An idea to make mucho dinero... - Posted by DanM(OR)

Posted by Michael Morrongiello on January 26, 2000 at 19:19:15:

As the financing world turns there are numerous opportunites to make money… Glad you found a nice side niche to help pay your bills while your buidling your note activities.

Best of luck

Michael Morrongiello

An idea to make mucho dinero… - Posted by DanM(OR)

Posted by DanM(OR) on January 26, 2000 at 16:50:11:

as a little side business to notes.

I work a lot with mortgage brokers beating the bushes generating leads on note deals. What’s my angle with them? I am haveing them throw me the deals that can’t close. Then I propose that the seller generate a note and sell it to me at the closing table. It’s really starting to take off.

While I am out talking to these guys they throw me hard money deals about 2 for everyone note deal. Well, I got hooked up with a “subprime non-conforming” (hard money) lender in a major metro area here in Oregon. they need 15% and 5 points. I slap on another 1-5 points for my fee. Shazaaaam! A nice little side business. I just set up a deal that will yield me $800 for about 30 minutes worth of work. Not bad. What’s the yield on that? :slight_smile:

Another hard money deal I am setting up could yield $30,000. We will see.

I just thought I would share this with you all. You might as well get paid whille you are educating these guys about notes right?

Best of luck to you and see you in Atlanta,

Dan Matejsek

Full Spectrum Funding - Posted by John Behle

Posted by John Behle on January 26, 2000 at 21:31:08:

That’s part of what I was referring to at the bootcamp related to funding. We also cover normal contentional loans and hard money loans. So, when we talk to agents, it is “Full Spectrum” as in A,B,C clear through ZZZ.

Agents like the idea of one stop shopping and having one number to call for all their financing needs. We structure multiple forms of financing to close their deals. Our “bomb squad” defuses the bombs in their closings. If they have a deal that isn’t closing, they know to call us.

Whatever form of financing we put in place results in points, fees, good yields or even consulting fees.