Veteran Founded Mortgage Company

Episode 2 – Troy Reichert

In this episode of the Wake Up Colorado Podcast, our guest is Troy Reichert an Air Force Veteran and owner of The Reichert Mortgage Team LLC based in Colorado Springs. He and his team are very experienced with VA, Conventional, FHA and USDA loans; with over 7 years of experience in the mortgage industry he aims to give his clients great value. Today he will share his journey from the Air Force to the Mortgage Industry.

From Air Force to the Mortgage industry


Troy served 20 years in the Air Force. He fixed airplanes and handled paperwork. He helped ROTC Cadets become officers. His last duty was at the Air Force Academy. He loved Colorado, and when he landed there, he knew that he would retire there and plant some roots.


Troy retired and decided to go to culinary school before going into the mortgage industry. 2012 was a great time for interest rates, and he had a local mortgage company reach out to him if he wanted to refinance.


After some twists and turns, Troy decided to jump into the mortgage industry. He refinances with a local company, and he really likes what they were doing.


Favorite Dish to Cook


Troy doesn’t really have a favorite. It’s all about the mood, but he loved learning how to make Japanese food and how intricate it is and how precise it is. It’s a different take on what he usually ate, so he really enjoyed learning that.


Opening his Office


A lot of military people have an entrepreneurial spirit. Troy felt like he was at that stage where it was an itch he had to scratch. He wanted to be his own boss and build something cool.  He really enjoyed his time at his other company. Still, he just felt like that was the next step in his evolution to put that success story together, so that’s why he opened his office.


Troy says that it’s like a child where you have to nurture it in certain ways, and it’s gonna have some mistakes and successes, and you get to get to watch it grow, which is extremely rewarding.


Three Pillars of Reichert Mortgage


Troy thinks every company needs to have a vision of what they really want to be known for and what they want to be about, and for Troy, he wants to be community-focused.


As a business and as a person, Troy tries to plug into the cool things going on and look for certain areas where there might be some needs. He says that we are fortunate enough to affect people’s lives when we own our own business. He tries to be community-focused, which is one of the pillars. He wants to be known as the person that they can go to and feel comfortable with.


Troy likes to be an authority in the mortgage industry. That dovetails into his third pillar, which is service. He wants to help other people reach their goals in purchasing a home, refinancing their homes, or just investing in their future.


The three pillars are authority, the community, and then just serving those that Troy is in contact with.




As a veteran, Troy looks for a lot of veteran opportunities. Troy likes Mount Carmel, and he thinks that they do a fantastic job in helping veterans. He is also a supporter of the Wounded Warrior Project, and he tries to do a lot of housing education.


Troy says that there’s such a tight bond people look for opportunities to help other people, and you can’t say that in every area. That’s what he really loves about where he lives. He thinks it spreads to many different places in Colorado.


Impact of COVID


COVID was a major reason why interest rates dropped. It’s a little bit of a boon in the fact that a lot of people can afford more house on the purchase side or keeping that payment lower and getting that budget in the right spot even though they’re gonna get the same amount of house that they did with a lower payment, or if they’re refinancing, then they again can just realize a lower interest rate and lower payments. Troy’s been very busy, and he’s not excited about the reason why he’s very busy because it folded. But it’s been, been a really good year for him.


COVID forced Troy’s team to working remotely. All of his team members have their own laptops, and they can just meet on Microsoft Teams or whatever platform. It works out great for them. After all, they still feel like they’re in an office because they can collaborate and do those kinds of things. Troy found it to be a great platform but still find it weird that they can’t hang out with people as much as they used to.


For troy, COVID has been a driver in some of the business numbers side of things now where he doesn’t like it.


Working at Home


Troy has a mindset where he makes his bed every morning, and he still wears his business attire. Having a business at home hasn’t really changed what Troy does that much. Though being at home has been able to allow him the opportunity to check in his kids and wife and be a bit more available on those things. Some people consider it a challenge, but Troy considers it as positive.


Troy says that you just take one day at a time and take each day as it comes. There are challenges in Troy’s life, but he tries to look at the positive side of things and focus on that and understand that there’s a lot of other people that have it a lot worse than he does.


Future of the Local Real Estate Market and Interest Rates


The way Troy looks at Colorado Springs is that you can look at Denver and see that we’re gonna be probably doing about the same thing in three to four years. We can consider that Colorado will be pretty good on the appreciation of the value of homes, and that’s both positive and negative. What Troy sees is that a lot of folks are unfortunately priced out of the market sometimes.


Troy doesn’t see anything changing anytime soon. He doesn’t see a super huge bubble in the next three to five years that could happen. Bt he sees good things for the real estate market as far as values of homes going on.


Troy sees good things as far as it’s going to be a seller’s market for quite a while to come. Interest rates are helping in some regards even though the homes are appreciating. If someone’s looking to buy, the interest rates are so low right now. It’s taking the pressure off of that and keeping them in the same budget range, which is a good thing.


Where Troy sees Interest rates are going is that the Federal Reserve has said in multiple sessions recently that they are not looking to change interest rates significantly, at least to 2021. If that comes to fruition, we’re gonna have really great rates. There is some movement in the market, but Troy sees they’re going to be very good for the foreseeable future, and for sure, it’s a good thing for everybody.


Heart For Teaching


Troy has a heart for teaching a lot of my people on his team. Troy tries to hire smarter people than him, which has worked great for him so far. He likes to teach a lot of classes. He taught in the military, and he thinks paying it forward and educating people on their options is in his heart.


Troy will build a YouTube channel of small snippets of certain mortgage related and community-related pieces of information. He finds that people can absorb that a little bit better and just talk in layman’s terms. And given the overall view of what’s going on, he is looking towards building that and seeing how that grows organically.


Troy is looking to get licensed in some other specific states that will help people in Colorado. Suppose there’s somebody that’s already n Colorado that he already helped out in the past. They just so happen to be going to the feeder states. In that case, he can help them out still and vice versa.


Advice to First Time Home Buyers


Troy recommends having a conversation as far out as a year but no later than six months from when you’re looking to purchase. Often, Troy sees there’s a challenge that they didn’t know was out there, so that gives us enough time to hopefully alleviate that issue. Start early and use local. Troy thinks a local mortgage company that is available to you based upon your needs is extremely important and knows the market.


Going with Local


According to Troy, having someone local that the listing agent can call or have a buyer who needs to get pre-approved or something like that, the market moves so quickly that if you’re not using someone local, then they might miss out on an opportunity.


Favorite Hidden Gems in Colorado


Troy really likes the waterpark at Parker. He says that it everything that you need and it’s great.


Advice to Newcomers


Drink lots of water. A lot of people do get altitude sickness. When y you’re going to come here, get hydrated a lot.


Just get settled into the differences in altitude. From a real estate perspective, be patient and be ready to jump in on something because it’s so competitive out there. Most people probably have to put three to seven offers before they get a house, so be patient and let the process happen. Trust your experts and your realtors to get you what you’re looking for.


Learn more about Troy Reichert and his company at:





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