My career has been exciting and challenging at least.
I went to San Jose State University and got a degree in Business Marketing and Nutrition. During my college years I worked at a car dealership as a mechanic. I have always been mechanically minded and it was great way to put me through college. I have always had a high level of drive, work ethic and discipline. After college I worked for Gold’s gym and started buying and selling real estate (yes it all started in 1988), I remember his my house was 35k so I took a cash advance of a credit card for 3,500 for the down payment. I quickly flipped 3 property’s for a profit then bought a 300k lot in the hills of Fremont and built my first “spec” house. It was 4k sf and we sold it for 900k, which was so much back in those days. While I worked at the Gold’s gym I inquired about a franchise with Gold’s, and the owner of this particular gym found out and fired me. Guess it was ok with work with him yet not dream.
In an effort to find myself, I worked at a car lot for ½ a day. I looked the ad’s in the newspaper and one finally caught his eye. It was “Loan Officer” I went on an interview with a small broker and was hired on the spot. I worked there for one month and was recruited by a small bank by the name of Financial Center Mortgage ran by the Baldwin family. Our cheapest rate was a 9.95% adjustable that would cap at 16%. This taught me so much about the business yet the writing was on the wall as this company was very top heavy.
I obtained my brokers license in 1991, and started Olympia Funding (after bodybuilding). William Hogarty had no money, yet secured a 1k sf sublease (with three desks, a copy machine and a fax machine) and closed two loans his first month. A very good friend of mine by name of Vince Rauba developed a telemarketing crew (this is when tele-marking was effective) and we developed leads to hand out to loan officers. He who had the most leads won the race. We continued to grow exponentially, and in fact 1993 I was blessed with huge success literally making my first million in a year, at 29 years old. This kind of rapid success does not come with a training manual and actually many challenges like what to spend the money on, taxes choices that people who don’t have money don’t have to worry about. Tremendous responsibility!
Yet in 1994, we experienced our first major correction and March 1994 we went from 700k a month in revenue down to 200k WOW this hurt and many said I would go out of business. Yet we worked hard at what was left of the purchase market as the refinance boom was over, many loan officers left saying “the grass is greener”. They would say, don’t take it personal. Which I found odd, because if your spouse left you and said “don’t take it personal;” would it make it hurt any less. I cared so much and it hurt to see my “friends” go. 1994 to 1996 was tough yet we survived and started a concept called net branching. I had had a bad experience of building branch on my dime as loan officers would not treat my money the same as their own money. So we started building branches at a 90% split yet the owner of the branch paid all their own expenses, making them accountable to the over head. This worked very well as the branch owner got the piggy on our marketing systems, lender approvals and licensing.
Pretty much in 1998 to 2004 the company tripled in size every year, ending up being the #2 largest mortgage company in all the US. This was incredible though a bit intimidating We grew so fast I often didn’t know all the employee’s. They were great years, filled with amazing people, great company trips and a great team. I did his best at always being grounded and returning every call like it was my last. We built a “By Referral Only” company and my secret was mailing out to severe of influence for the loan officers every month. It amazed me that most self employed people (realtors, loan officers ect) don’t put a dime into marketing and wonder way the phone doesn’t ring. We mailed 33k mailers every month like clock work and it created amazing results. We were #2 and our volume was ½ the #1 company yet they had 10 times as many people. In 2004 I was courted by a company by the name of First Metropolitan Mortgage.
In 2005 we sold to then on a “earn out” which is basically 20% up front and 80% later. This is where I learned my first big pain full costly lesson in business. To bank on someone else running you company and basing that success or failure on financial gain was suicide especially when I was hands on and they were very corporate. Meaning I would help every one, return everyone called ect. The company that bought us was very top heavy and my loan officers ended up quitting as the relationship and well being of each person was gone. The challenge was, I was making no money and I had a 3 year non-compete clause so I couldn’t go back and do what he knew best.
So I started Mortgage banking and started a retail bank by the name of Tri Valley Bank. The mortgage bank was a place that we could fund brokered loan and sell them in the secondary market. TriValleybank was a typical bank, yet the board was awesome yet no very innovative and made some crazy loan decisions. I felt the board was more worried about long term than immediate responsibility of the stock holders. I was always the one who raised the tough questions rather than rubber stamp everything.
I recently launched Proof Smart Food Inc,
600,000 people die in US monthly from Sugar related disease. 75% of Us adults are overweight/obese, sadly 35% of our children are overweight. For the first time in history we will out live our kids due to sugar related disease. We will change that! That is great news as we have HUGE interest from large retailers and we will be in final production within 45 days (meaning final packaging) for our amazing cookies. This is a dream come true for us. We also in final stages of our Protein Calzone, (32 grams protein, 8 net carbs ultimate convenience food) fine tuning the wrapper so it is microwave friendly with crust.
By William Hogarty
In the mean time please support us :
BEST COOKIES EVER!
1/2 the price of the competition.
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Tastes better than any cookie good or not.
PS: If you know any food banks, schools, police and fire departments are may be looking for donated food, please contact Christy, firstname.lastname@example.org