A letter to all the Mortgage Brokers out there - From Monty, owner of this website

[Admin]

Hi Friends!

I hope you are all doing well this summer. COVID has definitely affected business but many lenders are still lending right now.

I own the Real Estate Finance Website. I started in this business many, many years ago back in the 1990's. I made good money with a large subprime lender, then became a Broker. Over the years I have brokered literally hundreds if not thousands of transactions. At one point I even ran my own hard money firm as a direct lender with a group of Seattle Investors backing my loans. I did 6 to 8 loans a month as company owner and made good money. I have been an Underwriter, a loan officer, a Broker, and of course spent time as the big boss when I was a private lender. Most of my career I have processed my own loans. All this experience has made me a pretty solid Mortgage Broker. I definitely know how to get deals done and I complete several each month.

One thing I have noticed after all these years is this: Most Mortgage Brokers know very little about the business, and even less about how to get a deal funded for their clients. That is not an insult. There are some AMAZING Mortgage Brokers out there, many on the Real Estate Finance Website. They know the business, use the same small handful of direct lenders, and treat their Investor clients like they are more valuable than gold, because they are. That being said, Nationwide there are probably less than 1 in 10 Mortgage Brokers making six figure incomes. That means 90% of you reading this are not making six figures. I am guessing of course but it is probably fairly accurate. Well, I personally am making money and I would like to help you do the same. The Brokers doing a million dollars plus a month in loans can stop reading now, you don't need me. Nice job! For everyone else, LET ME HELP YOU MAKE MORE MONEY!

I charge 2% on my loans. My new fee structure when I receive a loan from another Broker is to charge the same 2%, but give the referring Broker 40% of that fee once the loan funds. For this, I do EVERYTHING! I do ALL the work. I have the lenders and the knowledge. You just sit back and get paid. Do the math... You send me 2 deals next month at $250k each. That equals $500k. At 2% the fee is $10,000 to me. I give you $4000 of that just for referring me the loans. Again, I DO ALL THE WORK! The rest of your time is now freed up to close all the other deals, the ones you do not need help with, on your own which makes you even more money because $4000 a month is sure not going to cut it. In addition, you and I now have a business relationship so I will now answer all your questions, offer direction or advice if you need it, and try to help you make more money for yourself. There is a woman named Lisa on the Real Estate Finance Website. She got ahold of my phone number and called, left messages, texted, messaged me here on the site. She was nonstop for over a month. Single mother, recent bad divorce, about to lose her apartment, and she had failed horribly at trying to broker loans for over a year. Instead of charging her, I showed her how to market. I used one of her deals and showed her how to structure it for financing, how to submit the deal, and what lender to use. Over the last 15 days or so she has now completed 2 loans, the last one almost entirely on her own, and earned about $8000 in total commissions. All in less than 2 weeks. My point is this. I like making money, yes, but I also like helping others. If you need help getting your deals done, if you don't know who to use as a lender, or if you simply need some help getting started... lets work together to make us both more money. Never be too proud to email me and discuss a deal. Better for you to make some money, make your client happy, and maybe learn something new, than to be too proud and let the deal die because you cannot get it done yourself. Again, lets both make some money together!

I won't put my phone number here because this goes out to 25,700 people but if we are working a deal you will have it and can call or text any time. For now, just email me and lets do some deals together [e-mail]. I do all the work. You get 40% of my commission. If you are new to the business or just not a big producer, I will do what I can to help you get going so you and I can both prosper.

My name is Monty. I own this website. My funding email is [e-mail]. Send me the deals you need help with. Lets both get paid.

Monty

* A few things that I focus on each day: 

Marketing - This is how you get the deals in the first place

Ethics - Treat your clients good, be honest with lenders, and treat your friends and family even better. Honesty matters!

Effort - Give each deal 100% of your effort, whether it is a $50k flip or a $2 Million multifamily refinance. It all adds up!

[Brian Martinez]

I appreciate working with you on our current deal. This is the first time I have ever received an approval in less than a week. Lets keep it going brother!

Brian

[Shaun Tollman]

Good post. I appreciate your insight and offer to help other brokers.