July 21, 2023 • 60 mins
You're in for a treat! This episode is jam-packed with wisdom from the CFO of National Mortgage Home Loans, Fabian Gammo. Get ready to take notes as we shed light on the strategic management within NMHL and the man who works tirelessly to improve it from within. Fabian, known as the 'man behind the curtain', shares how his personal growth journey has significantly impacted the company's success. From a single-man show to a 60-person team, doubling revenue every three years - it's a story of grit, growth, and the right mortgage plans.
Ever wondered about the intricate dynamics of real estate and the mortgage industry? Well, buckle up for the roller-coaster ride! Fabian takes us through his vast knowledge of the industry and the factors that make it tick. From the importance of a reliable ISA and a diligent buyer's agent, to the indispensable value of building relationships, and even his secret talent of iconing – it's a multifaceted journey that's as enlightening as it is inspiring. You'll gain insights into the significance of understanding credit scores and the differences between FHA and conventional loans. Plus, Fabian shares his vision of creating a legacy company, where everyone can find the right mortgage plan tailored just for them.
As we wrap up this engaging talk with Fabian, we turn the spotlight on the company's humble beginnings and the vision that has propelled them to their current success. We discuss the nuances of financial planning, the transition to ownership, and the importance of a strong mortgage broker for a successful real estate journey. So, join us on this incredible journey, peeling back the layers of National Mortgage Home Loans, and take the plunge into the world of mortgages with Fabian Guillermo. It's been an extraordinary ride and we can't wait for you to hear it!
If you enjoy our content, please like, subscribe, and share. You can also catch the show LIVE @ facebook.com/freeforallfriday and make sure you stick around after for "the afterburner"
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
to the number one live Cullen podcast for real
estate agents and professionalsall around the world.
World-class guests, breakingnews and you with your host,
johnny Awesome and JimmyFantastic.
You are on Free For All Friday.
Speaker 2 (00:26):
Good morning, good morning, good morning everybody.
This is Jimmy Fantastic.
Speaker 3 (00:29):
And I am going to festival my greater, the
positive, positive energy, asinger of greatness with it.
All my kids know is daddyinsert, wife here and Jimmy.
Let it be known that on thisday I will shake loose the
chains of complacency, stop outthe flames of mediocrity and ask
every person I meet why havegood when you can have awesome?
Speaker 2 (00:47):
This is your, you're out, we got there he is.
Speaker 3 (00:49):
There he is.
We got a special guest today.
I want to queue him up right,but for those of you that
couldn't see, he was off cameracoming in here and he was
dancing before you ever evenheard the music.
Speaker 2 (01:02):
Yeah, I didn't even hear the music.
He just came in dancing rockingit out.
Speaker 4 (01:05):
Ready to go.
Speaker 3 (01:06):
Yeah, man, I got it for you.
Speaker 4 (01:08):
Why do you have?
Speaker 3 (01:09):
a strana.
I stir it, Stir it up for you,but no, this is somebody that is
actually I'm really excited todo this show with this morning
and yesterday this is the wholesetup.
Speaker 2 (01:22):
Yeah, so we called you here this morning to have a
conversation.
Wow, wow.
Speaker 3 (01:31):
So thank you for getting here right on the dot.
You're going to want to jumpand eat your microphone speak
right into it.
Speaker 4 (01:40):
There you go.
Oh, I am here, there you are, Ican hear myself now, oh man.
Speaker 3 (01:45):
So, ladies and gentlemen, this is something
I've been really, really excitedabout for multiple different
reasons to see where theconversation will go, and also
just because most people don'tever get a chance to know the
other brother, and we'll betalking about that as well.
But you know, I asked him lastnight.
Official title yeah, I asked himlast night if it was okay to
announce him as kind of like theblack horse of the whole NMHL
(02:08):
family.
He's like.
I love that and that's what welove about him.
So, ladies and gentlemen, he is.
He is the CFO of nationalmortgage home loans here with us
today.
He is the one and only inMichigan, fabian and Florida,
fabiano, fabian, guillermo,everybody, whoa.
(02:30):
There it is.
Speaker 4 (02:35):
Teach me how to use this one.
Speaker 3 (02:36):
What's that?
Teach you how to use that one,which one, this one or this one.
Speaker 2 (02:44):
I feel like the horn would be Fabian's favorite one.
Speaker 3 (02:47):
Yeah Well, it's right here for you.
Speaker 4 (02:51):
I want some house music, house music one.
Speaker 3 (02:53):
Oh man.
Speaker 4 (02:55):
Well, thank you for coming on.
Speaker 3 (02:56):
It's been a long time now, you know one of the things
that's interesting and that Iwould definitely love the
opportunity to talk about isthat there is the stigma Now for
the last two years for those ofyou some of you might know who
Fabian is and you know thatwe're sponsored here by national
mortgage home loans.
(03:17):
You've heard Randy's talk abouthow to use this one national
mortgage home loans.
You've heard Randy on the show.
And for those of you that knowwho Fabian is, you you know
there is that stigma of, whileyou're the brother right,
because that well, that's true,though I'm the bigger younger
brother, right.
Speaker 2 (03:37):
But see what's what's hate jokes from Randy's.
Speaker 3 (03:41):
But what's interesting about that is it
doesn't really do.
It doesn't really do justice,because one of the things that I
wanted to start off sayingright off the bat that people
don't see is the amount of workthat that you put into this
place as well, not only justwith the people that you're
working with, but even a lot ofthe work, and we talked about
(04:01):
this.
Uh, I, oh I should start bysaying, uh, is there anything I
can't talk about?
Oh, good, so even so, even evenpersonal work, that I've sent
you messages and said that Icould tell you've done personal
work and development work onyourself to make NMHL a better
place, and so it's really on, uh, you know, not not unfair, but
(04:24):
you are your own person here atNMHL and it's such a drastic
difference from Randy that itworks.
Yeah, is that what you guys callit?
That's appropriate and uh andso you know a lot of people, so
I guess that's one of the firstthings I want to ask you like,
does that ever bother you thatthat like there's this thing,
(04:45):
like you're just Randy's brother?
Speaker 4 (04:46):
No, I am more than Randy's brother.
Well, we know that Well, we.
Speaker 2 (04:52):
It's funny because what, what, what people don't
see from the outside, that weget to see and witness on the
inside is like you're like theWizard of Oz, like the man
behind the curtain.
You know what I mean.
Speaker 4 (05:00):
Like yeah, you know what it's.
It's even funny, causesometimes you know Randy, randy,
uh, you know he is the face ofthe company.
Keep in mind before I ever stepfoot into real estate or
mortgage.
Am I good now, Johnny?
I thought this thing could pickme up from 15 feet.
Speaker 3 (05:19):
No man, it's a dynamic Like you only pick up
right in front of it, got it,got it.
There you go.
Now I can hear it.
Okay, cool yeah.
Oh, but Randy was in thebusiness for you know, 20 years
before I even stepped foot inthis place.
So you know obviously olderbrother.
Speaker 4 (05:32):
A lot of respect.
He knows everything about theindustry to this day.
You know he learns from me 10%of the time.
I learned from him maybe apercent of the time you know.
So, realistically, um, constantlearning environment, we're all
always learning.
But, uh, you know, I trust theguidance that you know.
Speaker 1 (05:50):
I mean you know before uh we're partners or
before we're, you know, headingthis initiative up.
Speaker 4 (05:55):
uh, you know we're brothers and and I have no ego I
want to see him on the top ofthe mountain.
Speaker 3 (06:00):
Yeah so realistically .
Speaker 1 (06:03):
I'm actually.
Speaker 4 (06:03):
I like being the guy behind the curtain sometimes and
uh, you know it, just uh, youknow, you know you could find
yourself doing anything in thisbusiness.
You find yourself.
You know.
Randy always says he'll scrubthe toilets and he'll uh head up
a sales meeting.
You know, in the same day, andI think it's the right way to be
, especially in a small business.
You guys have seen the hatsyou've worn.
Yeah, you know even in thisbusiness, you know, when you're
(06:25):
starting any initiative, any newbusiness, trying to grow it,
you need people around you.
They're going to wear multiplehats and you know you'll catch
me as a CFO.
On Monday, You'll catch medoing sales.
Monday evening, You'll catch merallying up the teams, checking
in on the departments, checkingin on management.
At the same time, Shoot, If weneed to uh get an open house
(06:47):
done for, uh one of our realtorpartners.
Well, I'll end up there too.
And uh don't get me wrong.
As you get bigger and thingsget better, you eventually find
your way and stick to certainthings because it's just smart
for the business.
But in the beginning, if youhave the time, I'll never say no
to to doing a task thatbenefits the company.
Speaker 3 (07:06):
Yeah, yeah.
And the other thing that thatpeople don't see is usually I
mean, we're just going to putthe costika aside at this point
in time.
We just assume that costika ispart of the building.
Speaker 1 (07:16):
Yes, uh, but you know being being Sleep center is
that's.
Speaker 4 (07:21):
This is his apartment .
Speaker 3 (07:22):
It's not bad.
8,000 square feet rightRefrigerator bed what else?
What a sweetheart of a guy.
Speaker 4 (07:27):
Oh man Seriously Like .
Speaker 2 (07:29):
I asked him today when I cause I got here.
You guys know why coastic endsup here in the morning.
Speaker 4 (07:33):
His parents wake up and go to work as well, and he's
probably, you know it's notgoing to sit there and sleep in
for another couple hours, eventhough he can.
He said I'm going to get my assup and get into work too, and
realistically he jumps in here.
He doesn't have to be hereearly.
He doesn't have to be here late, but he's here early and late
every day.
And that's just the type ofdedication that we get from the
(07:54):
people around us, and it'sbeautiful.
Speaker 3 (07:56):
Yeah Well, and one of the reasons, of course, that
Fabian knows that is becausehe's also in here early and he's
also stays in here late.
My favorite I'll tell you whatmy favorite thing.
I know you do this sometimestoo, and people have said this
in the office.
Speaker 4 (08:08):
Probably do it.
Speaker 3 (08:09):
My favorite is when Fabian will say that he's
leaving early.
It's like four.
He says I'm going to leaveearly and then he walks out the
door and then 20 minutes latercomes back and he goes.
Speaker 1 (08:18):
I just want to see who's going to leave early,
everybody's got their stuff,they drop it and sit back down.
Speaker 3 (08:25):
So let's talk a little bit about, because a lot
of people don't know.
Again, there's a stigma thatyou know, you see these big
companies rising.
You've been said, you know,within the smaller companies,
we're, we're, we're getting tobe a big company.
Speaker 4 (08:39):
Oh, pound for pound, I'd say we're one of the best
companies in the nation.
When you look at, you know howmany LO's?
We have versus the amount ofproduction we do and the impact
on people's lives that we have,which, to me, is an even better
KPI than you know.
Loan submitted, yeah, yeah.
Speaker 3 (08:57):
So and so, but to get there, what a lot of people
don't realize is that you're aCPA.
You have a broker's license aswell, and this is one of my
favorite things that most peopledon't know and the Realtors on
here and here.
You say this, but you saidwe're open to everything.
Yeah, Everything you icon.
(09:18):
You're a secret iconer and youdon't ever want to tell people
this.
Speaker 4 (09:22):
And you don't even tell people.
Speaker 3 (09:24):
This is how you tell people you go.
I don't even want to mentionthis, but I icon.
But you don't go out there,like other people, you just you
just kind of do it.
Speaker 4 (09:35):
You don't even want the badge, right, no, no, right.
Well, people don't realize.
You know it's, you know in thisbusiness you know you start off
as a Realtor like I used to Iwas telling somebody yesterday,
back in 2016,.
I was doing showings, and thenI would come back to the office,
sell the loan and then I'dclear the conditions.
(09:56):
You know so a little bit ofeverything and and shit that was
profitable as hell.
Speaker 1 (10:01):
You know I was doing everything.
Speaker 4 (10:04):
You know it's like a huge profits there because you
know you didn't have to worryabout money at all because you
were doing everything and it was.
It was profitable and in thebeginning of my career, almost
70% of my clients were doubledips.
Right, so I would do the realestate and the mortgage.
People trusted me, they likedme and that was just how I made
(10:25):
good money in the beginning ofof our career together, starting
national mortgage and having areal estate team, and from there
you know you can.
You just get into managementand obviously we had the 2019,
2020,.
We're not going to be able tochase two rabbits and
effectively master bothindustries.
(10:46):
However, why stop theopportunity?
Right?
So we do.
I still rain make, I stilllatch buyers all the time they
trust my plan.
Speaker 1 (10:56):
They, they're confident in me.
Speaker 4 (10:58):
I just realized I can't run around all day doing
showings and I'm probably notthe best listing agent.
Realistically, I can hold downan appointment.
Speaker 3 (11:09):
That's.
That's your sign from.
I don't know how Rob Jacobspulled that off, but that's your
sign that the audience issaying if you don't start
talking into this mic, I'm justgoing to have to hold it in
front of your face the wholetime.
Speaker 4 (11:20):
Right there, can you hear me better now?
I am a quiet talker.
Some people say I talk low tomanipulate people.
Speaker 2 (11:29):
It's some psychology behind that.
Speaker 4 (11:31):
Yeah, yeah, something like that.
But bottom line lens ofhappening is you just tend to
become more effective over timeas things get crazy.
So I know I can't do showings.
You know we have realtorpartners that we can hand over
our showings to and I can take arip on them.
You know, and realisticallyit's not a focus of mine, but I
tend to do just enough to iconevery year and honestly it's
(11:54):
motivating and I'll tell you,actually a huge factor about
this is other icons that I getto meet because I become an icon
, end up being great friends andbusiness partners and you know
just people that that you knoware naturally inclined to do
better in this business withinthe EXP community.
So I really love meeting othericons, I think everybody's story
(12:15):
is wonderful and you know thatwhen you're talking to an icon,
you're talking to somebodythat's just more effective than
your average agent or has moretime allocated to the business
yeah.
So a lot of team leaders, a lotof just very effective
individuals that we get to meetwithin the icon community and
(12:37):
Just a great community to be apart of.
Speaker 2 (12:38):
but yeah, I mean, you know, my goal is to keep on
iconing, you know Secretly, yes,but like to your point, you get
in those rooms right, and wetalk about this on the show a
lot and Kurt's brought it up aMany times is like proximity and
getting it surrounding yourselfwith people that you know are
driven in this industry anddriven in this business To you
(12:59):
know, to better themselves,better whatever, and that's how
you end up iconing.
