| Author |
Previous Topic | Next Topic |
|
chrisjonesloans
160 Posts |
 Posted - 04/28/2008 : 5:52:00 PM
|
| What do you think is the best way to market small balance commercial. I do all my business through referrals. I have been giving thought to opening a small office and was wondering if anyone had any constructive advice on marketing for small balance. Direct mail, cold calling, leads, or marketing lists? Has anyone had success with any of these. I would also be open to lead companies if they have good referrals. |
|
Matt W.
1775 Posts |
Posted - 04/28/2008 : 8:33:19 PM
|
Hit the local bankers and credit unions...One lunch or sit down with 5 will get you 1 deal! I bet my AE just that this month and he proved me right!
Bankers and credit unions don't know what to do with a stated income small balance ($100k+) loans and you can be the expert. Start "helping" your banker buddy say NO to their turndowns and know that his customer will keep banking with them. We don't want their bank business, we just want the mortgage. That way, it's a referral for the banker, a mortgage origination for you and you both retain the client and earn more referrals!
|
|
|
KHufford
4417 Posts |
Posted - 04/28/2008 : 8:44:21 PM
|
quote:
Originally posted by Matt W.
Hit the local bankers and credit unions...One lunch or sit down with 5 will get you 1 deal! I bet my AE just that this month and he proved me right!
Bankers and credit unions don't know what to do with a stated income small balance ($100k+) loans and you can be the expert. Start "helping" your banker buddy say NO to their turndowns and know that his customer will keep banking with them. We don't want their bank business, we just want the mortgage. That way, it's a referral for the banker, a mortgage origination for you and you both retain the client and earn more referrals!
Spoken like a true Interbay Journey man! Good advice however...They offer lots in the way of marketing materials for their brokers customizeable to your company, does MetWest offer this stuff too?
|
|
|
PinnaclePeters
962 Posts |
Posted - 04/29/2008 : 05:51:21 AM
|
New World Commercial also has some decent marketing materials on their website.
http://www.nwclender.com/mortgage-brokers.php#material
Help yourself...then send me the loan.
|
|
|
mortgagemessiah
7458 Posts |
Posted - 04/29/2008 : 06:25:40 AM
|
| I've heard horror stories about Met-West |
|
|
brandie
2997 Posts |
Posted - 04/29/2008 : 08:39:42 AM
|
quote:
Originally posted by PinnaclePeters
New World Commercial also has some decent marketing materials on their website.
http://www.nwclender.com/mortgage-brokers.php#material
Help yourself...then send me the loan.
Hey Chris
I checked out that website that you mentioned. I noticed that most of the letters are stating that "no income docs required. Correct me if I am wrong, but most deals that I do require some type of income doc being schedule a or c. Even Interbay required some type of docs. |
|
|
swmsn
4185 Posts |
Posted - 04/29/2008 : 08:50:27 AM
|
Matt had some great advice. Market to your local bank, and commercial realtors.
The banks have a lot of the business. |
|
|
PinnaclePeters
962 Posts |
Posted - 04/29/2008 : 4:03:54 PM
|
quote:
Originally posted by brandie
quote:
Originally posted by PinnaclePeters
New World Commercial also has some decent marketing materials on their website.
http://www.nwclender.com/mortgage-brokers.php#material
Help yourself...then send me the loan.
Hey Chris
I checked out that website that you mentioned. I noticed that most of the letters are stating that "no income docs required. Correct me if I am wrong, but most deals that I do require some type of income doc being schedule a or c. Even Interbay required some type of docs.
I dunno...not my company. I just noticed that they had them available.
At Trilogy, we do what we call "Simple Doc", requiring only Operating Statements and Leases. No tax returns or financials, no 4506's...
We need the property income docs, but not the borrower's...
|
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
