Ways for Mortgage Brokers to get more business

[Shaun Tollman]

I have been brokering loans for about 8 years. My past career was manual labor but after I had my daughter I realized that I was capable of giving her a much better life if I stepped outside my comfort zone and did something new. Well, my wife left us not long after and I struggled to build a business. My income always ended up in the $50k to $100k area which is better than it was but not close to what I want to make to provide a fantastic life for my daughter. 

Over the last couple of years I have watched and listened to the people that run this website, and I use a few other sites as well but mainly this one. I have slowly started marketing the way the "big guys" suggested. Things are changing. I had my best month ever last month. Best in 8 years! This month I have a signing today, another next Tuesday, and am hoping another loan I am working will close in about a week. Just waiting on appraisal and final approval on that one. I have never been this busy and really, I only work about 4 hours a day but it is nonstop. My income last month was what I normally make in 3 months!

Point is, I started cold calling commercial real estate agents and introducing myself, telling them how I can assist their investors. It took a couple months but I am now getting steady referrals.

What else should I be doing for new business? Can you all tell me what you do that works as you try to build a strong clientele?

Any other suggestions would be great. Making a few bucks has motivated me to really go harder and try to make much more!

Thanks in advance.

Tollman

[Monty Yeager]

[Louis Rosenberg]

I've already made my money and have a pension. I am just here to enjoy the comments and I like outspoken guys like Monty and Tollman. If I were you, or anyone that needs loans I would do everything exactly the way Monty says. C'mon people, you have this successful guy trying to help all of you make more money. Get a pen, grab some paper, take notes, learn a few things, and above all become successful. Is there anyone that does not think this guy is successful? Of course not. Let him lead you to a higher income.

Just my two cents.

Big Lou

[Monty Yeager]

REALTORS, REALTORS, REALTORS!

Look guys, I was a Mortgage Broker for several years so I have some experience in this topic. For me, I wanted to have something that nobody else has so I built this website. 9 years later, I can pretty much close as many loans as I want each month... literally. Now let's say that most people will not take the time or the effort to build a website like this since there are literally 2 online that I know of right now, at least that are big enough to make someone serious money. That being said, Shaun Tollman wants to close more loans. Where does he get them???

If I needed more loan submissions and did not own this website, I would CALL every single Commercial Real Estate Agent that practices in the state where I live. If that didn't get me as many loans as I wanted, I would start CALLING the ones in neighboring states. Do not just email them. That goes to spam and they get 5 lender emails each week, maybe 10. CALL them on the phone. Tell them 3 things you can do to help get their clients funded better than their current funding sources!

Other sources:

* Facebook Groups if you don't mind constant anti-American politics to go with your loans

* The other big, actually much bigger real estate investment site that I will not name

* Purchase Refinance Leads

* Craigslist

* Instagram

* OTHER MORTGAGE BROKERS - Most Mortgage Brokers need help finding good funding for their clients. Help them out and you will BOTH make money!

To conclude... CALL COMMERCIAL REAL ESTATE AGENTS ON THE PHONE AND TELL THEM 3 THINGS YOU WILL DO FOR THEM AND THEIR CLIENTS THAT THEIR CURRENT LENDER WILL NOT.

I have been telling people to do this for years. Only ONE PERSON actually did this. Her name is Lisa Verholtz (my old Admin) and she no longer markets. The loans just come to her from the Realtors. She made nearly $900k in 2021. I asked her what her ytd was about a month ago and she said $595k so she is making another $900k or more this year and she no longer has to market.

Guys, you only get one life. Make some money, help others, volunteer, do good deeds, talk some shit, travel, have fun, and make money. My money making tip that none of you will ever do because you are lazy: CALL REALTORS AND ASK FOR THEIR BUYERS!

[Louis Rosenberg]

Folks,

There are a lot of investors right here on this website. I am one of them. If you post your loan options like the guy that owns this site does, you will inevitably get DMs in your inbox. That and I would think Realtors since they are the ones with the active buyers.

Good luck to all!

Big Lou

[Alex Williams]

Following. Great topic for discussion Mr. Tollman. I am hoping some of the higher level brokers or lenders will respond to this with their own thoughts.

Alexander Williams

[Tina Hastings]

I worked as an EMT for many years and had planned to buy a couple investment properties and quietly retire but because of the jerks in the white house, my retirement investments are seriously disappearing. My stock is down about 30% from a year ago and I cashed in a CD last June which I had been hoping to hold to term. Because of this I am having to work again. I was able to purchase a small multifamily property a couple months ago and that cash flows pretty well but because of who or what is currently running our country into the ground I am wanting to make additional income again. I am now starting to broker loans as well but am finding there is quite a big learning curve as the lending business is complicated and very regulated. I am learning and am now ready to start offering loans. Last week I sent a text message to all of my contacts in my phone, there were about 260 of them, and told them I would be offering financing on investment properties. I received probably two dozen responses which were all very supportive with several saying when I am ready let them know what I can offer and they will consider buying through me. Maybe that is the best place to start if you have a large family or group of friends, just by letting them know how much they mean to you and that you are now going to be offering them an opportunity to purchase investment properties to help secure their financial future. I'm not a facebook or Tik Tok user (whatever that is called) so I am starting there. Once I know the business better I will also do what you are doing and start calling Realtors. That would seem to be the best way since they have the buyers!

Tina