Ep. 117 Scaling Multiple Businesses In The Real Estate Niche with Masud Sarwary

Please welcome Masud Sarwary from Foundation Escrow to the podcast! Jason and Masud discuss his journey from Afghanistan to the US, as well as his success in the real estate industry. Masud talks about the importance of mentorship, effective communication, and vertical integration in business growth. He also shares his experience during the 2008 mortgage collapse, the value of time, and his focus on family, owning real estate, and passive income opportunities. He plans to continue learning and growing his escrow company (Foundation Escrow), emphasizing the importance of hiring the right people and building a strong company culture.

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TEXT: 619-453-4550

masud@foundationescrow.com

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Video Translation:

"...Yeah. Um, so tell us more about your story. Like, how did you get into real estate? How did you end up starting your own escrow business, your own mortgage company? I mean, you're doing a lot of things. So, you done something, right. So, how did you do it? Yeah, you know what, it's just being around the right people. Um going to UCSD graduating, I didn't really know where I wanted to go, but I wanted to do something with my degree. Ran into like during the career fair about, uh talking about uh a mortgage banking company where you come in as a management trainee and just learn mortgage, uh the mortgage business and learn it from A to Z uh it was called accredited home lender. So I signed up, went through a management training program, became an outside sales rep, wholesale rep for them. And then really saw what mortgage brokers were doing and how they were helping people with getting better wholesale loans and rates. And frankly I saw that it was, they were making a lot more money than uh working in the corporate world. So I did the corporate world for two years. A lot of my family in the Bay area had mortgage companies and mortgage shops. Uh, they wanted me to join. But at the time I didn't want to because I wanted to do something with my degree. I said, yeah, I need to go work corporate. That's what I thought. Uh, but uh after doing that for a couple of years then, uh I joined uh my, with my cousin uh opening up a, a shop here in San Diego uh for a mortgage company and then from there just kind of grew that business. I was in it at the right time. Um 2004 is when I started the mortgage company uh with a partner and we grew it. Um and it grew rapidly, we had um 100 employees or uh loan officers. We had like, I don't know, eight offices uh doing a ton of business. And then from there, um we vertically integrated, bought an escrow company called Foundation Escrow in 2007. Because we were doing so much mortgage loans, we said instead of why don't we control the escrow process too? So we bought foundation escrow at the time, rent got that opportunity and then was sourcing all of our escrow business through uh foundation escrow. And then after a few years, uh actually, I think it was a year or two that realized that hey, this escrow company can run on its own, doesn't just need a service our mortgage loans. So then really rapidly grew foundation escrow..."