend a little, save a little.
–
Ken
Doyle.
My
As for the
www.originate.report 21
FEATURED
Surviving and F Thriving in the Era of COVID-19:
our years ago, Geraci set out to really adopt technology and infrastructure to allow our
people to work wherever they are in the world. We rapidly grasped that the world was moving from PC’s and desktops to cell phones and mobility. After
INDUSTRY LEADERS SHARE TIPS FOR PRIVATE LENDERS
hours
of
research
and
adjustments, we came down to use the following: Technology We adopted the following technology
Dear Readers,
W
e have received a lot of inquiries in the last few weeks regarding how we set up a remote office. Rather than just responding to people individually with our own experiences, we thought this topic warranted a deeper dive and a more thorough examination. Not only will we elaborate on the steps Geraci LLP has taken to maintain efficiency
22 Originate Report April 2020
that forms the basis of our firm: and continuity during these trying times, but we will also be sharing
1. Ringcentral
insights from other industry leaders
We use RingCentral as the backbone
who are working through the same
of
challenges.
where
Wherever we are, we have access
you live and work, the mandatory
to our office phones as a result. As
quarantine looks to be the new
long as we have our cell phones or
normal for at least a while longer;
Wi-Fi coverage, the RingCentral app
so in the meantime, let us help you
will ring as if we were in the office.
make the most of it.
As a business that relies heavily on
Regardless
of
our
communications
hub.
our phone system, this is absolutely
that infrastructure, you could use
will help you any way we can. Stay
mission critical for us.
Dropbox or box.com as a great
healthy, stay safe, but most of all
alternative to be instantly remote.
stay sane. This too shall pass and
2. Zoom.us
new opportunities will be created as
We have over 50 people that work at
4. Slack
a result. How you respond to them
Geraci. In order for us to meet and
We message each other through
will pave the way for your future.
move our priorities forward without
an app called Slack. It is free and
being able to meet physically like
accessible for desktop or on cell
- Anthony Geraci, CEO
we used to, we have adopted and
phones.
Geraci LLP
harnessed zoom.us as our virtual meeting room as well as our platform for team meetings. The connectivity and interaction it is almost as good as being physically present with each other. Each month we have our All Hands meeting, and last week was the first time we did it completely virtually. It went very well. 3. File Server Our files are all on a remote server
Putting it all together Our meetings are calendared and hosted just as they would be in real life. The only difference is we get together over Zoom. For any interactions between people, we could either directly call them, video chat or send instant messages via Slack. Our banking, transactions, closings, etc. are all completed via the internet.
that can be accessed from anywhere,
if you have any questions on how
by anyone on our team. For those of
we did it or any other needs at all,
you who have not already invested
feel free to reach out to us and we
Anthony Geraci, CEO Geraci LLP
Industry Leaders Share Tips: Cont. on pg. 24
www.originate.report 23
Industry Leaders Share Tips: Cont. from pg. 23
T
here is one word to describe
their new temporary environment.
to discover the creature comforts of
my
As the leader of the company, I
the office we missed most (come to
knew that it was my job to maintain
find out the employees missed the
the strong company culture that
employees most). Day Eight Carrie
We are headquartered in Las Vegas,
I have cultivated for a decade.
gathered the list of creature comforts
Nevada and as our management staff
My employees expect change and
to prepare for dissemination to
monitored the situation closely as it
even
in
employees’ homes to make the next
became apparent to us on Monday,
technology and adjustments to our
30 days a little easier (they do not
March 16th that we needed to start
portfolio to meet market demands
know this is coming yet). Day Nine
implementing our Contingency Plan.
while mitigating the risk to our
we implemented Zoom to try and
This planning could not have started
investors
diversification.
meet the creature comforts request
a minute too soon because within
We are now fully embracing the
through video conferencing, which
48 hours the entire city of Las Vegas
technology that allows us to work
was hilarious, and thank goodness
was a ghost town. Our Governor
securely from our homes without
for our millennial staff who teach us
addressed the residents of Nevada at
clients experiencing any change in
new things every day.
6pm on Tuesday, March 17th, and at
the level of customer service or the
8am on Wednesday morning I rallied
availability of investments.
team
and
that
is
RESILIENCE.
embrace
improvements
through
I know you were probably expecting something very serious, but during
my management staff and then the employees at 9am with a social
Every day I mass communicate with
distancing meeting in our training
all employees in a fun interactive
room to inform the staff that it was
way. Our culture is ‘work hard, play
time to fully test our Contingency
harder.’ Here are some examples of
Plan, so let’s put it into action. A
the activities that have transpired in
communication was sent to all
the first nine days of our virtual office
investors and posted on our website
experience; Day One started with a
that Ignite Funding will maintain
Magnolia Manifesto quote that ended
“business as usual” in a virtual
with
environment from our homes. By
Day Two was ‘guess whose virtual
noon the office was cleared out with
office this is,’ and we also had a
the exception of two members of
baby join our family on that day.
management and we were enacting
Day Three we hit an all-time record
our virtual office environment. By
funding week of over $22 million.
8pm we confirmed that all employees
Day Four was ‘selfie count’ on your
were virtually ready for the next day.
phone to guess who had the most.
