Origination

Aaron Hargrove is one of the co-heads of Greystone's affordable housing investment sales group. During our interview, Aaron demonstrates what it means to be successful by adding value, providing knowledge and information, and going the extra step to understand the client's business.

2:10  Early Sales Experience: The Tree Farm

10:07  Using Your Gifts

14:11 The First Sales Meeting is a Gratitude Meeting

22:34  What To Do After Achieving That Goal

27:45  Being Empathetic to Your Team Enables Effectiveness

34:07  Utilizing Your Team's Gifts

39:38  Clear Communication Eliminates Client's Confusion Over So Many Choices

42:14  Shocking Cap Rates

49:30  The Knowledge Sharing Approach

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

On this episode, I'll be speaking with Elisa Brown, the CEO and founder of Mapps Travel Agency. Having just returned from a fantastic trip planned by Elisa, I thought there were lessons that all of us could learn from how Elisa operates her business and the above and beyond customer service she provides.

4:00  -  Customer Service

19:00 - How to determine if Mapps Travel is the right fit for you

30:00 - Accommodating rapid change requests

38:00 - Travel amidst new Covid concerns 

43:00 - How to actually relax and enjoy your vacation 

47:00 -   Managing expectations on your trip 

51:00  - How to find Elisa and more on her specialties

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Blake and I discuss books, empathic technology, and the origin story of his lead generating machine.

Time Stamps:

2:17  The Tim Ferriss of Loan Origination
4:07  Blake's early inspirations
5:52  The best lead generating machines in the multifamily industry
8:22   Where technology meets real estate finance 
10:11 A foray into hacking and speaking tech to non-techies
14:42  Empathetic technology and innovation
17:37  Multifamily.loans origin story
23:26  What do people want to know and how do we get them to see our answers?
31:50  Successful people operate in their zone of genius 
33:24  Removing our self-imposed upward limits
39:32  Deal junkies

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Join me and JP as we discuss his companies, Loan Boss and Pensford Financial Group, and the innovative system he has created.

See the timestamps for topics:

1:33-5:30 Entrepreneurs as Salespeople

5:30-7:19 First Sales Experience

8:42-13:09 Persuasion/Empathy

13:09-16:28 Compromise/Value Exchange

16:28-20:50 Loan Boss

20:50-24:13 Target Buyer

24:13-27:28 Business Development

27:28-30:47 Digital Marketing

30:47-33:57 Return Rate 

34:52-39:11 Offering Value

39:11-47:20 Technology & Salespeople 

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Peter runs Marcus and Millichap, New York City investment sales office, and has been a dominant figure on the scene for well over a decade. Peter is the host of several multifamily podcasts, including Behind the Break, where he covers the Manhattan market, as well as Multifamily Memo where he talks about other markets across the country.

Mordecai and Peter have a conversation ranging from his first garage sale experience to becoming a thought leader in the industry.

See the timestamps for specific topics:
2:27 
First Sales Experience

8:42
Understanding the Buyer in the Sales Process

12:19
Cold Calling

20:46
Technology in the Industry

25:36
Debt Sales vs. Investment Sales

32:06
Client Retention 

35:44
Becoming a Thought Leader

38:56
Advice to Younger Self

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

The tables have turned as I am interviewed by G2 team member Ben Bullock.

Can efficiency and innovation be a spiritual endeavor? 

Why did I decide to start this podcast?

Why salespeople get the glory … yet receive so little love?

Future plans for the podcast … and more.


Time Stamps:

01:18

Inspiration for starting the Origination Podcast

4:00

This podcast is as an open-source knowledge sharing forum for originators and salespeople

8:01

G2 as an innovation lab within the lending business

12:22

Working within your own unique ability

19:07

A hero to guests and a hero to themselves

25:04

Future of the podcast

30:04

Sales from diverse perspectives

30:46

Technology is best when used to alleviate specific pain points

42:16

My goal is to help people identify what their unique ability is, but then I want them focusing their time on their unique ability

50:20

There is so much uncertainty in multifamily lending that cannot be controlled. Our job is to eliminate the uncertainty that we can control.

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Sam Freshman founded Standard Management Company and has been a multifamily investor since 1961. I thought it would be interesting to speak to Sam about what it's like being on the other side of the table as a buyer. 

Listen to particular topics at these times:

2:05 – Which relationships should you “buy and hold”

8:36 – You need to capture the prospect’s attention within the first 10 seconds

12:05 – Referrals are the “silver bullet” path into a client

17:44 – Never be old enough to know better

20:19 – Only compare yourself with your own potential – not someone else’s

32:04 – The importance of picking the right target audience

33:50 – A client is not thinking about you when you are not in front of them

39:55 – The most important thing to look for when buying a multifamily apartment

40:59 – The most important thing to look for when buying a retail property

42:43 – Current pricing levels and inflation

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

On this episode, we'll be speaking with Ana Ramos. Ana has over 20 years of commercial real estate experience, and it's closed well over $2 billion of deals. She has one of the most thorough origination processes that I've ever seen in the industry. Please see the time stamps for specific topics:

3:26 – Importance of responsiveness and availability

4:53 – Underwriting background as a tool to provide more certainty of execution

7:58 – Mindset shifts required to transition from underwriting to origination

13:07 – When to fire a client

16:51 – Ana’s approach to a first meeting with a client

21:04 – Ana’s signature vetting process

23:23 – Importance of gaining trust of the underwriting team

25:36 – Why does the process still take so long

38:08 – Challenges that women can face in origination

41:51 – Market trends

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

In this fifth episode of the Origination podcast, Mordecai interviews Barden Brown, a top investment sales broker in the Atlanta area. See the time stamps for topics, highlighting the virtues of both patience and persistence.

1:52 – Barden’s introduction to investment sales

3:42 – The importance of patience

5:33 – Balancing patience with a sense of urgency

7:51 – Can you still cold call?

10:59 – Listing services are a “commodity” … but having a listing is a “monopoly”

15:06 – Difference between Investment Sales and Debt Origination

21:33 – Utopian integration of Debt and Investment Sales

24:47 – Market trends – migration of capital from New York to Atlanta, new interest from Israeli investors in Atlanta

29:19 – Investor assumptions to justify current pricing levels

31:59 – Legacy owners on the sideline

36:22 – Advice for college grads looking to get into the industry

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt

Rob Russell started the CMBS group at Greystone, and now runs the special servicing group. During our conversation, we will discuss whether origination should be considered sales, the importance of understanding underwriting and program guidelines before going into origination, and about what the best first job would be for someone coming out of college who wants to get into this business.

See the timestamps for specific topics:
00. 34  – Is Loan Origination “Sales?” 

3.29, 4.35 – What does a deep client relationship look like? 

 8.25 – How Rob approaches a first meeting with a client 

 08.45 – Why it’s important for a loan originator to understand underwriting (8.45)

 28.45 – Should you start your career focused on one asset class? (28.45)

 33.10 –  College graduates should look for jobs that encourage new ways of thinking (33.10)

 37.39 – What young people should look for in a first job – hands on experience 

 42:30 – Current market trends – shift to bridge debt 

lenders, market, people, loan, client, equity, selling, deals, screen protectors, year, calls, rates, business, borrower, easy, long, sales, chase, interest rates, debt