From First Deal to Full Investor. How One Risky Purchase Became the Start of Everything

From Mortgage Broker to Investor. The First Deal That Changed Everything

In this episode, Leo Jacobs and guest investor Mendy Pollock revisit the early days of Mendy’s investment career and the deal that forced him to evolve from a mortgage broker into a full time investor.

What began with a simple foreclosure lead turned into a loan purchase, a negotiation with a distressed borrower, a challenging capital raise, and a crash course in becoming a lender. The story is raw and honest. Nothing about it was easy. Everything about it was necessary.

A Deal That Looked Impossible

The first loan he ever bought was on a small bait and tackle shop in Point Pleasant, New Jersey.
The numbers were simple.

• Loan balance around one million
• Property value around five hundred thousand
• Purchased at roughly sixty cents on the dollar

There was no blueprint. No experience. Only a foreclosure notice, a lender who finally responded, and the willingness to act before fear took over.

Buying the loan was only the beginning. The real challenge was figuring out what to do with it.

Working with the Borrower

Mendy and his partner drove to the property and knocked on the door. No script. No guarantees.
Only one message.

You are in trouble. We may buy your loan. Do you want to stay or do you want to leave.

The borrower chose to stay.
They negotiated a deed, structured an agreement, kept him as a tenant, and completed the foreclosure without a fight. It created stability at a time when everything felt uncertain.

Then Hurricane Sandy hit.
His business shut down. Cash flow collapsed. Payments stopped.

It was the first lesson in risk, reality, and resilience.
And they survived it.

One year later, the property sold for around six hundred thousand.
The first win. The first profit. The first real validation.

Raising Capital Was the Hardest Part

Before closing the deal, they needed investors.

They spoke to around fifty people.
They raised money in small increments.
They answered every doubt and every question with honesty because they had no track record yet.

The raise happened.
The investors believed in the story.
And with that, the deal moved forward.

That difficult process built two things.

Confidence.
Responsibility.

Once people trust you with their money, everything changes.

Discovering Purpose Through Action

This first investment taught Mendy something important.

He did not want to be a mortgage broker.
He did not want to be a consultant.
He wanted to hunt for deals, analyze distressed situations, negotiate directly, and take ownership.

He wanted to be an investor.

Every step that once felt confusing became the fuel for what came next.
More loans. More investors. More deals. More confidence.
Eventually a portfolio that continued to grow year after year.

Final Thought

Episode 10.4 is a reminder that the beginning of any career shift is messy, frightening, and unclear. The first deal always looks too risky. The first capital raise feels impossible. The first negotiation feels overwhelming.

But growth lives inside those early stories.

This episode shows how one tough decision, one distressed property, and one difficult raise became the foundation of a long term investment career. Purpose appears only after action. Confidence arrives only after repetition. And success is built through the deals that almost did not happen.

🎧 Watch Episode 10.4 now

Watch the full episode of Confronting the Impossible to hear the story in Mendy’s own words.

PODCAST - Confronting the Impossible with Leo Jacobs.

Leo Jacobs, Founder and CEO of Jacobs PC

Known for finding creative, expedient solutions to complex and high-profile cases, Leo excels in matters including distressed investment and asset management, real estate law, corporate law, dispute resolution, business divorces, negotiation, and more. Leo’s extensive expertise in debt and equity structures enables him to employ a full spectrum of legal tools to achieve swift, optimal results for clients. His practice, Jacobs P.C., bridges commercial litigation, corporate transactions, and financial rehabilitation, handling cases across federal, state, and bankruptcy courts, as well as administrative tribunals.

If you would like to join the podcast email requests to pr@jacobspc.com