#itslonelywithoutemployees.
these times we need to remember that the comradery of employees is what matters most. As the President, I’m proud to tell everyone that I have become the virtual assistant to all my employees while they stay safely planted at home during this time. - Carrie Cook, President Ignite Funding
Day Five was from the fairygodboss. The first day was rough with the
com Hump Day challenge questions
technology, but we quickly fixed
(Ignite Funding style) and boy, did
every issue promptly as to not
we learn a lot of hidden secrets about
allow our employees, investors, or
employees! Day Six was a virtual
borrowers to build up frustration
COVID-19 themed dance-off with a
as the country was acclimating to
$100 prize. Day Seven it was time
24 Originate Report April 2020
Carrie Cook, President Ignite Funding
A
few tips for those of you
like you have your “own” space
who are new to working
A lot of people don’t have home
from home.
offices, so dining room tables and
This can be a tough transition while dealing with the COVID-19 pandemic, having your kids home from school, and still trying to
corners of bedrooms become your makeshift workspace. It adds stress to the rest of your family because they feel you are still there to support
A
s we become acclimated to working remote based on State or Federal guidance
during the COVID-19 pandemic, it has become necessary for companies to quickly and seamlessly transition from an office environment with everyone in the same location to one
manage a household… But here is
them, but you have to balance staying
how we are helping our team.
focused for uninterrupted periods of
This
time so you can still get your work
continuity as people work through
1. Keep your routine the same
done. A lot of mistakes can happen
making
Wake up at the same time, eat, shower,
with frequent interruptions, and this
get dressed, brush your teeth, and get ready to walk out the door.
can cause frustrations for you, your manager, and your employer. Take a deep breath, take a little extra
2. Log on to your system, grab
where no one is physically together. has
disrupted
necessary
business
changes
and
adapting to the “new normal” during the shelter in place policies adopted by the federal government as well as many states, counties and cities.
time to get acclimated to your new
Businesses, especially those with a
environment, and communicate with
large brick and mortar presence and
your
your manager on any issues so they
back-office staffs, were probably the
manager and your team members
can offer advice/suggestions for a
most impacted. Putting in place the
will keep you focused on the tasks at
successful “work at home” experience
hand and help you feel like you are
for the next several weeks as we get
still part of your team.
through this challenging time.
your coffee, and check in with your manager Keeping
in
contact
with
3. Get up and move around Take breaks, stretch, walk around a
- Brian Mingham, Founder & CEO CFSI Loan Management
remote takes time to implement, and can lead to a loss of productivity and a potential a loss of revenue. Time will tell how long we will all be hope it’s not for too much longer!
the office you are routinely getting up for coffee, talking to another
At Money360, from very early in our
person in a group down the hall – you
history, we began building an end-to-
are moving, at least semi-regularly.
end, secure, proprietary technology
At home we have a tendency to sit
platform
in one place and just keep working.
for
the
origination,
processing and closing of our loans.
Next thing you know, it’s 4:30 PM
Having this in place allows our
and you forgot to eat, shower, or
employees the ability to work remote
brush your teeth. That is why you
yet still have all the functionality as
must keep your routine.
from everyone allows you to feel
their employees the ability to work
operating under these policies, but I
bit, and get your blood flowing. In
4. Setting up your workspace away
infrastructure and policies to allow
if they were in the office. So, whether Brian Mingham, Founder & CEO CFSI Loan Management
they are traveling for business, on Industry Leaders Share Tips: Cont. on pg. 26
www.originate.report 25
Industry Leaders Share Tips: Cont. from pg. 25
vacation, or sick, etc. they have the same functionality as any other team member no matter where they are physically located. This includes accessing
the
Company’s
loan
pipeline, closed transaction folders, and all supporting documentation. We already had most of our Regional Directors (who originate our loans) working remote, as well as a handful of back office personnel occasionally working remote because of family needs or for other reasons. We also heavily utilize Microsoft Teams, which allows us to hold oneon-one meetings or collaborate as a team. Teams allows us to share
in the same location and the normal
best in these unprecedented and
physical interaction that goes with
trying times in our Country’s history,
it does change the way business is
but we are Americans and will get
conducted, but from a productivity
through this! Unfortunately, it will
standpoint, we didn’t miss a beat.
come at a steep cost; with the loss of
My advice to other companies still
livelihoods. My hope is that we and
working
through
this
transition
would be to utilize commercially available
products
like
Zoom,
WebEx, Slack etc. to get their employees sharing information and
this and take steps to reduce threats like COVID-19 in the future. - Gary Bechtel, President Money360
Teams has worked great for us and I’d recommend that depending on what platforms companies are currently operating on. At this point, it’s probably too late to build the kind of technology platform that we have at Money360, but it might be
pertinent information utilized in the
something to consider in the future
business. So, for us, the transition to a
as companies revisit their office/
remote only workplace was relatively
staffing/business strategies.
painless. As is to be expected, it does
26 Originate Report April 2020
our government will all learn from
working together. Again, Microsoft
our screens, documents, or other
take some getting used to; not being
many lives, businesses and people’s
I wish you and your families all the
Gary Bechtel, President Money360
S
taying Efficient during
key to minimizing this overhead.
