Future Of Lending Business Post Covid-19 With Aaron Chapman
“And that's my goal with the quit jerking off initiative is what I call it is telling people to quit wasting time on things of zero value quit jerking off, focus your energy on what's going to be a value to you and those around you, and go get it and when you stumble when you get hurt Get your ass back up and keep moving because when the rest of the world is laying there licking their wounds you can keep moving them past them opportunity lays there like crazy do that because the majority of people will not get back up.” Aaron Chapman is a veteran in the finance industry beginning 1997. Since entering the finance industry his clientele has ranged from those purchasing their first home, building their dream home or investing in multiple properties for long term cash flow. His expertise is in the complicated. Presently ranked #14 in an industry of over 300,000 licensed loan originators for transactions closed annually (723 closed units for real estate investors in 2019, 707 in 2018 and 676 in 2017); Aaron is that battle-worn partner every real estate entrepreneur needs to walk thru the tough parts of building a real estate business. In addition to a career in real estate finance Aaron is a Published Author with 4 books released and dozens of magazine articles.
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Future of lending business post covid-19 with Aaron Chapman
Brett:
I'm your host, Brett Swarts. In each episode, I am joined by some of the best commercial real estate brokers, lenders, agents, luxury realtors, and passive income Wealth Advisors in the world where they share their ideas, deal stories, and inspiration. So together we can make complex brokerage strategies simple and passive income plans achievable. I'm excited about our next guest, he is an absolute heavy-hitter, Rockstar, top top, top 1% nationally ranked among the top 20 and in 2017 2018 in the lending business, and this is by Scotsman's guide. And this is based upon units closed. And so the real estate finance industry is highly skilled and financing for real estate investors aiding in the analysis and structure of multiple financing properties. What I like best about our guests is he actually owns real estate, and then he has a heart for serving consulting beyond just providing his service which is lending. So please welcome the show with me, Aaron Chapman. Hey Aaron, how you doing?
Aaron:
Not bad Brett, how you doing brother.
Brett:
Hey, better than I deserve. Glad to have you here. So give us, give our listeners a little bit about your background and your current focus. And then we'll dive into today's topic, which is, you know, what's happening with the changing of the environment in the industry. And what you see changing in the next couple of years.
Aaron:
The background is pretty extensive can it can take a little while to give that background but if a person wants to really just give that the 30,000-foot flyover it was cattle ranching to run working for a welding company and gas plants in the oil fields of Wyoming then from there to heavy equipment, truck driving mining, and then I forced got my way into this. So there's a whole story as to how it happened. But it was one of those things that beat you down to the concrete to the point of picking up pennies in a parking lot just to get enough fuel to get home, to stumbling into this to fighting to make this thing work. And because of what you have to learn about yourself. And that type of environment is where you learn to do what it takes the grit and the desire to never give up to reach the extent that you're talking about right now being ranked in the top 20. In my industry, I mean 300,000 people in the industry, and I'm ranked in the top 20 at least just for transactions closed. And it's not an easy feat to do. And it's even harder now. You know, you're talking about the evolution of business and where things are heading. You know, I love to focus on the turnkey, turnkey real estate investor or the real estate investor buying the one to four units, the residential property financing with your conventional lending, that's where I focus my energy because I have found that the lending industry as a whole the banking industry on the conventional side, it's kind of ignored that side of the internet that that that you want to call consumer, but it's not a consumer, it's a business owner, ignore that segment of the market out of fear because they saw what caused the crash of 2008. And it's really the greed of many it's not the greed of just the loan originators, not the greed of the banks. It's not the greed of Wall Street's not the greed of the consumer. It's the greed of everybody that created that right? Well, because of that they had to try and figure out where our big miss a lot of the big Miss was allowing people to buy multiple properties with hardly any money out of their pocket and no verification of their ability to service that expense. And then what you have, you have a big explosion. But when you properly structure, you now have what I believe to be one of the more secure types of loans available to the banking industry, which is the real estate investor. And that's where I focus my time. My energy is helping people mentally structure it and focus on like you said, you have to have a plan. But you also have to be able to adapt that plan. Because if you live by the plan and the plan only you could take another header into the concrete that you may not get back up from.
