In this Respect The Grind podcast episode, host Stefan Aarnio has a spirited (often hilarious) conversation with Anchor Loans' CEO Steve Pollack, who shares real estate investing advice and discusses how he went from being an optometrist with a successful business to CEO of the nation's largest fix-and-flip lender.
Podcast Summary
00:54 – What hard money lending is all about and how Steve builds a win-win relationship with his clients.
05:32 – From optometrist to landlord, to pro poker player and how to lose your hair in your twenties.
09:41 – How Steve’s career funded the building of his empire -- and that one time the US Government gave away houses like candy.
14:36 – Steve’s third eye and how he predicted crucial market events that would both benefit and damage his economy.
17:54 – A great wrap up for a great story: how Steve’s company survived the 2008 catastrophe.
19:54 – Anchor Loans' client list and their take on their competition.
22:59 – The fortune teller strikes again: the data, historical cycles, and black swan events.
26:22 – International debt, negative interest rates, and the nostalgia of getting toasters from banks.
30:22 – Steve’s targeted borrowers and why he only partners up with educated and hard-working candidates.
35:09 – The importance of transitioning to social media and developing tight management software to build a strong company.
41:12 – Why self-awareness and honesty are key to being successful.
43:17 – Seriously though, can you make a living out of playing poker?
45:58 – The difference between teachers, coaches, and mentors.