Since
COVID-19
We have already been using Slack
processed via ACH, you can collect
for internal communications, but
your
Mortgage Automator is a complete
we switched to Zoom for video
without having to see anyone for
end-to-end loan origination and
team
their paper checks, thus adhering
servicing
private
more personal, crack a few jokes,
lenders. Our product development
and maintain sanity during the
pipeline
quarantine.
in
software is
advance
for
scheduled and
months
adhering
meetings
to
keep
things
monthly payments
payments within
are
minutes
to the social distancing protocols. Similarly,
your
investors
won’t
even have to hit pause on that
to are
better
Netflix show they’ve been binging.
than
others,
They will receive beautiful monthly
so we increased the number of
statements automatically with a
working
internal meetings in order to keep
complete update of their portfolio
remotely these days. While at the
everybody aligned. We have even
and outstanding loans.
office you can simply ask someone
created lunch socials and started
a quick question, now that question
using phone apps like HouseParty
This level of automation reduces
has to be a call, a video meeting,
to play team games and keep up
the need for constant supervision
or multiple messages sent back
the morale.
and empowers team members to do
the schedule is a top priority,
Some
regardless of where we work.
communicators
Our
entire
team
is
people
more work, independently, error-
and forth. You can be an absolute efficiency ninja and it would still
free and in less time. For all those
Keeping clients going
lenders that are struggling to keep
take you more time. We call this ‘communication overhead.’ Keeping the team organized is the
More
importantly,
Mortgage
Automator
keeps
the
clients’
businesses
going
during
this
difficult time. We enable our users to have a highly process-oriented approach,
including
actionable
tasks that can be assigned to any team
member
and
tracked
up during these times without proper software, tell us about your challenges and we’ll help get them sorted for you from the comfort of your living room. - Pavel Tchourliaev, Co-Founder Mortgage Automator
to
completion. Automated document generation allows for LOIs, Term Sheets and Funding Documents to be generated error-free in under 1 minute; and a user-friendly web-interface can be accessed from any remote location, on any device, including a phone. You can get all the work done and still have plenty of time for those walks to the fridge or to walk your dog if you have one.
Pavel Tchourliaev, Co-Founder Mortgage Automator
www.originate.report 27
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Online and Over The Phone Payments
The ® Your Ultimate Lending Platform
(800) 833-3343
www.TheMortgageOffice.com
Applied Business Software, Inc. 2847 Gundry Avenue, Long Beach, CA 90755 sales@absnetwork.com
28 Originate Report April 2020
PRESS RELEASE
Applied Business Software Announces Exponential Growth on its Services Department LONG BEACH, Calif., March 31, 2020 - Applied Business Software (“ABS”), is excited to announce record growth in the Services Department for the fiscal year 2019. In the 2019 fiscal year, ABS experienced a 38% growth in their newest service: printing, stamping and mailing of 1098 and 1099 tax forms. ABS is the only software provider in the private lending space to offer this service from within its loan servicing software platform. ABS has a long history of providing cutting edge technology to the lending industry. They were pioneers in providing their customers the ability to file directly with the IRS, from within The Mortgage Office© and The Loan Office©. This growth is attributed to increased awareness of the multitude of services offered by ABS and the ever-growing necessity to have an automated back office system with centralized services. ABS’s constant product innovation for the last 41 years and multi-licensing options continue to make The Mortgage Office the industry leader. “We are thrilled to see our customers using this service. We aim to be a one-stop shop for them and know they appreciate the integration and seamlessness this service provides. From filing directly with the IRS, all the way to having their 1098 and 1099 forms printed, stuffed and mailed with a couple clicks. Services integration is one of the many ways we continue to innovate daily as we understand how essential we are to our customers’ business.”, says ABS CEO Carlos Nodarse. About Applied Business Software Applied Business Software is a market leader and global provider of software systems and solutions to the lending industry. ABS offers a complete suite of software products designed from the ground up to specifically address the needs of those who originate and service loans. All its products are consistently rated superior in design, system interface, expandability and ease of use. ABS continuously updates its product line, always keeping it ahead of the curve with ever changing technology, and compliant with the rules and regulations that affect the lending industry. It offers Cloud Hosting, SaaS and Perpetual License options which address the needs of any size company. ABS is based in Long Beach, California. For additional information about ABS’s products and services, visit www.themortgageoffice.com or call (800) 833-3343. Elizabeth Morales, Chief Marketing Officer www.themortgageoffice.com | (800) 833-3343 | elizabeth@absnetwork.com www.originate.report 29
BUILD YOUR 2020 VISION
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SUBSCRIBE NOW ORIGINATE.REPORT/SUBSCRIBE www.originate.report 31
CULTURE CORNER
Habitat for Humanity Playhouse Build: The #CIVICCARES team joined together with Habitat for Humanity of Greater Los Angeles to build life-size playhouses for local children of an orphanage and veterans’ families.
Conquering Culture: The CIVIC Difference™ CIVIC
By Originate Report Staff
C
IVIC takes pride in being
specializes in the financing of non-
world, the CIVIC brand is not
a
lender
owner occupied residential and
what they describe it as. It is not
real
multifamily properties — but only
just a logo. It is the sum of their
estate investors through excellent
when they go further does any of
customers’ total CIVIC experience
this ultimately matter. And this is
— from the website, to phone calls,
why its culture is key.
to processes and documentation,
service,
best-in-class
that
empowers
providing
lending
solutions for real estate investment
to how they handle questions and
needs. As an institutional private
GO FURTHER™ is CIVIC’s Brand
solve problems, and how they treat
money
Promise. And it matters. In today’s
one other.
