This is a follow up story for Stratton Equities. If you're interested in reading how they got started, published almost 4 years ago, check it out here.
Hello again! Remind us who you are and what business you started.
I am Michael Mikhail, Entrepreneur, Real Estate Investor, and the CEO & Founder of Stratton Equities - the leading nationwide direct private money lender for real estate investors.
We specialize in having the largest library of innovative loan programs under one roof.
Tell us about what you’ve been up to! Has the business been growing?
March of 2020, our whole world was affected by the pandemic that shut down many businesses; Stratton Equities was one of them. From day one of the lockdown to August 2020, we closed our doors and completely furloughed everyone.
We safely reopened in August of 2020 and started restructuring our workflow by rehiring and retraining our employees.
We consistently grow, adapt, and evolve with the ever-changing world of technology, so updating and providing the latest software programs and training to my team is vital for their day-to-day operations.
Our company grew to twelve full-time employees from the rest of 2020 to December of 2021. We increased our marketing efforts through advertising. Our mortgage programs have expanded so Real Estate investors have access to a one-stop shop for all their direct hard money and NON-QM loan programs. We have expanded our customer service utilizing updated software and technology and extensive training.
We also have received awards and commendations as Forbes Magazine selected me for the class of 2021 for “The Next 1000,” which showcases those who are redefining what it means to build and run a business today. Stratton Equities was also honored by the NJ Biz, New Jersey’s leading business journal, as one of their Top 250 Privately Held Companies for 2021. I have also been nominated for the 2022 Ernst & Young Entrepreneur of the Year program.
This year for 2022, we have started forming our foundation for success as we are doubling our employee base and creating more advertising opportunities in top-tier media. We are the leading Nationwide Direct Private Money & NON-QM Lender for real estate investors as we are on track to have our flagship year for 2022 into 2023.
What have been your biggest lessons learned in the last year?
Valuing human capital is vital in today’s world. That’s why we hire intelligent and effective people to implement strategies to expand the footprint of our private money programs to serve a broader range of customers. This culture keeps top talent on board for growth as we target those leaders within Stratton Equities to cultivate those relationships to further the company’s goals and objectives. And with an emphasis on continuous training, education, and technology, the staff is well equipped for the future success of Stratton Equities, as everyone on the team is vital to its growth.
When some companies started downsizing their staff and switched to artificial intelligence solutions, we saw the need to integrate both worlds. Still, I am dedicated to the people who work with me, and keeping them happy is essential. We consistently grow, adapt, and evolve with the ever-changing world of technology, so updating and providing the latest software programs and training to my team is vital for their day-to-day operations. It also gives us a consistent business flow that has them coming back, so our business is consistently growing.
Stratton Equities invests in our employees as we provide extensive in-house training and give something no other lending company does; equipping our loan officers with an overflow of direct organic leads. Our experienced loan officers can tailor the perfect loan option for real estate investors wanting direct private money loans with an ethical yet experienced financial institution. This helps sustain outcomes that protect and drive future business across all platforms and programs because no company operates as Stratton Equities does.
What’s in the plans for the upcoming year, and the next 5 years?
2022 will be our first significant year as we are building for 2023 which will be even bigger. By the end of 2022, Stratton Equities plans to double its personnel and have $50 MIL in closed loan volume a month or $600 MIL a year.
Are you looking to hire for certain positions right now?
Yes, we are always looking for good quality employees to add to our dedicated team. We would love to help advance the careers of those interested in belonging to a company that will give them the support, knowledge, and leadership to be successful. Those interested in applying can visit our website and see the available opportunities.
Where can we go to learn more?
- 4,818 founder case studies
- Access to our founder directory
- Live events, courses and recordings
- 8,628 business ideas
- $1M in software savings