Victor Lofinmakin, the president of The Lofinmakin Group is a serial entrepreneur who has carved out a niche for himself in the real estate business. In this interview, the young realtor talked about his companies performance in 2023 and the goal for 2024
1. Please introduce yourself to our readers?
My name is Victor Lofinmakin. I am the President of The Lofinmakin Group, which includes Fairdale Realty, Gazette Mortgage, Academy Property Management, Easy Continuing Education, Almanac Insurance, and Freedom Capital Group. I am the author of three best-selling books: “Success Made Simple,” “Finding Happiness is Your Only Purpose,” and #8 on the Amazon Bestseller list, “Will You Ever Be Rich?” I am a retired United States Naval officer. Finally, I am a husband with three beautiful children.
Victor Lofinmakin, president of the Lofinmakin Group
2. Tell us about your company?
Our group of companies seeks to provide end-to-end solutions to our clients and colleagues when it comes to acquiring residential, investment, and commercial real estate. We also provide critical education to consumers and professionals. We strive to assist with building wealth for our clients through real estate and other financial instruments.
3. How would you describe your company’s performance in 2023?
Relatively, 2023 was a great year for our group of companies. Some of the companies set new records, while others struggled due to the higher interest rates and increased competition. However, 2023 was a down year by our standards. On one hand, this was a planned reduction as we concentrated our efforts on our new growth arenas; on the other hand, inflation and interest rates tend to affect the real estate industry disproportionately.
4. Reasons to invest in Houston real estate?
There are numerous reasons to invest in the Houston real estate market. Some of my favorites are: 1. Houston still has one of the highest discretionary incomes for any large city. 2. Houston is extremely affordable for a major city. 3. Houston is very diverse. 4. Houston has a robust, resilient, and dynamic job market. 5. Perhaps most important, Houston has the best-looking real estate in the country.
5. Does a credit score impact a home loan?
Credit, or lack thereof, is one of the four bedrocks of getting a home loan or any loan. You will have to come and see me for a consultation to get the remaining three bedrocks. Your credit score is the biggest determinant of your interest rate, which can break your transaction. I call it a credit score—a credibility score. It is essentially a measure of whether you do what you promise to do financially.
6. Your company’s goal for 2024?
Even though we have made significant progress in business over the past 10 years, we believe we are just scratching the surface. We want to expand our business to other industries that can continue to help our community (clients and colleagues) grow their wealth.
