Boris Dorfman interview

In an interview with Rachel Kline, Boris Dorfman, Founder and Fund Manager of LBC Capital, shares insights on building lasting customer relationships, emphasizing integrity and trust. He recalls a pivotal moment when keeping his word on a challenging deal strengthened client trust and led to long-term benefits. With over 20 years in real estate, Boris has built a reputation for prioritizing investor security and delivering consistent returns through trust deed investments. His leadership has grown LBC Capital to over 170 members with $100 million in assets, showcasing his commitment to fostering strong, lasting relationships in the finance community.

Thank you for doing this with us! Before we begin, our readers would like to learn a bit more about you. Can you tell us the “backstory” about what brought you to this career path?

Sure. I started out studying to be an accountant. By 23, I was working as a Senior Accountant and Financial Analyst at a Real Estate Development firm. One day in 2003, Vladimir — an acquaintance of mine- called me with a proposition. He wanted to open a mortgage brokerage but couldn’t get a license. Back then, getting a broker’s license in California wasn’t easy — you either needed a four-year degree or two years of industry experience as a licensed salesperson. Vladimir had neither. What he did have was ambition and a need for someone like me to make it happen.

We made a deal. I left my job, and in March 2003, we launched the company. The early years were a rollercoaster of growth — until 2008 hit. The crash forced us to adapt, rethink everything, and rebuild. That’s when we reinvented ourselves as a Hard Money lender. By 2012, we weren’t just surviving, we opened a Fund and started thriving again.

Can you share with our readers the most interesting or amusing story that has occurred to you in your career so far? Can you share the lesson or takeaway you took from that story?

Pre-2008, the real estate industry was in full swing, and nowhere was that more obvious than at the big industry conferences in Las Vegas. Picture thousands of people, a red-hot market, and money flowing like water. Business was happening, sure — but mostly, people came to party and spend. It wasn’t unusual to see $5K to $10K dropped on a nightclub table (and that’s in 2006 dollars). If you’ve seen The Big Short, you’ve got an idea of the vibe.

I’ll leave the details of those late-night escapades to your imagination, but here’s the thing: most LOs, AEs, and brokers at the time thought the good times would roll forever. When the 2008 crash hit, a lot of them ended up with nothing — no savings, no plan, no cushion.

The lesson? Simple: save, invest, and plan for the future. Easy money doesn’t last forever, but smart money does.

Are you working on any exciting new projects now? How do you think that will help people?

Right now, we’re focused on something exciting — our second fund, the Opportunity Fund. This fund is designed to do a bit of everything: equity investments, buying non-performing loans, and even joint ventures with less experienced developers.

Why does this matter? Because there’s a real demand for products like this. For developers, it’s the difference between an idea staying on paper and a project breaking ground. For California, it means more housing — faster. It’s about filling the gaps, removing the roadblocks, and making things happen.

For the benefit of our readers, can you tell us a bit about your experience with building lasting customer relationships? Can you share an anecdote or two that illustrates your experience in this area?

Every quarterly meeting, I remind my team: “Don’t forget — everyone is in sales, and everyone is in customer service.” It’s something we live by. From the front desk to the president of the company, everyone plays a role in creating an exceptional customer experience.

Here’s a story that sticks with me. An old client called, completely panicked. “Boris,” he said, “I’m in a bad spot. I went with a bank, and they gave me the runaround. My closing is tomorrow. I might be able to get a two-day extension, but if I can’t close, I’m losing about $100,000 — and an incredible long-term investment.”

I told him to relax. I’d make it happen. I had my entire team drop everything, call everyone involved, and move mountains. By the time his flight landed in California, he had a text waiting for him: “Drive to our office and sign the final loan documents.” Problem solved. After that, I told my team, “This is why we go above and beyond. We don’t just want clients; we want clients for life. The kind who keep us on speed dial.”

That client? He doesn’t think of anyone else now. And better yet, he’s constantly referring us to his friends — usually through a quick group text introduction. That’s the kind of trust and loyalty we aim to build.

In today’s fast-paced and constantly evolving landscape, what strategies do you employ to maintain a strong connection with your customers and anticipate their changing needs?

Technology! It’s a game-changer. We’ve invested heavily in a fully automated, customizable CRM that keeps us connected to our clients at every stage. It sends notifications as progress is made, emails important updates after the transaction closes, and even reminds clients about key dates like insurance expirations, loan maturity, and yes — birthdays.

Technology doesn’t replace the personal touch — it enhances it. Once a year, our loan officers get a notification to call and reconnect with past clients. We also show appreciation in other ways — closing gifts for borrowers and an annual Investor Appreciation Event for our investors.

In a fast-paced world, staying proactive and personal is what keeps relationships strong. Technology handles the details, so we can focus on what really matters — our clients.

Can you discuss the strategies that companies can employ to strike a balance between driving revenue and profitability, and focusing on building customer relationships and loyalty?

Never — and I mean never — compromise customer relationships for the sake of revenue. It’s a short-term win that leads to long-term losses. Instead, build a system. Automate what you can so the small details are always handled, even when you can’t personally pick up the phone.

And let’s be real — systems can’t replace the human touch, but they can email, text, and keep the relationship alive when you’re tied up. The key is to create a balance: let automation handle the routine while you focus on what only you can do — connecting with your customers.

Could you describe the metrics and measures you use to evaluate the success of your customer relationship-building efforts, and how you identify areas for improvement?

Seriously? The answer is simple. Customer relationships are about trust, and trust leaves a trail. Here’s how we measure it:

Customer retention: Do they come back? If they do, we’re on the right track.

Referrals from past clients: This is the real benchmark. When someone trusts you enough to send their friends and family your way, you’ve earned a spot in their inner circle.

