Need a Funder or Vendor? START HERE

Results 1 to 9 of 9
  1. #1
    Senior Member Reputation points: 50583
    Join Date
    Jul 2014
    Location
    Online
    Posts
    965

    deBanked Podcast - Co-Brokering

    Really looking forward to the opinions. This is a subject that gets bashed a lot and I'm curious to see the thoughts from both sides.

    I believe the word "co-brokering" itself inhibits the person of having control and that leads to the first issue. Control over deals hits a personal button which leads to aggravation. We are so used to seeing others get burned or have been burned that we are quick to attack the person/company who is helping with the servicing and deal placement.

    The lack of understanding of how to originate properly, qualify, and knowing how to "handle" the deal makes it hard to work with people. Those who have done right in this industry for YEARS come across these people and try to help but one slandered post or negative experience leads to everyone following a wave of opinions.

    So whether you are one to co broker or one to accept deals from brokers- I would definitely listen and open your mind to learning how to be better and how it really works.
    Amanda Kingsley
    DailyFunder: WhoisKingsley
    This is me. https://www.facebook.com/whoiskingsley
    I am Here too. https://www.facebook.com/groups/TheClosersGroup

    Always Live and Lead with Integrity.

  2. #2
    Veteran Reputation points: 157541 J.Celifarco's Avatar
    Join Date
    Oct 2012
    Location
    New York
    Posts
    2,504

    Quote Originally Posted by WhoisKingsley View Post
    Really looking forward to the opinions. This is a subject that gets bashed a lot and I'm curious to see the thoughts from both sides.

    I believe the word "co-brokering" itself inhibits the person of having control and that leads to the first issue. Control over deals hits a personal button which leads to aggravation. We are so used to seeing others get burned or have been burned that we are quick to attack the person/company who is helping with the servicing and deal placement.

    The lack of understanding of how to originate properly, qualify, and knowing how to "handle" the deal makes it hard to work with people. Those who have done right in this industry for YEARS come across these people and try to help but one slandered post or negative experience leads to everyone following a wave of opinions.

    So whether you are one to co broker or one to accept deals from brokers- I would definitely listen and open your mind to learning how to be better and how it really works.
    I have a number of ISO's that submit deals through me. These relationships come down to the way they are setup. If an ISO agreement is signed laying out how the relationship will work and how commissions are paid it is no different then when an ISO signs up directly with a bank. From the first conversation I have with the ISO everything is explained in detail then the ISO agreement puts that information on paper. If this is done I dont see how these relationships can be bad. Some ISO have better bank relationships then others, by going through a bigger more experienced ISO new shops can leverage their relationships and get deals done they normally wouldn't. I have ISO's that in some cases make more going through me then they would if they would go direct to the bank. Does this make sense for established shops with good relationships already probably not, but for newer shops it is the best way to learn
    John Celifarco
    Managing Partner
    Horizon Funding Group

    3423 Ave S
    Brooklyn, NY 11234
    T: (347) 773-3990 | F: (718) 795-1990
    Linkedin: Profile
    Email: john@horizonfundinggroup.com

  3. #3
    I'd tell you my thoughts but you'll just have to wait and hear on the new podcast. http://debanked.com/2016/02/first-ev...okering-deals/

    Quote Originally Posted by WhoisKingsley View Post
    Really looking forward to the opinions. This is a subject that gets bashed a lot and I'm curious to see the thoughts from both sides.

    I believe the word "co-brokering" itself inhibits the person of having control and that leads to the first issue. Control over deals hits a personal button which leads to aggravation. We are so used to seeing others get burned or have been burned that we are quick to attack the person/company who is helping with the servicing and deal placement.

    The lack of understanding of how to originate properly, qualify, and knowing how to "handle" the deal makes it hard to work with people. Those who have done right in this industry for YEARS come across these people and try to help but one slandered post or negative experience leads to everyone following a wave of opinions.

    So whether you are one to co broker or one to accept deals from brokers- I would definitely listen and open your mind to learning how to be better and how it really works.

  4. #4
    Banned Reputation points: 17587
    Join Date
    Sep 2014
    Posts
    720

    deBanked Podcast - Co-Brokering

    are you pro-stacking?

  5. #5
    Senior Member Reputation points: 10944
    Join Date
    Oct 2013
    Location
    New York, NY
    Posts
    1,203

    Quote Originally Posted by anonymous View Post
    are you pro-stacking?
    Im pro money as long as my methods don't endanger a clients well being or prosperity and don't get me sued or in trouble with other funder then live and let fund.

  6. #6
    Senior Member Reputation points: 301165
    Join Date
    Jun 2015
    Posts
    3,313

    Quote Originally Posted by WhoisKingsley View Post
    Really looking forward to the opinions. This is a subject that gets bashed a lot and I'm curious to see the thoughts from both sides.

    I believe the word "co-brokering" itself inhibits the person of having control and that leads to the first issue. Control over deals hits a personal button which leads to aggravation. We are so used to seeing others get burned or have been burned that we are quick to attack the person/company who is helping with the servicing and deal placement.

    The lack of understanding of how to originate properly, qualify, and knowing how to "handle" the deal makes it hard to work with people. Those who have done right in this industry for YEARS come across these people and try to help but one slandered post or negative experience leads to everyone following a wave of opinions.

    So whether you are one to co broker or one to accept deals from brokers- I would definitely listen and open your mind to learning how to be better and how it really works.
    so i have had brookers send me deals to co broker and i do it the same as john . With people in the industry i learnt 3 things . 1. they will screw you if the lender is first contract in .
    2. they scammed lenders or are criminals and are black listed so trying to do it through me 3.they know merchant will default and don't want in their name .

    i have never tried sending to another iso as there was no need .

  7. #7
    Senior Member Reputation points: 7162 TheShitzuofMCA's Avatar
    Join Date
    Sep 2015
    Location
    Miami, FL.
    Posts
    338

    Stacking is like abortions no one likes to do it but its nice to have the option.

  8. #8
    Senior Member Reputation points: 8656
    Join Date
    May 2015
    Location
    NYC
    Posts
    197

    Quote Originally Posted by The****zuofMCA View Post
    Stacking is like abortions no one likes to do it but its nice to have the option.
    Tommy Stein

  9. #9
    Banned Reputation points: 17587
    Join Date
    Sep 2014
    Posts
    720

    thought it was live, with all listening in real time and got really excited. pre-recorded/edited, eh...

    ...and for some reason I thought it was on the subject of stacking rather than co-brokering. must have been a rough day for me...
    Last edited by anonymous; 02-18-2016 at 01:17 PM.

Similar Threads

  1. Debanked Jan/Feb 2016
    By cardinalequity in forum Merchant Cash Advance
    Replies: 0
    Last Post: 02-08-2016, 03:08 PM
  2. New Debanked magazine!
    By CO1 in forum Deal Bin
    Replies: 9
    Last Post: 12-09-2015, 08:38 PM
  3. New Debanked magazine
    By isaacdstern in forum Merchant Cash Advance
    Replies: 8
    Last Post: 08-13-2015, 04:50 PM
  4. Co-brokering Scumbags
    By Jstarr in forum Merchant Cash Advance
    Replies: 12
    Last Post: 05-26-2015, 10:35 AM
  5. Co-brokering deals - funding app
    By JMKFunding in forum Merchant Cash Advance
    Replies: 4
    Last Post: 03-03-2015, 04:12 PM


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY