Ep #95: The Art of Selling RENO Loans, Prospecting Agent Teams and Closing 250 Loans per Year

Kathy Hadad breaks down how she closes 250+ loans per year using renovation loans, targeting listing-agent-led real estate teams, and a disciplined follow-up system for pre-approved buyers. Best for LOs who want to add reno loans to their mix or crack into high-volume agent teams without cold, transactional outreach.

Takeaways you can run this week

• Run a weekly pipeline review every Tuesday: have your team copy you on every email so you know deal status before any agent or client calls — speak in facts, not vagueness, to de-escalate fires instantly.
• When a pre-approved buyer goes quiet or says 'nothing fits,' pitch renovation loans as a creative solution — use the phrase 'instant equity' and run a payment scenario showing them the combined purchase + renovation monthly cost vs. market rent or a move-in-ready home.
• To convert FHA deals dying over repair conditions: call the listing agent and say 'The seller won't make repairs — we can convert this to a 203K, keep the deal alive, and close it.' Build a shortlist of 2-3 reliable local contractors and HUD consultants to back that pitch with speed.
• Post a video about a deal you saved — e.g., 'Bank denied a client 1 week before closing; here's how we closed in 5 days' — and track which agents comment or share. Once an agent engages twice, send a Facebook message first, then follow up with a phone call if no reply: 'Hey, wanted to grab a coffee and learn more about what you're working on — how can I help?'
• Friend real estate agents on Facebook deliberately by pulling rosters from local brokerages, then engage on their personal posts (kids' birthdays, sports, milestones) for 2-4 weeks before any business conversation — let the ask for a meeting feel organic.
• Back into your annual goal with a conversion formula: track how many pre-approvals convert to closings each quarter, then calculate exactly how many new agent touchpoints or pre-approvals per week are required to hit your unit target — write this down, not just in your head.

The playbook

1. 1. Get agent referral → call client immediately, build rapport, offer phone application or online option.
2. 2. Once docs received, review personally and present loan options — get client excited about buying.
3. 3. Notify referring agent at every micro-milestone: left voicemail, connected, pre-approved.
4. 4. After pre-approval, follow up with client weekly for first month, then every two weeks — track on a physical prospect sheet reviewed daily.
5. 5. At each follow-up, offer a creative solution if they're stuck: renovation loan, different price point, two-family home, updated payment scenario.
6. 6. Hold weekly Tuesday pipeline review with team; stay copied on all processor emails to maintain deal fluency.

Worth quoting

“Bad hires are worse than no hire at all.”

“With me, they always say, 'I don't have to worry about the loan' — to me, that's everything.”

Best for

LOs who have solid agent relationships but haven't added renovation loans to their pitch or tapped into listing-agent-led teams as a volume multiplier.