Few have bounced back from adversity quite like this…
Aaron Chapman (pictured) was never meant to be in real estate – his first jobs were in cattle ranches, oil fields and underground in the mines. But when the work dried up and his bank account became overdrawn, he decided knew he had try his hand at something else.
“I had a very, very long resume and all these different disciplines of that type of work,” Chapman said. “But nobody would hire me because I was overqualified for every position I applied for. I finally got to a point where my accounts were overdrawn. My wife had given me a coupon for free diapers because we couldn’t even afford them for my son.”
After being knocked back again for a $10 an hour truck driving gig, Chapman was devastated – having to wipe the tears from his face. However, a chance meeting in a parking lot led to some fiber of hope.
“I heard my name called and I turned to face a guy that I used to work with,” he told MPA “He asked me to go to dinner as he had a gift certificate for Red Lobster. That’s where he introduced me to the mortgage industry.”
Stepping into the mortgage industry
After securing an interview with a mortgage broker – and buying some ‘business like’ clothes with a gift from his mom – Chapman began his career in telemarketing. Despite a transition that was anything but easy, he persevered, taking on various roles in the industry, navigating challenges, and facing the financial crash of 2008.
“I also got into a motorcycle accident,” he told MPA. “It put me in a wheelchair and took my memory from me. My mind would recycle every three minutes and I had to come back to an obliterated industry too. This is where I discovered a real estate investor coming into Arizona buying distressed properties – and I started working with them. I had to go through physical therapy to get back on my feet, a lot of therapy to where I could use my mind again, but I recreated my business around the real estate investor. And now I’m ranked #7 in the US – out of 1.1 million people doing my job.”
Now, as branch manager of real estate finance at SecurityNational Mortgage, Chapman’s success story is intertwined with the rise of real estate investors seeking opportunities in distressed markets. Chapman’s strategy was simple – follow the investors, not the marketplace. This adaptability and commitment to client relationships has resulted in a substantial database of over 30,000 people. But navigating the ever-evolving real estate landscape, means addressing increasing concerns among investors.
“They need your expertise… more so, they need you to be their support,” said Chapman. “And also be a voice of reason for them because they’re still humans. They went from an environment of interest rates of twos and threes and fours and now they’re in the sevens and eights. How do they reconcile an interest rate that’s double and triple what it used to be?”
Why people should still buy houses
But despite buying uncertainty, Chapman still believes that people should be buying – and not be put off by interest rates.
“When people ask if they should wait until the interest rates go down, I think, well, what do you think the price of the house is going to be then?” he said. “If you don’t secure the price now, you’re going to pay a lot more later.”
Looking ahead, Chapman offers practical advice for those entering the market. He cautioned against attempting to time the market, emphasizing the importance of understanding baselines, building the right team, and leveraging the infinite banking strategy.
“The goal for the future is understanding who’s holding inventory,” Chapman said. “And trying to move that inventory once you understand what they’re holding. It’s tailoring programs and products and marketing to benefit the people we do business with.”