Negative reviews: They’re like a mirror — unforgiving but invaluable. They show you exactly where to improve, if you’re willing to listen. I always say, don’t fear criticism — it’s an opportunity to get better.

It’s not complicated, but it’s powerful. If you’re not seeing retention or referrals — it’s not the market’s fault. It’s time to take a hard look in the mirror and ask: what can we do better?

Regarding customer-facing teams, what steps do you take to ensure they can deliver personalized, proactive, and efficient support, tailored to the needs of each individual customer?

Honestly? I stopped hiring difficult people ..like myself :). It all starts with hiring — you need people who align with your company’s culture and values. Skills can be taught, but character is non-negotiable.

Once you’ve got the right people, it’s about keeping them motivated. Burnout happens to the best of us, so when I see someone hitting a wall, I send them on vacation. Sometimes all it takes is a little time away to rediscover that spark and come back ready to give their best.

Great support starts with a great team. Hire the right people, take care of them, and they’ll take care of your customers.

What tips do you have for responding to negative feedback from customers, and what steps can be taken to turn those experiences into positive outcomes?

Always respond — and own it when you’re at fault. Acknowledge the issue, outline the steps you’ve taken to prevent it from happening again, and ask the question: “How can we do better next time? Not just for you, but for everyone we serve.” It’s rare these days to find a business that takes responsibility, and that’s exactly why it matters so much.

Negative feedback is a gift in disguise. It’s not personal; it’s a roadmap for improvement. How can you fix what you don’t know is broken? Yet, too many business owners bristle at criticism, and most customers don’t expect a callback or resolution anymore. The bar for customer service has never been lower — which makes exceeding it surprisingly easy.

Pick up the phone. Write an email. Send a handwritten note. That alone will set you apart. Want to make an even bigger impact? Throw in a small gesture — a discount on the next transaction, a bottle of champagne, or even a Starbucks card. It’s not about the dollar amount, it’s about showing you care. Attention to detail turns a negative experience into a story they’ll tell — and one they’ll tell in your favor.

Lastly, how do you use technology or AI to enhance your customer relationships, and what tools have you found to be most effective in building and maintaining them?

As I mentioned earlier, we built our own proprietary system because, frankly, the tools available just didn’t measure up. In this industry, you either adapt or get left behind, so we created something tailored to our needs — a system that works the way we do.

Of course, we complement it with a few external tools. Customizable survey platforms let us hear directly from our clients, email blast services keep communication seamless, and event invitation tools ensure we never miss an opportunity to connect. These aren’t just tools, they’re bridges to better relationships.

Technology isn’t just about efficiency, it’s about freeing up time to focus on what matters most — making sure every customer feels seen, heard, and valued. Because at the end of the day, connections, not code, are what keep a business alive.

Here is the main question of our interview. In your experience, what are five key components of building lasting customer relationships? If you can, please share a story or example for each.

The secret to building lasting relationships? It’s not magic — it’s about doing the basics better than anyone else. Here are my five key components, with a little context behind each:

Return calls and emails promptly: Responsiveness isn’t just polite, it’s a signal that you value someone’s time. I’ve seen deals go south simply because no one picked up the phone. A quick response builds trust faster than any fancy marketing strategy ever could.

Build expectations — and keep them: Overpromising and underdelivering is the fastest way to lose a client. I’d rather be upfront about what’s realistic and then exceed expectations. Clients appreciate honesty, and it keeps the relationship grounded.

Integrity; Be a man of your word: This is non-negotiable. I remember a client who thanked me years later for sticking to my word on a tough deal. The numbers didn’t favor us, but I had committed — and delivering on that promise paid dividends in trust and referrals.

Take responsibility when things go sideways: Things don’t always go as planned — that’s life. What matters is owning it. I’ve had to make a few tough calls to clients over the years to explain a misstep, but every time, taking responsibility strengthened the relationship. People respect accountability.

Post-closing experience — follow up, ask for feedback, and ask for referrals: A relationship doesn’t end when the deal is signed — it begins there. One of my favorite clients started with a follow-up call after closing. I asked for feedback, fixed a small issue, and earned not just a lifelong client but also a steady stream of referrals.

The truth is, building lasting relationships isn’t complicated — it’s about consistency. Show up, follow through, and treat every client like they’re the most important person in the room. Because, in that moment, they are.

How do you ensure that these ideas are implemented throughout the customer journey?

It’s simple, really. Try to be a little better today than you were yesterday. If one day doesn’t go as planned, step back, regroup, and take two steps forward the next. Progress doesn’t have to be dramatic — it just has to be steady.

Of course, technology and systems help keep the process smooth. But at the heart of it all, it’s about culture. Our company motto is “Respect, Trust, and Care” — and we don’t just print it on posters; we live it. It applies to everyone we interact with: clients, employees, and investors.

When you build a culture around those principles, it’s not hard to ensure they’re implemented throughout the customer journey. It becomes second nature. Respect builds rapport, trust fosters loyalty, and care ensures every touchpoint feels meaningful. Technology is the tool, but culture is the compass.

We are nearly done. You are a person of enormous influence. If you could inspire a movement that would bring the most amount of good to the greatest amount of people, what would that be? You never know what your idea can trigger. 🙂

If I could inspire a movement, it would be simple: spread small acts of kindness. Give a smile, offer a compliment, or even a pat on the shoulder when someone needs it. These little moments of connection can change someone’s day — and maybe even their outlook.

But let’s be realistic: be kind to most, not all. Some people aren’t worth your energy, and that’s okay. Focus on those who are, and you’ll create a ripple effect of positivity that can travel further than you’d ever imagine.

Sometimes, the most profound changes start with the simplest gestures. A little kindness, thoughtfully placed, can make a big difference.

How can our readers further follow your work online?

https://youtube.com/@lbccapital?si=r3cChBxRcXlVzCFb