“Know your worth, don’t be afraid to take risks, and continually set goals through hard work.”

-Justine Smith, Vice President and Controller of Blackburne & Sons

Blackburne & Sons Realty Capital Corporation is a family-owned hard money commercial lending company established in 1980. This Sacramento-based private lending firm fractionalizes first mortgage or bridge loans for multiple accredited investors nationwide, focusing mainly on standing commercial properties. Their diverse real estate portfolio ranges from large multi-dwelling residential complexes, funeral homes, industrial buildings, and office or retail spaces to, according to their website, “politically incorrect properties, such as gentlemen’s clubs, adult bookstores, and cannabis properties”. A refinanced potato farm stands out among their list of recent closings.

Justine Smith, Vice President and Controller for Blackburne & Sons, got into the private lending industry as a fresh college graduate, originally interviewing in 2010 for a financial analyst position. Although she successfully landed the role, this position was short-lived, and Smith transitioned into the accounting department. “I moved to Accounting, where I was a staff accountant. I then became an assistant controller, to controller, until eventually I became vice president in 2021,” recalls Smith. When asked why she still has the title of controller in her LinkedIn profile, Smith says matter-of-factly that she is that, too.

At Blackburne & Sons, Smith wears many hats, handling everything from accounting and loan servicing, preparing monthly/quarterly/annual financial reports; the loan process — supervising loan originations and applications, approving loan documents and loan approval letters; to interacting with investors and borrowers daily, all while managing her team.

“I spent a good amount of time building a team that I can trust,” says Smith. “As a manager, I trust my team to get their jobs done. I encourage them to not be afraid to ask questions. I try to be available and promote PMA, which stands for a positive mental attitude, and I try to be approachable.”

 Smith greatly credits her mentor Angela Vannucci, a former senior-level executive at Blackburne & Sons, for equipping and empowering her with many of the leadership traits and skills she has today.

“When I started in accounting, she was the person who taught me everything I knew. She taught me to pay close attention, especially to minute details, and she was always incredibly available and supportive.

“I would come to Angela with a question, and she basically would make me figure it out. She knew the answer, but she would guide me just a little bit and give me a kickstart to find answers on my own. I try to do the same thing with my team because that worked very well for me.

“She was the vice president before I was. I’ll actually be going to her wedding next month,” says Smith proudly.

When asked if Smith’s leadership style might differ from that of a man’s, she admits that she is not sure because she hasn’t directly worked for any male leadership.

“The owner is male, yes, but he lives in Indiana. We’re a very small office. There are only eight of us, and one more in Indiana. Three of the staff are male. This is the male to female ratio right now, but it hasn’t always been that way.”

Smith also says that in her 13 years at Blackburne & Sons, she has seen females in leadership roles the whole time. “I have found that, through the years, I have had more interactions with women, so I do believe there to be an increase in women in the industry in general. However, I’ve always had the opportunity to witness strong female leadership.”

On calculating the positive impacts of having women in the private lending industry, Smith says that this may not be something that can be easily quantified.

“This industry has statistically been male-dominated, but the tide is turning. I think that, in general, just having this diversity is affecting the industry in a positive way. It shows a growing respect for our intelligence and worth in the industry.”

As a caution, however, Smith believes fear to be the most dangerous trait that could derail female leaders’ careers. “Women have a deep-seated fear of rejection, of change or the unknown, of not having the same respect, or not knowing one’s self-worth. Women should take note that they are fully capable of working and competing in this field. There are now many examples of successful women to look up to in the industry.”

Offering advice to the next generation of female leaders, Smith emphasizes having courage, setting goals, and remaining positive.

“Echoing what I said earlier, knowing your worth is incredibly important. Working hard to achieve your goals and striving for you want will get you there.”

Smith also advises those in higher positions to lift their people up by mentoring and fostering a spirit of confidence and trust.

“Pass on the knowledge so that they, too, will succeed,” says Smith.