Top commercial broker loves having a go at loans others have turned away
Son Pham likes a challenge. When a client with a complex loan request has been turned away by other brokers, Pham, director and principal broker at ReThink Financing, wants a crack at the problem.
“That really drives me to see if I can do something with it,” Pham told MPA. “In some cases, I can’t. But it’s really rewarding when I know that they’ve tried all these different brokers who can’t do it, but then I’ve been able to do it.”
That tenacity has made Pham a success – and landed him a spot on MPA’s 2022 Top Commercial Brokers list.
ReThink Finance doubled its business in commercial loans settled in the 12 months to December. Even the pandemic was a tailwind for the business, as its clients weren’t particularly affected by lockdowns.
“If anything, they probably had more money than ever,” Pham said.
And with interest rates at an all-time low during COVID-19, Pham said it was a “perfect storm” for the mortgage space.
With rates now rising, the prospect of a slowdown is very real. However, Pham said the numbers at ReThink have held up thus far. Many of the firm’s clients take the cyclical nature of interest rate changes into account, and even high inflation isn’t a huge concern, as commercial property leases generally have CPI increases built in.
Read next: MPA unveils top commercial brokers in Australia for 2022
“Our clients aren’t too focused on rate,” Pham said.
Pham said that as long as he can keep supplying the funding his clients need, he isn’t too worried about a potential downturn.
“We’re focused on our clients and just doing the right thing for them, and the rest will come right,” he said. “They’re coming to us because they want something from us – our knowledge and expertise.”
This year, Son Pham was recognized as one of the Best Commercial Mortgage Brokers in Australia, learn more about the rest of the winners in Top Commercial Brokers 2023 special report.