Speaker 4 (13:02):
Yeah, getting around those people.
Yeah, absolutely and honestly,I think it's.
It's fun to Be a part of thatcommunity and even funner to
learn what other people aredoing to be super effective and
and within the XP community.
Speaker 3 (13:16):
Who's one of your most favorite people that you've
gotten around so far besides us?
It's a good question.
I'll reverse it for you who'sthe worst?
Yeah?
Speaker 4 (13:32):
Yeah, no, that's.
That's one I got to think about, you know, I'll just give you
an example, like like yesterday,gentlemen name Mahmood, out of
Oklahoma, and a gentleman namedJoe Borland out of Arizona we're
part of my eye conversations.
You guys know what that is.
Yeah, yeah, the eyeconversation.
(13:52):
So it's partly you're gettingyour you know culture points for
EXP.
You have to talk to other iconsand I think Joe has a roughly a
12 person team and I thinkMahmood is a you know, a single
producer.
But both of them just had youknow.
You know, mahmood actuallyreminded me of, like the Keldian
community I think he was in theJordanian community of Oklahoma
(14:16):
and Joe Joe was in the Arizonacommunity and has a 12 person
team and and Joe was just likealmost like a psychologist to me
, like the way he spoke, I waslike I can use a guy like that
around me, because he kind ofjust called me down and he was
like your ID Aren't you?
Speaker 2 (14:34):
and I was like yeah, like yeah, how much longer we
gonna be on this call?
Speaker 4 (14:40):
He was calling me up because I was changing the
backgrounds of my images whilehe was talking, because I can't
pay attention.
For more than like four minutes.
So you know, just again meetingmeeting so many.
You know you know great randompeople.
Honestly I would say KurtShewell's probably.
You know one of my favorites.
(15:00):
You know just, you know the guyI look up to.
I love his storytelling.
Just sincere eyes.
You know I'm a I'm a bigemotional intelligence guy, so I
love reading into people andjust kind of you know, seeing
where their minds and hearts are.
And you know I'd say he'sprobably probably one of my
favorites within the expcommunity.
You know just a lot of greatpeople.
(15:21):
I love seeing a young, you know, you know team dynamic, a young
leader too.
So like honestly, you knowHunter Potter.
You know the energy that thatguy's been bringing To the, to
the industry, and what he's beenable to do is become a very
good friend of mine just fromwithin the exp community, and
(15:43):
you know I expect great thingsout of that guy, but that's just
it.
You know, you just meet these,these random people across the
community and, honestly, withinother Other brokerages as well,
and it's all about the push youknow a lot of you know young
professionals coming in from youknow Humble backgrounds and
just seeing them fight to makeit, you know, you know.
(16:07):
Then we have the conversation of, you know, hustler versus CEO.
You know, trying to put downthe, the hustler, at some point
in your career.
Like you're still doingshowings on Saturday and Sunday,
that's wonderful, you'recranking them out, but are you
growing your business, you know.
So I like to have thoseconversations with these
professionals too and honestly,I think the same way sometimes,
because I'm still out hereproducing, I'm still putting up
(16:27):
loans.
You'll call me tonight at 9 pm.
I'll answer your phone, I'lltake your line application.
Absolutely, I will, you know isthat what's?
best for my business.
No, but at this point in ourcareer we're gonna you get every
deal done effectively that wecan, and that's just how it has
to happen, why would you saythat that's not best for your
business?
Speaker 3 (16:42):
That's an interesting statement.
Speaker 4 (16:44):
Yep, so it's.
It just comes down to the, thelogic.
You know you typically, youdon't.
You know it's like, it's likeyou know having a you know, you
know management of any companyDo the work rather than focusing
on how more people could do thework more effectively right.
So working, you know, in yourbusiness versus on your business
(17:06):
right Yep.
So, you know, you know,sometimes being in the thick of
things, I think, puts us at anadvantage because, realistically
, I'm I'm experiencing whatyou're experiencing like, hey,
if one of our lenders pricingisn't Super effective today for
whatever reason and you know I'mseeing that too and I'm like,
(17:27):
shoot, I'm losing deals toobecause realistically, our, our,
our lenders pricing isn't thestrongest, and hey, maybe we
suggest using another lenderright now, even though they
might be slower, right, and soseeing things like that are
essentially gonna help you Be abetter loan officer and help
guide your team better.
But at the same time again, youknow, sometimes you look at it
(17:48):
like the time I spent doing oneloan that maybe generated you
know, $8,000 in revenue I shouldhave, should I have been
helping 40 people be moreeffective, generating two more
loans each?
And the obvious answer is that,right, you want to.
You want to help the majority.
Speaker 3 (18:08):
Wow, interesting.
And that's the conversationthat you're having with, with
realtors and Icons is trying toget them to transcend past your
working in your business to whoelse can you bring in to work in
your business so that you canstart working on your business?
Speaker 4 (18:22):
Oh, yeah, oh yeah, I tell realtors all the time.
I'm just like real basic youstart as a single.
You know Because I've beenthere before keep in mind.
Speaker 1 (18:28):
Yeah, I've been that realtor that was doing showings
and I was going right in theLoan after right.
Speaker 4 (18:33):
So I always say, you know, you start as a realtor and
honestly, you guys are huge onthis too because, like I was
kind of Resort back to you guysto say what can we do for this
guy, so single producer and the?
You know, first thing he needsis an ISA right.
The second things he needs is abuyer's agent, because it just
comes down to logic and time.
If I'm running around showinghouses 10 houses a day Sometimes
I just can't run my businesseffectively because I'm running
(18:55):
around all day, even though myoffice is in my car, you know
and then that can effectivelykind of make that work as soon
as you get into management ofseveral employees or staff.
Good luck being, you know, onsolo all day doing showings.
It's not gonna work.
Yeah, at some point in time,you know.
(19:16):
You know We've talked to acouple realtors that went back
and said you know I'm gonna goahead and powerhouse, you know,
my ISA and my leads and myfollow-up and go ahead and
distribute those leads out to myteams.
And and again, that's you knowkind of.
You know the, the control board, you know being in that back
(19:36):
end to make sure that Leads aregoing out to the team.
And that takes a lot ofmanagement, a lot of time.
And and again, you know youknow showing homes as as
effective and fulfilling as itis because, trust me, I miss it
too, like I love shakingsomebody's hand walking through
the house always.
I just always tell people ITalk shit about houses.
I don't sell houses.
The shit I'm talking Offer in.
Speaker 2 (20:13):
Well, what one of the things that that we like, that
we get to see with you every daytoo, is like you're a relations
, you know your relationshipbuilding.
Yes, I mean and the you're that, that's one, and I can see you
missing the real estate.
Speaker 4 (20:26):
Yeah, yeah, no, I enjoy it, I enjoy, I actually
you know, really like.
You know, I meeting anybodythat's trying to grow their team
Cause I'm a planner.
I mean that's just I don't knowwhy, but my brain enjoys
planning.
So I actually enjoy mortgages.
Speaker 1 (20:42):
Yeah.
Speaker 4 (20:44):
I enjoy mortgages.
I enjoy talking to you andsaying, hey, let's look at your
taxes and let's you know, seewhat your income is, let's see
where your credit is.
Oh, you got a little boo boo onthere.
Let's fix that boo boo.
Okay, yeah, let's get your cashright.
Let's see what plan I can fityou in If that plan doesn't work
.
I have a backup plan for you,like I'm going to, if you talk
(21:06):
to me or pretty much you knowanybody in this company, because
they all have access to me yourloans getting done if it's
doable.
So I mean that's.
That's one of the best thingsabout us.
We're monsters, I'm creative asshit you like.
Speaker 3 (21:18):
You like doing that more than you.
You liked walking somebodythrough a house for the first
time.
Yeah, Got you, yeah.
Speaker 4 (21:24):
It's easier and, realistically, I get to learn so
much about you, cause if you're, if we're doing a mortgage
together, I pretty much knoweverything about you and I can
look at your credit port andassess your personality.
Speaker 3 (21:34):
So you, what you're basically saying is I got
blackmail on everybody.
It's really cool though.
Speaker 4 (21:43):
You can actually like , like, like you know, you see
somebody's credit report squeakyclean, nothing late, I'm like,
oh, that guy's, you know.
On point and this life istogether and you know, keeps
everything perfect.
And then you get the guy thatyou know.
You can even see that the datesof when things happen.
So you're like, oh okay, roughcouple of 18, 19 tough times and
(22:03):
you know, yeah, I got a divorce, got a shit.
Situation happened a couple ofyears ago.
I get it, man.
Hey, we all, we all gotsomething.
Trust me, I you know, I've hadthe ups and the downs and, but
the credit report just gives youa true picture.
By the way, they're actuallychanging the way credit reports
are going to score.
Probably with the next year ortwo they're going to do more of
a today, it's more of a snapshot.
Speaker 1 (22:25):
Yeah, yeah.
Speaker 4 (22:26):
Right, so you're actually seeing where somebody
is today.
I always say it's kind of likea balance sheet Like, yeah,
that's where you are today.
Not many people get that ideaeither.
But a balance sheet basicallyshows assets and liabilities at
a point in time.
So you know, a credit reportshows credit in late and
collections at a point in time,but they'll actually go to a
(22:46):
scoring system where it actuallyshows progress over time, which
makes a lot more sense to mebecause Interesting.
Yeah, the guy that fucked up.
I could say fucked up on here,because it's a podcast.
Speaker 3 (22:58):
We also have our 32nd late sensor button.
Oh yeah, that's our trademark32nd late sensor button.
So yes, you can.
That's the fun part about thisyou get to say whatever you want
.
Speaker 4 (23:10):
Right, but basically they'll do a scoring model now
to where you're actually lookingat how much better somebody got
within the past two years.
Speaker 3 (23:23):
Interesting.
Speaker 1 (23:23):
And re-score They've changed the industry in general.
Speaker 4 (23:27):
Yeah, because now it's not so much like oh you
have two collections that arebringing you down to a 580 FICO.
Oh, you've been doing greatover the past two years.
We're not gonna focus on thatas much, which makes a lot more
sense it does.
Speaker 2 (23:40):
I mean like because for the longest time we gave out
credit cards like candy tocollege kids and they ruined
their credit in college and thenit's almost every 10 years
later, right, they're like Idon't even use my credit.
Speaker 4 (23:51):
Yeah, I don't even know what that is.
They have one discover cardwith a $300 spending limit and
their credits shot to shit,right.
Speaker 3 (23:58):
Because of that one card I'm like, okay, that's it.
Speaker 4 (24:00):
Thanks.
Speaker 2 (24:00):
Bass Pro Shop.
Speaker 4 (24:01):
Yeah, seriously, I just wanted to go fishing.
Speaker 3 (24:05):
Now I gotta have a bag of bad credit for myself.
Now I can't buy a house.
Speaker 2 (24:11):
But I know how to fish.
Speaker 4 (24:13):
Yeah, and I caught a musky.
Speaker 2 (24:19):
It ruined all the gear.
Speaker 4 (24:20):
I had to buy more, but I couldn't get credit.
Speaker 3 (24:25):
So do you think that that's gonna that's really
interesting.
I had no idea about that.
Do you think that that's goingto like like screw up collection
agencies and make them reallysuper mad now, all of a sudden?
Speaker 4 (24:34):
No.
Okay, good yeah they have thisdown pecked.
Speaker 3 (24:37):
They know what they're doing.
Speaker 4 (24:39):
They know what they're doing.
Speaker 3 (24:40):
Because that's kind of like their big play right,
Like-.
Speaker 4 (24:42):
This is where government and lobbyists come
and play.
They'll never stop, you know,big organizations from making-.
They'll modify the way peoplemake money, but they'll never
stop.
You know the way they docertain things.
I mean to me honestly, likewithout lack of or for lack of
better terms, credit is rigged.
Okay, because realistically, howare you somebody that was 18,
(25:02):
19 years old, made some mistakesand I don't have one easy way
to go clean that up for a fee,Like, come on, like you know,
and that's gonna ruin my lifeand make me pay higher interest
on everything for years.
Speaker 2 (25:15):
And your insurance rates are going up.
Speaker 4 (25:17):
Your insurance, your car policy, your car interest
rate, your the products that youcan buy.
You know so many people getconfused about this new rule.
That happened with you.
Know people with worse creditcan get a bigger advantage in
getting a house, which Iactually like it.
I mean, I think it helps peopleout and, yes, anybody with good
(25:39):
credits like well, screw that.
Why should I have to payanything more for having, you
know, good credit, when peoplewith worse credit kind of are?
Speaker 3 (25:47):
getting what's coming to them.
Speaker 4 (25:48):
You know, and you know at the end of the day you
know it's anybody with bettercredit is getting the better
advantage when it comes togetting a mortgage or anything.
But it's just helping thepeople with the worst credit a
little bit more, and it'stypically, you know, an
equivalent to less than a couplethousand dollars for a you know
(26:09):
a smaller.
Call it $200,000 house or so.
Speaker 3 (26:13):
But you know, just another consideration there too,
yeah, but so, with this newsystem that they're going into,
then that it's designed to help,like you said, the person that?
Let me ask you this because Idon't know about this?
Speaker 1 (26:30):
I don't prove it.
Speaker 3 (26:31):
Is it true that there's some people that, just
for whatever reason, they'relike pulled out of some lottery
and the credit system just saysyou're never gonna be deemed to
have credit?
No, have you ever heard that?
No, Really.
Speaker 2 (26:44):
Yeah, see, I heard that I thought that happened to
me Did you have your tinfoil haton.
Speaker 3 (26:53):
No, no, listen, I was listening.
Speaker 4 (26:54):
It's a fair system.
It works.
Speaker 3 (26:55):
Yeah.
Speaker 4 (26:56):
It works.
I mean it's fair.
I mean I've never really seen acredit report where like this
is not fair.
Just that one situation I toldyou guys, about which somebody
has a $300 credit card.
They don't really, they don'treally use credit right, because
not?
Using credit also gives you badcredit right, no credit right,
which is now you're only gonnago buy a house which you have no
credit.
Well, options are limited.
Speaker 2 (27:14):
Yeah, right.
Speaker 4 (27:16):
You know, realistically, you need good
credit to buy a house whichmakes sense.
Speaker 2 (27:19):
You know, hey, I'm not gonna lend you money if your
credit's shit.
Well yeah, I'm not gonna lendyou a $300,000 if your credit's
shit, yeah.
