We just got back from a family vacation to Mexico. It was a great trip, where most afternoons were spent at a quite beach in a small town called Todos Santos.

The kids are old enough to entertain themselves with boogie boarding and digging holes, so that left Amanda and I time to do what we wanted to do…Work.

I know, I know. It sounds bad, but it was awesome.

Amanda is a writer, and she loves what she does. So for her, sitting on a beach, drinking a cold beer, while editing her latest book is as enjoyable as it is for Ivy to dig holes in the sand.

Likewise, I spent the time writing out my business ideas. (While drinking a cold beer, it was paradise.)

My friends, colleagues, and especially my wife, all know that I’m an idea guy. I love entrepreneurship, and my mind is always working through new ideas and business ventures. I can’t really turn off that part of my brain.

When I stand in line for a cup of coffee or sit in a waiting room at a doctor’s office, I watch their operations, I listen to the staff’s interactions with customers. I look for ways things could be improved, or if I was the owner what I would want to do differently.

This is why I’m kind of a junkie when it comes to innovating my business. I’m driven by some force that I can’t quite explain. I assume it’s like a marathon runner. They have something that is pushing them to wake up early and run 10+ miles before they go to work. They love the challenge and the way it makes them feel. It’s the same for me, I just put my miles on my laptop.

However, for every business idea I have to innovate or improve the customer experience outcome, only a small few get the greenlight. Which means hundreds get discarded because they don’t make the final cut.

To figure out which ideas will make the final I cut, I’ll spend countless hours on research, planning, and designing. This helps me flush out the A-level ideas from the, B- and C-level ideas.

THE GREENLIGHT

Six months ago, my colleagues and I made the decision to greenlight one of these A-level ideas because we determined it would have the most significant impact on our customers.

Today, I’m super excited to announce that we’ve added a new mortgage company to complement our real estate services.

Yes, you read that correctly, we now do mortgages, too. When I say we, I don’t mean I’ll be doing the loans. Rather, we’ve partnered with a national mortgage company called AFN (American Financial Network) who is in 48 states.

WHY WE DID IT

I already work with a lot of great lenders, but one of main reasons we made this new leap into mortgages is to be able to further protect our clients. Let me explain.

Before now, we were at the mercy of lenders, with little we could do if a problem arose. Now, we are in the driver’s seat, which means we are in a position to put out fires if they arise and solve problems which in the past, we weren’t able to solve.

Just last month we had clients Andy and Sherie. Two weeks after they went pending on a home in Boise, their lender notified them that their interest rate was a whole 1% higher than they initially said it would be. YIKES!

This came after the home inspections and the appraisal. Andy and Sherie decided to turn to their bank, because the bank promised them a better rate and told them they could do the loan and make special arrangements so it could close quickly. It looked like the crisis was averted, but… no such luck.

The close date came and the bank said they weren’t quite ready but just needed 3-5 days to finish. So we negotiated with the seller to extend closing by one week. However, at the end of that week, the bank informed us they still were not ready close, and much worse, couldn’t give us a clear estimate of how long it would take for them to finish the loan. (Just writing this makes me upset all over again).

This put Andy and Sherie at great risk of losing a great home and their large deposit, as the seller threatened to cancel the deal and sell the home to another buyer. There was little we could do, as we were at the mercy of the lender.

This kind of drama happens all too often with lenders, and I’m sick of having our hands tied and not being able to do more to protect our clients. Hence, our new mortgage company.

Had they gone through our lending branch, we could have resolved those issues before they even arose. As it was, we fought and negotiated more time from the seller, and Andy and Sherie closed on the home. YEAH! But, I think we ended up with a few more gray hairs. And that’s my point.

All that stress and craziness could have been avoided had we been in the driver’s seat of their mortgage. So, now we can give our clients that option, allowing us the ability to put out fires on a whole new level.

We researched really hard to find the right lending company, one that would allow us to offer loans that most lenders don’t want to or can’t do.

For instance, one of the products we’re specializing in is rehab (remodel) loans. With these loans, it’s easy to trick out your home HGTV style. You can do them on your current home or at the time of your next purchase, adding a significant boost in equity before you move in. BOOM!

Imagine finding that home in the perfect neighborhood, but you hate the outdated kitchen and the 90s style bathrooms. The home’s lack of updating leads to getting a great price on the home, and with our Rehab Purchase Loan, you can have it remodeled with no extra cash out of your pocket before you move in – the remodel costs are built into the mortgage. The improvements instantly bump up the resale value of your home so you have built in equity if you ever need to sell, plus you get the kitchen you always wanted.

I’m so geeked out to be able to offer this to clients. You don’t even have to sell your current home, you can remodel it through this loan, and if you ever decide to sell in the future, you’ll be in great shape to maximize the selling price.

This is just one of a handful of niche loan products we now have on our tool belt. I’ve been wanting to announce this for months, which is why I’m so excited that it’s FINALLY a reality.

I’ll share more details in the coming weeks, but in the meantime, feel free to reach out with any questions.

P.S. I recently interviewed Kelly McMurry (Founder of The Closet and one of first speakers at Impact Club Boise) on my radio show and it’s one you don’t want to miss. Kelly is amazing, she has helped over 3,500 teens in our community as a volunteer (her charitable organization is not yet at a point where she can take a small salary). We are so lucky to have such an amazing person in our community. So I wanted to give her an extra shout out. Kelly, you rock!

P.S.S. Did you ever see the Ch. 7 news story they did on IMPACT CLUB® BOISE? It was awesome!! [3 min video]

Cheers,

Mike Turner
Host:  Idaho Speakeasy
Collaborator: Value Drive Approach
Founder: Front Street Brokers
Co-Founder: Impact Club Boise
Author: Agent Entrepreneurs
Voice: 208-340-8399