Results 1 to 6 of 6
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10-03-2018, 09:16 AM #1
- Join Date
- Dec 2017
- Posts
- 277
Seeking a Real Estate Lender for a Cash-Out Refinance.....
....who can offer a blanket lien on 7 condos located in South Florida with $763,000 in combined equity.
Thank you.
Michael Sla*****er
msla*****er@sla*****er.com
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10-03-2018, 10:22 AM #2
- Join Date
- Feb 2017
- Posts
- 3,433
The question with all of these files before starting is: Why can't the client walk into a bank himself?
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10-04-2018, 12:28 PM #3
Well, being that South Florida is my backyard, I am willing to do blanket loans as long as they are not owner OCC, and depeding on the location...
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10-04-2018, 03:33 PM #4Karen37aGuest
With that thinking, there would have never been Loan Originators
Loan Orginator= outside broker
Mortgage Banker, works on the inside of the bank and takes the walk-in sales ( in bound)
I had 500 Loan originators...working in my organization...we got to the client before they walked into the bank
The best brokers work outside( the bank) because they do not want a small salary or a tellers wage
They want commission 1099
** People need to start realizing that the people who are great in Financial Services do not sit in a bank waiting for the walk-in traffic...they hunt kill eat repeat
no matter how many times that inbound sales person ( bank or broker looking for 1 % leads fed to him ) dusts off his degree ( which I have ) on the wall ...he is not better than the outside sales force
I watched everyone choose sides...w/2 vs 1099 ..so I know who makes what
** For this reason, When someone asks you what you do for a living you look them dead in the eye and say " I am a salesperson" if they roll their eyes at you say ...sorry you didnt make it...then run away quick because they are going to start crying on how they couldnt stand the rejection.
Tell them to seek out a psychiatrist, self-motivation counsellor, priest or rabbiLast edited by Karen37a; 10-04-2018 at 04:02 PM.
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10-05-2018, 10:58 AM #5
- Join Date
- Apr 2018
- Posts
- 144
Some people just need help and direction. That's where you show your value. Banks are unreliable with processes as well. Let's say he goes into the bank, the banker jumps on the deal because he has little deal flow and needs a closing, days and weeks go by with in-house underwriting and gathering documents. Finally, after 45 days, the banker tells the client, "We're sorry, but our credit committee just doesn't have the appetite for this deal". That person just wasted their time and could have gone with an experienced broker from the beginning that can navigate any arising issues or place the deal in the correct place from the start.
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10-05-2018, 11:57 AM #6Karen37aGuest
And my arguement has always been and its not 100% true. If you were good at what you do why the fck would you work at the bank for a 40k- 50k-70k salary
You wouldnt
Like a Great Doctor opens up is his own practice, or a Lawyer starts his own firm ( having the ability to market and bring clients in is the difference)
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