lender,
the
company
32 Originate Report April 2020
“At CIVIC we have a genuine focus on making sure our employees are equipped with ongoing knowledge and access to career-building resources. Not to mention, it really is possible here to develop your career and maintain balance between work and life … it’s just not a new concept to us.” - Taryn Barnett, Manager, Learning & Development Taryn Barnett Manager, Learning & Development
Since its inception in 2014, CIVIC
The CIVIC Core Purpose: Enriching our
customers. In between good and
has taken a hands-on, innovative,
people, partners, and communities
great lies a space that requires people to step up and step in,
and people-first approach – leading to its successful growth of over 300
Enriching our PEOPLE
and this is where CIVIC digs deep
employees, an energized culture,
CIVIC is proud to be recognized
and lives out their core purpose
(two years in a row!) as one of
and values every day. They Go
the Best Workplaces by FORTUNE
Further. They pay attention to
and Great Place to Work®! Based
the details. They take ownership,
on employee voting and feedback,
accountability,
the company has also ranked as
finding solutions. They help their
and a core purpose extending to serve the communities in which they live and work. From hiring incredibly
hard
working
and
passionate individuals, to creating fast,
honest,
simple
lending
opportunities for its customers, CIVIC’s core ideologies are the
one of the Best Medium-Sized Workplaces,
one
of
the
Best
Workplaces in Financial Services & Insurance, and among the Top
backbone of the company – and
100 Best Mortgage Companies to
CIVIC’s clients, believe it or not,
Work For. They are committed to
are the ultimate benefactors.
being a transparent environment where employees are encouraged
“Our values mean everything,”
to ask questions and be heard. So,
says William J. Tessar, President
yes, their business is in real estate
at Civic Financial Services. “They
investing … but it’s known (and felt)
guide everything we do and drive
company-wide that their greatest
us
investment is in their people.
to
do
everything
possible
to maximize our potential. We believe that the way we treat our
Enriching our PARTNERS
employees is the way they will treat
CIVIC’s success in the private
our customers – and this is where
lending arena is a result of an
our Brand Promise comes to life.”
unrelenting focus on the belief that the way employees are treated
So here’s an inside look at exactly
will naturally lay the foundation
what this means.
of how employees will treat their
and
focus
on
customers dream big while doing what is expected, but also doing the unexpected. They accelerate success without sacrificing quality. Enriching our COMMUNITIES CIVIC believes there is no better thing you can do with your life and your work than to follow your passions in a way that serves the greater good. CIVIC is committed to giving back to its communities and supporting the causes they care
about.
They
rise
to
the
occasion to lend a helping hand, and come together as one. They are proud to be a Corporate Champion of Wounded Warrior Project®, a partner of Habitat for Humanity®, and a supporter of national disaster CIVIC: Continues on pg.30
www.originate.report 33
CIVIC: Continued from pg. 29
relief efforts. The team serves at soup kitchens, cleans up our beaches, donates blood, and has even created a Military Discount Program to benefit our military service community. Whether on an individual volunteer basis, or
big things, what are you doing
transparency is paramount and
when no one’s watching? Are you
directly translates into a culture of
diligent? Do you have a thoughtful
inclusion, knowledge, recognition
approach and relentless pursuit
and success for teammates and
of success for others? They ask
clients alike.
themselves these questions every day, and acting with honor guides
CREATE SMILES
every decision they make.
CIVIC’s employee engagement is skyhigh — ranking among the top 5% of
through collective group events,
BE A GREAT PARTNER
companies nationally — and their NPS
food drives or fundraisers, CIVIC
Push boundaries. Lend a helping
and customer ratings are higher than
employees live and breathe the idea
hand. When it comes to taking
the industry average as well. Happy
of helping to make our communities
care
employees = happy customers!
better and helping those who may
going above and beyond, they
not be able to help themselves.
pay attention to the details, take
SIMPLIFY
ownership, and find solutions.
Moving quickly and growing fast
The
CIVIC
Core
Values:
of
its
relationships
and
means tapping into the power of
Act
with Honor, Be a Great Partner,
COMMUNICATE CLEARLY
innovation.
Communicate
Proactive, concise and genuine.
eliminating the fluff. CIVIC strives for
The
delivers
efficiency and leverages technology.
information with urgency, clarity
They are intentional - continuously
ACT WITH HONOR
and resolve, and leaves nothing
refining
From the little things to the
open to interpretation. Top-down
complexities, and optimizing results
Clearly,
Create
Smiles, Simplify
CIVIC
team
Being
their
process,
The Core Values of CIVIC: Act with honor, be a great partner, communicate clearly, create smiles, and simplify.
34 Originate Report April 2020
straight
and
reducing
by working smarter.
hold long term, or to acquire
CIVIC has access to institutional
multifamily real estate for cash
capital
in-house
flow, they have a focused team
“We
encourage
our
control over the lending. This
and set of products that empower
take
chances,
have
means fast answers, a smooth
investors to build wealth through
push boundaries. We elevate our
process, on-time closings and a
real estate.
team members by helping them
and
complete
growing product portfolio – all
impacts its customers. people fun,
to and
develop, learn, and Go Further
designed to better serve their
At CIVIC, they go further by taking
– and this creates a ripple effect
customers. Whether the intention
that one extra step in everything
of happiness, transcending to our
is to buy a single-family home
they do. By supporting one another
customers, that we could not be
to flip, to leverage an existing
and going further, a little bit at a
more proud of.” – Merced Cohen,
portfolio
time, that is how their brand truly
EVP, Operations
of
rental
homes
to
“We work hard, we play hard, and we celebrate often. Fun is one of the essential ingredients in CIVIC’s unique culture. Happiness is the secret sauce.” - Sophie Kim, SVP, People & Culture
Sophie Kim SVP, People & Culture
CIVIC: Continues on pg.32
www.originate.report 35
CIVIC: Continued from pg. 31
Encouraging Recognition: The CORE Challenge grand prize, a Tesla Model E. CIVIC’s Opportunities for Reaching Excellence is a year-long program encouraging team recognition and development opportunities to achieve our business goals; all while having fun through a game and points system.