Speaker 4 (27:25):
If you haven't ever paid your $300,000 to the
discovery bill, yeah right, youknow I wouldn't have no way of
paying me back, but I love you,yeah yeah.
There's no emotions in thisgame.
Speaker 3 (27:36):
So going to this new system where they're looking at
you know how much you'veimproved yes, that kind of makes
me think so, like if you'regonna screw up, like is now the
time.
Speaker 4 (27:51):
No, I mean I'm sure that I'm sure they figured out
their algorithm as to howthey're gonna grade it Like is
this another GameStop momentright here where somebody can
just go out?
Speaker 3 (27:59):
It's gonna change things.
Speaker 4 (28:01):
It's gonna change things.
Yeah, I'm even talking to someof our you know credit repair
partners and I'm like, well, wegot a plan for that too, because
it's you know how you?
You know, help people repairtheir credit is essentially
getting rid of collections,getting rid of leads.
Speaker 1 (28:14):
And now you know you gotta look at okay progress over
time, like you know.
Speaker 4 (28:19):
Maybe hopefully there'll be less of an influence
on what I made a mistake onfive years ago that I've never
been able to get rid of.
You know that.
You know even people paying offtheir collections, but they
still sit on their damn creditreport with a zero balance,
still affecting their overallFICO, even though it's a
non-existent collection or debtthat's been handled.
Speaker 1 (28:38):
you know it's just like ugh.
Speaker 4 (28:40):
And then a lot of people don't know that you can
actually get rid of ever since Iwanna say 2022, 2022, they came
out with a rule I wanna sayJune-ish that if you have a
medical collection and you payit in full, I can remove it
right off your credit reportwithin like a couple days and
you don't even have to go tooin-depth with that.
But I think crucial.
I really love helping peopleequalize out their credit to be
able to get a better loan.
Yeah, yeah.
(29:01):
You know, and I think it's justyou know, fair Like an FHA loan
is a great loan.
You'd still get so many peopleinto homes, it's a great product
, but you know there's just thatupfront PMI, that 1.75% that
everybody pays, and even thoughit's not paid out upfront, it's
incurred upfront and for thatsame amount of money you could
probably just improve yourcredit and it's gonna make your
(29:22):
whole life cheaper.
Speaker 3 (29:23):
Explain?
Can you explain a little bitdeeper?
Just as real as we hear thisstuff, we don't necessarily
understand this stuff which iswhy I don't fucking listen.
I don't fucking understand.
There you go, sorry, sorry, butyeah.
So explain that in-depth to Yep, yep.
Speaker 4 (29:44):
So yeah, I mean I tell people all the time, like
one of the primary differencesbetween an FHA loan and a
conventional loan, because eventhough conventional loans might
have higher interest rates today, some people are like I want
the better payment, you know,but there's that 1.75% on all
FHA loans upfront PMI.
So I do a $200,000 loan, youknow, was that 1.75%?
(30:05):
About $3,500.
Okay, that's paid.
It incurred upfront and you'renot getting away from that.
You have to pay that no matterwhat.
You might not pay it today butyou're gonna pay it right Now.
That's $3,500.
Now, if you had the money and alot of people don't right.
That's okay sometimes, but ifyou had the money, would you
rather spend $2,000 on fixingyour credit?
(30:26):
So essentially I save $1,500and I get a better credit score,
which means I get a bettermortgage, I get better interest
rates on my car right and Idon't incur the upfront PMI.
So that's why we likeconventional loans, because
there's not that upfront costright incurred but at the same
time, if for some reason wecan't get a conventional loan,
(30:48):
FHA loans are great, the bestsecond option, right.
So it's still something you canuse, and on top of the higher
concessions with a lower downpayment.
It was really well thought out.
But at the end of the day, thegoal is, hey, I'm gonna pull in
this higher interest rate today,even if I'm on a conventional
loan where the interest rate'sworse than a FHA loans rate.
Today I can eventually get ridof that PMI faster and not be
(31:12):
stuck in this for 20, 30 yearsand we know where interest rates
are Very likely to drop in thenext 16 months or so, and when
they do again, you wanna be inthat best product possible,
because that's what's gonnahappen again.
Interesting People are gonnalock back into, hopefully,
something in the high fours, midfives and that's gonna be the
new 3% interest rate of 2020.
(31:34):
The 5% interest rate of 2024.
Yeah, hopefully.
Speaker 3 (31:42):
Wow.
So that's right there, thatconversation and being able to
have that, even with a realtorand this is why it's key to get
with a lender that can explainthis stuff out right but as a
realtor, this is the type ofthing that we need to know,
because that balancing againbalancing sheet that you just
did for somebody, that's not aconversation I've ever even
thought to have with the clientsbefore myself personally.
(32:05):
Have you ever had thatconversation?
Well, you came from, so you didthis stuff to kinda do.
Speaker 2 (32:09):
Sort of, but we never .
It was never.
As this is the little beautythings of National Mortgage Home
Loans is you get thisconsultative.
Well, you get this consultativeapproach right, he's rubbing my
foot.
It's not just but like sotypically, because, yeah, I was
in the mortgage game before,right, I worked at Quicken.
But typically mortgage guys arejust the guy in the phone.
(32:32):
You never see them or meet them.
They never get face to facewith your mortgage guy.
Now you do here, right, howmany agents and clients have you
sat with at your desk?
It's my preferred method.
I've been right and had thisconversation.
Speaker 4 (32:46):
Yeah, or on Zoom.
Honestly, the Zoom calls arepretty much as intimate as in
personal meetings.
Speaker 2 (32:53):
Yeah, and even our other Wolf had a guy come in the
other day and sat down with abuyer and I see Damola do it and
we've had agents that just comein.
They sit down in our conferencerooms and the agent comes in,
your loan officer comes in, theclient comes in and man like
that's a dream for.
Speaker 4 (33:11):
It is yep.
Somebody that's trying to buyout Yep it's essentially a
descendant of our 2016 one-stopshop method, where I used to
again show houses and clearconditions for the same
transaction for one of myclients and essentially we do
that, but now there's severalpeople doing it rather than.
Speaker 2 (33:32):
Fabian and Randy, Right, right and then.
So that kind of leads me tothis next question, Like when
you guys decided to do this andrun full in, what was the
original vision, and are youstill on?
Ooh, that's such a goodquestion.
Yeah, what was the originalvision?
Are we on track for that vision?
Speaker 4 (33:50):
Yeah, yeah, yes and no, I think, like in the.
So keep in mind, I'm a CPA too,so I think at some point in
time me and Randy were like wejust want a big ass building
right.
Speaker 3 (34:01):
Wait, you were even saying that.
Yeah, yeah, oh, man.
Speaker 4 (34:03):
Big ass building.
I don't know how big.
We got a 15,000 square footbuilding now, so that's a good
size, but a good portion of it'srented out.
Maybe over time we'll takeanother side of it too and kind
of expand over there.
Speaker 2 (34:14):
We need it, yep.
Speaker 1 (34:15):
We're going that way, sooner or later.
Speaker 4 (34:19):
And a financial services company was the thought
process, but obviously yougotta start somewhere, so it's
like you have personal financial.
So you got what?
Financial advisory?
You got taxes and accounting.
You got mortgages and realestate all in one place that was
(34:40):
you wanted to create a legacycompany that our families would
be able to have forever and passon to our children.
That's kind of the thoughtprocess in the beginning.
Now again now we're, pound forpound, one of the strongest
mortgage brokers in the country,and so I think we're definitely
(35:02):
headed in the right direction.
We need it to take a directpath, doing too much at the same
time, which, again, we tapereddown in 2020 with the advice of
some great executives that wewere talking to, to really
hunker in on the mortgage side.
But again, there's so manyelements from our past that we
(35:23):
just use differently than anyother company, and really that's
the birth of our accountexecutive department here.
One of the, I think, most wellthought out departments really
of any mortgage company,something that I don't think
anybody can do as good asnational mortgage home loans,
which is the growth of realtorsacross the country and maybe one
(35:48):
day across the world, right,but helping downlines and teams
and even individual agents thatwant to grow and essentially
create the same legacy thatwe're trying to create here in
their own geographical locations.
So yeah, the account executivedepartment of national mortgage
(36:09):
home loans to me is thedifference maker.
Huge goal this year 500, right.
The 500, like the 300 fromSparta, but the 500 realtors of
Sparta.
Speaker 3 (36:28):
I feel like we should have 500 realtors of enemy
shell.
We should all start taking ourshirts off and get some more
pain.
I feel like we need some HGHfirst.
Speaker 4 (36:38):
I'll do it if you do it.
There's like seven guys outthere, right now, yeah, but no,
honestly, it's exciting thisaccount executive department.
So this is like the true enemyshell difference maker right,
that, yes, we have a refi team.
They're strong, they're great,they work.
Those phones right.
But we're also taking realtorsand hybriding them and giving
(36:59):
them a new way to make money Inconjunction with mortgage,
because we know the two arecorrelated, right, but the
beautiful part is we're alsotaking coaches right.
We're taking transactioncoordinators right.
We're taking realtors andsaying, hey, beyond you buying
and selling homes, which wealways want you to have a strong
(37:20):
focus on, do you have interestin helping other realtors grow?
right, and if you do, then wewant to talk to you here at
National Mortgage Home Loansbecause, realistically, it just
changes the dynamic of yourbusiness, maybe showing houses
as much money as it's made youor as good as it's done for you
isn't fulfilling you at thispart of your life, and now we
(37:42):
can go ahead and help you adaptright.
Or if you are growing a team,come work with us and experience
having coaching, havingconsultation, being part of a
group like even when we go toEXPCon or Shareholder Summit or
any other event always have thebiggest group right.
Speaker 2 (38:03):
Randy's usually leading the way you know.
Speaker 4 (38:05):
And throwing the party and having a good time.
But it's such a great crewbecause essentially we're just
extended family, right andeverything.
Family's always been the basisof this company, you know, and.
But the extended family isbeautiful because now we go to
all hopefully all 50 states oneday and we have family in every
state, people that we love, thatwe work with, that we grow
(38:26):
together with, but just theaccount executive department
again our way of making surerealtors are on the right path,
and we know we're all gonna havegood and bad years and we're
all gonna have differentchallenges that we face.
But realistically, together wefeel like we can handle.
You know pretty much anything.
(38:47):
Yeah right, cuz you knowthere's nothing I can go to you
know, johnny, for systems andtech and creativity and and
Shoot and I mean, I can't eventhink of half the things you
know and then you go to Jimmy onthe coaching, the
accountability, the Managing ofteams and and protocol to follow
(39:11):
and and at the same time youknow it's.
It's not all you know black andwhite.
There's a lot of you knowPersonability in this too, and
understanding who you're workingwith and and how they need to
work but again, from 40 personteam down to single agent, we
(39:31):
can help you grow and and Ithink that's just a beautiful
message and it's a great way tostart a relationship and and we
believe in reciprocity wetypically give before we receive
, yeah.
Speaker 2 (39:41):
Yeah, well, that yesterday I mean yesterday was a
Was a good day for you and Iyeah, right, that was exciting.
Yeah, it was a good day, but wegot what we created a
relationship in in Houston Texas.
Yes just by picking up thephone.
Yeah, I'm giving and giving,yes, right, and now it's your
giver yeah, was that Texas oh.
Speaker 3 (40:24):
Yeah, Tim just answered the question.
This is this is Fabian GammoNational mortgage home loans the
other brother.
Speaker 2 (40:36):
The funny thing is like I remember the like, what
like, when I first came overhere they were speaking about
buildings.
Yeah, and I'll give you alittle insight of what happened.
Randy was walking out of hereone day and I'm like where you
going?
He's like don't tell Fabian.
Speaker 3 (40:54):
Which is why would he said that he was interested.
The building too.
I remember here in that too,like I remember Fabian saying,
or Randy saying in a meeting onetime he's like guys, we were
already filling this up.
Like this is when we firstopened the doors.
Pretty soon we're gonna need tobuy a whole mother building and
fame is like no, oh, randy waslike that afternoon.
Speaker 4 (41:19):
I got it.
I got to tame that bullsometimes.
Speaker 3 (41:22):
Feel like you're kind of the wife and the.
Speaker 4 (41:28):
Guys gotta remember have a CPA back, right?
Yeah, my mind goes to likeworking capital.
You don't need assets right now, we need to.
You know, focus on, you know,growth and profits and Making
sure the revenues to where weneed it.
Speaker 3 (41:42):
You know and does that ever lead to any huge like.
I want to back up because weonly have a couple minutes left.
Speaker 1 (41:49):
I want to start here, I know it goes fast doesn't it?
Speaker 3 (41:51):
Wow, I want to start here.
Speaker 4 (41:52):
I want to just getting started, yeah you know
we have this.
Speaker 3 (42:02):
We.
You talked about going from the50 all the way down to the one
and now we're a company ofalmost a hundred.
No, I want to back that up allthe way down to the one.
Okay, were you and Randy likealways real close where you guys
always doing?
Did you run an lemonade standtogether, like what was it?
Like what was little Fabian,little Rand?
Speaker 4 (42:17):
Oh, this was interesting.
Speaker 3 (42:18):
Yeah, yeah.
Speaker 4 (42:19):
I'll give you a couple stories.
Speaker 3 (42:20):
Yeah, yeah, that's what I want so one time I think
I spilled rice or something.
Speaker 4 (42:24):
All right, I spilled rice and in the kitchen and my
mom came and you know, yellingat me.
Speaker 1 (42:30):
She might have hit me , I don't remember at the time
you know our family.
Speaker 4 (42:34):
It was you know we weren't scared to show our
emotions at the time.
But then I remember Randy goingand what you might call it,
actually cleaning up the messfor me and telling my mom to
back off of me.
And you know it was just youknow.
That's one thing that jogs mymemory.
I remember another time I wokeup in the middle and I peed my
(42:55):
bed.
Speaker 2 (42:56):
Right, okay.
Speaker 4 (42:56):
Yeah, I'm probably like in Randy had his own room,
I had my own room, and then Iwoke up Randy and I woke up my
parents and he came, changed mysheets and you know.
I went back to sleep after sojust it gives you an idea there.
You know, randy's six yearsolder than me, so it's always
been kind of like older brotherand then, you know, at some
(43:18):
points of her life, fatherly,you know, really.
Just you know, coming in, youknow, and Trying to make sure
I'm always doing the rightthings.
