Deal Bin instead of ISO question?
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  1. #1
    Noob Reputation points: 10 Nobo Dy's Avatar
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    Deal Bin instead of ISO question?

    As a new fool to MCA and still not sure where I fit in but learning everything I can, first I thank this site, the folks running it and the members who, from what I have been reading in the various forums and threads, have participated constructively. There are lots of supportive, advisory and professional members who have contributed their experience, expertise, and knowledge of the industry. I am really impressed and there is lots to learn. Thank you! I would certainly tell anyone looking to know anything or learn more about the business to come here to Daily Funder and look and listen to the folks doing it every day.

    That being said... My question is that having now opened a few portals to send deals to with a few direct lenders and a few brokers and then joining Daily Funder and seeing the likes of DEAL BIN, couldn't I get the best for my client going to DEAL BIN? It would appear that funders want any good deal they can get, duh, they make easy money off good deals, and there seem to be plenty of funders right here, just saying. Isn't it just a 1099 sent to accounting to get paid?

    Portals or deal bin?
    Thanks

  2. #2
    Senior Member Reputation points: 54989
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    I think deal bin is were users come to ask questions about specific files they may come across.
    Marcus Clapman | Business Development | Cresthill Capital
    (High Commissions Payout Group)
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    Tel: 917-521-6528 | Fax: 212.671.1473
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    http://www.cresthillcapital.com

  3. #3
    Veteran Reputation points: 159120 J.Celifarco's Avatar
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    no because you will never build the relationships with banks that you need to survive in this industry.. The deal bin is for deals thats you cant get done with your own banks
    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

  4. #4
    Noob Reputation points: 10 Nobo Dy's Avatar
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    Thank you, makes sense.
    Really want to help a client and can't get the deal done kind of place.
    This business, like most, is all about relationships along the way of the deal.

  5. #5
    Quote Originally Posted by Nobo Dy View Post
    Thank you, makes sense.
    Really want to help a client and can't get the deal done kind of place.
    This business, like most, is all about relationships along the way of the deal.
    It can be frustrating to place people at times, yes. Let me know if there's anything I can do to help!

  6. #6
    Senior Member Reputation points: 23085
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    Quote Originally Posted by Nobo Dy View Post
    As a new fool to MCA and still not sure where I fit in but learning everything I can, first I thank this site, the folks running it and the members who, from what I have been reading in the various forums and threads, have participated constructively. There are lots of supportive, advisory and professional members who have contributed their experience, expertise, and knowledge of the industry. I am really impressed and there is lots to learn. Thank you! I would certainly tell anyone looking to know anything or learn more about the business to come here to Daily Funder and look and listen to the folks doing it every day.

    That being said... My question is that having now opened a few portals to send deals to with a few direct lenders and a few brokers and then joining Daily Funder and seeing the likes of DEAL BIN, couldn't I get the best for my client going to DEAL BIN? It would appear that funders want any good deal they can get, duh, they make easy money off good deals, and there seem to be plenty of funders right here, just saying. Isn't it just a 1099 sent to accounting to get paid?

    Portals or deal bin?
    Thanks

    Welcome to the DF, as a long time member and full time operator I would STRONGLY advise picking your niche in this space and learning the products & UW criteria of the lenders that fund that niche and build the relationship with said lenders. Your niche will give you the edge to service that space, start with industries you have a strong background knowledge of so you can relate to the merchants needs better.

    Good luck and happy hunting!

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