ATTN: LOAN OFFICERS - Posted by NewKidOnTheBlock

Posted by timeinvestor on October 19, 2003 at 13:57:23:

An answer to this will not make sense yet. You’ve got to learn the business before this step is handled. Once you go through a few months at a Broker shop, you won’t even need to ask. Sorry if this sounds rude, that’s not my intention.

ATTN: LOAN OFFICERS - Posted by NewKidOnTheBlock

Posted by NewKidOnTheBlock on October 18, 2003 at 09:10:05:

I’m a part-time real estate investor, and I’ve been offered an opportunity to become a commission-only Loan Officer. I’m thinking about accepting the offer because real estate investing and financing go hand-and-hand. Also I figure this is a way to produce by own business cards and “Proof of Funds” letter on letterhead if I decide to deal with Real Estate Agents, right? How have your experience been trying to juggle both, and how do I find subprime borrowers? Any advice or words of wisdom?

Thanks for responding.

NewKidOnTheBlock
St. Louis, Missouri

Re: ATTN: LOAN OFFICERS - Posted by timeinvestor

Posted by timeinvestor on October 19, 2003 at 12:54:13:

Between LeGrand’s Cash Flow Systems courses and 10 years as a creative Mortgage Broker, I feel absolutely unstoppable. I say do it!

Re: ATTN: LOAN OFFICERS - Posted by James Strange

Posted by James Strange on October 18, 2003 at 22:00:42:

It is a good idea. Just stay away from the MLM mortgage companies.

Re: ATTN: LOAN OFFICERS - Posted by rm

Posted by rm on October 18, 2003 at 15:13:15:

As an additional step, I would suggest that you specialize in financing for investors.

Then, you’ll have people you can flip to, you’ll know who the rehabbers are, you’ll know who’s looking for rentals AND when you find private investors who have $$$, you’ll have a ready market to place those funds.

Furthermore, you’ll have an absolute command of what products work for specific investing situations.

Go get 'em.

Re: ATTN: LOAN OFFICERS - Posted by Dimpil

Posted by Dimpil on October 18, 2003 at 12:04:43:

So far great. You can learn a lot.

Re: ATTN: LOAN OFFICERS - Posted by NewKidOnTheBlock

Posted by NewKidOnTheBlock on October 19, 2003 at 13:50:43:

Timeinvestor,

Since you have been doing this for 10 years, can you please explain to me how to find subprime leads, or should I only focus on helping real estate investors with their financing for flips and lease options? How do you work your schedule to have time to juggle both careers?

Thanks for responding to my post.

NewKidOnTheBlock