The President’s Club: Top producers in Sales and Operations were recognized during CIVIC’s annual company event, uniting employees from all offices around the country.
The CIVIC Coin: The CIVIC Coin dawning the company’s core purpose on one side, and core values on the other, makes its way around the globe as employees submit their photos with the coin as part of an ongoing contest.
Supporting What Matters Most: Team members at CIVIC headquarters in Redondo Beach on National Wear Red Day, sporting their red in support of heart disease awareness.
Celebrating In Style: Team members join together to celebrate the milestone of CIVIC’s 5th Anniversary.
36 Originate Report April 2020
“When you spend so much time with your work family, the ‘why’ really matters. To be part of a company with such a clear purpose, real values and contagious camaraderie is a true joy.” - PJ Chan, Marketing Software Manager PJ Chan Marketing Software Manager
“I love that we all know our voices really matter. The value placed on employee feedback makes it known that all of our ideas are important -- and this is what inspires me every single day.” - Collin Hoffman, Sr. Marketing Specialist Collin Hoffman Sr. Marketing Specialist
CIVIC BENEFITS, PERKS & COOL STUFF • Competitive Salary
• Company Celebrations
• Performance-based Bonuses
• Grand Idea Rewards
• 401K (Matched)
• Community Outreach Opportunities
• In-House Investment Opportunities
• Team Building Events
• Medical, Dental and Vision Insurance
• Electric Car Charging Stations
• Optional Health Care Plan Choices
• Employee Recognition Awards
• Free Snacks & Beverages
• Culture Squad
• Monthly Town Hall Company Gathering
• Ticket & Rental Car Discounts
• 50% discount on CIVIC Swag and Apparel
• Casual Fridays
• Employee Referral Program
• Offices all over the Country
• Workout Tuesdays
• The Daily Pulse Company e-Newsletter
• Continuous Training and Development
• Top Gun Training Program
• Coaching and Mentoring
• Internship Program
• Scholarship Program
• CIVIC Coins
• Catered Meals Several Times Each Month
• Ongoing Employee Surveys
• New Hire Dinners and Welcome Gifts
• Daily Team Huddles www.originate.report 37
38 Originate Report April 2020
FEATURED
Top 3 Lead Generation Ideas For Private Lenders
A
By Abhi Golhar recent
study
revealed
that close to 92% of new mortgage
Not sure where to begin? I’ve got
the marketing space right now, but
your back!
how can you capitalize on it as a
borrowers
private lender?
before
In this article, we’ll discover 3 lead
approaching a lender. In the same
generation ideas that will enable
conduct
online
research
vein, 66% of homebuyers favor handling their mortgages entirely online over manual methods. What does this imply? There’s a great deal of leads out there waiting to be tapped. All you need is a few robust strategies that will help you score these high-quality leads
you to get more leads and convert them into clients. Let’s do this! 1. Sponsor a Dinner to bring Influencers together (and film it!) According to this study by Tomoson, influencer marketing yields a $6.50 return on investment for every
that are on the verge of getting
dollar spent.
converted to long-term clients.
It’s easy to see why it is the talk of
“All great change in America begins at the dinner table.” -Ronald Reagan The answer is simple: sponsor a dinner to bring influencers under one roof. Sponsoring a dinner encourages word-of-mouth
marketing
in
a
huge way. More often than not, Top 3 Lead Generation Ideas: Cont. on pg. 36
www.originate.report 39
Top 3 Lead Generation Ideas: Cont. from pg. 35
influencers who attend this dinner will have a positive interaction with your brand and continue to talk about your offering and the amazing time they had even at a later time. If your company’s name or logo appears on their social networks, you have an additional opportunity to reach more clients. Filming part of the dinner for your social media channels is an effective method for amplifying your reach. A number of social networks today offer a live story feature. You can easily live stream the dinner. Once eventually, more revenue.
prominent names in the lending
Staying on top of SEO takes a lot of
space get seen in your events, it’s
experimentation as well as research.
certainly going to get leads flowing
Google’s algorithms are continually
Getting to page one of the search
your way.
updated so it’s important to stay in
results is important since 75%
line with the newest happenings.
of users don’t even click past
can
With this in mind, and a bit of
effortlessly bring together private
practice, you can become your own
lenders,
bankers,
SEO expert in no time!
financiers
and
These
types
of
dinners
corporate
other
lending
Google’s first page. If your content accurately
represents
what
the
visitor is searching for, that visitor turns into a lead, and eventually a
professionals. This will not only
As more and more users ignore or
explore and delineate the new
completely block paid search and
lending eco-system and innovations
ads, it has become more critical
in credit risk assessment, product
than ever to exercise SEO to your
origination,
contact
best advantage. Search engines
strategies, and AI; but also get new
(and the people using them) look
opportunities
partnerships
for high quality content that has
your way, getting your lending
value related to their search, and
search the internet for something
company the exposure it needs.
ideally, you would like them to
like “Fast funding for renovation in
engage your company. If you’re not
Los Angeles”. Now, if you take this
2. Master Google SEO with
displaying that quality content, you
search query to be your keyword
Organic Content
will miss out. In fact, you probably
and build your landing page or even
This report by the Search Engine
already are.
a blog piece around it, the chances
fintech, and
Journal states that 93% of all online
For example, if a lead is looking for a lending company that can approve
their
renovation
loan
within a short time span in Los Angeles, they’re probably going to
of your company being displayed
experiences begin with a search
Once your website begins to rank
engine. Well, duh. But, that’s exactly
in the first pages of Google’s search
why search engine optimization
results through organic content,
(SEO) is so crucial to your lending
you’ll get more visibility. This means
company’s online success.
more traffic, more conversions, and
40 Originate Report April 2020
client for your lending company.
in the said lead’s search results considerably increase.
