In the mind of the loan officer
Ever wonder what goes on in a hard money loan officer’s mind? His day to day tasks, what he’s thinking, maybe even day dreaming about. Ok probably not what he or she is day dreaming about. They probably have 87 voicemails that they just let accumulate before hitting the mass delete button, 462 un-read emails, and spend 3.628 hours of the day practicing their jump shots with the wastebasket. Some probably stare out a window and wonder what the other loan officers doing conventional loans are doing, probably laughing, playing, being able to just say “yes” to almost everyone.
Whoa! What a depressing life! I can give you an insider’s point of view, this might even help when it’s time to pick up the phone and call! What do I do most of the day? Well most of it is network or find more places or ways to network. Maybe I should be spending more time on advertising, maybe I should be doing other things like stay at my desk like a hermit and never move any other muscle that doesn’t have anything to do with typing on a keyboard or clicking my mouse. Maybe, who knows, but where is the fun in that? I’m not saying work should be fun but……yeah, work should be fun. And I love what I do. I don’t even call it “work” per say except that I don’t want to just tell people I have fun for a living. I mean you never know who you are going to meet when you network!
I have come across people that share my experiences, have traveled more than I have (by the way, yeah, I’ve traveled a LOT), have been models, done unbelievable humanitarian projects, worked on things I couldn’t possibly imagine. So they’re not all my clients, but I send business and it reciprocates. I love helping people. Yes, hard money lending has to say “no” to more people than conventional, but believe me that after being in both worlds, it’s really not as big of a gap as I thought it would be. One of the things I do when I network is find solutions to problems. I do NOT like to blatantly say “no”. I find ways to solve and get through obstacles. If you have spoken to me, you might already know this. Would things be easier for me if I just called it a day? Probably, but then I didn’t help someone. What’s the point in doing business if you’re not helping people? I want to help with their future, their investments. This could help their kids, grand kids, friends, you name it. Why WOULDN’T I want to be a helping hand in that?
So I don’t have a great jump shot with the wastebasket. I mean my 11 year old daughter can beat me in a game of 21, that’s pretty bad. There was a reason I played football in high school and not basketball. But that’s beside the point. A typical day in my life does go to marketing and writing up emails like this a couple times a week. A typical day is also on the phone with about 40 people per day on average discussing markets, loan programs, investment possibilities, inspirational quotes, a jealousy rant about some of the experiences they had (or that I had ;)), or laughing about how horrible my golf swing can be. Hey, I’m practicing, just because it looks like I fidget like I’m doing an attempted electric slide to get the positioning right doesn’t mean I’m not putting in effort.
The main thing a hard money loan officer thinks about is “how can I find more ways to either help my clients or help people that want to be in real estate investing.” Not long ago I even came up with the idea that since I was into wholesaling at one point, that I still have business acquaintances that find deals on a full time basis! Why not pass on those opportunities to my active clients? It helps them out, helps me out, helps out my realtors or wholesalers, and everyone is happy. During my networking I find more professional wholesalers, credit repair specialists, title agents, you name it. Now, of course I can’t speak for everyone. But for the most part, us loan officers have a lot in common with the main thing being that we want to be there to help.