[Jack23]

Hi everyone! I’m new to the industry, started with an ISO on Long Island. Learned a bit & decided I could take the dive...Any tips? FYI know the basics have my go to lenders....looking for those pearls of wisdoms from the vets? Thanks.

[jfeinberg]

www.equipmentbrokerschool.com

[Nunya]

www.equipmentbrokerschool.com

Promoting your services without disclosing it's you. Nice.

[Nunya]

Hi everyone! I’m new to the industry, started with an ISO on Long Island. Learned a bit & decided I could take the dive...Any tips? FYI know the basics have my go to lenders....looking for those pearls of wisdoms from the vets? Thanks.

Don't hand out condoms at deBanked events.
Don't spam every thread talking about your micro... ahem... deals. micro deals.
If you're going to accuse a funder of backdooring, bring proof.
The guys with the hot leads don't spam forums looking to sell them. The leads sell themself.
Don't use Kobe Bryant's death as an opportunity to send out marketing emails.

[jfeinberg]

Promoting your services without disclosing it's you. Nice.

Go sign up! Here are a couple of links so you know!

https://debanked.com/2019/11/debanke...iego-is-a-hit/

https://debanked.com/2019/05/how-to-...r-broker-shop/

Mostly everyone in the industry know's it is, no need to say anything other than a link.

[Jack23]

Mr. Feinberg,

Appreciate the link, however I was looking for pearls of wisdom?

Debanked is nice, but it’s a bit basic.

[jfeinberg]

Mr. Feinberg,

Appreciate the link, however I was looking for pearls of wisdom?

Debanked is nice, but it’s a bit basic.

That was more geared towards nunya lol however I will give you some.

1. Focus on cashflow right now. Forget the great pdf's you think will be great marketing, forget looking for the easier way out. Your main goal and should be your main goal for the next few months is fund deals. Get that bank account build up.

2. After the account is built up, build a great CRM that can automate emails, texts, and anything else that can be automated.

3. Focus some of your time in the Equipment Finance & Leasing space. Same commissions, a lot less competition.

4. www.equipmentbrokerschool.com will teach you everything A to Z and you can use a lot of it for the working capital space as well!


DISCLAIMER: EQUIPMENTBROKERSCHOOL.com is my very successful equipment financing training platform. It is mine, and my business partner Will Murphy. It is ours, don't get mistaken it isn't someone elses.

[TheConfidentBroker]

Hi everyone! I’m new to the industry, started with an ISO on Long Island. Learned a bit & decided I could take the dive...Any tips? FYI know the basics have my go to lenders....looking for those pearls of wisdoms from the vets? Thanks.

Dont send deals without a MTD after the 15th

[Get It Done]

dont be a commission hero. get it on the books by any means and worry about the next one

[ddm]

Give me a ring. Willing to guide you. 15 year MCA veteran. Give me a ring.

Avi Levi*l*Funding Director
Direct: 1(786)-724-5601
35-12 SUITE 3-W 19TH AVE,
ASTORIA, NY 11105

Website:*www.MrAdvance.com"There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed."
- Ray Goforth

[mcaguru]

Mantis funds em ALL! (many within-hours after of a submission).

[Jack23]

Give me a ring. Willing to guide you. 15 year MCA veteran. Give me a ring.

Avi Levi*l*Funding Director
Direct: 1(786)-724-5601
35-12 SUITE 3-W 19TH AVE,
ASTORIA, NY 11105

Website:*www.MrAdvance.com"There are two types of people who will tell you that you cannot make a difference in this world: those who are afraid to try and those who are afraid you will succeed."
- Ray Goforth

Avi,

Just letting you know one of your guys gave my old ISO a call & this is how the conversation went;

Mr. Advance: Send me your deals!

ISO: We are all set!

Mr. Advance: We have the best programs in industry!

ISO: I’m hanging up the phone now.

Mr. Advance: F*** you! Suck my ****! F*****!!

Thanks for the offer but if you need deals please get on the phone.

[Jack23]

Mantis funds em ALL! (many within-hours after of a submission).

The infamous Marcus.................I’m NEVER sending you a deal!

Happy New Year!

[cmarks]

Hi everyone! I’m new to the industry, started with an ISO on Long Island. Learned a bit & decided I could take the dive...Any tips? FYI know the basics have my go to lenders....looking for those pearls of wisdoms from the vets? Thanks.

What makes your 'goto' lenders your go to?
Few things i would say is treat your ISO rep or mgr with respect cause they can help you close deals, so be straight up, dont lie on every offer negotiation, tell funders when deal is dead, dont shotgun submissions and clog up funders pipeline, do network with people who could be referral sources whether it be in person or on linkedin(long game), make sure you really understand what is the best offer, and keep learning and evolving.

