Steven Pollack is a legend in the fix-and-flip industry. He founded his company Anchor Loans back in 1998 providing private capital to fix-and-flip in Southern California and right now he keeps killing it as CEO of his own company. He brings over 30 years of experience and a powerful understanding of the cyclical nature of real estate investing. There are no mistakes when it comes to Steve Pollack’s history: he helps his clients fund projects, by lending them money from private resources, instead of coming from banks like a classic way.
Dr. Pollack went from having nothing back in ’97 to own 170 million USD in 8 years, and the US Government helped him achieve that with a social program. Originally from New York, this guy has a Doctorate in Optometry from the University of California, Berkley and a Bachelor of Science degree in Psychobiology. Although he had his career all figured out (he even ran a successful optometry practice) he always had a passion for real estate, which led him to develop a huge portfolio of properties.
In this episode, Steven Pollack shares how in a blink of an eye he went from being an optometrist with a successful business to a landlord and a professional poker player. Learn Steve’s reasons why real estate is not for people that want to get rich the fast way, but for those that want wealth as a permanent state in their lives. If you think you are failing simply because of the decisions you make, think again and this time, count your strengths and weaknesses. Practice patience to achieve your goals while listening to this Respect the Grind episode.
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 Loan’s 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 be successful.
43:17 – Seriously though, can you make a living out of playing poker?
45:58 – The difference between teachers, coaches, and mentors.
Get Connected with Steve
Man’s Search for Meaning by Viktor Frankl
Rosemary’s Baby by Ira Levin
Think and Grow Rich by Napoleon Hill
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