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06-21-2021, 03:09 PM #1
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Spend $20k on leads from who? You have links to companies that offer this service you speak of?
Does a funder have to broker deals? I thought brokers were the middle men between the Funder and the Merchant...??
Understanding what's a good deal and a bad deal. Is there certain mathematical formulas used to assist in ranking a deal? If so, like what? Or is it all subjective and gut feeling? Or is it a combination of both?
Syndicating... 1st lets make sure we understand what that even means..
Loan Syndication
https://www.investopedia.com/terms/l...yndication.asp
Loan syndication is the process of involving a group of lenders in funding various portions of a loan for a single borrower. Loan syndication most often occurs when a borrower requires an amount too large for a single lender to provide or when the loan is outside the scope of a lender's risk exposure levels. Thus, multiple lenders form a syndicate to provide the borrower with the requested capital.
So what you are saying for #2, is to start putting money with other peoples money and going in on deals together with other people.
So where would "I" find these other people who have been presented with deals to see if there is room for "me" to become a part of the deal?
Please share link to funders platforms.
More lingo that we need to understand. White Labeling..
White Labeling = the ability to use someone else funds but show the borrower my name as the funding entity.
This brings up a new question. Could a person start syndicating using white labeled funds? Based on my understanding of both those terms, I don't see why you couldn't. The question would be, is if it would be profitable to do? But I guess that depends on how cheap you have access to white label funds, and how good the syndicated deals that you are a part of.
https://www.lendsaas.com/
Hire Underwriters...
https://www.upwork.com/hire/underwriters/
Look like underwriters are about $75 to $115 per hour?
How many hours would you say an underwriter would need to spend on a $15/20K file?Last edited by Winning; 06-21-2021 at 03:12 PM.
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07-01-2021, 11:23 PM #2
Reputation points: 40937
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Hey, look man, not trying to be a dick here, but to even have the discussion of starting a funding company, without at least first working in the trenches for 3-5 years first, you're just not gonna have a good time. I worked in the industry as a junior underwriter, worked my ass off for several years up the ladder, being promoted as I did so, while moving across all of the top funding companies before I even considered starting my own shop. There's some experience that can only be gained through sweat equity. Being a successful funder is one of those. If you're truly interested, I would suggest starting with an entry-level position at any reputable funding shop. As someone who's owned their own funding company for 3 years now, I can tell you that nobody is your friend. Nobody will help you. Nobody will tell you what it takes to BE THEIR COMPETITION!
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