Joe highlights the steep rise in Milad’s reported income after entering the mortgage industry. Milad emphasizes that the jump occurred as rates rose and many others were leaving, which made his decision to commit more unusual.

Milad says his first loan-officer job paid $13 an hour
He reports a major income increase by 2022
He increased his commitment as market conditions worsened

“2022 also is one rates went up yeah so a lot of people were getting out and I'm going all in”
Milad Shamoun · 15:00

“you entered the mortgage space yep at the worst time ever”
Joe Shalaby · 15:30

#mortgage market#contrarian#growth

Explainer· 1

Explainer05:30

Why Milad Chose Mortgages Over Real Estate Sales

After selling homes for roughly ten months, Milad compared how readily people could name a realtor with how difficult it was to name an excellent mortgage broker. He saw mortgage expertise as a less crowded route to building and leading a team.

Milad first earned a real estate license after leaving the Marines
He believed nearly everyone already knew a realtor
He saw stronger differentiation potential in mastering loans

“not everyone knows a really good mortgage broker”
Milad Shamoun · 09:00

“if I can Master loans right and I can set myself apart that's a path of success with least resistance”
Milad Shamoun · 09:00

#mortgages#career#positioning

Story· 5

Story06:30

From Marine Sergeant to Mortgage Founder

Milad left Nashville at eighteen, joined the Marine Corps, and later exited as a sergeant without a settled career direction. A short period in school and an early real estate role preceded his move into mortgages in 2021.

He credits the Marine Corps with leadership experience
Traditional college did not fit him despite valuing education
He entered mortgages after testing residential real estate sales

“I knew that I wanted to lead a team”
Milad Shamoun · 06:30

“I got out as a sergeant”
Milad Shamoun · 07:00

#military#leadership#career change

Story12:30

The Family History Behind Milad’s Drive

Milad describes his Chaldean Catholic family fleeing Iraq after war and religious persecution. His parents arrived in America with little money, and he connects his ambition with repaying their sacrifice, including buying them a home at age twenty-three.

His father spent part of his youth at war and was a prisoner in Iran
The family fled religious persecution in Iraq
Milad says his family relied on Section 8 and food stamps
He bought his parents a home at twenty-three

“they brought my you know me and my um younger sisters to America with a dollar in their pocket”
Milad Shamoun · 13:00

“I bought my parents a home at 23 years old”
Milad Shamoun · 13:30

#immigration#family#persecution#motivation

Story34:30

Why Mentorship Made Milad Loyal to Change Wholesale

Milad names Tan at Change Wholesale as an important mentor who taught him non-QM lending and supported his team. He says that sustained value made him loyal to the company and shaped how he teaches loan officers to help realtors grow.

Tan helped Milad understand non-QM lending
Milad valued Tan taking his team out in San Diego
Practical support created lasting commercial loyalty
Milad wants loan officers to help referral partners grow their businesses

“tan at change wholesale is uh definitely one of my biggest mentors”
Milad Shamoun · 35:30

“because he has taken care of me and provided me value throughout the years and helped me grow that is why I'm so faithful”
Milad Shamoun · 36:00

#mentorship#loyalty#relationships

Story42:30

Why Team Production Matters More Than Milad’s Own

Milad’s company goal is for his seven loan officers to produce $100 million collectively without counting his own production. He illustrates the motivation with Jimmy, whom he taught several non-QM structures before Jimmy closed multiple loans and improved his financial position.

The team target excludes Milad’s personal production
He taught Jimmy bank-statement, profit-and-loss, DSCR, and asset-depletion options
Jimmy closed five or six loans in roughly a month
Milad says helping another person earn money revealed his purpose

“I want them to collectively do $100 million together”
Milad Shamoun · 43:00

“I have to create more jimmies”
Milad Shamoun · 44:30

#team building#purpose#leadership#mortgages

Story45:30

Milad’s Goal to Reunite His Family in San Diego

After living away from his family for ten years, Milad says he plans to move his parents and two younger sisters to San Diego. His goal is to buy them a home in East County and have the whole family in one city.

Milad has lived apart from his family for a decade
He wants his parents and sisters in the same city
He plans to buy them a house in East County San Diego

“I'm moving my family here with the next couple months”
Milad Shamoun · 45:30

“I've been alone for the last 10 years”
Milad Shamoun · 45:30

#family#san diego#goals

Takeaway· 5

Takeaway04:00

The House, G-Wagon, and Rolex Did Not Create Happiness

Milad says he once believed money would create happiness. After buying a $2.5 million home, a new G-Wagon, and a Rolex, he still felt unhappy and concluded that purpose matters more than material milestones.

Material purchases did not produce the expected emotional payoff
Milad now places greater weight on purpose
Joe frames health and education as priorities worth funding

“money does not buy happiness I promise you it does not”
Milad Shamoun · 05:00

“I feel like it's purpose”
Milad Shamoun · 05:00

#purpose#money#happiness

Takeaway26:00

Growth Required Leaving the Room Where He Was Number One

Milad says a conversation with Brandon Martinez helped him realize he needed an environment where he was not the top producer or smartest person present. He credits joining E Mortgage Capital with accelerating how much he learned in a single quarter.

Being the top performer can limit exposure to stronger peers
Milad deliberately sought people who were better at the work
He values both technical ability and generous character in a team

“you are not going to get to where you want to go unless you go somewhere where you're not number one”
Milad Shamoun · 27:00

“I want to be around people that are smarter than me”
Milad Shamoun · 27:30

#learning#peer group#growth

Takeaway31:00

The Advantage Is Getting Up Faster After a Loss

Milad recounts a difficult year involving heavy spending, overlapping property costs, an uninhabitable home, an insurance dispute, and a stolen watch. He argues that losses create learning and resilience, while Joe says successful people distinguish themselves by recovering faster.

Milad says he took on too many major expenses at once
A home leak led to months of insurance conflict and overlapping costs
He believes pain reduced his fear of future setbacks
Joe defines resilience as getting back up faster

“you only learn from your losses”
Milad Shamoun · 33:00

“they get up faster than everybody else”
Joe Shalaby · 33:30

#resilience#losses#recovery

Takeaway41:30

Business Growth Came With a Health Cost

Milad says years of concentrating on building, scaling, hiring, and reinvesting caused him to neglect his health. He hired a personal trainer and set a goal of reducing his weight from 210 to 180 pounds while continuing work he loves.

He says business focus contributed to weight gain
He hired a personal trainer to return to the gym
His stated personal target is to reach 180 pounds
He describes problem solving and helping people as intrinsically enjoyable

“I forgot that you know health is important”
Milad Shamoun · 03:30

“I want to get back down to 180 I'm at 210 right now”
Milad Shamoun · 41:30

#health#fitness#balance

Takeaway46:00

The Legacy Milad Wants at the Pearly Gates

When Joe asks what God will say at the Pearly Gates, Milad answers in terms of generosity rather than business performance. He says he hopes the verdict is that there should have been more people like him because he loves giving back.

Milad defines his desired legacy through giving
The answer reinforces the episode’s service theme
Joe closes by linking team success with Milad’s next level of success

“I wish there was more you I love giving back”
Milad Shamoun · 46:30

“when they accomplish that success then you accomplish another level of New Heights and new success and new abundance”
Joe Shalaby · 47:00

#legacy#giving#faith

Frameworks in this episode

Hard-Loan Niche Entry

Lone Goat Opportunity Operating System

Value-First Relationship Leverage

Insights & moments

◆Hot Take· 1

Milad Went All In While Mortgage Professionals Exited

✶Explainer· 1