My name is Tracy Kelly, I am the owner of KELLY MORTGAGE Inc.!
Welcome to my blog! I wanted to start by sharing a little bit about myself. I started my own mortgage company twelve years ago, this was not my original career plan. When I was purchasing my first home my realtor exploited my naivety. This inspired me to educate myself in all areas of home mortgage. Soon after Kelly Mortgage was born!
In this blog, you will experience what it is like to own a mortgage company through the eyes of a mother, business owner, and entrepreneur!
if opportunity doesn’t knock build a door
-milton berle
For All The Mother’s Who Own A Business:
from the little spark may burst a mighty flame
– dante
Top 5 challenges I experienced when starting Kelly Mortgage:
- Learning all the legal aspects of starting a mortgage company.
- Managing my time between new business and caring for my infant son as a single mom.
- Understanding that my goals are not always going to align with my employees.
- Keeping up with the constant changes in my industry.
- Dealing with the different personalities of my vendors and clients.
whatever the mind can conceive and believe, the mind can achieve
– napoleon hill
Dear New Business Owner:
I wanted to take the time to give some insight into what I experienced as a young business owner. Not all this information will apply to everyone, but I hope that it can shed some light on what starting a business entails.
First, you’re able to work wherever and whenever at the same time this means managing your time is key! The success of the business relies on you.
Running a business is stressful, don’t hesitate to ask questions or seek out advice. Yes, interviewing someone who has failed at owning a business can’t help you avoid the pitfalls. Even after 13 years in the business, I still look to those I respect for advice. I will go as far as to interview other successful business owners – advice is always helpful.
Second, when it comes to employees do not expand too fast. It is important to pace yourself. Make sure that you maintain a balanced and happy work environment. When you’re looking to hire, I have found that the more detailed your interview the better. Get to know the interviewee on a personal level. You should want to be compatible given you will be spending much of your time together in the office.
Finally, to all the women business owners do not lose your femininity! You’re allowed to stand up for yourself. Speaking your mind doesn’t mean that you’re challenging. People will respect the fact that you know what you want and won’t back down if necessary. Don’t let anyone try to tell you how to run your company and don’t take advice from anyone who you do not respect.
Social Media in Business:
Keeping up with social media can be a bit chaotic, I know that many of you know exactly what I mean. I read articles almost daily about what to post, how to post it and what others would find engaging. No need for a boring post! Lately, this is what I have learned about keeping current with all social media platforms:
-LinkedIn is not an option – for a big or small business LI is a necessary tool
-Consistency is key – there are many tools out there to schedule your posts ahead of time so you don’t even have to remember! Who knew?
-Post more images! Brighten up that feed!
-The more communities you join online the better
-Be specific with content – is it helpful or useful?
innovation distinguishes between a leader & a follower
– steve jobs
Words From a Respected Business Friend:
You’ll never know everything.
You’ll never know what you don’t know.
What you don’t know doesn’t matter, either.
If you have a passion to do something. If you know in your heart that you can bring something unique to the world. If you know what the worst-case outcome would be.
Don’t let fear hold you back.
Don’t let staying put until you “do more research” hold you back.
Don’t let what you don’t know, slow you down.
Because you will learn by doing.
a leader is one who knows the way, goes the way and shows the way
– john Maxwell
- I do not try and do everything on my own anymore – I allow others to help
- I DO NOT say “yes” all the time – sometimes “no” is the best answer
- I take time for myself – allowing a rest time makes me more efficient
the only source of knowledge is experience
– albert Einstein
Many have asked how I keep a level head when making important decisions regarding my company, here is what I say:
I remember that I should NEVER make a decision out of fear or anger. Doing so means that I am not making good choices. I also try to apply this to my personal life. Taking a few deep breaths helps me focus and sort out what’s in my head. I tend to think quick on my feet and there are moments when I need to slow down. Take a second to think about each path and the possible outcomes prior to jumping off the cliff.
it always seems impossible until it’s done – nelson mandela
The time has come 2019 is here! Reorganize, Reboot and Reenergize! Let us look forward, set goals and come at this new year with fierce determination!
strength and growth come only through continuous effort and struggle
napoleon hill
EXCITING NEWS! Kelly Mortgage Inc. just had its Grand Opening, we moved to a beautiful new office that feels like HOME and couldn’t be happier. So thankful for all our friends, family and business partners that came down to show their support. Nothing like a party to kick off the weekend!
life is about change and growing with it, resisting change is resisting growth – anonymous
Decided weekly meetings with my assistant now mandatory! To all of you who have an assistant or are thinking about hiring one, in my opinion, it is a MUST. I contemplated it for quite some time and realized that I was at a point where I needed some assistance and certain tasks I just did not want to handle anymore. It freed up so much more time for me to do the things I actually wanted to do on a daily business, not to mention she keeps me organized and more on time than I have ever been.
listen to your own heart, not other peoples fears
Figure Skating – A Love Affair
I’m often asked about my figure skating background and I’ve never really given it much thought except that I would answer with some generic thing like “I started when I was about 10 and stopped when I was about 19.”