Brett:
Yeah, very well said, Aaron, thanks for sharing that. And by the way, Aaron's also been on the capital gains tax solutions podcast, and an amazing interview, they will be going into even more detail on his story. So you can go check that out lookup capital gains tax solutions in Aaron Aaron Chapman as the guest. So Aaron, let's dive right into some of the changes you're seeing right now. Right. And maybe we can do a little bit of let's say pre-COVID, you know, a brief overview during kind of this change, and we're recording this almost December 1 of just before Thanksgiving, actually November 24. So we've been through some changes, so give us kind of like, but what's your snapshot of 2020? What happened? Where's the industry going? And then what do you, what are you seeing in 2021 for the lending industry?
Aaron:
Well, 2020 was a surprise to all of us, right? When you come into it. You didn't realize what was going to come in you guys This virus that comes in then, of course, the impact on the markets almost overnight felt you didn't, you didn't realize it until it attacked you. And then when they attacked us, it was pretty, pretty rough. To the extent that all sudden interest rates just started going up, I don't understand why there's no data to explain to me, what's driving the rates up. Why are the mortgage-backed securities, having all this massive sell-off, there's nothing that we could see, you know, and when you start looking back on the mortgage-backed securities, you start seeing that that big sell-off that big drop, and then the news started to slowly come out, I was contacting my head of secondary marketing, which is, the guys who do all the trading of the mortgage-backed securities instruments within the company determine, you know, what we have for interest rates to help us publish the rates, and that's the rates we sell? So I said, I was able to dye it to understand that through the information they were providing me to see that it's not a matter of the market, really pushing rates up, it wasn't a matter of lack of capital when it got down to was, when you look back in early March when the stock market took that massive header into the concrete there, you started to see that the banks that we're investing into those markets, you know, you have you know, people who deposit their money into checking savings account just doesn't go into a vault and grow out of thin air, right? The bank itself has to take that money, put it to work, invest in it used to invest in the community. Now, if they're trying to invest globally, when they're investing that money globally, in the markets that took that major shift, you have margin calls, right? Because most of them are leveraging that capital on margin out in the equity markets. With those margins, calls came those margin calls. They don't, that's not one of those situations where, where it's like, hey, pants, when you get it get some times like you owe this now. Right? This is a DEFCON two situation, you pay us immediately. Well, when you're in that scenario, they had to sell assets, where are those assets, if they don't have hard assets in the form of, you know, real estate or something like that they have mortgage-backed securities, they have bonds, they have treasuries they have other things that are set value. So they started selling those assets, and then selling those assets to mortgage-backed securities started to drop interest rates rose quickly, very quickly. So what started with that was one complete, I almost just shut down the industry itself, just nothing was moving. And people were not locking, what I started finding is there'd be little windows where you could lock so I would spend my day just refreshing, refreshing, refreshing. And I'd find these little windows where I could sit down and lock like 30 40 loans, and then the window would close. And then my team would keep progressing. So I found ways to navigate through that mess. Who came as a result was at the end of 2000, I believe it was the end of March, I believe is March 20. That's when the Federal Reserve started dumping capital into the mortgage-backed securities between March 20. And March 30, is well over a trillion dollars. Now to illustrate how big that is, go way back to the crash of 2008. You had 2009 when they started quantitative easing, right? So from 2009 to 2010. You know, they started January one 2009, to quantitative easing, where the Federal Reserve started dumping money into them into mortgage-backed securities. And to try and write the ship when it comes to what was going on with it with the economy at that point. As far as mortgages. At that point, we're at a complete standstill. So they're trying to add capital for people to borrow the banks to lend out so that we get the economy stimulated again. Well, between January one 2009, the end of March 2010. Right, that's 15 months, they had injected $1.25 trillion into that, then they maintained quantitative easing anywhere from 20 to $40 billion a month swinging around in there till the end of 2017. And then you saw what happened in 2018. Now you get forward into where we are with COVID. They dumped as much in one in 10 days as what they did in a year and three months back in 2008, or 2009.
