"Monetize Everything" host George Pitts sits down with Steve Pollack, the CEO & Founder of Anchor Loans, the nation's largest fix & flip lender. They discuss how Steve got started in real estate financing and the keys to starting a successful business in real estate and business in general. Steve shares some nuggets that everyone can use to build a successful business. You don't want to miss this episode. Get your notepad
Podcast Summary
01:10 – Taking Anchor Loans from an entrepreneurial start up to a multi-billion dollar fix-and-flip lender.
04:00 – Fix-and-Flip investing is not a get-rich-quick scheme. Flippers provide a valuable service to buyers who want move-in ready homes. Aging housing stock means fix-and-flip investing will always be with us.
07:15 – How the fix-and-flip loan process works. Anchor Loans' focus on "high level customer experience."
10:55 – Business model of "service to need" means prioritizing problem solving for customers.
12:25 – Best advice for beginners: find a mentor and become an expert at understanding property value.
16:00 – Avoid emotional purchase decisions. Due diligence. Do your homework. Learn from podcasts, blogs etc. of those who have succeeded.
18:16 – Steve's biggest mistakes. Listen to that inner voice telling you to pause and take a closer look. Due dilligence is critical.
22:00 – "Return on investment in relationships has no limit." Build relationships with everyone on your team and benefit from what they know. Cultivating relationships is key to success.
24:20 – Communication is priority #1. When things don't go as planned keep communicating with your lender.
27:00 – Contacting Anchor Loans - www.anchorloans.com Live chat representative, borrower portal, free loan application. Email Steve directly at stevep@anchorloans.com
