From Admin to Advocate: Building a Career and a Community in Commercial Real Estate

By Monica Schroeder, Vice President of Originations, Capital One Multifamily Finance

With over two decades of experience in the Commercial Real Estate (CRE) industry, I have witnessed the ebb and flow of market cycles, the evolution of financing structures, and the shifting landscape of property management. As a senior leader within the Capital One Multifamily Finance team, my tenure has been defined by a commitment to precision, relationship-building, and a deep understanding of capital markets, with a specialized focus on Manufactured Housing Communities (MHC). However, the true cornerstone of my professional identity lies in my mission: I help people have a place to live and call home.

Lending in the MHC sector isn’t just about the numbers, it’s about the unique operational complexities and potential impact affordable housing can have on communities and individuals. Throughout my career, I have navigated the intricacies of MHC financing from understanding park-owned home ratios to evaluating the long-term stability of land-lease models. This expertise has allowed me to serve as a bridge between institutional capital and a critical housing segment that is often underserved by traditional lending frameworks.

How a Powerful "Yes" Started My Journey

In 1999, I walked into a mortgage banking office looking for a "job." At the time, I was a young, single mother with a high school diploma and zero knowledge of the industry. I was hired as an administrative assistant, but what I didn't know then was that I hadn't just found a paycheck—I had found a career.

I owe an immense amount of credit to the leader who hired me. He didn't just see an assistant; he saw potential. By placing his faith and trust in me, he opened doors I didn't know existed. Within a few years, I transitioned from admin to transaction specialist, then closing specialist, eventually earning the title of Assistant Vice President. That initial opportunity changed the trajectory of my life, leading me to pursue a Finance degree with a real estate focus—a path I never would have chosen had I not taken that first leap into the unknown.

Learning That Strength is Not a Solo Act

Over my 27-year career, I have navigated significant professional and personal milestones—getting married, raising children, transitioning into Originations in 2007, and obtaining a college degree in 2012. Early on, I fell into the trap of thinking I had to do it all on my own. I felt the pressure to be the "perfect" mother, wife, student and employee, fearing that asking for help was a sign of weakness.

In reality, I discovered that building a strong team around me was the ultimate sign of strength. Being supported by the right team and the right company at Capital One is how I have not only survived – but thrived. Confidence doesn't come from knowing every answer. Confidence comes from knowing you have the resources and the people to find the solution. Whether at home or in the middle of a complex transaction, the right support system changes the odds in your favor.

The Mission Behind the Manufactured Home Communities Niche

Today, as Vice President of Originations at Capital One in Birmingham, Alabama, I specialize in a unique and vital corner of the Commercial Real Estate world: Manufactured Home Communities. While traditional multifamily housing is essential, MHC offers something distinct—the ability for tenants to own their own home and live in a neighborhood setting.

The flexibility of the MHC model is what makes it so impactful for both owners and residents. There are various operational structures within the industry:

• Rental communities: The park owns both the home sites and the homes, renting them as a package

• Land leases: The park owns the sites, but the tenants own the homes and pay monthly rent for the home site

• Financed ownership: The park offers internal financing to help tenants purchase their homes over time

• Hybrid models: A combination of single-wide, multi-wide, modular homes, and RV spaces to fit most budget ranges for tenants

Most of these communities are more than just a place to park a home; they offer amenities like pools, clubhouses, pickleball courts, and nature trails that foster a true sense of community.

Advocacy in a Complex Market

Lending in the MHC space is rarely a "one-size-fits-all" endeavor. One of my greatest challenges is fitting a highly tailored, unique product type into a standard fixed lending box. This is where experience and deep-rooted relationships matter most.

Since 1999, I have worked with the same core team. Together, we worked with Fannie Mae and Freddie Mac during the very inception of their MHC lending programs. We maintain constant communication with these Agencies to stay ahead of industry shifts. This longevity allows me to be a true advocate for my clients, helping them secure the debt financing they need to provide affordable housing for families and seniors nationwide.

Overcoming the "No"

Despite the passion and experience I bring to the table, this business comes with its share of rejection. It hurts, and it can occasionally cause doubt. But whenever I face a "no," I ground myself in my mission: I help people have a place to live and call home.

For those of us in the CREW Network, our work is about more than square footage or interest rates. It is about the impact we leave on the communities we serve and the teams we build along the way. By embracing flexibility, seeking out mentors, and building a "perfect" team of our own, we can overcome any challenge the industry throws at us.