- Aaron Chapman
Brett:
That's pretty unbelievable, just so make sure to just capture that again, what you just said so between 10 days, March 20, to about March 30 over a trillion dollars in 10 days versus the old 2008 market, let's just say oh nine, and in 15 months, they did 1.2 5 trillion. So it's essentially about the same but doing 10 days, a fair summary here?
Aaron:
Yeah, completely compressed, right? they dumped all this capital and just to get back to work, and just produce on the trajectory we were already on. So if you look at the markets, I don't even know if I can do a share screen here, not that we don't have that capability. If you have the capability to make me co host I can do a share screen to show you the charts of where they did all this. You know and so then what it is kind of it got us kind of back in the trajectory we're heading but at a little bit of a more of a rapid pace because the market was not doing that kind of thing at the time. So once they got it then it leveled it out. So what you had is john, I think john Malden A few other people that are very deep into the economics, all of these things, Barry Habib, others that understand mortgage-backed securities, these guys had been shot information off to the Fed, they got a hold of the chairman, the Fed saying this, you don't want to keep doing this, you keep dumping that kind of capital in, you're going to drive the interest rates. So, so far so fast, that the servicing side of the interest industry is going to lose so much money, that they're not going to be able to continue, we're gonna have an even bigger problem on our hands. And so what that means is, you know, when people buy it, when you have a mortgage, right, and you close on it in about 30 days later, you're going to get a letter saying that you from a different lender saying, we now own it, right, you're gonna pay us we don't own the loan, the loan is already owned by whoever put their money into the pool on Wall Street, it's already owned by somebody else. That's the servicing rights. So the servicing rights were purchased by somebody, usually 1% of the loan amount. So if it was a $100,000 loan, they would have paid $1,000, to get the rights to service that loan. And as you're making payments, they get to keep, say, 30 basis points. So over a 30, over one year, they paid 1000 to get your loan, but they're going to make 300 bucks a year on that, if you're religious with your payments, well, it's gonna take at least four years to break even right, just simple math shows that if people are refinancing before that four year period, they're losing significant amounts of money. So what was happening here is the Fed was stimulating this refi. So fast, that it that the servicing side of the interstate said whoa, we're no longer going to pay for your mortgages, we're not going to buy the servicing rights, in fact, you're going to pay us and because of that rate spike significantly, even though the Federal Reserve but with enough capital in there to abroad rates even lower than where they were at that time, but they had to pay that increase it to pay the service or just to take the loan because Wall Street can service it, they don't have the capability of service alone. So they had to incentivize these large companies that do that for their business, to take that on and take those payments and start and they're gonna make money on top of the money they were making. So you had that as a transition in our industry, it went from something people would stand in line to buy to Now none of us want it, you better pay us to take it. And now instead of a bid, ask a tight deal with a bid on it, and they negotiate to pay for it. Now, it's like whoever is going to get it for the least amount of upfront capital to buy to get to take that loan, or that group of loans or 10s of billions of dollars in loans. Right.
Brett:
So here's the question I have given that that's amazing. Thank you for seeing that detail. So how does that affect the lender today? So someone who's in the industry, who's servicing, you know, residential, realtors, or maybe even commercial brokers? Right? Who, who's in the lending business? How is that gonna affect what they need to do today to adapt for the future? Or maybe it just keeps doing what they're doing.