That statement doesn’t do justice to a sport that I loved so much. My love affair with figure skating began when I was asked by a friend, who was a very accomplished skater, to join her for a public session at Ice Capades Chalet in Costa Mesa. That was it, I was hooked. I loved the feeling of the ice under my feet and the wind in my face as I pushed myself around the rink. I remember a girl asking me if I could do a “waltz jump” and since I had no idea what it was or how to do it, I copied her. It was far from perfect, but at that moment, I knew that I wanted to learn more.
I went home and asked my mom for skating lessons. My mom, who was a single parent at the time and worked her backside off to pay for the bare necessities and an occasional treat, said “yes”. I never asked for anything since I knew that we didn’t a lot of money, but mom could see that I had fallen in love with skating.
Over time, I spent more and more days, and nights when I wasn’t in school, at the rink. My daytime lessons became my 5:30am figures, 6:15am freestyle, 7:15am figures, and 8:00am freestyle … then to school. After school, back to the rink to skate for a couple of hours, followed by ballet and jazz classes, and then home for dinner and homework. My days were long, but I was always up by 4:30am to head for the rink.
This was my life for 9+ years and I loved it. The smell of the ice, the feel of the wind in my face, the friends I hold dear to my heart, the feeling of flying through the air, but mostly, I cherish the memories I will always have because my loving mom said “yes” to skating lessons. I love you, mom.
as knowledge increases, wonder deepens
– charles morgan
Why Travel with your Kids
A few years ago, I took my son to New York for 5th-grade graduation. Needles to say, I caught a great deal of crap for it. I was told that I was spoiling him, blah blah blah … While I don’t owe anyone an explanation of why I did this, I feel that it is important to write about why I feel that traveling with your children is important.
It doesn’t necessarily have to be out of state. There are so many things that you can do in the state where you live.
I chose to take Spencer to New York because, frankly, I always wanted to go, and he was excited about the opportunity. We spent 5 days seeing as much as I could cram in, from School of Rock on Broadway to visiting Ground Zero and paying our respects to those who lost their lives. We went to St. Patrick’s Cathedral, a Yankee game, the Statue of Liberty, Ellis Island, and so much more! This trip opened his mind to a whole new world of experiences both educational and fun, but most importantly this trip created the opportunity for a mother and sons’ relationship to grow. We spent time together without electronics, disruptions from work, etc. No rules, except that we stay close enough to keep an eye on each other.
Our next big trip was to Canada. This was incredible … so much so, that we can’t wait to go back.
Everything we do is an adventure. We take day trips or weekend trips to cool places like Julian, CA. This is a great place just an hour east of San Diego. It is so much fun and they are famous for their apple pies.
Whenever we travel, I take pictures and ask Spencer about each thing we do. I then put the pictures in a diary and handwrite our experiences. It’s so much fun to read through our journeys and reflect on our adventures.
I find that the more we travel with our children, the more educated they become to different cultures. I know you’re probably thinking “duhhhh”, but it’s not just about the sites you see as much as it is the people you meet, seeing how they live, trying different foods, and just building those important bonds filled with memories of time spent together.
life is not a problem to be solved, but a reality to be experienced
– anonymous
5 Most Popular Mortgage Myths
If you’re on either end of the spectrum – nervous about home buying or excited about the prospect of being a homeowner – here are some misconceptions about mortgages that may help you.
- Your credit has to be perfect or near-perfect. Often people believe that they have to have a very good credit score to buy a home. Obviously, there’s no doubt that a high credit score will help you get a better loan, it isn’t a deal-breaker if your score isn’t “perfect”. If you have some credit issues but pay your bills and make a steady income, you probably don’t have much to worry about. Yes, credit is scrutinized, however, there are loan types that will allow credit scores as low as 620 and even lower. Other compensating factors such as larger down payments or low debt-to-income ratios can offset some negative credit information. Every situation is analyzed individually.
- You must have a down payment worth 20 percent of the purchase price. Not true at all. Yes, it helps to have a 20 percent down payment, particularly if you want to avoid paying monthly private mortgage insurance. Many mortgage companies offer loans that don’t require a down payment anywhere close to 20 percent.
- A house is a great investment. It can be a good long-term investment, but nothing in real estate is guaranteed. Particularly if you plan to live in the home for several years, and you can’t afford to lose a lot of money, you need to think of your house as a house – not a financial tool designed to pad your investments or retirement.
- You own the house the moment you get the keys. That’s how many homeowners think. But make no mistake, the bank really owns your house until it is totally paid off.