You know, while he was, youknow, helping support my family.
He's like you go to college andyou know, go ahead and see what
you can do with that.
I got my, got my accountingdegree from Michigan State
University, got my CPA license.
(43:38):
You know, always wanted to havethat there.
But then it got to a point intime where I was like you know
what?
Speaker 1 (43:43):
I want to do this with you, you know, let's, let's
see what we can grow togetherand.
Speaker 4 (43:48):
So there's always a respect factor there.
You know, even though I love tochallenge him and and make
things competitive, you knowthere's gonna be weaknesses he
has.
There's gonna be weaknesses.
I have, and you know, the goalsto always make each other
better, even if that meansthrowing jabs sometimes, and
that's just part of the game.
You know, your brothers, it's,it's emotional, it's.
You know there's constantfeelings and stress and at the
(44:09):
same time, at the end of the day, if we're not getting better
because of the challenges we'refacing, then you know what are
we doing?
Speaker 2 (44:17):
You know, and that's just what it comes down to, is a
wife and bother doing?
Speaker 4 (44:20):
all I bother.
Speaker 2 (44:21):
Yeah, exactly.
Speaker 3 (44:22):
So did you guys ever?
Is the first business that youdid together National mortgage,
or did you guys ever do anythingbefore this?
Speaker 4 (44:30):
nope national mortgage.
Speaker 3 (44:31):
Wow, yeah, and you didn't.
So you so Randy, randy's offstarting this company and we've
heard that story.
He's helping the family.
Yeah, you go off to college andthen at what point in time did
you decide to come into this andhow did that all work?
Like?
How did you?
Speaker 4 (44:47):
yeah, there's actually a legendary story to
this.
Speaker 2 (44:52):
I think we've had, I think I've heard this story.
Well it's.
Speaker 4 (44:55):
I don't know which version you've heard, but yeah,
well, so we were all actuallysitting.
Like Randy already knew that,you know I was working as a CPA.
I enjoyed it.
You know I enjoyed, enjoyed theconsultative approach, actually
worked for UHY for a while andI went to them one day and I was
like guys, I really enjoyed thesales part of this.
But I don't really like sittinghere doing these spreadsheets
(45:15):
all day.
Speaker 3 (45:15):
They kind of you know it's not really you know.
Speaker 4 (45:18):
My tinker, you know, doesn't think, and so Randy
already knew you know I was.
I was taking focus medicationjust to like it myself through
(45:38):
the day and I just, you know,kind of dragging ass.
You know I didn't really Iwasn't feeling I wanted to kind
of get out there and just talkto people more and, honestly, a
lot of it comes back down to thereason I love mortgage and real
estate, which is, guys, if youwant to not sleep this month and
make sure you make a hundredthousand dollars to pay your
family's bills and get ahead andand you can right you can, you
can get creative, you can throwout some marketing, you can Show
(46:00):
up at people's doors at 8 am Inthe morning and and put in all
haul ass effort into making asmuch money as you wanted to
Right and that's what I lovedabout real estate and origin.
Speaker 1 (46:10):
I said at some point in my life I wanted control of
that right.
Speaker 4 (46:12):
I don't want to trade you know time for, for money
and without any you knowControlable upside potential
right.
And that's again why I lovethis industry, Because
realistically you can.
You can control it, Dependingon how hard and how smart you
want to work right.
(46:33):
So, anyways, one day we'resitting at the naughty right.
Do you guys know what thenaughty is?
Well, okay, yeah, so a naughtyis like a place where typically,
like we're, you know, we'reCaldean, but you'll see, like
Europeans kind of have like thiscafe hang out where the guys go
typically and they sit down andin our Notties you get like a
(46:54):
bottle of liquor.
So we'll do a bottle ofHennessy usually and you get the
bring the ice, they'll bringthe salads, they'll bring the
tikka, which is the steak bites,they'll bring the chickpeas,
and basically you'll you'llprobably, you know, sit through
one, two, three bottlessometimes and eat and drink
right for hours.
So used to play basketball thatwould go to the naughty after.
(47:15):
And one day we're actuallysitting with Jamie Benham, our
account executive at UWM, and wewere talking and you know this,
the idea came up once you guysGo ahead and start your own
brokerage up, and I was like,yeah, I'm kind of done with the,
the CPA side of things, eventhough I really loved, you know,
certain components of it.
It was just like I want thatnext challenge, what is that?
(47:36):
And I was looking right infront of me and I saw that Randy
, again, he was a single-manshow.
So this is just, you know, youknow, little brother, brain
working.
Hey one, I take the coattailsand see where you're not
capitalizing on allopportunities that are coming.
Your way yeah you know, hey,maybe I can do some loans for
you, maybe there's someconditions for you, maybe I can
do some showings for you.
Speaker 1 (47:56):
Maybe that might double your revenue, and that's
exactly what it did right, weactually doubled revenue.
Speaker 4 (48:01):
The first three years that we were in the business
together, right, and then itgets to a point where you're
like okay, you know now it'shard to double revenue right, as
we need more people right, and,and, and, and.
Then on top of revenue it'slike, oh shoot, revenues going
up and the profits are goingdown.
Speaker 2 (48:18):
So what the hell's going on?
I'm more people.
That's growth, yeah right.
Speaker 4 (48:21):
That's essentially what growth is.
You know, revenues going up andprofits are going down.
Sometimes profits are gonna gonegative while you're growing
right, and you just got to beprepared for that and play the
balancing act.
And that's essentially what yousee here seven years later,
right 2016 to 2023.
Well, double in revenue, doublein revenue, double in revenue.
Speaker 1 (48:39):
Then revenue starts to level out, then you find more
people, so you can continue togrow revenue and then profits
start to go down.
Speaker 4 (48:45):
But you have a way bigger company now, essentially
servicing 60 employees here,right?
So this big behemoth of amortgage company, that that that
helps realtors across thenation.
So that's the short story, butessentially, yes, national
mortgage home loans was createdat the naughty oh, there you go.
Speaker 2 (49:06):
Thank you, jamie Benham.
Speaker 4 (49:08):
We owe another Fifth of Hennessy and some some, as to
continue our growth.
Speaker 2 (49:15):
I'll just let us know what time to be there.
Speaker 4 (49:17):
Absolutely.
Yeah, everybody can come.
Speaker 3 (49:19):
Oh, it's not.
I thought it was an exclusivetype deal.
Speaker 4 (49:23):
No, no, no, anybody can come Well.
Speaker 2 (49:24):
I'm honorary Kelly.
Speaker 3 (49:29):
You have the card in your wallet, right?
Speaker 4 (49:30):
Yeah, you can show that anybody and actually some
of the best like food You'llever have, because they, you
know it's pretty.
Yeah, it's great stuff, likesome good steak, but it's some
good salads.
Look at the eggplant salad andthat's.
The whole thought process islike kind of like.
I don't know what you guys doon Christmas, but a lot of times
on Christmas you know they gotall the food set up and that's
what we do.
We get you know some cow tongueand some chickpeas.
Speaker 1 (49:52):
I'm serious, that's what we do, yeah, and I'm down a
fifth of Hennessy.
Speaker 4 (49:55):
Yes but, but it goes a lot better when you eat as you
drink, yeah, rather than justdrinking.
Speaker 2 (50:01):
Yeah, no, that's Wednesday.
Yeah could be Friday free forall.
Friday.
Baby, let's go, let's do it.
Yeah, we found favorite of.
Fabian's favorite button.
Hey, yeah, that's the.
Speaker 4 (50:21):
Now the name of this podcast episode.
Speaker 3 (50:26):
So, what we kind of went.
We went back and forth andstuff.
What do you think?
I want to touch on this so thatwe can end here with some
practical things for realtortouches you will.
Johnny, what are some thingsthat, like you were talking
about, you know credit and justsome of the mindset getting with
(50:47):
the buyer to help them figureout later On down the road, like
what's the one thing you couldsay, either as the CP, well, as
you, as the CPA, as the realtorbroker, as a Mortgage person, as
a business owner, what's theone piece of advice that you
would give to a real estateagent to help them with their
(51:07):
clients today?
Speaker 4 (51:11):
Yeah, I would say the latch and what I mean by the
latch is the financial componentto me is probably the most
important component ofpurchasing a home.
Obviously you have a grade Aclient that just knows they'll
get a proof or whatever they'relooking for, and then it becomes
(51:31):
less of a focus.
But the average person, whichthere's way more of, and
especially in today's market,you know we're really catering
to the first time home buyers,the lower FICO.
So it's hard to say one thing,because we have to look at
today's market, right, andtoday's market is who's buying
as people that need to buy?
(51:52):
Right, my apartment's too small, I don't have a house, I'm
getting married andrealistically, when interest
rates are high and prices arehigher relatively speaking,
right, they're still buying.
And so that's who we need tofocus on because, realistically,
unless somebody has a bunch ofcash and they're ready to cash
something out which in even inthat case they're paying a
(52:13):
higher, higher price, right, andthen they, then they, otherwise
would have.
Realistically, we need to focuson the planning of the finances
first to create a latch.
So so what?
I would tell any realtors thatyou typically need a strong
mortgage broker, and if you canfind a you know, a mortgage
(52:35):
broker on steroids like that,that I consider we are right and
realistically again.
Speaker 3 (52:42):
I know at least seven of those guys, yeah.
Speaker 4 (52:45):
Taking something HGH right.
Speaker 2 (52:49):
Plan after today Yep.
Speaker 4 (52:50):
But but a lender partner.
Because?
Because?
Speaker 2 (53:00):
it's a social proof.
Speaker 4 (53:01):
But yeah, just getting back into that, creating
that, let's because you knowagain when I talk to a client
about a preapproval.
Speaker 1 (53:09):
I'm talking about your credit.
I'm talking about your cash.
Speaker 4 (53:11):
I'm talking about why you're moving and why you know,
even though you can afford a$400,000 house, why you should
only buy a house for 280 today.
Because it fits within yourbudget.
Better, right, and now thatI've created that emotional
latch, I've talked to that plan,about that plan with you.
Now we bring the realtor backin and we're like, hey, we can
afford this.
And if you have to go here, go,because realistically, this is
(53:32):
my livelihood and my house andmy happiness right on the line
here.
But at the same time, if we canfind a range right here, it's
going to be best for my, mybudget, my finances, my family.
So I'm not living for my house.
We still want to take vacations.
We still want to save forcollege right, we still want to
you know, put some money asidefor this or that, right, and so
(53:55):
that's why really looking atreal estate as a financial plan
via a mortgage broker is crucialand again, the steroids with
national mortgage home loans isgetting coaching, getting growth
, getting world-class ideologyin the growth of your company
(54:16):
via the partners that are thatare here and and how we can help
pretty much any realtor orrealtor team or downline across
the nation.
So kudos to you guys on youraccomplishments with this
company so far and honestly,boys, it's only just begun.
Speaker 3 (54:34):
Oh man, did you hear that?
I think we just got invited toChristmas.
You're ready for the naughty, solet me ask this, then, for the
last five minutes here Yep, nowlet's transition into business
owner Again.
You have, you have been throughit when to call.
I mean, you've got the samestory as a lot of people out
(54:55):
there who might be at that point, maybe with a partner, maybe
with another family member, thatthey're ready to join and start
and actually start a businessventure.
What would your advice be onthat aspect, to actually go from
a realtor to a business owner?
Speaker 4 (55:12):
Oh, yeah, so you know , it's really time management, I
would say, is probably one ofthe best answers I could give
you, because, and proactiveversus reactive right I think
that's something probablyeverybody in this industry has a
(55:33):
problem with right, especiallyif you're, like you know, a
slave to this little device here, right.
Which I find myself doing on adaily basis.
My daughter's literally at thepoint where she's like Dad, off
the phone.
Dad, we need personal time withyou right and actually Joe that
I spoke to yesterday on my eyeconversation.
He was like Fabian, it's notabout how much time, it's about
(55:56):
the quality of the time that youhave with your kid.
And so, again, proactive versusreactive, and and I always like
whether I'm talking to a brandnew agent or somebody that you
know I could have 20 years inthe business that wants to
improve you know, time ends upbeing the X factor.
(56:17):
How am I using my time?
You know Ishbeah, when he wascoaching brokers on how to be
better, it's what am I doingthat I can have somebody else do
?
Right, because I'm trying tostay at my 500 an hour billable
right.
Speaker 1 (56:32):
Why the?
Speaker 4 (56:33):
fuck am I doing $15 an hour work Right and
realistically?
There's somebody very willingto do the $15 an hour work for
you.
So why are you doing it Rightand then being disciplined
enough to not let that happen?
Because I'm being proactivewith how I'm doing things, you
know.
Just that consideration.
Really, I always tell people,take a one week calendar route
(56:55):
and, even though you don't haveto follow it exact, take that
one week calendar Monday throughFriday, you know, 5am to 8pm.
That's typically a normal youknow, awake time.
And and write down what youshould be doing in your you know
best picture, right, the bestway you should be, and you're
(57:16):
not going to follow it.
We know you're not going tofollow it because you're
naturally going to be reactivein this business, but discipline
yourself to do as much of it asyou can, however often as you
can.
Right, because if you can dothat, then at least you're
getting better, and at the pointwhere you optimized it, then,
hey, you'll probably be amultimillionaire because,
(57:37):
realistically, you're doingexactly what the hell you should
be doing, right, and you're notspending time doing things that
you shouldn't be doing, becauseyou've effectively found ways
to make enough money to paypeople to do the things that
that you shouldn't be doing and,again, are at points in their
career where they're happy doingit for you.
You know whether it's a virtualassistant doing tasks for you
(58:00):
and ISA being paid a salary tocall you, with a strong bonus
structure.
You know it could be any idea,but realistically proactive
versus reactive for anybodytrying to grow their business
without it you're going to findyourself plateauing and unable
to get past it and realisticallydelegate to elevate because
(58:21):
that's going to be huge for you.
Speaker 3 (58:23):
Wow, that's that was.
That's a lot man that was apower pecked hour, jessica, we
will reach out.
She's asking about an appthat's branded to a real estate
agent and loan officer that shecould share with potential
clients.
We got your back.
Yeah, we'll reach out to youpersonally Anybody else that has
questions about that.
(58:43):
We will reach out to you aswell as post some links there on
the Facebook page.
But, Fabian, and that, that iswhat an hour looks like here on
free for all Friday and baby.
Speaker 4 (58:52):
I appreciate you guys .