Aaron:
So ultimately, where I think this is what it is, this is going to be pure speculation on what's going to happen for us is going to one thing that I was leading into is that the Federal Reserve has continued to inject as much as $4 billion a day into the mortgage-backed securities pool. So it didn't just stop at the one point, whatever trillion, it's continued $10 billion a day, $8 billion, today 6 billion tapered down to about $4 billion a day to maintain the market where it is. So what that means for us is the largest holder of mortgage-backed securities right now is the Federal Reserve. So that I don't know exactly what we're gonna have to adapt to. Right now we're adapting to a little bit more enhancement to our guidelines, I deal with a lot of self-employed buyers. And with those self-employed buyers, we use just to be able to say, hey, you're self-employed you here's your tax returns for the last two years, here's an estimated p&l, let's just go ahead and move forward and close your loan, there was no real verification of employment. Now, because people's potential businesses can suffer quickly, due to COVID. It can change on a dime. So rapidly, we have to get up-to-date data on what revenue is coming through their business, right? So you get up to date, p&l, your day p&l, they've scratched out, and then you have to look at their business. Bank is still working, it has to be evaluated and make sure it looks like it's trending in the same direction it should go. There's some enhancements that we're experiencing, we have to be a little bit more cognizant of the ins and outs of a person and their business and their income and all these things. Not only that is there's going to be continued changes in how we do things. And I don't know what those changes are going to be because we look at it from the fact that now the Federal Reserve owns a majority of the mortgage-backed securities that have been distributed in this year. That would mean all these people that have refinanced millions upon millions of people refinancing now have a loan that's owned by the Federal Reserve. Well, what's going to happen there, you know, when you have the Federal Reserve has the majority of the interest in these real estate across the country. Where's the money coming from? It's coming from the US Treasury. It's not coming from the Federal Reserve, the Federal Reserve is a private bank, we all know that. If you don't, then you're probably not looking at some of the right areas, they get access to the Treasury, which the Treasury creates the money, and the money is created out of thin air, and then it's lent out to us. It's our money that's being lent to us. But somebody else gets to No wonder they don't care what the interest rate is, No wonder it doesn't matter. The rates are so dang low. What's also very interesting is when you start looking at the mortgage-backed securities pools, they have different coupons. Different coupons mean different places where somebody's going to invest into that pool for a base rate, then you can add a margin to it to create your regular rate. Well, another thing that's new to the industry, I've never seen a 1.5 coupon ever published, we're now publishing a 1.5 coupon, meaning that's the base rate, whoever invests into that pool is going to get a one and a half percent return on their money. But then you have to have margins into it to be able to get the actual rate to be able to pay all the people in the middle to get the loan done. And then service the loan because member servicing guys are not paying for right now they're getting paid. In many instances, you have to add more margin. Now you're talking about interest rates in the low twos potentially, just because it's just being published doesn't mean it's being released yet. But that's been published. So now we get these extremely low-interest rates probably going to drive more refinancing. And I'm not trying to get a conspiracy theory going on here. But what the hell is the end game when the Federal Reserve is the one who's going to have all these the notes on these properties, all these deeds of trust don't float around out there, you have all the money coming to the Treasury, that's being created as thin air, which is usually public capital for the American citizen, but yet you're the one paying it back at an extremely discounted rate in a high inflation environment. The other thing we're looking at inflation is going to be in my opinion raging with all this monetary creation, the creation of money over monetization of our economy, when you start looking at the money supply is through the roof. It's never spiked that high. I always tell people to go to John Williams, Shadow stats, Shadow stats, calm, look at the charts on the money supply. You've never seen that happen to spike in, in money supply the spike in, in, in corporate bonds in mortgage-backed securities and treasuries that the Federal Reserve owns is completely off the chart never seen before.
Brett:
Yeah, so much there. And not enough time to unpack it all but really, it's kind of unforeseen, kind of unforeseen times and a lot of ways, right, so many moving parts. So much pressure on the Federal Reserve. Yeah, that I just, it's hard to even wrap your mind around it, I think part of part of the American public, we get a little bit immune to it because we've been hearing about this debt crisis that we've had for so long. And it's like, it's just what At what point are we really going to hurt us as Americans as citizens, as you know, for global financial markets. In the meantime, people are refinancing to get lower interest rates. Right. And then I guess, hoping and praying that this thing all, you know, the House of Cards if you will, stays all together.
Aaron Chapman
Aaron:
But now it's still just working, right? No business is going on, life is going on. I got Look, my expenses are dropping, all that kind of stuff. I'm gonna go buy more stuff. Black Friday's coming.
