MP Access Show by MortgagePoint

Navigating Uncertainty: Eric Delgado on Market Shifts & Solutions

• MortgagePoint | David Wharton

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Host: David Wharton. 

Episode Title: Navigating Uncertainty: Eric Delgado on Market Shifts & Solutions

Duration: Approximately 8 minutes and 8 seconds

Description:

In this episode of MP Access, we sit down with Eric Delgado of MCM Capital live from the Velocity Conference in Fort Worth. Eric shares insights from his recent panel on billion-dollar ideas and discusses how identifying problems in real estate can be the catalyst for scalable business solutions. We dive into the unpredictable mortgage market, the importance of diversification, and how professionals can turn market slowdowns into new opportunities for growth. With passion and clarity, Eric offers practical advice for those looking to expand their reach in the industry.

Key Topics:

  • Why uncertainty is the biggest challenge in today’s mortgage landscape
  • Diversifying your business around the real estate ecosystem
  • How to identify scalable solutions from everyday industry problems
  • The value of community and connections at smaller conferences
  • Leveraging FORCE and Five Star training to expand your capabilities

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Welcome, everybody. We are here on the floor at the Velocity Conference in Fort Worth. Talking today to Eric Delgado of MCM capital. Eric, welcome and thank you for taking some time. Us. Thank you for having me. This is great. Absolutely. So I know you just got off stage talking about million dollar ideas or billion dollar, billion dollar idea.

We were going big. I understand. That was really great. Just talking to a couple of entrepreneurs that are working on exciting new, topics and ideas. And you talked a lot about how people can kind of tap in and how to bring those dreams to reality and, you know, just practical ways to kind of take it from an idea to something more.

Right? So looking broad at what is going on in the market, obviously there's a lot going on. There's a lot to keep track of. In Washington just with interest rates, everything. So in your day to day, what are kind of the main trends you're seeing and what are some of the main headwinds you're facing, and how are you working to kind of get past those?

I mean, I think the biggest headwind right now is just the unknown. A lot of people are really not sure of what's happening next. I mean, had you talked to somebody this time last year, they would have banked on the fact that interest rates were going to be coming down. And, you know, the fed is going to you know, be cutting interest rates, which the ten year bond would be coming lower.

And then the actual 30 year fixed interest rate for a mortgage would go from 7% to six to maybe even 5%. None of that happened. Yeah. I mean, we had a little sliver of hope in September when the interest rates kind of fell into that six range low sixes. Yep. But then boom, skyrocket right back up. So I think a lot of people are just really confused about the unknown.

And there's really not anybody that you can ask that will give you the same, same answer. Like you're getting different answers from different people in these different people are really smart. Yeah. And nobody can sit you, sit you down and say, you know what? Hang tight. At the end of the year, interest rates will be here because everything over the last several years since Covid has been a hasn't really followed traditional, traditional thought.

Yeah. Like it's been just you would think that A plus B would equal C post Covid is A plus B is like G. And it's been just a really wild ride from an economic standpoint. So yeah, those headwinds and people, not knowing what's happening has gotten people really nervous and scared. But at the same time, just like in anything else, like, you know.

Slow times give you an opportunity to, like, grow other businesses or grow your personal business. And that's what I'm seeing a lot of people doing. Like, maybe you're not an Oreo as heavy as you were 10 or 15 years ago. That's allowed you the time to start expanding different verticals of other, other types of businesses that are real estate related.

And that's what we talked about today was awesome. Could you talk a little bit about what that looks like? Because obviously that's that's an intimidating place to be if you're really looking to think about, you know, how do I how do I diversify? What do I what am I good at? Do you have any advice for somebody who's realizing I, you know, I need to find another revenue stream or find other things I'm good at.

But where do you start, you know, from your perspective? What's that process? Look, I mean, it's really just understanding like that real estate is the center of this flywheel. I mean, if you think about real estate as a as a business sector, it accounts for over 25% of the national GDP. So somewhere in, in in the world, in the US, one out of four businesses are in some way shape or form real estate related.

