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ezmerchantadvanc
8 Posts |
 Posted - 05/28/2008 : 2:18:26 PM
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Fellow loan officers and mortgage brokers:
If you're an LO (or any real estate professional, for that matter), the real estate market and lending environment undoubtedly has caused a tremendous dip in your earnings, particularly if your business was subprime. If you're fed up with programs being eliminated, sinking income, and lost opportunities to help your present and existing prospects, this may be the opportunity for you!
Merchant advance programs are in rapidly increasing demand, due to tightening lending standards. Business owners are now finding it impossible to obtain financing for their businesses and homes, and more are turning to merchant advances. It's easy to qualify (90% approval rate), deals fund in as little as 5 days, and there is an unlimited supply of prospects who NEED our services. Think about this: How many business owners have you had to turn down in the last few months?
This is easily a six figure opportunity, with an opportunity to earn lifetime residuals. For more information on this incredible opportunity, call 888-860-3230, or feel free to respond here with any questions you may have, and I'd be happy to answer them. You may also visit us at www.ezmerchantadvance.com.
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ezmerchantadvanc
8 Posts |
Posted - 05/30/2008 : 1:37:29 PM
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mcamp,
Thank you for the question, and I'd be happy to explain to you how this is a six figure opportunity. Here is the breakdown:
If you sell 2 merchant advances per week (which is very doable), for an average of $25,000 (this is what agents are averaging), you'd be looking at between $1200-$1500 per sale.
$1200x2= $2400/week x 52 weeks= $124,800 year
$1500x2= $3000/week x 52 weeks= $156,000 year
Keep in mind, this doesn't count your residuals. Like anything else, this is not a get rich quick scheme; however, if you're willing to work (and most LOs have proven based on the hours we've put in that we are!), there's no reason why you can't replace the income you've lost with the mortgage meltdown.
We'll train you on how to market and sell this product, which isn't very hard to do. Let's face it, how many small business owners out there need cash and cant get it from the banks right now? The answer: A LOT!
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velecico
3991 Posts |
Posted - 05/31/2008 : 03:30:20 AM
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| Never met anyone doing those numbers , been to 3 sweat shops in NYC and seen over 50 TMs pitching these , the only ones making money are the actual lenders , the factor is over 80% of the amount borrowed if you go past 9 months , 1 out 100 will make 6 figures , not by being a TM but by recruiting and selling the leads and dialers , unless you have been a TM or worked a boiler room dont even try it |
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ezmerchantadvanc
8 Posts |
Posted - 05/31/2008 : 06:16:10 AM
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Nick has made a couple of good points, though I think 1 in 100 making 6 figures might be a little low.
I agree that in an average "boiler room" they hire people off the street to jump on the phones all day and just cold call, them give them a lousy cut. I'm quite aware of this. However, I do zero telemarketing..ever. I've never done is as a mortgage broker and I don't do it now. However, I do know people who cold call heavily, and do pretty well. Like anything else, it depends on the individual.There's definitely a better and more efficient way to generate business and attract the people that actually want my product.
The second point I'd like to make is that most people who visit this are seasoned professionals, many of whom have experience marketing their own products. That experience, along with our training, will ensure they can generate their own leads without cold calling. Also, those we recruit set their own hours and work from their own home or office, and are compensating a whole lot better than the boiler room guys. They get worked like slaves and unfortunately, with the lousy splits, they get paid like it as well.
I noticed you're with Gateway Nick (very good company). Do you do merchant cash advances, or are a strictly a mortgage guy?
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velecico
3991 Posts |
Posted - 05/31/2008 : 10:25:32 AM
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I have been with Gateway 4 years , I only did the advance thing because someone was going to partner with me and run the TMs , the person was from PA , had 5 years selling Crafmatic bed and another 5 in timeshares , well she was a flake and quit after 2 weeks , I got stuck with the whole operation , I could see the potential but its really not well received , the business community sees you as predator , at least thats the reception I got when I attended 2 chamber of commerce meetings and 1 BNA did not even want us , to say the least , its like a pay day loan for a business , not very wise , if you are borrowing from future sales you are at your last rope , especially in this economy , I dont know how long you have been doing it but like I said , the money was made on us by selling the leeds and the dialer , not the actual advance , to which we got paid 8 pts , 6 on the front 2 on the pay back |
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ezmerchantadvanc
8 Posts |
Posted - 05/31/2008 : 12:36:39 PM
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Nick,
You are correct. Merchant cash advances are not for everyone. It is also true that merchant advances are not cheap money. Because of this, the industry is viewed by some members of the business community as "predatory", and I have no doubts whatsoever that there are predators out there, as there were in the mortgage business, which is why our industry is in the state it's in right now.