That's where I don't know, like you said that we were becoming so used to it that note that the alarms are not going off for me, they're freaking out. I mean, I, I look at this, I'm scratching my head, I have no idea what to expect. I remember back in the day, you know what people were ducking covered days at least. I don't remember it personally, because I didn't have to. But I remember seeing all the videos and stuff in elementary school that this was a thing in life. And you can go back and look at it online. It's like, worry. That's where we're at right now. But it's been very docile, people aren't realizing exactly what's happened. All I can do is point out the observations, what I'm seeing what this means for us, our industry. I don't know. The one thing I tell everybody is like, given the fact of where it is, we'll ever try to leverage long pay off slowly. If you're going to get long, long term rates this low, and you can get an asset that continues to pay you over that period of time and somebody else is going to pay off the debt for you, then there's no reason not to continue as status quo, which is purchasing property levering, yet long term continues to get cash flow. That's the best play I can see at the moment because I can't see beyond what we're looking at right now.
Brett:
Yeah, thank you. And I appreciate you sharing that. Early interesting, you know, really interesting, we're also exploring and looking at the brokerage model too, which is, which is kind of shifting and changing at a rapid pace given COVID-19. In fact, recently made the move to XP commercial, which is a cloud-based model. And it's to hedge against and take against a lot of the excesses bense in use as a way to fund and build equity share and stock share and revenue share inside a big company. And so it's really interesting to see I'm curious if and when maybe already I don't know about the lending business or how these different teams or different models, you know, are changed? You know, any thoughts on that? Have you seen that already happening?
Aaron:
So there's definitely models that are adapting to what's going on to be able to say what to analyze exactly what they're doing is kind of hard to do. Because I'm so buried on my own, you know, the situation we have an avalanche is piled on top of my team, we're trying to dig ourselves back out of it. And it's we're getting there slowly, right. If I had to add more people, I've had people that are out with COVID, I've had people actually quit and check themselves in a mental hospital because of the strain. I'm not kidding, that's not a joke. I've had things like that occur in the last couple of months. And yes, there's going to be a lot of adaptation, there's a lot of things that people are going to have to do, to team up, strategize, expand. I'm working on multiple different things myself, to continue to brand separately. But also this is going to be my continued focus as the real estate investment, finance. But I honestly have not been able to look around and see what people are doing and what they're having to do to continue to maintain their business just because I'm so head down looking at my own.
Brett:
Yeah, no, I hear you. Can I fell in 2022. We've grown rapidly like doubled our employees and businesses boomed. You know, it's and we're looking at how we create systems? And how do we align strategically, with business partners, different people in the industry, to keep as keep the wheels going, right, it'd be able to keep it smooth and a process because it's one thing to have a bunch of business I can I think I think of it like, like the servicing companies, right? I mean, it's one thing to have a bunch of money to be able to win. But if you can't service those things, nothing's gonna happen, right. So the key is to have both the opportunity and the team behind it to execute the deals that need to be done, right.
Aaron:
So nobody was built to handle what came. That's, that's a key point with what you're just talking about there. Everybody wants more business we're all talking about I want to grow my business by x, right? We're constantly looking at it from that direction, nobody is ready to scale as fast as we need to scale. Now, we went from an industry that was staffed and set up in a way to be able to process $2.5 trillion in transactions per year. That's a lot of transactions. But the current demand right now, this quarter is over 4 trillion. So for 2.5 years, we have a current demand of over four, that's seven times the annual amount that we've ever been staffed for. So yeah, I wanted to grow my business. And consequently, business, I've been working on growth forever. And strategically putting people in certain places to do certain things. I had a coworker come into COVID, I think it was a staff of 20 or 21. I've got 30 right now. And that's even after losing a few of them or replacing them. And now we're having dude, we're hiring more, you know, I have 32 by the end of the year, you know, and trying to train those people to fit him into the system, get a system that adapts to that. What got me to the product, the ability to produce, we're close to about 1300 transactions this year, the ability to close 1300 transactions. Right now we have built a system, I'll do that. But the demand is over 3000 transactions a year is what my demand is right now. What got me to 1300 is not going to get me a 3000. I have to retool after re-equip after re personnel to do that. And it's happening so quickly that the big stress is am I going to adapt to it and I'm going to tool it and it isn't going to change and shut off on me. What are you going to do to prepare yourself to continue to fuel your business at the pace that needs to be fueled based upon your tooling and based upon your personnel when things drop off? And that's the big question. We all have to be fighting.
