Episode #16 of Loan Officer Impact drops with a brand new guest, Adam Klugh. He was born and raised in Detroit, Michigan, before heading off to Spring Arbor University – a small, private Christian college. There, Adam studied biology, genetics, biological chemistry, and other nerdy subjects. Though his major was biology, his interest in Economics in Adam’s final year truly altered his path in life. Today, Adam resides in Bradenton, Florida, where he shows up daily to help educate his clients and help them to realize a plan for the future.
Getting started in the mortgage industry
Adam reflects on getting started in the mortgage industry and how he focused on many lower-credit applicants and first-time homebuyers. Adam found that not only did he have a knack for helping people understand and ultimately navigate the mortgage process, but he also had a passion for it. Without having any referral partners, Adam created this business to cater to folks within the 550 credit score range until COVID hit. Everything changed. Adam’s business was nearly wiped out completely.
The power of coaching
Like many loan officers, Adam faced tough decisions. COVID had altered the lending landscape for Adam. His previous customer base was no longer a viable solution, so with that Adam turned to mentorship and coaching. Over the weeks and months that followed, Adam began rebuilding his business. Working with referral partners and studying the success of his peers around him, Adam put together the formula that has brought him the success he enjoys today – never underestimate the power of coaching.
Branding the Mortgage Nerd
Since before becoming a loan officer, Adam had a genuine interest in mortgages. He saw the value in how the right mortgage could help shape his future. Combined with his passion for teaching people how to tailor a mortgage to fit their financial situation best, branding his business as the Mortgage Neard made perfect sense. So in 2020, Adam doubled down, built a website, and leaned heavily on the technology his company offered to get in front of more referral partners and communicate more effectively with his clients. This resurgence of energy in his business not only gave Adam direction but also an identity.
More on Adam Klugh from his bio on his website, adamthemortgagenerd.com
I was born and raised in Detroit, Michigan, before heading off to college at Spring Arbor University – a small, private Christian college. There, I studied biology, genetics, biological chemistry, and other nerdy subjects. My major was biology, but in my final year, I took an interest in economics. Little did I know how much this elective interest would alter my path.
After graduating, I followed in my father’s footsteps and started my career as a firefighter at the Toledo Fire and Rescue Department. There, I gained the rank of lieutenant (one of my proudest achievements), and I had the honor of commanding some of the finest-trained men and women in the industry.
While serving as a firefighter, I continued my economic studies, mainly concentrating on residential real estate investing. This was during the Great Recession, so the impact of housing on the average American and their understanding of the value of owning a home was redefined. I saw the opportunity and value of owning residential real estate, so I set out to obtain my real estate portfolio.
I needed more money, a moderate and steady government-issued salary, and a large assortment of student loans to get started. After getting a “no” from every lender I spoke to, I read through the mortgage guidelines myself to figure out how to buy a home. Eventually, I could purchase my first home and many rentals after that.
I returned to school to obtain my master’s degree, this time in finance. I became licensed as a mortgage loan officer and set out to help others achieve their dream of home ownership. Real estate is America’s most historically proven asset class. For most Americans, it has been the most reliable tool for wealth creation. I want to help those who desire to achieve the goal of home ownership by taking the proper steps to make a sound investment decision.
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