- Once you’re pre-approved, you’re all set. Once you decide you’re ready to make an offer as soon as you see a home you want, get pre-approved for a mortgage. That can make you a more competitive buyer, putting you ahead of those who are merely pre-qualified and those who have not even consulted with a lender. Pre-approval doesn’t mean you’re all set, though. You’ll be continuing in the mortgage-securing process, with the bank asking for all kinds of documentation related to your income and financial health. If you’re self-employed or have a new job, you might be seen as a riskier bet and might have to answer more questions and supply more information. You’re not done until the underwriters have cleared you for your closing. (It can help to not be trying to buy more house than you can really afford, as that makes you a riskier bet to lenders. You don’t want to stretch yourself too thin, with little margin of safety.)
Sometimes we have to force thoughtful change
Why I Love the Mortgage Business
I have to be honest, there are so many things I don’t love about the mortgage business. There are days where I wish I had chosen a different career. Then, a borrower comes along who needs my help, a borrower who has been taken advantage by a large bank or a mortgage company who treated them like a “commission check”. I get to step in and help. I really enjoy helping people; it fills me up knowing that I helped a family get their first home, maybe I helped someone save their home, facilitated a refinance that allowed a child to go to college, pay off medical bills, fix up a home. The list of ways I get to assist people is long … This is one of the reasons I love the mortgage business. The biggest reason, for me, is that I have never missed one event in my son’s life. I didn’t miss him cutting his first tooth, I didn’t miss his first step, I didn’t have to put him in daycare (I’m not judging if you have to), and I was able to volunteer at his school. While my choice to put him first, ahead of my business, kept me from growing my company, I love being a mom and I love the fact that the mortgage business allows me that opportunity.
Sometimes we must lose the small battles to win the war.
Favorite Holiday Memory
I remember my grandma, my great aunt, my Aunt Sharyn, and mom all cooking in the kitchen. If I close my eyes, I remember the smell of the turkey cooking, the stuffing, and the smell of the pies baking. I can also remember the laughter coming from the kitchen. My grandma would give directions, and my aunt Sharyn and mom would be moving around like little bees trying to make everything perfect. I also remember my grandma pretending to be annoyed at me because I would put black olives on my fingers and eat them off one by one and she would have to open another can to replace the ones I ate. I miss those days.
2020
Cheers to a new year, and another chance to get it right.
The 2019 Year Reflection
I think this year has been about getting my life settled, whether it be finishing up my house, competing in a national ballroom competition, paying off my car early… I tried really hard to keep my eye on the ball and stay laser-focused.
As for 2020 goals, I have yet to finish brainstorming… to be continued.
The Best View Comes After The Hardest Climb
Three tips for success in the mortgage business?
1. Make sure that you have a superior support network. This should include, but not limited to, your title and escrow company, lenders, processing team, office manager (if you’re big enough), appraisal management company, credit reporting company, etc.
2. Know your lender’s products and guidelines.
3. Follow up and follow through with your clients. Never promise more than you can deliver
Kelly Mortgage Inc. Company Values
RESPECT for our clients and lender relationships is of the utmost importance.
INTEGRITY – We are honest, open, ethical, and fair
PASSION – Passion is at the heart of our company.
We are continuously moving forward, innovating, and improving, customer service, responsibility, and family are always first, no matter what.
KELLY MORTGAGE IN A NUTSHELL
Kelly Mortgage is a mortgage company that is focused on the entire client, not just getting a loan. What this means to us is that we look at the client’s goals and why they are getting a loan. Sometimes, the borrower just wants to refinance their property without looking at the entire picture. This is where we come in. By asking a few simple questions, we are able to help the borrower more effectively. Home equity and how to use it is our specialty.
The mortgage industry is not where I thought I would end up. I thought I would be an ice skating coach, I spent close to 11 years on the ice and I love kids. So I always said to myself teaching kids to figure skate would be my life’s work.
I needed to acquire leadership skills and fast once I owned a business.
I feel like my leadership skills have grown as I have grown with my company and that leadership skills are an ever-evolving thing. Some people are self-starters, and some need more direction. I’ve always believed that I would never ask anyone to do something that I wouldn’t do myself. So, with that in mind, the answer to this question has many answers. Leadership skills consist of being reasonable, honest, have integrity, stay firm in your beliefs but still be willing to listen to new ideas (these can lead your company to an even higher level than you thought), communicate, just to name a few skills that I feel I’ve worked on over my 16 years owning my company.
One inevitable fact about running a business is that you must learn and grow as you go!
The closing of Kelly Mortgage and Realty, Inc. and rebranding as Kelly Mortgage, Inc. something that I never expected to be as successful as if has been. Being able to take the knowledge I learned from owning Kelly Mortgage and Realty, Inc. and applying the amazing strategies from that company to Kelly Mortgage, Inc. was huge for us. Also, really learning what not to do from the 12 years owning Kelly Mortgage and Realty, Inc. Was even more beneficial. It’s sort of like having children, you make all the mistakes with the first one and then try not to make those same mistakes with the next one. Each “child” has their own special issues and we get to learn as we go. We take the good and the bad and grow from there.
