Entrepreneurship is alive and well in the industry – and brokers like Reza Ghazi are a prime example. Breaking into mortgages in 2003, Ghazi has experienced the numerous ups and downs that have gone with the territory since then. The lessons he learned led him to form his own company, GreenFlow Financial, in 2013.
I moved out on my own to implement a model that is trying to challenge the status quo,” he says. “There is a gap in the industry where agents do not specialize in certain areas. They want to be everything to everyone. I want to focus specifically on the self-employed and entrepreneurs.”
It’s a target market he believes is being woefully underserved by banks and other mainstream lenders. “I like to be on the non-bank end of the business, where I can help invest some of the funding I have from private investors and other non-banking sources,” Ghazi says. “We do quite a bit of construction financing, and also second mortgages and first mortgages with the trust companies, and some small to medium-sized commercial deals as well.”
Now two years in operation, GreenFlow Financial’s MO is gaining traction. Ghazi has high hopes that the company will continue to establish itself as a go-to brokerage for the self-employed. “Self-employed people are having a tough time getting funding from the banks,” he says. “They are not getting higher leverage from the banks. They need extended amortization on loans or someone to listen to their problem and come up with a solution. Obviously, growth and profitability are what any business wants. But at the same time, we want to innovate and come up with modules that can better serve our clients.”