[TheConfidentBroker]

Here's another now that there is more comments...

Don't send deals to thirsty funders. Check linkedin - are there 30 "ISO Relations" or "Business Managers?" To the Funding Company? Odds are they're a deal data dump - they get the info on the deal and 30 days it's belongs to them. If not less. If not they just pass it through the back door.

Funders are VERY judgy about Brokers. Some treat everyone the same... like sh*t... and figure a dime a dozen instead of investing in their business development with Brokers who are innovative with their originations and customer service. They fail to ask questions but rather just want to know what your "volume" is or will be - not what you can accomplish together.

Everyone does the 2-8th positions up to 1.499 - it's all about relationships. There are thousands of "Funders" out there. Many of them are the same money - some are marked higher in their rates - some mark their fees higher to compensate.

Oh - and DONT buy lead packages. It's a lie!

[Michael I]

That was more geared towards nunya lol however I will give you some.

1. Focus on cashflow right now. Forget the great pdf's you think will be great marketing, forget looking for the easier way out. Your main goal and should be your main goal for the next few months is fund deals. Get that bank account build up.

2. After the account is built up, build a great CRM that can automate emails, texts, and anything else that can be automated.

3. Focus some of your time in the Equipment Finance & Leasing space. Same commissions, a lot less competition.

4. www.equipmentbrokerschool.com will teach you everything A to Z and you can use a lot of it for the working capital space as well!


DISCLAIMER: EQUIPMENTBROKERSCHOOL.com is my very successful equipment financing training platform. It is mine, and my business partner Will Murphy. It is ours, don't get mistaken it isn't someone elses.

Good advice here but i will sightly argue on number one .For the first 6 months just fund fund fund , dont worry about being roi positive in the beginning. The renewals will come and get your bank account rolling than

[ddm]

PM me.. Jack23 i have deals, just opening a line of communicate as this is what this forum is intended for. so "please" continue on having a great day.

We are 100% direct. I know for sure that whoever you spoke to was a while back because no one in our office would ever speak in such a way to people.

[OC Funder]

The infamous Marcus.................I’m NEVER sending you a deal!

Happy New Year!

Never say never... 10 years ago there were a lot of us that would NEVER fund a 2nd position.

My advice... assuming it's ethical/legal, don't dismiss any possible revenue. You may be targeting large construction deals but then, lo and behold, find that CC processing residuals are paying your mortgage one day.

[abfunders]

Never say never... 10 years ago there were a lot of us that would NEVER fund a 2nd position.

My advice... assuming it's ethical/legal, don't dismiss any possible revenue. You may be targeting large construction deals but then, lo and behold, find that CC processing residuals are paying your mortgage one day.

I think OC Funder is 100% right. Started out thinking I was going to be "selling cash advances," but now my biggest revenue streams are coming from real estate and lines of credit and high-risk CC processing. MCAs are fun, but as a true broker, I look as them as a tool.

Buyer Beware: If you cast your net too broadly, you'll do what I did and wallow for a year basically only learning and not focusing and at the same time making hardly any money. You will need an approach for each type of revenue income.

The best way to do that is to find the revenue stream that really makes sense for you, and to outsource and take profit-shares for whatever you don't understand... at least until you understand it! A single $200,000 real estate deal takes about 100 times the amount of man-hours as a single cash advance for $10,000, and it only pays (at best) 4 times the price. So know who you referral partners are who can do it.

Also, while on the topic, if you plan on having employees, find a structure that residual income can make sense to them. No, Bluevine does NOT pay 10 points, and a factor will NOT pay you 3% of the money advanced, and a $5mm term loan also won't pay 5 points. Come up with a structure that you can keep everyone happy, and keeps your business running and liquid.

[harvey]

best tip stay off this site and get to work

[capaxess]

best tip stay off this site and get to work

Seriously, good advice! BTW anyone know where Karen is?

[ghosthand]

Every single lead is a buyer, maybe not today, maybe not tomorrow, but if you keep in touch you WILL fund them.

[JasonBishop]

This guy definitely gets it!

[WestCoastFunding]

Hi everyone! I’m new to the industry, started with an ISO on Long Island. Learned a bit & decided I could take the dive...Any tips? FYI know the basics have my go to lenders....looking for those pearls of wisdoms from the vets? Thanks.

Always hit “reply all”

[Mynameisbob]

Jfeinberg, What CRM or platform did you use for your build-out?