3. Create meaningful video
help grow a business isn’t new and it still holds true. Your network is struggling with different types of problems. You can easily pick one and make a quick video that helps to solve it. Uploading the video to LinkedIn will give it all the more exposure. Since LinkedIn’s audience is traditionally business-focused,
your
chances
of being found and scoring leads considerably increase. Here’s What Lies Ahead The content for your local market &
about how he uses screen recording
upload it to LinkedIn
to discuss a fixed rate versus a
Video is a highly engaging and
variable rate or other in depth topics.
versatile content format that not
Jason admits he is 99% virtual and
only keeps us informed about the
rarely gets the opportunity to meet
latest advancements taking place
his clients; because of this, he uses
within our niche; it’s also easy to
video to build relationships and
share across multiple platforms.
help his clients tackle this heavy
Consumers like it because it’s easy to digest, and entertaining, while we lenders like it because it can give a potentially huge return on investment. Jason Roy of Quantus Mortgage Solutions is well-known within the lending realm for having utilized a video marketing strategy for generating leads and expanding his business. In a recent interview, Roy told BombBomb how he’s shifted from scripted, professional looking videos to more personal, one-to-one videos over time. Btw, maybe consider not creating videos when you’re driving?
information on their own time. Finally, Jason explains his “mortgage minute videos” and how they’ve
state
of
real
estate
lead
generation is evolving at a rapid speed. What brought in great leads at an affordable rate a few years ago might not necessarily have the same impact today. In the end, it all comes down to maintaining good terms with your network and showing them that you care. Call people to congratulate them about their milestones and
helped him grow his business.
that brings results, guaranteed.
Creating meaningful video content
and top of mind. Take birthdays,
for your local market is a lead
for example—every day, Facebook
generation
here
will tell you whose birthday it is, so
to stay, given that video drives a
instead of just posting a birthday
157% increase in organic traffic
message on their Wall, pick up the
from Search Engine Results Pages
phone and call them.
strategy
that’s
It’s a great way to stay connected
(SERPs). [Almost all] of the people you call The
idea
sharing
that
will appreciate it, and guess who
free
will they recommend or work with
information can
when the time is right? You.
ABOUT THE AUTHOR: Abhi Golhar helps companies grow faster. Learn more at AbhiGolhar.com
In this interview, Roy also spoke www.originate.report 41
FEATURED
Private Lending During the Corona Virus By Edward Brown, Pacific Private Money
T
he 1918 influenza pandemic has frequently been compared to the Coronavirus outbreak we are currently experiencing in the world today. Varying government agencies have taken similar steps to those during 1918’s pandemic to quell the spread of the Coronavirus; isolation, quarantine, use of disinfectants, and limitations of public gatherings. These measures seem to be the fastest way to rid the general population of this kind of virus. During these times, the economic effects are dramatic. An article by Thomas Garrett, written in 2007 by Assistant Vice President and Economist for the Federal Bank of St. Louis that examines the economic effects of the
42 Originate Report April 2020
1918 influenza pandemic, indicated an eerie parallel to today’s world. Merchants in Little Rock stated their business had declined 40%. Others estimated a decrease of 70%. The only business in which there had been an increase in activity was the drug store.
over the 1918 pandemic; countries around the world have taken the above-mentioned steps in the early stages of today’s pandemic. With the advent of the internet, many workers can perform their jobs at home. Companies such as Amazon still make home and office deliveries. The proactive measures that the
One difference in the two pandemics seems to be that the one in 1918 was reactive, whereas the current one appears to be proactive. In 1918, not only were businesses hit hard by the isolation/quarantines of people – few people could enter an establishment to conduct business – but the number of workers affected by the illness were tremendous; thus, the labor force and the income derived by them had decreased substantially. The current pandemic has, potentially, some advantages
world is taking will, hopefully, curtail the coronavirus so that it is short-lived and we all can get back to a relatively normal life. However, the economic impact of this virus cannot be ignored. Garrett points out that “most of the evidence indicates that the economic effects of the 1918 influenza pandemic were short-term. Many businesses, especially those in the service and entertainment industries, suffered double-digit
losses
in
revenue.
Other businesses that specialized
charging higher points and interest
occur. These investors will demand
in healthcare products experienced
as the supply of money has shrunk.
a lower loan-to-value on the loans
an
Some
Private lending companies derive
they are making in addition to a
academic research suggests that the
most of their capital from individual
higher interest rate. Private lending
1918 influenza pandemic caused a
investors. Many of these investors
shortage of labor that resulted in
are skittish during uncertain times.
companies that previously sold to
higher wages (at least temporarily)
When the supply of money seemed to
for workers”.
be endless, especially in California,
increase
in
revenues.
rates and points charged were at How does this affect the private
historic lows [in the private lending
lending sector? In early February
community]. The demand for loans,
2020, prior to the US Government
however, has not been dramatically
implementing guidelines to help
affected yet. The reason for this is
eradicate the virus such as no public
that the supply of money provided by
gatherings of more than 250 [since
conventional lenders has diminished.