Don’t Wait for Opportunity, Create It!
Advice for Women Entrepreneurs
Don’t let the fact that you are a woman get in the way of your success. Being in a male-dominated industry can be challenging most of the time. If you are too tough, you’re called a “bitch”. If you get passionate about something, you’re called “too sensitive”. We, as women, are AMAZING!! We can hold a baby in hand and still balance the world on our shoulders. Stay focused, keep your eye on the prize, hold your head up and make them notice you.
As a business owner and a mother, what steps do you take to maintain good self -care?
Oh my gosh … well as most people know by now, I love to dance. Ballroom is what gives me breath. My son gives me life, but dancing keeps me sane. I also take the time to get my nails done with my girls, have lunch with friends and spend time alone (always at night before bed). Even if it’s watching a T.V. show for 30 minutes (I almost never make it past 10 minutes before I fall asleep), I feel like I need this type of “mind space” in order for me to be a better human. As I think about it, sometimes, after I drop Spencer off at school, I will drive the “long” way to work and listen to music on my in. This is also super helpful. It’s the little things that can make a huge difference.
What skills would you like your son to learn from your example (business or personal)?
This list is long. Spencer is crazy smart. Smarter than I ever was at his age, but he has almost no drive. I am very driven and can be crazy focused when I want to be. I’m an overachiever by nature and would want Spencer to have just 25% of this from me. I think that his creativity gets in the way of him being organized, but if he were more organized, would that take away some of his other amazing talents? I ask myself this question all the time. I can only hope that when and if he gets married someday, he marries someone who will help keep him focused.
March 2020 – May 2020 Quarantine
COVID – 19 has brought change for us all, daily we reflect and remain strong. The Kelly Mortgage Inc family is continuing to work around the clock from the safety of our own homes. Though we have all needed to adjust our mindset to a home office, we are still moving forward business as usual! On the personal side, I have been making my own facemasks and distributing them throughout my neighborhood. Trying to focus on the positive and supporting those around me, reaching out daily to family and friends. Sending virtual HUGS during this challenging time.
QUARANTINE HOMESCHOOL TIPS:
For all parents out there, BE PATIENT …. Set aside a specific workspace, allow for breaks, and stick to a schedule as much as possible. More often than not this is possibly more stressful on your child than on you. You might have a bit more knowledge regarding what is happening in the world and they feel anxious and confused. While they may not show it, they may be confused about their new norm.
How has quarantine changed the way you parent?
Being quarantined hasn’t changed the way I parent at all. I’ve tried to keep our lives as consistent as possible. I feel that maintaining a certain level of structure makes life easy for everyone one. I try and be more patient, realizing that my son is not able to be around friends and have a “normal” childhood. We try and find things that we can do as a family that get us outdoors while keeping us safe.
I don’t know about you but my family dynamics have sure changed since the
COVID Quarantine.
Changes I have seen recently, we eat at home much more, instead of personally doing all the cooking when we do eat at home, we are cooking together. This has brought a new and more positive energy to the family.
Don’t get me wrong, there is definitely tension since we are sharing space all the time there really isn’t any “me” time. We’ve taken this time to get our “home space” organized and finish some home projects that we have been putting off. This part has been really great since we actually have the time to do it right instead of rushing through because we are going here and there.
PET PEEVES… we all have them!
My biggest pet peeve? … (toilet lid up) lol – it drives me NUTS
Honestly, the list is long …. My son leaving dirty clothes 2-inches from his laundry basket! Just to name a couple.
The biggest challenge that Kelly Mortgage faced in 2020 was how to deal with the increase in business we experienced while dealing with COVID-19.
We are nimble, thank goodness, which really helped, but there were emotional strings being pulled due to the fears that each of us had to deal with while trying to focus on work.
Our company is strong and our team is the best I have ever worked with, so I feel that that was, as is, why we are successful and how we made it through 2020.
As a business owner and a mother what steps do you take to maintain good self -care?
Oh my gosh … well as most people know by now, I love to dance. Ballroom is what gives me breath. My son gives me life, but dancing keeps me sane. I also take the time to get my nails done with my girls, have lunch with friends, and spend time alone (always at night before bed). Even if it’s watching a T.V. show for 30 minutes (I almost never make it past 10 minutes before I fall asleep), I feel like I need this type of “mind space” in order for me to be a better human. As I think about it, sometimes, after I drop Spencer off at school, I will drive the “long” way to work and listen to music on my in. This is also super helpful. It’s the little things that can make a huge difference.
Mortgage Gal 