Speaker 3 (58:54):
Don't go anywhere.
Stick around for those of youlistening to the podcast.
We are live every Friday atseven am Eastern and if you
stick around, live with us.
We do the afterburner, which iswhere people that follow us
live, right after the show, orwe get into just having some
more chitchat.
Get that uncensored afterburneryeah.
Speaker 4 (59:11):
Although I think it's .
Where's Joe Rogan?
Speaker 3 (59:16):
He's not awake at night, wake and bake and he
can't be coming through.
Speaker 2 (59:24):
Oh man.
Speaker 3 (59:24):
Well, so much Try Gus Fabian Gammo, the other brother
, for coming in.
Jimmy, you been fantastic,You've been awesome.
And for everybody else, we'lltalk to you next Friday.
Speaker 4 (59:36):
It's not working anymore.
Yeah, you.
to the number one live Cullen podcast for real
estate agents and professionalsall around the world.
World-class guests, breakingnews and you with your host,
johnny Awesome and JimmyFantastic.
You are on Free For All Friday.
Speaker 2 (00:26):
Good morning, good morning, good morning everybody.
This is Jimmy Fantastic.
Speaker 3 (00:29):
And I am going to festival my greater, the
positive, positive energy, asinger of greatness with it.
All my kids know is daddyinsert, wife here and Jimmy.
Let it be known that on thisday I will shake loose the
chains of complacency, stop outthe flames of mediocrity and ask
every person I meet why havegood when you can have awesome?
Speaker 2 (00:47):
This is your, you're out, we got there he is.
Speaker 3 (00:49):
There he is.
We got a special guest today.
I want to queue him up right,but for those of you that
couldn't see, he was off cameracoming in here and he was
dancing before you ever evenheard the music.
Speaker 2 (01:02):
Yeah, I didn't even hear the music.
He just came in dancing rockingit out.
Speaker 4 (01:05):
Ready to go.
Speaker 3 (01:06):
Yeah, man, I got it for you.
Speaker 4 (01:08):
Why do you have?
Speaker 3 (01:09):
a strana.
I stir it, Stir it up for you,but no, this is somebody that is
actually I'm really excited todo this show with this morning
and yesterday this is the wholesetup.
Speaker 2 (01:22):
Yeah, so we called you here this morning to have a
conversation.
Wow, wow.
Speaker 3 (01:31):
So thank you for getting here right on the dot.
You're going to want to jumpand eat your microphone speak
right into it.
Speaker 4 (01:40):
There you go.
Oh, I am here, there you are, Ican hear myself now, oh man.
Speaker 3 (01:45):
So, ladies and gentlemen, this is something
I've been really, really excitedabout for multiple different
reasons to see where theconversation will go, and also
just because most people don'tever get a chance to know the
other brother, and we'll betalking about that as well.
But you know, I asked him lastnight.
Official title yeah, I asked himlast night if it was okay to
announce him as kind of like theblack horse of the whole NMHL
(02:08):
family.
He's like.
I love that and that's what welove about him.
So, ladies and gentlemen, he is.
He is the CFO of nationalmortgage home loans here with us
today.
He is the one and only inMichigan, fabian and Florida,
fabiano, fabian, guillermo,everybody, whoa.
(02:30):
There it is.
Speaker 4 (02:35):
Teach me how to use this one.
Speaker 3 (02:36):
What's that?
Teach you how to use that one,which one, this one or this one.
Speaker 2 (02:44):
I feel like the horn would be Fabian's favorite one.
Speaker 3 (02:47):
Yeah Well, it's right here for you.
Speaker 4 (02:51):
I want some house music, house music one.
Speaker 3 (02:53):
Oh man.
Speaker 4 (02:55):
Well, thank you for coming on.
Speaker 3 (02:56):
It's been a long time now, you know one of the things
that's interesting and that Iwould definitely love the
opportunity to talk about isthat there is the stigma Now for
the last two years for those ofyou some of you might know who
Fabian is and you know thatwe're sponsored here by national
mortgage home loans.
(03:17):
You've heard Randy's talk abouthow to use this one national
mortgage home loans.
You've heard Randy on the show.
And for those of you that knowwho Fabian is, you you know
there is that stigma of, whileyou're the brother right,
because that well, that's true,though I'm the bigger younger
brother, right.
Speaker 2 (03:37):
But see what's what's hate jokes from Randy's.
Speaker 3 (03:41):
But what's interesting about that is it
doesn't really do.
It doesn't really do justice,because one of the things that I
wanted to start off sayingright off the bat that people
don't see is the amount of workthat that you put into this
place as well, not only justwith the people that you're
working with, but even a lot ofthe work, and we talked about
(04:01):
this.
Uh, I, oh I should start bysaying, uh, is there anything I
can't talk about?
Oh, good, so even so, even evenpersonal work, that I've sent
you messages and said that Icould tell you've done personal
work and development work onyourself to make NMHL a better
place, and so it's really on, uh, you know, not not unfair, but
(04:24):
you are your own person here atNMHL and it's such a drastic
difference from Randy that itworks.
Yeah, is that what you guys callit?
That's appropriate and uh andso you know a lot of people, so
I guess that's one of the firstthings I want to ask you like,
does that ever bother you thatthat like there's this thing,
(04:45):
like you're just Randy's brother?
Speaker 4 (04:46):
No, I am more than Randy's brother.
Well, we know that Well, we.
Speaker 2 (04:52):
It's funny because what, what, what people don't
see from the outside, that weget to see and witness on the
inside is like you're like theWizard of Oz, like the man
behind the curtain.
You know what I mean.
Speaker 4 (05:00):
Like yeah, you know what it's.
It's even funny, causesometimes you know Randy, randy,
uh, you know he is the face ofthe company.
Keep in mind before I ever stepfoot into real estate or
mortgage.
Am I good now, Johnny?
I thought this thing could pickme up from 15 feet.
Speaker 3 (05:19):
No man, it's a dynamic Like you only pick up
right in front of it, got it,got it.
There you go.
Now I can hear it.
Okay, cool yeah.
Oh, but Randy was in thebusiness for you know, 20 years
before I even stepped foot inthis place.
So you know obviously olderbrother.
Speaker 4 (05:32):
A lot of respect.
He knows everything about theindustry to this day.
You know he learns from me 10%of the time.
I learned from him maybe apercent of the time you know.
So, realistically, um, constantlearning environment, we're all
always learning.
But, uh, you know, I trust theguidance that you know.
Speaker 1 (05:50):
I mean you know before uh we're partners or
before we're, you know, headingthis initiative up.
Speaker 4 (05:55):
uh, you know we're brothers and and I have no ego I
want to see him on the top ofthe mountain.
Speaker 3 (06:00):
Yeah so realistically .
Speaker 1 (06:03):
I'm actually.
Speaker 4 (06:03):
I like being the guy behind the curtain sometimes and
uh, you know it, just uh, youknow, you know you could find
yourself doing anything in thisbusiness.
You find yourself.
You know.
Randy always says he'll scrubthe toilets and he'll uh head up
a sales meeting.
You know, in the same day, andI think it's the right way to be
, especially in a small business.
You guys have seen the hatsyou've worn.
Yeah, you know even in thisbusiness, you know, when you're
(06:25):
starting any initiative, any newbusiness, trying to grow it,
you need people around you.
They're going to wear multiplehats and you know you'll catch
me as a CFO.
On Monday, You'll catch medoing sales.
Monday evening, You'll catch merallying up the teams, checking
in on the departments, checkingin on management.
At the same time, Shoot, If weneed to uh get an open house
(06:47):
done for, uh one of our realtorpartners.
Well, I'll end up there too.
And uh don't get me wrong.
As you get bigger and thingsget better, you eventually find
your way and stick to certainthings because it's just smart
for the business.
But in the beginning, if youhave the time, I'll never say no
to to doing a task thatbenefits the company.
Speaker 3 (07:06):
Yeah, yeah.
And the other thing that thatpeople don't see is usually I
mean, we're just going to putthe costika aside at this point
in time.
We just assume that costika ispart of the building.
Speaker 1 (07:16):
Yes, uh, but you know being being Sleep center is
that's.
Speaker 4 (07:21):
This is his apartment .
Speaker 3 (07:22):
It's not bad.
8,000 square feet rightRefrigerator bed what else?
What a sweetheart of a guy.
Speaker 4 (07:27):
Oh man Seriously Like .
Speaker 2 (07:29):
I asked him today when I cause I got here.
You guys know why coastic endsup here in the morning.
Speaker 4 (07:33):
His parents wake up and go to work as well, and he's
probably, you know it's notgoing to sit there and sleep in
for another couple hours, eventhough he can.
He said I'm going to get my assup and get into work too, and
realistically he jumps in here.
He doesn't have to be hereearly.
He doesn't have to be here late, but he's here early and late
every day.
And that's just the type ofdedication that we get from the
(07:54):
people around us, and it'sbeautiful.
Speaker 3 (07:56):
Yeah Well, and one of the reasons, of course, that
Fabian knows that is becausehe's also in here early and he's
also stays in here late.
My favorite I'll tell you whatmy favorite thing.
I know you do this sometimestoo, and people have said this
in the office.
Speaker 4 (08:08):
Probably do it.
Speaker 3 (08:09):
My favorite is when Fabian will say that he's
leaving early.
It's like four.
He says I'm going to leaveearly and then he walks out the
door and then 20 minutes latercomes back and he goes.
Speaker 1 (08:18):
I just want to see who's going to leave early,
everybody's got their stuff,they drop it and sit back down.
Speaker 3 (08:25):
So let's talk a little bit about, because a lot
of people don't know.
Again, there's a stigma thatyou know, you see these big
companies rising.
You've been said, you know,within the smaller companies,
we're, we're, we're getting tobe a big company.
Speaker 4 (08:39):
Oh, pound for pound, I'd say we're one of the best
companies in the nation.
When you look at, you know howmany LO's?
We have versus the amount ofproduction we do and the impact
on people's lives that we have,which, to me, is an even better
KPI than you know.
Loan submitted, yeah, yeah.
Speaker 3 (08:57):
So and so, but to get there, what a lot of people
don't realize is that you're aCPA.
You have a broker's license aswell, and this is one of my
favorite things that most peopledon't know and the Realtors on
here and here.
You say this, but you saidwe're open to everything.
Yeah, Everything you icon.
(09:18):
You're a secret iconer and youdon't ever want to tell people
this.
Speaker 4 (09:22):
And you don't even tell people.
Speaker 3 (09:24):
This is how you tell people you go.
I don't even want to mentionthis, but I icon.
But you don't go out there,like other people, you just you
just kind of do it.
Speaker 4 (09:35):
You don't even want the badge, right, no, no, right.
Well, people don't realize.
You know it's, you know in thisbusiness you know you start off
as a Realtor like I used to Iwas telling somebody yesterday,
back in 2016,.
I was doing showings, and thenI would come back to the office,
sell the loan and then I'dclear the conditions.
(09:56):
You know so a little bit ofeverything and and shit that was
profitable as hell.
Speaker 1 (10:01):
You know I was doing everything.
Speaker 4 (10:04):
You know it's like a huge profits there because you
know you didn't have to worryabout money at all because you
were doing everything and it was.
It was profitable and in thebeginning of my career, almost
70% of my clients were doubledips.
Right, so I would do the realestate and the mortgage.
People trusted me, they likedme and that was just how I made
(10:25):
good money in the beginning ofof our career together, starting
national mortgage and having areal estate team, and from there
you know you can.
You just get into managementand obviously we had the 2019,
2020,.
We're not going to be able tochase two rabbits and
effectively master bothindustries.
(10:46):
However, why stop theopportunity?
Right?
So we do.
I still rain make, I stilllatch buyers all the time they
trust my plan.
Speaker 1 (10:56):
They, they're confident in me.
Speaker 4 (10:58):
I just realized I can't run around all day doing
showings and I'm probably notthe best listing agent.
Realistically, I can hold downan appointment.
Speaker 3 (11:09):
That's.
That's your sign from.
I don't know how Rob Jacobspulled that off, but that's your
sign that the audience issaying if you don't start
talking into this mic, I'm justgoing to have to hold it in
front of your face the wholetime.
Speaker 4 (11:20):
Right there, can you hear me better now?
I am a quiet talker.
Some people say I talk low tomanipulate people.
Speaker 2 (11:29):
It's some psychology behind that.
Speaker 4 (11:31):
Yeah, yeah, something like that.
But bottom line lens ofhappening is you just tend to
become more effective over timeas things get crazy.
So I know I can't do showings.
You know we have realtorpartners that we can hand over
our showings to and I can take arip on them.
You know, and realisticallyit's not a focus of mine, but I
tend to do just enough to iconevery year and honestly it's
(11:54):
motivating and I'll tell you,actually a huge factor about
this is other icons that I getto meet because I become an icon
, end up being great friends andbusiness partners and you know
just people that that you knoware naturally inclined to do
better in this business withinthe EXP community.
So I really love meeting othericons, I think everybody's story
(12:15):
is wonderful and you know thatwhen you're talking to an icon,
you're talking to somebodythat's just more effective than
your average agent or has moretime allocated to the business
yeah.
So a lot of team leaders, a lotof just very effective
individuals that we get to meetwithin the icon community and
(12:37):
Just a great community to be apart of.
Speaker 2 (12:38):
but yeah, I mean, you know, my goal is to keep on
iconing, you know Secretly, yes,but like to your point, you get
in those rooms right, and wetalk about this on the show a
lot and Kurt's brought it up aMany times is like proximity and
getting it surrounding yourselfwith people that you know are
driven in this industry anddriven in this business To you
(12:59):
know, to better themselves,better whatever, and that's how
you end up iconing.
Speaker 4 (13:02):
Yeah, getting around those people.
Yeah, absolutely and honestly,I think it's.
It's fun to Be a part of thatcommunity and even funner to
learn what other people aredoing to be super effective and
and within the XP community.
Speaker 3 (13:16):
Who's one of your most favorite people that you've
gotten around so far besides us?
It's a good question.
I'll reverse it for you who'sthe worst?
Yeah?
Speaker 4 (13:32):
Yeah, no, that's.
That's one I got to think about, you know, I'll just give you
an example, like like yesterday,gentlemen name Mahmood, out of
Oklahoma, and a gentleman namedJoe Borland out of Arizona we're
part of my eye conversations.
You guys know what that is.
Yeah, yeah, the eyeconversation.