lowered to 100 and in some cases,
Since conventional lending makes up
10], there was an ample supply of
the majority of capital available to
money flowing into private lending.
lend, this factor has more than made
In addition, the capital markets
up for the slower demand of loans
were healthy and hungry looking
needed. Although some borrowers
to place money in loans. The stock
have cancelled their applications
market was at an all-time high of
for loans due to uncertainty, there
over 29,500. By March 20, 2020,
always seems to be a need to serve the
the stock market dipped below
borrowing community. People still
19,000, a loss of more than 35%.
move, loans come due, refinances as
Investors, as well as bankers, pulled
rates drop still occur and these loan
back their appetite to place funds,
requests need a home.
would-be providers of capital to sit
Individual investors are demanding
on the sidelines, as most tumultuous
an
markets make investors anemic.
historically low rates. This could be
in
yield
pay their investors a higher rate to attract money; thus, they will have to charge the borrower a higher rate. They will most likely also increase their spread at what they charge the borrowers as compared to what they pay their investors. Quality loans will be in demand for these companies. Loans that may have been marginal from a risk/reward standpoint just a few months ago will be turned down by many lenders. If Garrett is right about a short-lived economic impact due to a pandemic, there is a window of opportunity for those investors willing to lend. Due diligence will be very important, and investors should not presume that a recession is not prolonged. Conservative underwriting will be
as fear and concern pushed these increase
the capital markets will also have to
even
at
due to these investors attempting
the law of the land and lower loanto-values will be the benchmark. As one private lending company pointed out, there is always money to be made in real estate; one just needs
In addition, although Federal Funds
to take advantage of the low supply
Rates are at near zero, many large
of money available for loans. It
banks have, for the most part, stopped
also could be that these investors
accepting loan applications. Most
remember when they
have been relatively small compared
to fund loans that were already
were able to command a higher yield
hope that the world continue to take
approved, but, until things settle
during uncertain times such as the
serious measures to limit the effects,
down, they do not want to take what
Great Recession starting just 12 years
both health and economics-wise, so
they consider to be undue risk.
earlier; however, the
that we can get back to “normal.”
banks will honor their commitments
predominant reason is The capital markets (those buying
most likely due to the
loans) have all but dried up. They did
unknown of how this
not slow down. They just stopped
virus will play out in
altogether… at least for now.
the real estate market in an almost certain
Private lenders are lowering LTVs and
recession
that
will
to be prudent. So far, the number of illnesses and deaths worldwide to the 1918 pandemic. We can only
ABOUT THE AUTHOR: Edward Brown is in the Investor Relations department at Pacific Private Money in Novato, Calif. CONTACT: edward@pacificprivatemoney.com
www.originate.report 43
UPCOMING EVENTS 2020 EVENTS CALENDAR
AUGUST 19-21, 2020 | COSMOPOLITAN HOTEL, LAS VEGAS Where deals and capital meet! Join us for our flagship show of the year in Las Vegas! Captivate will turn its attention to the real need in the non-conventional lending industry: capital. Our Captivate Conference will connect lenders and investors and show you the tools you need to grow your business. With two and a half days of networking, Captivate will connect top sponsors directly with high net worth individuals who are looking to make their next business deal. All attendees will have access to network with one another through an app prior to the event. Join us in Las Vegas for good times, great memories, and valuable connections!
Showcase Your Upcoming Event Here Contact Alicia Carter at a.carter@geracillp.com for more information. 44 Originate Report April 2020
THE IMPORTANCE OF
results. This global reach creates networking opportunities for building relationships and partnerships. Your audi ence has invested time in registering and listening to the information you plan to share. They’re expecting valuable takeaways from the webinar, even some thing they can put into place at their own company. This positions you and your brand as an industry lead er, or expert. Webinars can give your audience the chance to ask questions and provide feedback. This how well it performed. These metrics include the is valuable because you can address concerns, reser number of attendees, number of those registered, vations, or any lingering questions they may have and total views. The webinar can and should be recorded about your training or product in real-time. You can Webinars have grown in popularity in recent years for you, the audience, and affiliates to share with customize your presentation to your audience based on and have become an important marketing tool. others, growing the results even more. Each time a their questions and feedback to keep them engaged. These live web-based seminars can connect you with person completes your webinar’s registration form Ask them to take an action, such as completing a task leads from all over the world. They encourage interacti they should be considered a new potential lead, or answering a question. This will increase audience by allowing the audience to ask questions orJust how whether it be for a sale or a potential partnership. participation and interest. Include guest speakers, beneficial can a webinar be to your business? Here Webinars adds a personal interaction that videos and such as industry leaders or affiliates, to speak during are 7 reasons why webinars are a fantastic marketing commercials don’t. Webinars put a face and name your webinar. These individuals should be familiar strategy. Webinars are a cost-effective way to extend with your product making you approachable, human, with your industry and value of your product. They your reach globally. Rather than pay for flights and and someone they can trust. Educating them on how will be able to educate the audience on the benefits hotels to meet with individual leads, you can engage your product can benefit their company is the first or impact, validating information you have or will with a larger group over their computer screens. step in opening the door to future discussions and be sharing. By inviting a guest speaker, you can also People from all over the world can attend, providing partnerships. It is essential to show both new and increase the webinar’s