Results 51 to 68 of 68
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08-05-2021, 04:34 PM #51
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- Jun 2021
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- miami
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- 436
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08-05-2021, 05:54 PM #52
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- Feb 2019
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- 209
As soon as you learn that funders are not your partners & honest funders still employ dishonest people, you will finally begin the MCA journey.
I love my funders. They are absolutely great but they are not perfect, just like I am not perfect. Those relationships took years upon years to build. I started at one shop, went to another, started syndicating in-house, then built my own brand. Guess what? All of this happened because I worked for someone that actually mentored me. I talk to the guy once a week. We co-broker all the time. Guess what? This is not common at all. I can't tell you how many stories I have of stealing, lying, fraud, and everything else. I learned all of this on someone else's dime.
You say you do not have time to learn in a different shop. I would say that you do not have time to grow a MLM while not knowing the ins & outs.
Oh your bank froze your account because you are MCA? What do you do?
Clawbacks for 3 deals in a row? How do make it so cash flow isn't hurt?
I can go on for days about all the problems that ONLY occur in this industry.
While it might sound like people on this thread are "hating" on you, they are all giving very good advice. I straight up have no idea how I would operate in this industry if I did not learn from someone.
NOW SBA loans. The bank actually taught me everything. They gave me training material. They set up training sessions. They let me pick their underwriter's brain. Funders aren't banks though.
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08-05-2021, 09:32 PM #53
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- Jul 2021
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- United States
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- 145
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08-05-2021, 09:38 PM #54
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- Dec 2016
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- 379
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08-05-2021, 09:43 PM #55
- Join Date
- Jul 2021
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- United States
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- 145
I, too, am not perfect. But, I am willing to learn. I just have to do it on the fly. I believe that I have also met a mentor like you have.
Only been involved for a few weeks - but, I see some of the stealing, fraud, etc you speak of . . .
All of my current Agreements do not have a claw back or charge back clause.
I have thick skin. I appreciate the legit criticisms. However - some of the peeps are keyboard warriors beating their own drums. I am listening . . .
Haven't really studied the SBA process. But - one of the peeps from this Forum that is giving me advice has that relationship. We will explore SBA further down the road.
Thanks for taking the time to reply Mista . . ." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-05-2021, 09:46 PM #56
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- Jul 2021
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- United States
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- 145
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08-05-2021, 09:47 PM #57
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08-06-2021, 03:34 PM #58
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- Jul 2021
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- United States
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Thread kinda went off track . . .
Syndication seems to be a great way to make money on your money.
I like the fact that I can put up to 50% in our deals with the Funder putting up the balance. Everyone has skin in the game and it's in all of our best interest that we bring good deals to the table . . ." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-10-2021, 08:16 PM #59
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- Jul 2021
- Location
- United States
- Posts
- 145
We are going to take a % of our net company revenues and put the cash into syndicating some of our own deals.
Totally excited about how much money can be made in the MCA should the deals be clean and the defaults minimal.
1000 Brokers writing $25k per month x 12% commission x 25% Syndicate Allotment = $750,000 per month to fund with on our part.
That specific Fund would input $9,000,000 in 12 months. Should turn the cash every 6 months, maybe 4 months.
1.49's should produce at minimum a total 25% ROI per 12 months." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-11-2021, 09:14 AM #60
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- Jun 2015
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- 3,325
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08-11-2021, 09:42 AM #61
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- Jun 2017
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- 2,049
Primerica meets MCA.... disaster all over it.
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08-11-2021, 12:50 PM #62
- Join Date
- Jul 2021
- Location
- United States
- Posts
- 145
1000 Brokers within an MLM structure is actually a very nominal projection. 80% of those will produce very little, if anything. I imagine we will have closer to 5000 Brokers by 4Q2022.
To keep track of the Brokers production of all products / services we are developing a nice CRM that ties in with our Compensation Software. On the MCA side - you are partnering with Funders that have a platform in place to help us manage the Deals. But - the CRM will do 100% of the tracking and the followup. Down the road - when the volume makes sense - we'll use API's to integrate directly with the Funders platform - that is the goal anyway." The world has always gone forward when people have dared to have crazy ideas . . . "
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08-11-2021, 12:51 PM #63
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- Jul 2021
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- United States
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- 145
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08-11-2021, 12:57 PM #64
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- Jul 2021
- Location
- United States
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- 145
Primerica produces Billions, yes with a B, in Insurance Premiums each month.
Back in the 80's I joined ALW selling Term Insurance thru a MLM structure. Art was a Georgia Boy that could sell Ice to an Eskimo. I had hundreds of Agents on my Team and made some really good money for a 20 year old boy, also from Georgia.
Through evolution over the years - Primerica was born.
I am still a licensed Insurance Agent today, but I hate selling Insurance.Last edited by cruisinman; 08-11-2021 at 01:11 PM.
" The world has always gone forward when people have dared to have crazy ideas . . . "
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08-11-2021, 01:00 PM #65
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- Jun 2017
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- 2,049
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08-11-2021, 01:11 PM #66
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- Jul 2021
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- United States
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- 145
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08-11-2021, 04:24 PM #67
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- Aug 2016
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- 831
How will you file taxes on what is coming in and going right out for being the middle man on investments? Have you spoke to any banks if they will let you bank with them?
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08-11-2021, 06:20 PM #68
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- Jul 2021
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- United States
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" The world has always gone forward when people have dared to have crazy ideas . . . "
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