Computer space and successful careers share a peculiar similarity. Whether clearing a path to a new career or even creating a new commodity on your own, a lot of luggage must be shed—thrown out the window. You need to carve out a space in your life and mind for creativity, just as your computer needs to be cleaned of old, moot data, apps, and files in order for its memory to process current and relevant data.
Along his many pivots in the financing and real estate trade, Todd Lubar knows the value in clearing off the old desk in order to create a new working space for a new turn in career events. It is one of his many tenets to finding success, whether it be in the real estate financing sector or elsewhere.
Lubar’s gravitation to real estate began in the mid-1990s as a mortgage and loan originator. However, a more powerful gravity or desire drove him to new career routes toward fulfilling his ultimate career, if not life desire: To help others, especially the underserved clients in real estate, achieve their dreams through accessible, workable financing.
His career pivots included stepping into an equity position with Legacy Financial Group in 1999. This capacitated his ability to expand lending to outside investors and essentially become a direct mortgage bank. The latter paved his way to achieve one of his dreams on the way to his ultimate dream—forming his own residential development company: Legendary Properties, LLC. In his new enterprise, he thrived because of his former surroundings with similarly driven people in the real estate and lending communities.
His career networks proved impeccable in facilitating his own turns and new directions within the real estate world. His network only grew once he jumped into Legendary Properties, which involved rehabilitating, selling, and reinvesting in properties ranging from single family dwellings to multiple-unit, multiple-family dwellings. By the nature of these new involvements, he necessarily developed relationships with people in every corner of the building trade. Combined with his connection to former associates and leaders in banking and mortgage institutions, he empowered his new venture with the ability of establishing lines of credit for clients in the range of $20 million.
Lubar essentially became a real estate financing juggernaut who could now use one dream—his own enterprise—to step up to his ultimate endeavor, Charter Funding, a subsidiary of First Magnus Financial Corporation, one of the largest privately held mortgage companies in the U.S.
In essence, the liquidity of Legendary Properties and some of his other investments leveraged his ability to aid a sector of borrowers who otherwise encountered turned heads from traditional lending sources. “I was finally helping others who needed help and another route to reach their investment dreams,” says Lubar. He is now living his dream.
As hinted in his own career path, Todd Lubar learned several other tenets—outside of just clearing off one’s desk to create more storage space—in order to forge the trail to professional success in any industry.
1) Surround Yourself with the Right People
“The people you surround yourself with is so important,” says Lumbar. “If I were to start again, I would be more cautious with who I bring into my sphere of influence and how I promote a culture of trust in my business.” He says people who challenge you and promote growth through their own leadership are the most valuable associates one can cultivate.
2) Don’t Undervalue Repetition and Small Conquests
“Get up and work till you can’t (work) anymore, then work some more,” says Lumbar. “Building a successful business is hard work and takes everything you’ve got.” He insists that even though the work one does may feel repetitive and mundane over time, “it is important to constantly remember your goals and the bigger picture.” In line with the tenets of other successful business leaders, Lumbar believes that a lot of “small moments” during one’s hard work lead to their arrival to much bigger places.
3) See Failure Only as Another Step to Success
“I had a business deal that went sour and set me back to square one. So, I woke up the next day, put my pants on, and started playing the game again. I just had to use different game pieces, different doors, and more umph.” In a way, he says, the failure and the new pieces required to get back into the game represent an involuntary incentive for clearing your desk or computer to make room for new data and ideas.
4) Foster a Culture of Trust and Open Communication
“It is so important to foster a culture of trust and honest communication in your business” Lubar says. “Despite setbacks, we have been able to grow and move forward because those involved in my business trust each other and feel comfortable voicing their thoughts and concerns with me—and vice versa.”
5) Read and Listen to What’s Out There in Your Industry
Lubar says one of the most instrumental resources to his philosophy and success in business can be traced to one resource, a book entitled, “The Magic of Thinking Big,” by David J. Schwartz. He says it taught him to learn about maximizing his time professionally and personally. “Set higher expectations for yourself and think and behave in a way that will accomplish your goals,” Lumbar advises.
A Final Note on Careers in Housing
When it comes to housing, says Lumbar, so many house-finder sites flood the market that people feel overwhelmed and confused about who to trust with their information.
“Just as Google as dominated the search engine space, there is still space for someone to dominate the house-finding space,” Lumbar maintains. He recognizes a couple top contenders, “but they are not always up to date with housing information.”
He adds, “I think there is still space for a business to rise above and become the Google of house-finding.” For budding entrepreneurs reading this article, perhaps such an accomplishment could be your dream.
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