That said, if a business owner is properly educated (which is our job), and understands the pros and cons well enough to make an informed decision, he/she will be able to determine is the reward outweighs the risk. Remember, business owners that look for merchant advances are not those that can qualify for a bank loan; in fact, the vast majority were already turned down for traditional financing. For those who have the credit and documentation, they should no doubt go to a bank. I have turned plenty of people away for this reason. But for those who need a quick means to access capital, with no collateral, personal guarantee, or excessive paperwork, many people have found MCA's very beneficial. I just hope unscupulous people dont come in and damage an industry that is growing exponetially.
As far as yor partner, I'm sorry you were caught up in that situation. But I still insist that there is great potential in this business (I'm speaking from experience), and I'll say again to the many LOs and brokers reading this: How many self employed borrowers have you turned down because stated programs have been eliminated? You can offer these folks MCAs, make good money to do so, and help these people get the money they need to expand or even save their businesses. |
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velecico
3991 Posts |
Posted - 06/01/2008 : 02:14:29 AM
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You dont have to close me , I was just not into pitching it retail , 10 - 15K advances are not exciting , selling it wholesale I could get into it , is this your company ? |
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ezmerchantadvanc
8 Posts |
Posted - 06/01/2008 : 07:53:26 AM
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I'm not trying to close you. You're already doing it. And, as I've mentioned earlier, it's not for everyone. I agree that 15k advances aren't as glamerous as a 250K refi; however, I've been able to find other opportunities in doing these. I've gotten refis out of them, and have gotten a few commercial deals from it as well.
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velecico
3991 Posts |
Posted - 06/01/2008 : 10:58:09 AM
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I did not mean it that way , I am glad you are doing well , again , the opportunity in this product , to me , is to have the money or securitize the funds from a hedge fund that wants to tap into this market then put it out to the wholesale community and have them sell it for you , as an example , if you got the GM of sales for a media company to offer your company as source of credit for their advertising needs , you will always needs soldiers at the front line , I just dont think you will find them in the broker community |
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psantos
571 Posts |
Posted - 06/01/2008 : 1:48:22 PM
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quote:
Originally posted by velecico
I have been with Gateway 4 years , I only did the advance thing because someone was going to partner with me and run the TMs , the person was from PA , had 5 years selling Crafmatic bed and another 5 in timeshares , well she was a flake and quit after 2 weeks , I got stuck with the whole operation , I could see the potential but its really not well received , the business community sees you as predator , at least thats the reception I got when I attended 2 chamber of commerce meetings and 1 BNA did not even want us , to say the least , its like a pay day loan for a business , not very wise , if you are borrowing from future sales you are at your last rope , especially in this economy , I dont know how long you have been doing it but like I said , the money was made on us by selling the leeds and the dialer , not the actual advance , to which we got paid 8 pts , 6 on the front 2 on the pay back
Nick has some good points, and real world experience, we do know a lot of business owners, who might be interested, as we do a good amount of commercial loans.
Is there a "fee" to get on line with you guys?
Send me an e-mail offline
Paul |
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ezmerchantadvanc
8 Posts |
Posted - 06/01/2008 : 5:36:27 PM
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Psantos,
Nick does make some good points, and it's great having a dialogue with him. It's refreshing to be able to express different views among each other, while still remaining civil and professional. At the end of the day, hopefully this will benefit not only us, the posters, but others reading the site who are looking for information.
As far as a fee, absolutely not. I, personally, could never understand a person or company who charges a fee to someone that they would benefit from anyway. It's ridiculous.
Nick, you have an excellent point about wholesaling vs. retailing. It's very similar to mortgage lenders. Brokers thought we made good money on loans? Most don't know that lenders made a killing securitizing loans. I've heard numbers up to 107 in the good-ole days (on top of what they made on the HUD). I'm always looking for top investors to work with for this exact reason. We should talk offline sometime. Psantos, I will email you as well. |
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velecico
3991 Posts |
Posted - 06/01/2008 : 8:17:58 PM
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Unfortunatly I got crushed in the mortgage market the last 8 months , will not pull your chain , I could not get a burger financed , but would entertain the idea to line up investors , I saw on line a company that sells the software to code the processors for the split processing and tracks the pay back , once you have that in place I figure you would need about 120 million to start , float 10 mil a month for 6 months , figure a 6-8 % loss , that would leave you about 52 Mil on an 75% return , know any wealthy Arabs or Chinese that we can pitch to ? |
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ezmerchantadvanc
8 Posts |
Posted - 06/02/2008 : 06:12:48 AM
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Got crushed in the mortgage market huh? Obviously, your situation is not unique. In fact, that's exactly how I found this business. I did mostly subprime refis and did a lot of self-employed stated loans. When these programs and lenders went away, there was nothing I can do for these folks. It ***** out here right now for mortgage brokers, there's no doubt about that. That said, there are still ways of amking money out there.
As far as investors, I don't have any aspirations of being a direct advnace provider (even if i could!). I have just found the top providers in the market right now and partnered with them. It's working out pretty well, though you have to work a little harder now! But if you find someone to front you 120 mil, I'm in! |
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