Got offered $500.00 to refer people for mortgages.

[Golddoor]

A friend who owns his own mortgage company told me he would pay for referals for mortgages. Any ideas on who to contact other than people I know? How about realtors? Would that be a good source? How can I get in with some of them?

 

[ZKaudio]

... only reason he's offering you 500 is because they are worth way more than that to him... if you have a college degree, getting your brokers license is next to a joke... if you are getting leads on a regular basis it might be worth your while... become an appraiser as well while you're at it.

 

[MattTheSkywalker]

You could offer your friends $250 to refer leads to you.

 

[plrpower]

I worked as a mortagage lead generator. ahah good luck finding people who want a mortage outside their bank or a huge named place. I didnt do very well good luck to you though

 

[jnevin]

If you market realtors, you should be doing the loans for them. It isn't easy to build trust with those fuckers and you have to constantly be around them asking for business, sitting with them at open houses, wasting your fucking time in general. If you keep at it, business starts rolling in, and the fact that they can count on you to get their loans done is really all you need. This isn't the best time for someone to get into mortgages without any experience, IMO.

 

[ZKaudio]

i tell you what you do... you open an upscale clothing boutique and then u sell all clothes to the female agents at cost in turn for them giving you 100% leads... even if the store just makes its money back... you still come up big. Someone in town here does that and it works AMAZINGLY... clothes have an insane effect over females.

 

[Razorguns]

start a website. ditech.com is making bank.

 

[MattTheSkywalker]

Do any of you understand that any lead-based business in inherently inefficient and will ultimately be consolidated through market forces? If I had time I would do it myself.

Just curious, because more and more people are entering these types of jobs.

I don't get it.

 

[jnevin]

Do any of you understand that any lead-based business in inherently inefficient and will ultimately be consolidated through market forces? If I had time I would do it myself.

Just curious, because more and more people are entering these types of jobs.

I don't get it.

People have made a lot of money doing this recently without having to put much effort into it. I can understand why people would be interested seeing how well some LO's do. It took me 3 years of busting my ass, dumbing it down for realtors, and doing shit loans until I had steady business and good income. Wasn't until last year that I really started to make money. I do not recommend getting into this now. Refi's are done, purchase business isn't easy to get. Become an artist. Listen to MTS.

 

[MattTheSkywalker]

People have made a lot of money doing this recently without having to put much effort into it. I can understand why people would be interested seeing how well some LO's do. It took me 3 years of busting my ass, dumbing it down for realtors, and doing shit loans until I had steady business and good income. Wasn't until last year that I really started to make money. I do not recommend getting into this now. Refi's are done, purchase business isn't easy to get. Become an artist. Listen to MTS.

LOL @ "dumbing it down for realtors". Awesome.

I am starting a construction business with the Emperor. We're going to do residential stuff first; one high end custom home per year at first.

When the mortgage market gets even shittier, I am going to try and roll up as many independent brokerages as I can. Realtors too..I think they can be consolidated on the cheap and as the market progresses through a cycle, haev serious market share.

I didn't want to touch this but the opportunities are too good.