(13:52):
So it's partly you're gettingyour you know culture points for
EXP.
You have to talk to other iconsand I think Joe has a roughly a
12 person team and I thinkMahmood is a you know, a single
producer.
But both of them just had youknow.
You know, mahmood actuallyreminded me of, like the Keldian
community I think he was in theJordanian community of Oklahoma
(14:16):
and Joe Joe was in the Arizonacommunity and has a 12 person
team and and Joe was just likealmost like a psychologist to me
, like the way he spoke, I waslike I can use a guy like that
around me, because he kind ofjust called me down and he was
like your ID Aren't you?
Speaker 2 (14:34):
and I was like yeah, like yeah, how much longer we
gonna be on this call?
Speaker 4 (14:40):
He was calling me up because I was changing the
backgrounds of my images whilehe was talking, because I can't
pay attention.
For more than like four minutes.
So you know, just again meetingmeeting so many.
You know you know great randompeople.
Honestly I would say KurtShewell's probably.
You know one of my favorites.
(15:00):
You know just, you know the guyI look up to.
I love his storytelling.
Just sincere eyes.
You know I'm a I'm a bigemotional intelligence guy, so I
love reading into people andjust kind of you know, seeing
where their minds and hearts are.
And you know I'd say he'sprobably probably one of my
favorites within the expcommunity.
You know just a lot of greatpeople.
(15:21):
I love seeing a young, you know, you know team dynamic, a young
leader too.
So like honestly, you knowHunter Potter.
You know the energy that thatguy's been bringing To the, to
the industry, and what he's beenable to do is become a very
good friend of mine just fromwithin the exp community, and
(15:43):
you know I expect great thingsout of that guy, but that's just
it.
You know, you just meet these,these random people across the
community and, honestly, withinother Other brokerages as well,
and it's all about the push youknow a lot of you know young
professionals coming in from youknow Humble backgrounds and
just seeing them fight to makeit, you know, you know.
(16:07):
Then we have the conversation of, you know, hustler versus CEO.
You know, trying to put downthe, the hustler, at some point
in your career.
Like you're still doingshowings on Saturday and Sunday,
that's wonderful, you'recranking them out, but are you
growing your business, you know.
So I like to have thoseconversations with these
professionals too and honestly,I think the same way sometimes,
because I'm still out hereproducing, I'm still putting up
(16:27):
loans.
You'll call me tonight at 9 pm.
I'll answer your phone, I'lltake your line application.
Absolutely, I will, you know isthat what's?
best for my business.
No, but at this point in ourcareer we're gonna you get every
deal done effectively that wecan, and that's just how it has
to happen, why would you saythat that's not best for your
business?
Speaker 3 (16:42):
That's an interesting statement.
Speaker 4 (16:44):
Yep, so it's.
It just comes down to the, thelogic.
You know you typically, youdon't.
You know it's like, it's likeyou know having a you know, you
know management of any companyDo the work rather than focusing
on how more people could do thework more effectively right.
So working, you know, in yourbusiness versus on your business
(17:06):
right Yep.
So, you know, you know,sometimes being in the thick of
things, I think, puts us at anadvantage because, realistically
, I'm I'm experiencing whatyou're experiencing like, hey,
if one of our lenders pricingisn't Super effective today for
whatever reason and you know I'mseeing that too and I'm like,
(17:27):
shoot, I'm losing deals toobecause realistically, our, our,
our lenders pricing isn't thestrongest, and hey, maybe we
suggest using another lenderright now, even though they
might be slower, right, and soseeing things like that are
essentially gonna help you Be abetter loan officer and help
guide your team better.
But at the same time again, youknow, sometimes you look at it
(17:48):
like the time I spent doing oneloan that maybe generated you
know, $8,000 in revenue I shouldhave, should I have been
helping 40 people be moreeffective, generating two more
loans each?
And the obvious answer is that,right, you want to.
You want to help the majority.
Speaker 3 (18:08):
Wow, interesting.
And that's the conversationthat you're having with, with
realtors and Icons is trying toget them to transcend past your
working in your business to whoelse can you bring in to work in
your business so that you canstart working on your business?
Speaker 4 (18:22):
Oh, yeah, oh yeah, I tell realtors all the time.
I'm just like real basic youstart as a single.
You know Because I've beenthere before keep in mind.
Speaker 1 (18:28):
Yeah, I've been that realtor that was doing showings
and I was going right in theLoan after right.
Speaker 4 (18:33):
So I always say, you know, you start as a realtor and
honestly, you guys are huge onthis too because, like I was
kind of Resort back to you guysto say what can we do for this
guy, so single producer and the?
You know, first thing he needsis an ISA right.
The second things he needs is abuyer's agent, because it just
comes down to logic and time.
If I'm running around showinghouses 10 houses a day Sometimes
I just can't run my businesseffectively because I'm running
(18:55):
around all day, even though myoffice is in my car, you know
and then that can effectivelykind of make that work as soon
as you get into management ofseveral employees or staff.
Good luck being, you know, onsolo all day doing showings.
It's not gonna work.
Yeah, at some point in time,you know.
(19:16):
You know We've talked to acouple realtors that went back
and said you know I'm gonna goahead and powerhouse, you know,
my ISA and my leads and myfollow-up and go ahead and
distribute those leads out to myteams.
And and again, that's you knowkind of.
You know the, the control board, you know being in that back
(19:36):
end to make sure that Leads aregoing out to the team.
And that takes a lot ofmanagement, a lot of time.
And and again, you know youknow showing homes as as
effective and fulfilling as itis because, trust me, I miss it
too, like I love shakingsomebody's hand walking through
the house always.
I just always tell people ITalk shit about houses.
I don't sell houses.
The shit I'm talking Offer in.
Speaker 2 (20:13):
Well, what one of the things that that we like, that
we get to see with you every daytoo, is like you're a relations
, you know your relationshipbuilding.
Yes, I mean and the you're that, that's one, and I can see you
missing the real estate.
Speaker 4 (20:26):
Yeah, yeah, no, I enjoy it, I enjoy, I actually
you know, really like.
You know, I meeting anybodythat's trying to grow their team
Cause I'm a planner.
I mean that's just I don't knowwhy, but my brain enjoys
planning.
So I actually enjoy mortgages.
Speaker 1 (20:42):
Yeah.
Speaker 4 (20:44):
I enjoy mortgages.
I enjoy talking to you andsaying, hey, let's look at your
taxes and let's you know, seewhat your income is, let's see
where your credit is.
Oh, you got a little boo boo onthere.
Let's fix that boo boo.
Okay, yeah, let's get your cashright.
Let's see what plan I can fityou in If that plan doesn't work
.
I have a backup plan for you,like I'm going to, if you talk
(21:06):
to me or pretty much you knowanybody in this company, because
they all have access to me yourloans getting done if it's
doable.
So I mean that's.
That's one of the best thingsabout us.
We're monsters, I'm creative asshit you like.
Speaker 3 (21:18):
You like doing that more than you.
You liked walking somebodythrough a house for the first
time.
Yeah, Got you, yeah.
Speaker 4 (21:24):
It's easier and, realistically, I get to learn so
much about you, cause if you're, if we're doing a mortgage
together, I pretty much knoweverything about you and I can
look at your credit port andassess your personality.
Speaker 3 (21:34):
So you, what you're basically saying is I got
blackmail on everybody.
It's really cool though.
Speaker 4 (21:43):
You can actually like , like, like you know, you see
somebody's credit report squeakyclean, nothing late, I'm like,
oh, that guy's, you know.
On point and this life istogether and you know, keeps
everything perfect.
And then you get the guy thatyou know.
You can even see that the datesof when things happen.
So you're like, oh okay, roughcouple of 18, 19 tough times and
(22:03):
you know, yeah, I got a divorce, got a shit.
Situation happened a couple ofyears ago.
I get it, man.
Hey, we all, we all gotsomething.
Trust me, I you know, I've hadthe ups and the downs and, but
the credit report just gives youa true picture.
By the way, they're actuallychanging the way credit reports
are going to score.
Probably with the next year ortwo they're going to do more of
a today, it's more of a snapshot.
Speaker 1 (22:25):
Yeah, yeah.
Speaker 4 (22:26):
Right, so you're actually seeing where somebody
is today.
I always say it's kind of likea balance sheet Like, yeah,
that's where you are today.
Not many people get that ideaeither.
But a balance sheet basicallyshows assets and liabilities at
a point in time.
So you know, a credit reportshows credit in late and
collections at a point in time,but they'll actually go to a
(22:46):
scoring system where it actuallyshows progress over time, which
makes a lot more sense to mebecause Interesting.
Yeah, the guy that fucked up.
I could say fucked up on here,because it's a podcast.
Speaker 3 (22:58):
We also have our 32nd late sensor button.
Oh yeah, that's our trademark32nd late sensor button.
So yes, you can.
That's the fun part about thisyou get to say whatever you want
.
Speaker 4 (23:10):
Right, but basically they'll do a scoring model now
to where you're actually lookingat how much better somebody got
within the past two years.
Speaker 3 (23:23):
Interesting.
Speaker 1 (23:23):
And re-score They've changed the industry in general.
Speaker 4 (23:27):
Yeah, because now it's not so much like oh you
have two collections that arebringing you down to a 580 FICO.
Oh, you've been doing greatover the past two years.
We're not gonna focus on thatas much, which makes a lot more
sense it does.
Speaker 2 (23:40):
I mean like because for the longest time we gave out
credit cards like candy tocollege kids and they ruined
their credit in college and thenit's almost every 10 years
later, right, they're like Idon't even use my credit.
Speaker 4 (23:51):
Yeah, I don't even know what that is.
They have one discover cardwith a $300 spending limit and
their credits shot to shit,right.
Speaker 3 (23:58):
Because of that one card I'm like, okay, that's it.
Speaker 4 (24:00):
Thanks.
Speaker 2 (24:00):
Bass Pro Shop.
Speaker 4 (24:01):
Yeah, seriously, I just wanted to go fishing.
Speaker 3 (24:05):
Now I gotta have a bag of bad credit for myself.
Now I can't buy a house.
Speaker 2 (24:11):
But I know how to fish.
Speaker 4 (24:13):
Yeah, and I caught a musky.
Speaker 2 (24:19):
It ruined all the gear.
Speaker 4 (24:20):
I had to buy more, but I couldn't get credit.
Speaker 3 (24:25):
So do you think that that's gonna that's really
interesting.
I had no idea about that.
Do you think that that's goingto like like screw up collection
agencies and make them reallysuper mad now, all of a sudden?
Speaker 4 (24:34):
No.
Okay, good yeah they have thisdown pecked.
Speaker 3 (24:37):
They know what they're doing.
Speaker 4 (24:39):
They know what they're doing.
Speaker 3 (24:40):
Because that's kind of like their big play right,
Like-.
Speaker 4 (24:42):
This is where government and lobbyists come
and play.
They'll never stop, you know,big organizations from making-.
They'll modify the way peoplemake money, but they'll never
stop.
You know the way they docertain things.
I mean to me honestly, likewithout lack of or for lack of
better terms, credit is rigged.
Okay, because realistically, howare you somebody that was 18,
(25:02):
19 years old, made some mistakesand I don't have one easy way
to go clean that up for a fee,Like, come on, like you know,
and that's gonna ruin my lifeand make me pay higher interest
on everything for years.
Speaker 2 (25:15):
And your insurance rates are going up.
Speaker 4 (25:17):
Your insurance, your car policy, your car interest
rate, your the products that youcan buy.
You know so many people getconfused about this new rule.
That happened with you.
Know people with worse creditcan get a bigger advantage in
getting a house, which Iactually like it.
I mean, I think it helps peopleout and, yes, anybody with good
(25:39):
credits like well, screw that.
Why should I have to payanything more for having, you
know, good credit, when peoplewith worse credit kind of are?
Speaker 3 (25:47):
getting what's coming to them.
Speaker 4 (25:48):
You know, and you know at the end of the day you
know it's anybody with bettercredit is getting the better
advantage when it comes togetting a mortgage or anything.
But it's just helping thepeople with the worst credit a
little bit more, and it'stypically, you know, an
equivalent to less than a couplethousand dollars for a you know
(26:09):
a smaller.
Call it $200,000 house or so.
Speaker 3 (26:13):
But you know, just another consideration there too,
yeah, but so, with this newsystem that they're going into,
then that it's designed to help,like you said, the person that?
Let me ask you this because Idon't know about this?
Speaker 1 (26:30):
I don't prove it.
Speaker 3 (26:31):
Is it true that there's some people that, just
for whatever reason, they'relike pulled out of some lottery
and the credit system just saysyou're never gonna be deemed to
have credit?
No, have you ever heard that?
No, Really.
Speaker 2 (26:44):
Yeah, see, I heard that I thought that happened to
me Did you have your tinfoil haton.
Speaker 3 (26:53):
No, no, listen, I was listening.
Speaker 4 (26:54):
It's a fair system.
It works.
Speaker 3 (26:55):
Yeah.
Speaker 4 (26:56):
It works.
I mean it's fair.
I mean I've never really seen acredit report where like this
is not fair.
Just that one situation I toldyou guys, about which somebody
has a $300 credit card.
They don't really, they don'treally use credit right, because
not?
Using credit also gives you badcredit right, no credit right,
which is now you're only gonnago buy a house which you have no
credit.
Well, options are limited.
Speaker 2 (27:14):
Yeah, right.
Speaker 4 (27:16):
You know, realistically, you need good
credit to buy a house whichmakes sense.
Speaker 2 (27:19):
You know, hey, I'm not gonna lend you money if your
credit's shit.
Well yeah, I'm not gonna lendyou a $300,000 if your credit's
shit, yeah.
Speaker 4 (27:25):
If you haven't ever paid your $300,000 to the
discovery bill, yeah right, youknow I wouldn't have no way of
paying me back, but I love you,yeah yeah.
There's no emotions in thisgame.
Speaker 3 (27:36):
So going to this new system where they're looking at
you know how much you'veimproved yes, that kind of makes
me think so, like if you'regonna screw up, like is now the
time.
Speaker 4 (27:51):
No, I mean I'm sure that I'm sure they figured out
their algorithm as to howthey're gonna grade it Like is
this another GameStop momentright here where somebody can
just go out?
Speaker 3 (27:59):
It's gonna change things.
Speaker 4 (28:01):
It's gonna change things.
Yeah, I'm even talking to someof our you know credit repair
partners and I'm like, well, wegot a plan for that too, because
it's you know how you?
