South Florida Lending

www.SoFlaLending.com

Why You Left Your Last Job:   As with most financial institutions, the credit crunch in the banking industry forced my employer to cut back several positions in February 2009. These positions were in different business lines, including my position, which was a team leader for a commercial real estate lending division. Even after being told that my position was safe for 2009, I was shocked that Thursday in February when I was called to the bosses office and told the news.

How You Started Your Business:  Having been a commercial lender for almost 10 years, working for both small and large financial institutions, this lay off could not have come at a worst time. The national housing market was in flux, residential mortgage lending was crippled, the stock market was in a downward spiral, thousands lost their life savings in a ponzi scheme and the economy was in near recession. This was and continues to be trying times for the United States and the World.

After taking a breath and realizing that this was not the end of the world, I began to contact all of my lending partners from the past, but no one was hiring. I worked with 3 recruiters, who each set up an interview with different a lender, but no response or job offers. After 2 or 3 weeks, I quickly realized that I needed to do something, not only for myself, but for my family, which includes a 1 year old and 2 year old child and a housewife. Always having the entrepreneurial spirit and the state licensing to follow, I discussed with my wife the opening of my own mortgage brokerage business, leaving the corporate world behind me. This was probably the best decision we made. I say we, because without my wife's support and encouragement, this opportunity would not be possible.

In late March 2009, we opened South Florida Lending Consultants, Inc. We specialize in both residential and commercial loan placement, deal structure, real estate sales and acquisitions and leasing/management services. I immediately started to contact friends and customers to let them know of my new venture. Within 1 week, the phone started ringing from customers who had commercial deals that needed mortgage placement. They as I, were having difficulty in finding a bank that would lend money in the current rate environment. Not even relationship banks, that they had banked with for several years would work with them. I quickly realized that there was a need for me. Whether you were a developer, investor or contractor in the South Florida market, I started marketing and promoting South Florida Lending Consultants. I was open and ready to do business. My next challenge was finding banks who were lending. This seemed to be an easier task, given the fact that I was a lender for 10 years and knew most of the players in town. I would set up meeting after meeting after meeting, all in an effort to establish a working relationship with these banks. As deals come in, I underwrite the transaction and begin the work of securing a mortgage for my customers. I am proud to say, that I am hungrier and more focused than ever to make this work. As the old saying goes, when you are knocked down, you need to get up swinging and honestly my arms have not stopped swinging yet. To-date I have brokered almost $5 million in commercial deals, with a pipeline that grows every week.

What Does Success Mean To You:  Some say success is sweet, I say success equals happiness. Having two young children, the time I spent with my family was minimal because of the amount of time I put into my career. And for what, to be layed off with no income or job to show for it. I have learned that with owning my own business, comes controlling my own schedule and thus more family time. I will now be able to see my daughter walk her first steps, on occasion I can take my son to the park, I can even eat lunch with my wife every now and then. To me, this is success! Without my family's support, this would not be possible and I owe it to them to make South Florida Lending Consultants, Inc. a SUCCESS.

 

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