Brett:
And I think this is part of the answer, right learning to work harder on ourselves than we do on our jobs. And it's the same by Jim Rohn. For Carter jobs will make a living, we are harder on ourselves, you'll make a fortune and the idea is to become more as leaders, right? And the ceiling of any company is the leader. Right? So until the leader gets better, nothing gets better. But as the leader gets better, everyone is better. And then everyone is owning that and growing and that of course systems and of course working hard and of course, doing these things. But we got to become more right in order for the company to grow. Any thoughts on that Aaron?
Aaron:
Oh, and I 100% agree my growth happened. You know in this when I started working on-air and I started getting up at 430 in the morning, I started reading every day feeding my head with the right things and then started, started developing myself properly and then allowing that to bleed off to my team I was doing now 18 20 transactions a month in a player in the industry to 1300 a year. That's a big jump in less than five years, you know, that happened that I had to make that decision when the decision actually came around, I really prayerfully started working on me in November of 2015. And I still remember all that the feeling and the change, and how it all shifted. And it all started with the book, the goal, but you like Goldratt, I was not a reader, I hated reading constand I think I didn't see the point. I didn't write down things, I wrote down things before that. And they started to come true, they started to come true. When I started working on me, you can't just write stuff down and put up a vision board and bullshit like that. And it just appears, you have to work on the tool that's going to accomplish that, which is you. And I didn't do that until I picked up that book at the recommendation of a friend, Mike. I've tried everything else. I'll try this. I did it. And I started letting my mind wander on how I can create from there. And then the next book appeared to me, then the next and I found another one, then I wrote some, you know, so now it's evolved to this thing from what do I do to I know damn well, what I got to do, and that's where I'm going. And I know I'll never get there. Because I've set the goal so high, it's unachievable for myself, me as an individual, I'll be working on it till my death. And that's not, I'm not kidding. When I go to the grave, I'm coming in hot, I will never stop, I'll never retire, I'll never lay down. And when a person gets to that point, yep. And in being willing to take the beatings that come with that, you have absolutely no choice but to succeed. And Jim was 100%, right? work on you first, everything else will just lay down in front of you. And it's not going to be easy. It's going to hurt, every bit will hurt. But it's worth every bit of it. Because then you have meaning you have a reason to get up in the morning.
Brett:
Absolutely. So amazing. So well said and, and by the way, for those who are listening and looking at the XP model, what I love about what the XP has done, they just bought, and they doubled down on, on, on leadership, personal development. And they bought a 123-year-old company, and it's known as a success brand or Success Magazine. And they brought it to their leadership team and they acquired it for $37 billion. And they're pouring into their leadership and to their brokers and to their agents. And so everybody, because the way they see the vision that I love about it is they say hey, we're actually a leadership personal development company, who happens to sell real estate, right? And so they thought for Aaron, or the challenge of yours, Aaron, how do you guys become a leadership and personal development company? Who happens to do finance in loans? Right? It's kind of a mindset shift, right? And like he said, sometimes we get caught in this avalanche. And it's just so much. And we're like, oh, we just got to dig, we got to dig out of this. But, it's going to take a shift, right, and we can lose our focus. I think part of 2020 the biggest challenge for me was not losing focus, right. And I had to literally just turn off the news, I had to turn off, you know, a lot of the noise, a lot of just everything else, it just dialed down and focused on how are you going to serve our clients? How are we going to grow our business, how we're going to grow ourselves? And it's tempting, right, because we're in what's called the attention age. It's not the information age. It's everything that's drawing for our attention and losing our focus. So any thoughts on that?