You know, help people repairtheir credit is essentially
getting rid of collections,getting rid of leads.
Speaker 1 (28:14):
And now you know you gotta look at okay progress over
time, like you know.
Speaker 4 (28:19):
Maybe hopefully there'll be less of an influence
on what I made a mistake onfive years ago that I've never
been able to get rid of.
You know that.
You know even people paying offtheir collections, but they
still sit on their damn creditreport with a zero balance,
still affecting their overallFICO, even though it's a
non-existent collection or debtthat's been handled.
Speaker 1 (28:38):
you know it's just like ugh.
Speaker 4 (28:40):
And then a lot of people don't know that you can
actually get rid of ever since Iwanna say 2022, 2022, they came
out with a rule I wanna sayJune-ish that if you have a
medical collection and you payit in full, I can remove it
right off your credit reportwithin like a couple days and
you don't even have to go tooin-depth with that.
But I think crucial.
I really love helping peopleequalize out their credit to be
able to get a better loan.
Yeah, yeah.
(29:01):
You know, and I think it's justyou know, fair Like an FHA loan
is a great loan.
You'd still get so many peopleinto homes, it's a great product
, but you know there's just thatupfront PMI, that 1.75% that
everybody pays, and even thoughit's not paid out upfront, it's
incurred upfront and for thatsame amount of money you could
probably just improve yourcredit and it's gonna make your
(29:22):
whole life cheaper.
Speaker 3 (29:23):
Explain?
Can you explain a little bitdeeper?
Just as real as we hear thisstuff, we don't necessarily
understand this stuff which iswhy I don't fucking listen.
I don't fucking understand.
There you go, sorry, sorry, butyeah.
So explain that in-depth to Yep, yep.
Speaker 4 (29:44):
So yeah, I mean I tell people all the time, like
one of the primary differencesbetween an FHA loan and a
conventional loan, because eventhough conventional loans might
have higher interest rates today, some people are like I want
the better payment, you know,but there's that 1.75% on all
FHA loans upfront PMI.
So I do a $200,000 loan, youknow, was that 1.75%?
(30:05):
About $3,500.
Okay, that's paid.
It incurred upfront and you'renot getting away from that.
You have to pay that no matterwhat.
You might not pay it today butyou're gonna pay it right Now.
That's $3,500.
Now, if you had the money and alot of people don't right.
That's okay sometimes, but ifyou had the money, would you
rather spend $2,000 on fixingyour credit?
(30:26):
So essentially I save $1,500and I get a better credit score,
which means I get a bettermortgage, I get better interest
rates on my car right and Idon't incur the upfront PMI.
So that's why we likeconventional loans, because
there's not that upfront costright incurred but at the same
time, if for some reason wecan't get a conventional loan,
(30:48):
FHA loans are great, the bestsecond option, right.
So it's still something you canuse, and on top of the higher
concessions with a lower downpayment.
It was really well thought out.
But at the end of the day, thegoal is, hey, I'm gonna pull in
this higher interest rate today,even if I'm on a conventional
loan where the interest rate'sworse than a FHA loans rate.
Today I can eventually get ridof that PMI faster and not be
(31:12):
stuck in this for 20, 30 yearsand we know where interest rates
are Very likely to drop in thenext 16 months or so, and when
they do again, you wanna be inthat best product possible,
because that's what's gonnahappen again.
Interesting People are gonnalock back into, hopefully,
something in the high fours, midfives and that's gonna be the
new 3% interest rate of 2020.
(31:34):
The 5% interest rate of 2024.
Yeah, hopefully.
Speaker 3 (31:42):
Wow.
So that's right there, thatconversation and being able to
have that, even with a realtorand this is why it's key to get
with a lender that can explainthis stuff out right but as a
realtor, this is the type ofthing that we need to know,
because that balancing againbalancing sheet that you just
did for somebody, that's not aconversation I've ever even
thought to have with the clientsbefore myself personally.
(32:05):
Have you ever had thatconversation?
Well, you came from, so you didthis stuff to kinda do.
Speaker 2 (32:09):
Sort of, but we never .
It was never.
As this is the little beautythings of National Mortgage Home
Loans is you get thisconsultative.
Well, you get this consultativeapproach right, he's rubbing my
foot.
It's not just but like sotypically, because, yeah, I was
in the mortgage game before,right, I worked at Quicken.
But typically mortgage guys arejust the guy in the phone.
(32:32):
You never see them or meet them.
They never get face to facewith your mortgage guy.
Now you do here, right, howmany agents and clients have you
sat with at your desk?
It's my preferred method.
I've been right and had thisconversation.
Speaker 4 (32:46):
Yeah, or on Zoom.
Honestly, the Zoom calls arepretty much as intimate as in
personal meetings.
Speaker 2 (32:53):
Yeah, and even our other Wolf had a guy come in the
other day and sat down with abuyer and I see Damola do it and
we've had agents that just comein.
They sit down in our conferencerooms and the agent comes in,
your loan officer comes in, theclient comes in and man like
that's a dream for.
Speaker 4 (33:11):
It is yep.
Somebody that's trying to buyout Yep it's essentially a
descendant of our 2016 one-stopshop method, where I used to
again show houses and clearconditions for the same
transaction for one of myclients and essentially we do
that, but now there's severalpeople doing it rather than.
Speaker 2 (33:32):
Fabian and Randy, Right, right and then.
So that kind of leads me tothis next question, Like when
you guys decided to do this andrun full in, what was the
original vision, and are youstill on?
Ooh, that's such a goodquestion.
Yeah, what was the originalvision?
Are we on track for that vision?
Speaker 4 (33:50):
Yeah, yeah, yes and no, I think, like in the.
So keep in mind, I'm a CPA too,so I think at some point in
time me and Randy were like wejust want a big ass building
right.
Speaker 3 (34:01):
Wait, you were even saying that.
Yeah, yeah, oh, man.
Speaker 4 (34:03):
Big ass building.
I don't know how big.
We got a 15,000 square footbuilding now, so that's a good
size, but a good portion of it'srented out.
Maybe over time we'll takeanother side of it too and kind
of expand over there.
Speaker 2 (34:14):
We need it, yep.
Speaker 1 (34:15):
We're going that way, sooner or later.
Speaker 4 (34:19):
And a financial services company was the thought
process, but obviously yougotta start somewhere, so it's
like you have personal financial.
So you got what?
Financial advisory?
You got taxes and accounting.
You got mortgages and realestate all in one place that was
(34:40):
you wanted to create a legacycompany that our families would
be able to have forever and passon to our children.
That's kind of the thoughtprocess in the beginning.
Now again now we're, pound forpound, one of the strongest
mortgage brokers in the country,and so I think we're definitely
(35:02):
headed in the right direction.
We need it to take a directpath, doing too much at the same
time, which, again, we tapereddown in 2020 with the advice of
some great executives that wewere talking to, to really
hunker in on the mortgage side.
But again, there's so manyelements from our past that we
(35:23):
just use differently than anyother company, and really that's
the birth of our accountexecutive department here.
One of the, I think, most wellthought out departments really
of any mortgage company,something that I don't think
anybody can do as good asnational mortgage home loans,
which is the growth of realtorsacross the country and maybe one
(35:48):
day across the world, right,but helping downlines and teams
and even individual agents thatwant to grow and essentially
create the same legacy thatwe're trying to create here in
their own geographical locations.
So yeah, the account executivedepartment of national mortgage
(36:09):
home loans to me is thedifference maker.
Huge goal this year 500, right.
The 500, like the 300 fromSparta, but the 500 realtors of
Sparta.
Speaker 3 (36:28):
I feel like we should have 500 realtors of enemy
shell.
We should all start taking ourshirts off and get some more
pain.
I feel like we need some HGHfirst.
Speaker 4 (36:38):
I'll do it if you do it.
There's like seven guys outthere, right now, yeah, but no,
honestly, it's exciting thisaccount executive department.
So this is like the true enemyshell difference maker right,
that, yes, we have a refi team.
They're strong, they're great,they work.
Those phones right.
But we're also taking realtorsand hybriding them and giving
(36:59):
them a new way to make money Inconjunction with mortgage,
because we know the two arecorrelated, right, but the
beautiful part is we're alsotaking coaches right.
We're taking transactioncoordinators right.
We're taking realtors andsaying, hey, beyond you buying
and selling homes, which wealways want you to have a strong
(37:20):
focus on, do you have interestin helping other realtors grow?
right, and if you do, then wewant to talk to you here at
National Mortgage Home Loansbecause, realistically, it just
changes the dynamic of yourbusiness, maybe showing houses
as much money as it's made youor as good as it's done for you
isn't fulfilling you at thispart of your life, and now we
(37:42):
can go ahead and help you adaptright.
Or if you are growing a team,come work with us and experience
having coaching, havingconsultation, being part of a
group like even when we go toEXPCon or Shareholder Summit or
any other event always have thebiggest group right.
Speaker 2 (38:03):
Randy's usually leading the way you know.
Speaker 4 (38:05):
And throwing the party and having a good time.
But it's such a great crewbecause essentially we're just
extended family, right andeverything.
Family's always been the basisof this company, you know, and.
But the extended family isbeautiful because now we go to
all hopefully all 50 states oneday and we have family in every
state, people that we love, thatwe work with, that we grow
(38:26):
together with, but just theaccount executive department
again our way of making surerealtors are on the right path,
and we know we're all gonna havegood and bad years and we're
all gonna have differentchallenges that we face.
But realistically, together wefeel like we can handle.
You know pretty much anything.
(38:47):
Yeah right, cuz you knowthere's nothing I can go to you
know, johnny, for systems andtech and creativity and and
Shoot and I mean, I can't eventhink of half the things you
know and then you go to Jimmy onthe coaching, the
accountability, the Managing ofteams and and protocol to follow
(39:11):
and and at the same time youknow it's.
It's not all you know black andwhite.
There's a lot of you knowPersonability in this too, and
understanding who you're workingwith and and how they need to
work but again, from 40 personteam down to single agent, we
(39:31):
can help you grow and and Ithink that's just a beautiful
message and it's a great way tostart a relationship and and we
believe in reciprocity wetypically give before we receive
, yeah.
Speaker 2 (39:41):
Yeah, well, that yesterday I mean yesterday was a
Was a good day for you and Iyeah, right, that was exciting.
Yeah, it was a good day, but wegot what we created a
relationship in in Houston Texas.
Yes just by picking up thephone.
Yeah, I'm giving and giving,yes, right, and now it's your
giver yeah, was that Texas oh.
Speaker 3 (40:24):
Yeah, Tim just answered the question.
This is this is Fabian GammoNational mortgage home loans the
other brother.
Speaker 2 (40:36):
The funny thing is like I remember the like, what
like, when I first came overhere they were speaking about
buildings.
Yeah, and I'll give you alittle insight of what happened.
Randy was walking out of hereone day and I'm like where you
going?
He's like don't tell Fabian.
Speaker 3 (40:54):
Which is why would he said that he was interested.
The building too.
I remember here in that too,like I remember Fabian saying,
or Randy saying in a meeting onetime he's like guys, we were
already filling this up.
Like this is when we firstopened the doors.
Pretty soon we're gonna need tobuy a whole mother building and
fame is like no, oh, randy waslike that afternoon.
Speaker 4 (41:19):
I got it.
I got to tame that bullsometimes.
Speaker 3 (41:22):
Feel like you're kind of the wife and the.
Speaker 4 (41:28):
Guys gotta remember have a CPA back, right?
Yeah, my mind goes to likeworking capital.
You don't need assets right now, we need to.
You know, focus on, you know,growth and profits and Making
sure the revenues to where weneed it.
Speaker 3 (41:42):
You know and does that ever lead to any huge like.
I want to back up because weonly have a couple minutes left.
Speaker 1 (41:49):
I want to start here, I know it goes fast doesn't it?
Speaker 3 (41:51):
Wow, I want to start here.
Speaker 4 (41:52):
I want to just getting started, yeah you know
we have this.
Speaker 3 (42:02):
We.
You talked about going from the50 all the way down to the one
and now we're a company ofalmost a hundred.
No, I want to back that up allthe way down to the one.
Okay, were you and Randy likealways real close where you guys
always doing?
Did you run an lemonade standtogether, like what was it?
Like what was little Fabian,little Rand?
Speaker 4 (42:17):
Oh, this was interesting.
Speaker 3 (42:18):
Yeah, yeah.
Speaker 4 (42:19):
I'll give you a couple stories.
Speaker 3 (42:20):
Yeah, yeah, that's what I want so one time I think
I spilled rice or something.
Speaker 4 (42:24):
All right, I spilled rice and in the kitchen and my
mom came and you know, yellingat me.
Speaker 1 (42:30):
She might have hit me , I don't remember at the time
you know our family.
Speaker 4 (42:34):
It was you know we weren't scared to show our
emotions at the time.
But then I remember Randy goingand what you might call it,
actually cleaning up the messfor me and telling my mom to
back off of me.
And you know it was just youknow.
That's one thing that jogs mymemory.
I remember another time I wokeup in the middle and I peed my
(42:55):
bed.
Speaker 2 (42:56):
Right, okay.
Speaker 4 (42:56):
Yeah, I'm probably like in Randy had his own room,
I had my own room, and then Iwoke up Randy and I woke up my
parents and he came, changed mysheets and you know.
I went back to sleep after sojust it gives you an idea there.
You know, randy's six yearsolder than me, so it's always
been kind of like older brotherand then, you know, at some
(43:18):
points of her life, fatherly,you know, really.
Just you know, coming in, youknow, and Trying to make sure
I'm always doing the rightthings.
You know, while he was, youknow, helping support my family.
He's like you go to college andyou know, go ahead and see what
you can do with that.
I got my, got my accountingdegree from Michigan State
University, got my CPA license.
(43:38):
You know, always wanted to havethat there.
But then it got to a point intime where I was like you know
what?
Speaker 1 (43:43):
I want to do this with you, you know, let's, let's
see what we can grow togetherand.
Speaker 4 (43:48):
So there's always a respect factor there.
You know, even though I love tochallenge him and and make
things competitive, you knowthere's gonna be weaknesses he
has.
There's gonna be weaknesses.
I have, and you know, the goalsto always make each other
better, even if that meansthrowing jabs sometimes, and
that's just part of the game.
You know, your brothers, it's,it's emotional, it's.