attendance by including your your brand or product with the potential to see huge established leads how your product or service can guest’s audience and following. This can grow the results. This global reach creates networking opporimprove or enhance their workplace. Depending on number of leads you may gain substantially. Results tunities for building relationships and partnerships. the prospect, the sales process can be slow. Businesscan be seen quickly from webinars. After hosting a our audience has invested time in registering and lises want to convert a lead into a cusWhile it’s cerwebinar you’ll have metrics to measure how well it tening to the information you plan to share. They’re tainly important to provide useful information and performed. These metrics include the number of at expecting valuable takeaways from the webinar, tips to your audience, it’s equally important to share tendees, number of those registered, and total views. even something they can put into place at their own how your brand or business can help them achieve The webinar can and should be recorded for you, the company. This positions you and your brand as an this. How can your product be a solution to their audience, and affiliates to share with others, grow industry leader, or expert. problems? Your webinar should show the audience ing the results even more. Each time a person com the value of your brand. Garnering interest in the pletes your webinar’s registration form they should Webinars can give your audience the chance to ask product and its potential impact is the first step in be considered a new potential lead, whether it be for questions and provide feedback. This is valuable becompleting a sale. a sale or a potential partnership. Webinars adds a cause you can address concerns, reservations, or any personal interaction that videos and commercials lingering questions they may have about your trainThere are numerous benefits to hosting a webinar. don’t. Webinars put a face and name with your prod ing or product in real-time. Though this article only touches on a handful of uct making you approachable, human, and someone them, it should be clear that webinars are an effecthey can trust. Educating them on how your product You can customize your presentation to your auditive tool for engagement and growth. As you take can benefit their company is the first step in opening ence based on their questions and feedback to keep these benefits into account, you should begin to the door to future discussions and partnerships. It them engaged. Ask them to take an action, such as think how you can use a webinar for lead generation is essential to show both new and established leads completing a task or answering a question. This will and to increase traffic, which will yield great results how your product or service can improve or enhance increase audience participation and interest. for your business. Webinars have grown in populartheir workplace.Depending on the prospect, the ity in recent years and have become an important sales formation and tips to your audience, it’s equalInclude guest speakers, such as industry leaders or marketing tool. These live web-based seminars can ly important to share how your brand or business affiliates, to speak during your webinar. These inconnect you with leads from all over the world. They can help them achieve this. How can your product be dividuals should be familiar with your industry and encourage interaction by allowing the audience to a solution to their problems? Your webinar should value of your product. They will be able to educate ask questions or provide feedback in real-time. show the audience the value of your brand. Garnerthe audience on the benefits or impact, validating inJust how beneficial can a webinar be to your busiing interest in the product and its potential impact is formation you have or will be sharing. ness? Here are 7 reasons why webinars are a fantasthe first step in completing a sale.There are numertic marketing strategy. ous benefits to hosting a webinar. Though this article By inviting a guest speaker, you can also increase the only touches on a handful of them, •it Upcoming should be clear Business Development • Fintech/Newest Loan Programs • Automation in Today’s Evolving Society webinar’s attendance by including your guest’s auWebinars are a cost-effective way to extend your that webinars are an effective tool for engagement dience and & following. This can grow the number of reach globally. Rather than pay for ights and hotels Trends Changes • Marketing & Outreach • Essential Tools & flTechnologies •and New Legal Issues and Regulations growth. As you take these benefi ts into account, leads you may gain substantially. to meet with individual leads, you can engage with a you should begin to think how you can use a webilarger group over their computer screens. nar for lead generation and to increase traffic, which 5. Results: will yield great results for your business. WebiResults can be seen quickly from webinars. After People from all over the world can attend, providnars have grown in popularity in recent years and hosting a webinar you’ll have metrics to measure ing your brand or product with the potential to see huge have become an important marketing tool. These
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Redwood Mortgage Corp. www.redwoodmortgage.com RMC@redwoodmartgage.com (800) 659-6593 San Mateo, CA 94402
Direct Lender
Zinc Financial Inc. www.zincdinancial.com office@zinc.net Tom Valentino
Direct Lender
5M 10M 2M
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55/33
Direct Lender
75/30
Pacific Private Money www.pacificprivatemoney.com loans@pacificprivatemoney.com (415) 883-2150
10M
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Fidelity Mortgage Lenders, Inc. www.fidelityca.com psteigleder@fidelityca.com Peter Steigleder (818) 422-8879
70/30
50K
LENDER
65-5*/70/5*
H O M E
TYPES OF PROPERTIES
90/2
L O A N
15M
2020
TYPES OF LOANS
MI NI MU M LO MA AN XIM $ UM Co LO mm AN er $ Co ns cial um Br e r idg Co e rp o A c rat i o qu ns i /T No sitio ru s ns te s a n ts/ L Pu eg dD rc h a ev e l o l Ent Re ased itie pm ha s en b ts Bla / Re mo nk S e e t Lo d e l e co d/ nd ans Re Jo no int Mor va tg V te d a en Fo ge t re i g n u re s s Ot h e N at i r on als MA XL OA NCh TO ur -VA ch LU es La E( /T nd % em (B )/M Au ar p les AX to m e / /S TE Co o RM Re mm yn t ag t a i i ve (YR e og l( rc i S) S En ue al/ te r h o p s L s o t ai t) Ga nm / Str sS ip en Ma Le t at i o t lls isu ns ) re Ho (G sp olf i Co Mi t alit ur y( xe se d H R e - u s e o te s / M ls) sid ar Pr ina In e o n p Ra d ) n c t i a l I e r t i e u st r he nv s ial sa Se es tm lfnd s en Fa R e to ra tP ge rms st a ro pe rti O f u ra n fic es t s e
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