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  1. #26
    Quote Originally Posted by Michael I View Post
    i can tell you i had a rep that went around to other companies because they were telling him their guys were making 500k plus . i told him demand to see the 1099 on the spot. Not one company will actually show it.
    he went to one shop that pulled out a stack of all the 1099 and it was from 20k to 270k .
    and what happ In the end ?
    I happen to know a few people making in the 500k range. so I dont think its unheard of

  2. #27
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    Quote Originally Posted by MerchnatFundingSource View Post
    so you have been doing this since 2014 and havent made more than 300k ?
    genuinely asking. not being an jerk
    I was once guy who did it all. I'm talking now. Today.

    I run a small operation, work off local leads and old client referrals. I was looking to partner with someone this year (and I did for a few months)... we were killing it... then they wanted me to sign an over reaching agreement that I wasn't going for... I wouldve easily made 200k this year with them. Oh well.

    I am 100% open to working with someone who can put up the leads... I can sell and service the customer.

    No offense here... I've been up, I've been down!

  3. #28
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    Quote Originally Posted by SirFundAlot View Post
    Approx. $70k-$80k depending on your system/payout structure
    That's a pretty bold structure. If that is net profit, then I need to learn from you. For every 100k, I'd plan to keep ~25-32k after all bills are paid. Broker revenue only

  4. #29
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    Quote Originally Posted by SirFundAlot View Post
    Approx. $70k-$80k depending on your system/payout structure
    Wow you must not spend much on marketing and your reps not making that much.In April my gross was 560k with a net of 58k

  5. #30
    Quote Originally Posted by RickyR3712 View Post
    Wow you must not spend much on marketing and your reps not making that much.In April my gross was 560k with a net of 58k
    560k was gross commission brought in by your reps ?

    you were left with 58k after what expenses? Rep portion of comm split, salary, rent, lead cost ?
    Russell B.
    Fort Lauderdale FL

  6. #31
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    Quote Originally Posted by RBcapital View Post
    560k was gross commission brought in by your reps ?

    you were left with 58k after what expenses? Rep portion of comm split, salary, rent, lead cost ?
    Everything ,keep in mind I have a full marketing team ,a full time bookkeeper, monthly accounting fees ,openers ,closers ,renewal reps ,crm phone system ,processor, manager.but the main cost is leads.we are completely inbound.
    I have spoken to big funders that spend the same as me and they are running the broker shop at a loss just to bring good deals to their funding side .
    I am sure I can cut expenses but why fix what is not broken

  7. #32
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    makes sense if you are completely live leads . i do not make any money on live leads if they do not renew

  8. #33
    Quote Originally Posted by RickyR3712 View Post
    Everything ,keep in mind I have a full marketing team ,a full time bookkeeper, monthly accounting fees ,openers ,closers ,renewal reps ,crm phone system ,processor, manager.but the main cost is leads.we are completely inbound.
    I have spoken to big funders that spend the same as me and they are running the broker shop at a loss just to bring good deals to their funding side .
    I am sure I can cut expenses but why fix what is not broken
    understood.
    jc, what % of the cost would you say are your leads?
    Russell B.
    Fort Lauderdale FL

  9. #34
    Quote Originally Posted by mistamca View Post
    That's a pretty bold structure. If that is net profit, then I need to learn from you. For every 100k, I'd plan to keep ~25-32k after all bills are paid. Broker revenue only
    Simple... $125k monthly gross, payout 25% commissions to reps. ($30k or so) and approx $25k-$30k bizz expenses... been doing it for 5 years or so clean - not bragging... it does involve A LOT of hustle as we know but no crazy system, very old school style we have actually.

  10. #35
    Quote Originally Posted by RickyR3712 View Post
    Wow you must not spend much on marketing and your reps not making that much.In April my gross was 560k with a net of 58k
    How are you only keeping $58k? Sounds off- but im sure its working for you... Simple... $125k monthly gross, payout 25% commissions to reps. ($30k or so) and approx $25k-$30k bizz expenses... been doing it for 5 years or so clean - not bragging... it does involve A LOT of hustle as we know but no crazy system, very old school style we have actually.

  11. #36
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    This is DF, take everything with not a grain but a shaker of salt.

  12. #37
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    Quote Originally Posted by RBcapital View Post
    understood.
    jc, what % of the cost would you say are your leads?
    about 50%

  13. #38
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    Quote Originally Posted by SirFundAlot View Post
    Simple... $125k monthly gross, payout 25% commissions to reps. ($30k or so) and approx $25k-$30k bizz expenses... been doing it for 5 years or so clean - not bragging... it does involve A LOT of hustle as we know but no crazy system, very old school style we have actually.
    You should brag , i tries the cheap ucc having guys on dialers and was making similar numbers but then the reps kept quitting. The hustle was not worth what they were making , other shops started offering 50% and higher. That is when i switched my business plan.As all leads are inbound, i higher with salary plus bonuses and are able to pick from hundred of applicants .If someone is not performing i get them replaced in a day.
    Curious how you keep sales men making 60-70k a year or is the constant turn around ?

  14. #39
    Quote Originally Posted by RickyR3712 View Post
    You should brag , i tries the cheap ucc having guys on dialers and was making similar numbers but then the reps kept quitting. The hustle was not worth what they were making , other shops started offering 50% and higher. That is when i switched my business plan.As all leads are inbound, i higher with salary plus bonuses and are able to pick from hundred of applicants .If someone is not performing i get them replaced in a day.
    Curious how you keep sales men making 60-70k a year or is the constant turn around ?
    Yes, your way is much less stressful. My way is more stress, more profit - and $60k-$70k a year is A LOT to some people believe it or not- i find outgoing people and turn them into sales reps FULL training from bottom up- not easy keeping them engaged but been working for 5 years plus thankfully.

  15. #40
    I feel like we are about to have a Wolf of Wall Street scenario where someone is going to say 'You show me a paystub of 60k in 1 month and Ill quit my job right now and work for you". Who will be your next Donnie?

  16. #41
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    Quote Originally Posted by TheUnderwriter View Post
    I feel like we are about to have a Wolf of Wall Street scenario where someone is going to say 'You show me a paystub of 60k in 1 month and Ill quit my job right now and work for you". Who will be your next Donnie?
    The reply to Donnie will be "Sell me this deal" while waving a Blue Ribbon contract.
    Joseph
    A Brokers Nightmare
    Florida-Based

  17. #42
    Quote Originally Posted by BR-Nightmare View Post
    The reply to Donnie will be "Sell me this deal" while waving a Blue Ribbon contract.
    Even better, it would be, "Sell this deal to the merchant" (Which has a 20% PSF fee buried into it, its white labeled, and also explain to the merchant that the deal will turn into a LOC or a monthly payment after paying for 30 days)

  18. #43
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    Quote Originally Posted by SirFundAlot View Post
    Yes, your way is much less stressful. My way is more stress, more profit - and $60k-$70k a year is A LOT to some people believe it or not- i find outgoing people and turn them into sales reps FULL training from bottom up- not easy keeping them engaged but been working for 5 years plus thankfully.


    SirFundAlot is 100% the real deal, and it works because he's an old school wall street level beast, with a passion to learn and constantly improve. Then you surround yourself with people just like that.








    www.UccRadar.com

  19. #44
    Quote Originally Posted by Franklin View Post
    SirFundAlot is 100% the real deal, and it works because he's an old school wall street level beast, with a passion to learn and constantly improve. Then you surround yourself with people just like that.








    www.UccRadar.com
    Ty Franklin, always nice to hear nice things from others in this industry! lol

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