095: The Open Truth: Generating More Business When the Marketplace Shuts Down with Ira Zlotowitz
Ira Zlotowitz is an industry innovator who has helped to define the commercial real estate profession. He earned accolades as inclusion among Crain\u2019s NY Business\u2019 \u201cForty Under 40.\u201d In this podcast, he will talk about generating business during COVID19.
\nHis career began at Meridian Capital, where Ira integrated mastery of the cold call into the company\u2019s business model. He trained large teams of callers and helped launch offices nationwide. All of these helped trigger unprecedented growth for the company. One year prior to joining Meridian, the firm had closed $300 million in loans. By his final year there four years later, that figure would exceed $3 billion.
\nIn 2001, Mr. Zlotowitz joined Abraham Bergman in forming the Eastern Union. He continued to build his reputation for innovation, grit, and industry-wide disruption. Ira has aggressively integrated technology and market data into the company\u2019s business model. In addition, he dramatically accelerated the loan submission process and developed relationships between the company and more than 200 lenders.
\nEastern Union\u2019s new \u201cMulti-Family Group\u201d recently reset market pricing by introducing an unprecedented quarter-point fee. A \u201cno back-end fees\u201d for refinancing multifamily properties backed by Fannie Mae or Freddie Mac. Transactions which is also known as \u201cagency refinancings.\u201d The firm\u2019s groundbreaking eCALC app enables investors to fully value and underwrite deals instantaneously and in the palm of their hand.
\nEastern Union has grown from a four-person Brooklyn startup into a 100+ person firm that has achieved $5 billion in deal volume over the past year.
\n(00:01-03:00) Opening Segment\n\u2013 Introduction of the guest, Ira Zlotowitz into the show
\n\u2013 Ira shares something interesting about himself
\u2013 Ira tells how he got into real estate investing
\n\u2013 How to generate business when the marketplace shuts down?
\n\u2013 Role of technology and CRM in the business
\n\u2013 The steps that Ira took to get to the business plan
\n\u2013 Any changes in current processes in making a business plan work?
\n\u2013 What happens when there are changes in the process?
\n\u2013 Ira talks about his real estate boot camps
\n\u2013 Ira shares how did he come up with the training ideas of generating business during COVID19
\n\u2013 How does online training works? What are the processes of remote learning?
\n\u2013 Ira shares how he came up with virtual training and boot camps
\n\u2013 Is there something Ira would do differently if COVID19 didn\u2019t happen?
\u2013 Ira\u2019s advice to his younger self
\n\u2013 Biggest failure and the lessons Ira learned from it
\n\u2013 Importance of hiring an expert in the field
\n\u2013 How to take negatives positively
\n\u2013 Biggest success and its lessons
\u2013 Where does Ira see the industry adding over the next 12 months?
\n\u2013 What does Ira see will happen to the overall mortgages industry?
\u2013 Welcoming listeners back and re-introducing podcast guest, Ira
\n(27:29-30:50) Fire Round\n\u2013 Will Ira change his business strategy after Coronavirus?
\n\u2013 Favorite real estate finance or and personal development related book?
\n\u2013 Website or tools that Ira recommends
\n\u2013 How does Ira give back?
\n\u2013 How can Wealth Matters Podcast listeners reach out to Ira?
Reach out to Ira via email at iraz@easternunion.com