Wednesday, July 6, 2022

Interview with Terry Gangaram real estate entrepreneur & founder of Drexel mortgage corporation

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1- Hello Terry, can you please tell us a bit about yourself?
Hi, my name is Terry Gangaram, I’m a real estate entrepreneur, founder of Drexel Mortgage since 1995. I like to help people buy their dream homes to achieve their goals. For over 30+ years I’ve helped thousands buy, sell real estate all over the United States.

2- What are your business focus areas and why?
Drexel’s business focus areas are providing loans to the real estate markets. The loans Drexel provides are primarily residential mortgages in New York State, as well as commercial real estate mortgage all over the United States. Residential real estate can be 1-4 family homes, apartments, houses. Commercial real estate include offices, warehouses, gas stations, most common places of business.

3- How do you describe “Drexel mortgage corporation” in few words?
Drexel Mortgage is New York’s premier loan service provider.

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4- Where do you think you are making an impact?
I think I’m making an impact helping people get the houses they want. I’ve met thousands of people looking to buy homes who I’ve been able to provide loans for so they can move into the homes to move on with their goals.

5- What are some things that most people don’t know about your job?
Some things that most people don’t know about my job is the amount of paperwork it takes to get a loan approved. The amount of time a loan takes to be worked on. Being able to package a loan properly to meet the expectations of underwriters can vary greatly depending on the loan.

6- Where do you see yourself in the next 5 years?
In the next 5 years I’ d like to remain a core NY residential lender, but to be able to offer commercial loans throughout the country. Especially to small business owners, whether it may be traditional commercial loans, or stated income loans to the small business owners who are unable to document their income.

7- What were some of the biggest challenges you encountered while working on “Drexel Mortgage Corporation”?
Some of the biggest challenges include how to educate the market on the different kinds of mortgages available as well as how mortgages can be used. The Drexel brand took years to refine to make it as simple as possible for home buyers to be comfortable with mortgages.

8- What can you tell to young people who are pursuing their dreams?
Stick to your dreams, it may not happen right away, it will.

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9- What are you most excited about at the moment?
At the moment I’m excited about reaching out to the market helping people buy the homes they want to achieve their dreams.

10- The last Word or final thoughts?
Thanks very much for having me on your site. Feel free to contact me with any questions, (718) 441-1515, and

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Noelle Elia
Noelle Elia
is a Financial analyst at PSPC. Graduated from Telfer School of Management, Finance/Accounting with interest to Entrepreneurship and New Media.
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