And that's something people have to acknowledge. Like real estate isn't just a transaction. It's not selling a house, buying a house. It's okay. Great. Who's going to, improve the house? Who's going to be the roof? Or who's going to be the plumber? The Hvac person who's going to be the landscaper? Who's going to help you with, you know, property casualty insurance, who's going to.

And the list goes on and on and on and on. And yeah, really thinking to yourself, okay, what am I seeing as a challenge on a frequent basis and solving for that challenge? Again, we talked and then one of these sessions is what's the problem and what's the solution. And if you can find the problem and then marry that with the solution, you might have yourself a business in that billion dollar session.

We literally had two entrepreneurs, one of which was a practicing area real estate agent who said to himself, the problem is, I can't get more listings. So let me solve for that by creating the technology. And now he's gone all in on that with A-list technology to create a platform that's just crushing it in the marketplace. It wasn't because he just randomly selected being in technology.

He just had a problem that he wanted to solve for. So yeah, if you find a problem and he can come up with a solution there, you have an opportunity to make some money. That's awesome. Well, I know you have been a five star staple for some time. I always see you at these conferences. This particular one, we're about, you know, halfway through the conference at this point.

Have there been any real highlights that you would, like to point out? Anything, just meetings with people or conversations you've had, new relationships and. Yeah, I mean, I think, I think that the, the special moments in the last day and a half have been interacting in a more intimate way with the people that are here. Like, granted, the big flagship conference is in September, a couple thousand people.

It's really hard. You run into your best friends in the industry here. You're running into people that you may have never met before or seen before, and you're having real conversations and real dialog and building real relationships. And I think that's what's special. Literally, the moment I got into the hotel from to to right now, I'm meeting people and having I'm have people tugging at me.

I don't have people these meetings all lined up. It's just flying by the seat of my pants. I'm literally having the best conversations with people, and I'm just super happy that you guys put it together. Well, could you talk a little bit about your time with the force? I know you've been involved for a while. Like, what are other than these conferences in those conversations that happen here in person?

What are some of the real perks or, success stories you've seen just from your time of being associated with force? Look, I think the, the, the the notion of success leaves clues is a big, big thing that people really need to hang their hat on. And not being, not being unwilling to learn more. And the force gives the agents the opportunity to, like, think outside of their norm, like, get outside of their comfort zone and start thinking about how can I create a commercial lender?

How can I can create a a commercial real estate company? How can I create, you know, these partnerships and learn more about property preservation or fix and financing all these things that you hear about, but you don't want to get involved with because you think you can't get it done. The force enables you and it teaches you how to.

Okay, I actually can do that. And here's the material. Like what's really amazing about five Star on the force is that there's training modules that you guys have that like are incredible. And so I tell people go learn like you may not like it, but guess what? You might sit on an hour module and you're like, yeah, I need to do that.

And so that's the beauty about being part of the force. Well, thank you so much, Eric. Really appreciate your time. You want to give a shot of your your, website or anything? Oh, no, not not not necessary. But I will say this. Let me, let me know this. Okay. So, you know, one of the ideas behind the, the billion dollar idea and like these other verticals of business and real estate is don't do it alone.

So if you're out there listening to this and you say, I can't do that, it's too much, I can't be a, a jack of all trades, master of none. Well, that's the problem. You don't have to think that way. Bring people into your into your into your phone. Hire people. A partner with people. You know, we do have a if.

For those of you guys who know me, I do have an offshore company called Azinger that, I think Atco, ISI and that CEO, we have amazing, incredible talent offshore, which is pretty, pretty brilliant. But at the end of the day, just take advantage of the opportunities at the five star in the force, put in front of you.

Absolutely. Well, there you heard it straight here from Eric Delgado. And thank you for your time again. Thank you. I appreciate you very much.