You know there's constantfeelings and stress and at the
(44:09):
same time, at the end of the day, if we're not getting better
because of the challenges we'refacing, then you know what are
we doing?
Speaker 2 (44:17):
You know, and that's just what it comes down to, is a
wife and bother doing?
Speaker 4 (44:20):
all I bother.
Speaker 2 (44:21):
Yeah, exactly.
Speaker 3 (44:22):
So did you guys ever?
Is the first business that youdid together National mortgage,
or did you guys ever do anythingbefore this?
Speaker 4 (44:30):
nope national mortgage.
Speaker 3 (44:31):
Wow, yeah, and you didn't.
So you so Randy, randy's offstarting this company and we've
heard that story.
He's helping the family.
Yeah, you go off to college andthen at what point in time did
you decide to come into this andhow did that all work?
Like?
How did you?
Speaker 4 (44:47):
yeah, there's actually a legendary story to
this.
Speaker 2 (44:52):
I think we've had, I think I've heard this story.
Well it's.
Speaker 4 (44:55):
I don't know which version you've heard, but yeah,
well, so we were all actuallysitting.
Like Randy already knew that,you know I was working as a CPA.
I enjoyed it.
You know I enjoyed, enjoyed theconsultative approach, actually
worked for UHY for a while andI went to them one day and I was
like guys, I really enjoyed thesales part of this.
But I don't really like sittinghere doing these spreadsheets
(45:15):
all day.
Speaker 3 (45:15):
They kind of you know it's not really you know.
Speaker 4 (45:18):
My tinker, you know, doesn't think, and so Randy
already knew you know I was.
I was taking focus medicationjust to like it myself through
(45:38):
the day and I just, you know,kind of dragging ass.
You know I didn't really Iwasn't feeling I wanted to kind
of get out there and just talkto people more and, honestly, a
lot of it comes back down to thereason I love mortgage and real
estate, which is, guys, if youwant to not sleep this month and
make sure you make a hundredthousand dollars to pay your
family's bills and get ahead andand you can right you can, you
can get creative, you can throwout some marketing, you can Show
(46:00):
up at people's doors at 8 am Inthe morning and and put in all
haul ass effort into making asmuch money as you wanted to
Right and that's what I lovedabout real estate and origin.
Speaker 1 (46:10):
I said at some point in my life I wanted control of
that right.
Speaker 4 (46:12):
I don't want to trade you know time for, for money
and without any you knowControlable upside potential
right.
And that's again why I lovethis industry, Because
realistically you can.
You can control it, Dependingon how hard and how smart you
want to work right.
(46:33):
So, anyways, one day we'resitting at the naughty right.
Do you guys know what thenaughty is?
Well, okay, yeah, so a naughtyis like a place where typically,
like we're, you know, we'reCaldean, but you'll see, like
Europeans kind of have like thiscafe hang out where the guys go
typically and they sit down andin our Notties you get like a
(46:54):
bottle of liquor.
So we'll do a bottle ofHennessy usually and you get the
bring the ice, they'll bringthe salads, they'll bring the
tikka, which is the steak bites,they'll bring the chickpeas,
and basically you'll you'llprobably, you know, sit through
one, two, three bottlessometimes and eat and drink
right for hours.
So used to play basketball thatwould go to the naughty after.
(47:15):
And one day we're actuallysitting with Jamie Benham, our
account executive at UWM, and wewere talking and you know this,
the idea came up once you guysGo ahead and start your own
brokerage up, and I was like,yeah, I'm kind of done with the,
the CPA side of things, eventhough I really loved, you know,
certain components of it.
It was just like I want thatnext challenge, what is that?
(47:36):
And I was looking right infront of me and I saw that Randy
, again, he was a single-manshow.
So this is just, you know, youknow, little brother, brain
working.
Hey one, I take the coattailsand see where you're not
capitalizing on allopportunities that are coming.
Your way yeah you know, hey,maybe I can do some loans for
you, maybe there's someconditions for you, maybe I can
do some showings for you.
Speaker 1 (47:56):
Maybe that might double your revenue, and that's
exactly what it did right, weactually doubled revenue.
Speaker 4 (48:01):
The first three years that we were in the business
together, right, and then itgets to a point where you're
like okay, you know now it'shard to double revenue right, as
we need more people right, and,and, and, and.
Then on top of revenue it'slike, oh shoot, revenues going
up and the profits are goingdown.
Speaker 2 (48:18):
So what the hell's going on?
I'm more people.
That's growth, yeah right.
Speaker 4 (48:21):
That's essentially what growth is.
You know, revenues going up andprofits are going down.
Sometimes profits are gonna gonegative while you're growing
right, and you just got to beprepared for that and play the
balancing act.
And that's essentially what yousee here seven years later,
right 2016 to 2023.
Well, double in revenue, doublein revenue, double in revenue.
Speaker 1 (48:39):
Then revenue starts to level out, then you find more
people, so you can continue togrow revenue and then profits
start to go down.
Speaker 4 (48:45):
But you have a way bigger company now, essentially
servicing 60 employees here,right?
So this big behemoth of amortgage company, that that that
helps realtors across thenation.
So that's the short story, butessentially, yes, national
mortgage home loans was createdat the naughty oh, there you go.
Speaker 2 (49:06):
Thank you, jamie Benham.
Speaker 4 (49:08):
We owe another Fifth of Hennessy and some some, as to
continue our growth.
Speaker 2 (49:15):
I'll just let us know what time to be there.
Speaker 4 (49:17):
Absolutely.
Yeah, everybody can come.
Speaker 3 (49:19):
Oh, it's not.
I thought it was an exclusivetype deal.
Speaker 4 (49:23):
No, no, no, anybody can come Well.
Speaker 2 (49:24):
I'm honorary Kelly.
Speaker 3 (49:29):
You have the card in your wallet, right?
Speaker 4 (49:30):
Yeah, you can show that anybody and actually some
of the best like food You'llever have, because they, you
know it's pretty.
Yeah, it's great stuff, likesome good steak, but it's some
good salads.
Look at the eggplant salad andthat's.
The whole thought process islike kind of like.
I don't know what you guys doon Christmas, but a lot of times
on Christmas you know they gotall the food set up and that's
what we do.
We get you know some cow tongueand some chickpeas.
Speaker 1 (49:52):
I'm serious, that's what we do, yeah, and I'm down a
fifth of Hennessy.
Speaker 4 (49:55):
Yes but, but it goes a lot better when you eat as you
drink, yeah, rather than justdrinking.
Speaker 2 (50:01):
Yeah, no, that's Wednesday.
Yeah could be Friday free forall.
Friday.
Baby, let's go, let's do it.
Yeah, we found favorite of.
Fabian's favorite button.
Hey, yeah, that's the.
Speaker 4 (50:21):
Now the name of this podcast episode.
Speaker 3 (50:26):
So, what we kind of went.
We went back and forth andstuff.
What do you think?
I want to touch on this so thatwe can end here with some
practical things for realtortouches you will.
Johnny, what are some thingsthat, like you were talking
about, you know credit and justsome of the mindset getting with
(50:47):
the buyer to help them figureout later On down the road, like
what's the one thing you couldsay, either as the CP, well, as
you, as the CPA, as the realtorbroker, as a Mortgage person, as
a business owner, what's theone piece of advice that you
would give to a real estateagent to help them with their
(51:07):
clients today?
Speaker 4 (51:11):
Yeah, I would say the latch and what I mean by the
latch is the financial componentto me is probably the most
important component ofpurchasing a home.
Obviously you have a grade Aclient that just knows they'll
get a proof or whatever they'relooking for, and then it becomes
(51:31):
less of a focus.
But the average person, whichthere's way more of, and
especially in today's market,you know we're really catering
to the first time home buyers,the lower FICO.
So it's hard to say one thing,because we have to look at
today's market, right, andtoday's market is who's buying
as people that need to buy?
(51:52):
Right, my apartment's too small, I don't have a house, I'm
getting married andrealistically, when interest
rates are high and prices arehigher relatively speaking,
right, they're still buying.
And so that's who we need tofocus on because, realistically,
unless somebody has a bunch ofcash and they're ready to cash
something out which in even inthat case they're paying a
(52:13):
higher, higher price, right, andthen they, then they, otherwise
would have.
Realistically, we need to focuson the planning of the finances
first to create a latch.
So so what?
I would tell any realtors thatyou typically need a strong
mortgage broker, and if you canfind a you know, a mortgage
(52:35):
broker on steroids like that,that I consider we are right and
realistically again.
Speaker 3 (52:42):
I know at least seven of those guys, yeah.
Speaker 4 (52:45):
Taking something HGH right.
Speaker 2 (52:49):
Plan after today Yep.
Speaker 4 (52:50):
But but a lender partner.
Because?
Because?
Speaker 2 (53:00):
it's a social proof.
Speaker 4 (53:01):
But yeah, just getting back into that, creating
that, let's because you knowagain when I talk to a client
about a preapproval.
Speaker 1 (53:09):
I'm talking about your credit.
I'm talking about your cash.
Speaker 4 (53:11):
I'm talking about why you're moving and why you know,
even though you can afford a$400,000 house, why you should
only buy a house for 280 today.
Because it fits within yourbudget.
Better, right, and now thatI've created that emotional
latch, I've talked to that plan,about that plan with you.
Now we bring the realtor backin and we're like, hey, we can
afford this.
And if you have to go here, go,because realistically, this is
(53:32):
my livelihood and my house andmy happiness right on the line
here.
But at the same time, if we canfind a range right here, it's
going to be best for my, mybudget, my finances, my family.
So I'm not living for my house.
We still want to take vacations.
We still want to save forcollege right, we still want to
you know, put some money asidefor this or that, right, and so
(53:55):
that's why really looking atreal estate as a financial plan
via a mortgage broker is crucialand again, the steroids with
national mortgage home loans isgetting coaching, getting growth
, getting world-class ideologyin the growth of your company
(54:16):
via the partners that are thatare here and and how we can help
pretty much any realtor orrealtor team or downline across
the nation.
So kudos to you guys on youraccomplishments with this
company so far and honestly,boys, it's only just begun.
Speaker 3 (54:34):
Oh man, did you hear that?
I think we just got invited toChristmas.
You're ready for the naughty, solet me ask this, then, for the
last five minutes here Yep, nowlet's transition into business
owner Again.
You have, you have been throughit when to call.
I mean, you've got the samestory as a lot of people out
(54:55):
there who might be at that point, maybe with a partner, maybe
with another family member, thatthey're ready to join and start
and actually start a businessventure.
What would your advice be onthat aspect, to actually go from
a realtor to a business owner?
Speaker 4 (55:12):
Oh, yeah, so you know , it's really time management, I
would say, is probably one ofthe best answers I could give
you, because, and proactiveversus reactive right I think
that's something probablyeverybody in this industry has a
(55:33):
problem with right, especiallyif you're, like you know, a
slave to this little device here, right.
Which I find myself doing on adaily basis.
My daughter's literally at thepoint where she's like Dad, off
the phone.
Dad, we need personal time withyou right and actually Joe that
I spoke to yesterday on my eyeconversation.
He was like Fabian, it's notabout how much time, it's about
(55:56):
the quality of the time that youhave with your kid.
And so, again, proactive versusreactive, and and I always like
whether I'm talking to a brandnew agent or somebody that you
know I could have 20 years inthe business that wants to
improve you know, time ends upbeing the X factor.
(56:17):
How am I using my time?
You know Ishbeah, when he wascoaching brokers on how to be
better, it's what am I doingthat I can have somebody else do
?
Right, because I'm trying tostay at my 500 an hour billable
right.
Speaker 1 (56:32):
Why the?
Speaker 4 (56:33):
fuck am I doing $15 an hour work Right and
realistically?
There's somebody very willingto do the $15 an hour work for
you.
So why are you doing it Rightand then being disciplined
enough to not let that happen?
Because I'm being proactivewith how I'm doing things, you
know.
Just that consideration.
Really, I always tell people,take a one week calendar route
(56:55):
and, even though you don't haveto follow it exact, take that
one week calendar Monday throughFriday, you know, 5am to 8pm.
That's typically a normal youknow, awake time.
And and write down what youshould be doing in your you know
best picture, right, the bestway you should be, and you're
(57:16):
not going to follow it.
We know you're not going tofollow it because you're
naturally going to be reactivein this business, but discipline
yourself to do as much of it asyou can, however often as you
can.
Right, because if you can dothat, then at least you're
getting better, and at the pointwhere you optimized it, then,
hey, you'll probably be amultimillionaire because,
(57:37):
realistically, you're doingexactly what the hell you should
be doing, right, and you're notspending time doing things that
you shouldn't be doing, becauseyou've effectively found ways
to make enough money to paypeople to do the things that
that you shouldn't be doing and,again, are at points in their
career where they're happy doingit for you.
You know whether it's a virtualassistant doing tasks for you
(58:00):
and ISA being paid a salary tocall you, with a strong bonus
structure.
You know it could be any idea,but realistically proactive
versus reactive for anybodytrying to grow their business
without it you're going to findyourself plateauing and unable
to get past it and realisticallydelegate to elevate because
(58:21):
that's going to be huge for you.
Speaker 3 (58:23):
Wow, that's that was.
That's a lot man that was apower pecked hour, jessica, we
will reach out.
She's asking about an appthat's branded to a real estate
agent and loan officer that shecould share with potential
clients.
We got your back.
Yeah, we'll reach out to youpersonally Anybody else that has
questions about that.
(58:43):
We will reach out to you aswell as post some links there on
the Facebook page.
But, Fabian, and that, that iswhat an hour looks like here on
free for all Friday and baby.
Speaker 4 (58:52):
I appreciate you guys .
Speaker 3 (58:54):
Don't go anywhere.
Stick around for those of youlistening to the podcast.
We are live every Friday atseven am Eastern and if you
stick around, live with us.
We do the afterburner, which iswhere people that follow us
live, right after the show, orwe get into just having some
more chitchat.
Get that uncensored afterburneryeah.
Speaker 4 (59:11):
Although I think it's .
Where's Joe Rogan?
Speaker 3 (59:16):
He's not awake at night, wake and bake and he
can't be coming through.
Speaker 2 (59:24):
Oh man.
Speaker 3 (59:24):
Well, so much Try Gus Fabian Gammo, the other brother
, for coming in.
Jimmy, you been fantastic,You've been awesome.
And for everybody else, we'lltalk to you next Friday.
Speaker 4 (59:36):
It's not working anymore.
Yeah, you.
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