Aaron:
Oh, yeah. Huge thoughts on that? Because that's what I had to do myself, figure out how do you continue to be viable, right, you have to be able to draw people's attention. So that was when this all started to happen. The coton COVID started to take over the world, and it started to impact our markets. It's hard to have the conversation one person at a time and get the word out. So that's why I decided to start doing the videos twice a week, Tuesdays and Fridays, explaining what's going on in the market. What I understood was happening and what I want my clients to understand about the market so that way they can make decisions about their business. And so that was going out to my database twice a week for them to take a look at and see and be able to make decisions about their business going forward. On top of that, I went ahead and started up a YouTube channel to do what you just said. How do you provide content and also that enhances your business?
Brett:
So did you plug that video? What's the YouTube channel Aaron? Plug it.
Aaron:
youtube.com/quitjerkinoffI hope and there's no G in jerkin. So it's just you know, you got to go full redneck with it. So youtube.com slash quit jerking off there is there's I think 60 or 70 videos up and one of the coolest ones that's up there was last month, I had the opportunity to sit in a hunting blind with Adam finitary and interview him about his life and what he experienced, you know, and what was basically the toughest thing you ever went through that made him what he is, right? Because we all have the head and the, what I call us the best worst was the best thing that ever happened. You were actually the worst thing that could have happened at the time that actually catapulted you to who you are because we never make it. We don't become who we are, because life is easy. So that's my whole drive behind it is to get the best information from the best people I know. It doesn't have to be moguls, it doesn't have to always be sports stars, I found myself an opportunity to go hunting with the man and I interviewed him and had a camera there. And so we put that out there. And what you get to see repeated over and over and over again that people do not accomplish anything unless they fight through the troubling times. The harder it is, the greater the reward. And right now it's hard. So the reward that's coming if you stay at it, you stay active, you don't give up, you just wipe the blood off, get it out of your eyeballs, and keep moving forward. Huge, huge rewards come from this. I don't know what it is. I can't predict it because this is unprecedented. But I guarantee that in my opinion, this is Aaron Chapman's opinion. The last form of natural selection left is those who get up in those who stay late laying down because we have nullified natural selection with medicine. We have completely legislated away personal responsibility. The last thing that's left is those who take a beating and get back up those who take a beating and stay down. And that's my goal with the quit jerking off initiative is what I call it is telling people to quit wasting time on things of zero value quit jerking off, focus your energy on what's going to be a value to you and those around you, and go get it and when you stumble when you get hurt Get your ass back up and keep moving because when the rest of the world is laying there licking their wounds you can keep moving them past them opportunity lays there like crazy do that because the majority of people will not get back up.
Brett:
Beautiful, beautiful, I think of this quote here considered a privilege, not a sacrifice to pay the price for our dreams right? So what are your dreams? What are your visions, you know, considered a privilege, not a sacrifice to pay the price to accomplish your dreams to accomplish your goals and look at this as an opportunity these challenges this COVID-19 this whatever you're facing in 2020 look at as an opportunity to grow yourself, grow your team, grow your family, you know, grow hopefully grow your business and grow your profits? And with that, Aaron we are out of time. So would you write to our listeners where they can find you? And then I'll have the last word for us.
Aaron:
Go to AaronBChapman.com A A R O N B as in Bravo, C-H-A, P as in Paul, M-A-N dot com, or just Google Aaron Chapman, pop up right there on the front page also go to YouTube channel. Check that out.
Brett:
Beautiful. Well, thank you for being on the show. Thank you for sharing your passion, your inspiration, your insights on what's going on right now. And we're all better for it. And also want to thank our little characters you can keep doing what you're doing right, keep doing it. Don't give up, keep persevering, keep fighting and keep inspiring us to do the same. And we'll also want to thank our listeners for listening to another episode of the expert commercial real estate secrets podcast as always, we believe most commercial real estate brokers, even lenders and luxury realtors struggle with clarifying their passive income options. Not having a clear plan is the enemy and using a proven brokerage strategy such as the XP commercial model and purchasing investment real estate is the best way to grow your wealth. If you want to hear and see how the XP commercial models hands down the best way to grow your real estate business brokerage go to expert care secrets calm that's expert care secrets calm. Please rate review, subscribe. We so appreciate everybody. Thank you.
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