Steve Rosenberg, Founder and CEO of Greystone, shares his inspiring journey from a challenging childhood in Miami Beach to leading a top multifamily lender. He discusses the importance of resilience and mentorship in forging a path to success. The conversation delves into the creative problem-solving that emerged during moments of adversity, including innovative HUD-insured loans. Additionally, Steve offers valuable insights for young professionals on mentorship and the significance of aligning with supportive employers in the real estate sector.
A client-centric approach in multifamily finance focuses on tailored solutions that build trust and empower client decisions without pressure.
Personal history shaped by adversity instills empathy and responsibility in Greystone's mission, emphasizing philanthropy as part of the business model.
Young professionals should seek mentorship and choose companies that care for employees, fostering growth and a supportive work environment.
Deep dives
Approach to Business
A non-intrusive approach to business entails providing clients with carefully crafted solutions that appeal to their needs. The emphasis is on presenting compelling options rather than pressuring clients into decisions. This philosophy is rooted in creativity and resourcefulness when utilizing available financial tools, allowing clients to feel empowered in their choices. Ultimately, this approach fosters trust and long-term relationships in the competitive multifamily finance sector.
Founding Values and Personal Journey
The personal history and values shaped by hardship play a significant role in defining company culture and mission. The founder's early experiences with loss and adversity cultivated a sense of empathy and responsibility toward others, driving the desire to make a positive impact. This philosophy extends to Greystone’s operations, where a commitment to philanthropy is interwoven into the business model, allocating a substantial portion of profits to help those in need. The belief is that by caring for others without expecting anything in return, the company can foster an environment where creativity and success flourish.
Navigating Disruption in Housing
Current disruptions in the housing market, combined with a new administration's stance on real estate, create both challenges and opportunities. With a focus on affordable housing and support from experienced leaders in key agencies, there is potential for creative solutions as the market responds to rising interest rates. Active engagement with affordable housing initiatives allows firms to differentiate themselves and align with governmental priorities. Preparedness for fluctuations in the market is essential, ensuring businesses can adapt and seize emerging opportunities.
Strategic Growth and Relationships
Collaboration with strategic partners, such as investment sales firms, enhances capabilities and market access. The integration of financing solutions with property listings enables a comprehensive service approach, addressing client needs during uncertain times. As institutions navigate challenges like over-leveraged loans, Greystone's flexibility and consultative nature position it to provide tailored resolutions. This alignment with partners allows for more effective problem-solving, creating lasting relationships that benefit both sides.
Advice for Young Professionals
Young professionals entering the real estate industry should prioritize finding a mentor who can provide guidance and challenge their thinking. It's crucial to secure a position in a company that genuinely cares for its employees and provides a clear roadmap for development and growth. Engaging in a mutual interview process ensures that prospective hires find a supportive environment rather than becoming just another cog in a machine. Lastly, fostering a sense of autonomy and value during the hiring process can lead to more fulfilling and productive professional experiences.
