Video 1: How to find deals as a business loan broker. How to start a finance company.

Video 1: How to find deals as a business loan broker. How to start a finance company.



thanks guys and girls for joining me here on video 2 for learning more about what it takes to get started for owning your own finance company the sheer fact that you started watching the second video proves that you're ready for a positive change in your life and your career if you didn't watch video 1 make sure you go back and watch it as I talked quite a bit about the lucrative Commission's you can earn as a business loan broker the need in the marketplace for business loan brokers the low startup cost for this type of business and who the business will be a perfect fit for I also told you the main three components of learning the business how to find deals how to package a deal to present to the bank's knowing what banks to present to for a final approval before I get started on the best way to find deals to broker I wanted to show you two things I wanted to let you know that I'm holding the first copy of my book business loan brokering 101 the number one business loan brokering startup guide that is now available on Amazon I have it on Amazon for $39 but if you stick around I'll have a special offer to receive the book as a download at the end of this video this book allowed me to share all the inner workings of starting and owning a finance company it covers all the how to's of the three main things you need to do as a business loan broker find deals package them then send them to the correct funding source so stay tuned until the end i'll be offering up a way for you to get my book which is an all-encompassing approach to the business that will most likely change your life the second thing I wanted to show you are the types of emails you will get once you start it as a business loan broker this will require me to do some video magic and take you on the screen of my computer hey guys I'm back I worked my video magic and I'm here on my computer screen and the one reason I wanted to hijack that video for finding deals very quickly was to let you know that each day or weekly you'll you'll receive quite a few emails from funding sources that are trying to earn your business and this is one that I just received today and it was kind of intriguing to me and I thought it'd be worth sharing with you guys my tribe out there so what I as I was reading down through this the one thing that I noticed it says last year see loans calm closed an eighteen and a half million dollar commercial construction loan let me see if I can blow my screen up here the broker who used see loans earned a ninety two thousand five hundred dollar commission so it's just the reason I thought it was worthwhile bringing up to you is just to show you what kind of money you can make I'm not saying that all your deals are going to be this way a matter of fact I'm going to tell you that they're not and please read my earnings disclaimer but it does show you that there's a big market for funding sources to try to earn your business as a business loan broker and the fees that urine are really tremendous now beyond that something else that I ran across this week and I'm gonna take you that I had an email sent from these guys and these guys actually teach you how to become a business loan broker now that's what I'm doing here as well so it's kind of odd for me to take you on one of my competitors sites but I don't know if you want to do this it's au n– denis but here's where it's kind of interesting to me and why i want it they're charging sixty five thousand dollars to teach you to become a business loan broker and i don't know i don't know what they're what they're doing at sixty five thousand dollars i think that you do fly out i believe it's somewhere in new york looks like they have six spots available from May 23rd to May 29th of this year and I believe this elite platinum program they also provide you with leads weekly leads or monthly leads and you have to read through it if you want to I can send you a link to it I'm not recommending the program I'm just showing you what kind of business this can be if they're able to charge sixty five thousand dollars for a program that I'm teaching you right now and it could be above and beyond I can tell you that I was very successful in the business it could be above and beyond what I'm showing you but I think of what they're doing here is providing a lead generation part of the business so that you learn becoming a business loan broker and then you wake up and each day there's leads in your inbox so I'm not sure what the value is I'm gonna show you when I go back to my video how I used to get business I think is still a very solid way to get business I spent the whole year 2015 as a consultant for a start-up we were very successful in the way that I'm going to show you I don't think you have to spend $65,000 if you do do it don't don't take mine as a recommendation but get back to me and let me know how it was I don't know that I could ever see fit to spend that kind of money on I did at one point in time spent $10,000 on training and this was before the internet was as prominent with funding sources as it is today this would have been in the early 2000s where I had already started my business loan brokerage and I wanted to expand my funding sources so I'm not you know these training programs even beyond mine are good for you and you're getting into a wonderful business so now I'm going to go back I'm going to show you the way that I find business and how you after you get started and you do all your housekeeping that you can start going out and finding deals the way I did it now here's a quick story related to how to find deals as a business loan broker in January 2015 I started as a consultant for a new equipment finance brokerage out of Ohio we were able to fund roughly 25 million dollars in equipment leases by the end of 2015 the reason I think is important to tell you this is because roughly 15 million of that business was generated through one relationship we were able to establish with a crane distributor in fact we became a very important asset to their business this crane distributor informed us that the one of their manufacturers called them in to see how and why they were selling more than most of their other equipment dealers and the response was because they partner with us and we were providing finance programs that made sense to many of the rental companies they sold – my point is is because we were able to establish this one relationship we were introduced into possibly 15 or 20 large deals in just one year we didn't win them all but it made our sales pipeline much more robust and contributed to much of our first year success in this video I want to cover the easiest way to build a business as a business loan broker is the way I built my business and uses what I call an annuity approach to the business before I get started I want to let you know that there are many ways to find deals and many ways to market your business beyond this approach I'm going to teach you today if you have a talent or flair for any marketing that I do not talk about here you should try it the reason I teach this approach is because this is what worked best for me this doesn't mean is the only way okay let's say it's day two or day three for your new start as a business loan broker you have your office all set up a name for your business a logo and many of the housekeeping items you needed to get done to get started you now need to go start finding businesses to fund and fill your pipeline the beauty of the business is there is always a need in the marketplace for equipment financing or commercial real estate finding financing just on my way to work I started looking at opportunities that might be available to me as a business loan broker I passed an auto body shop and there's a good chance they could use either an updated frame machine or a paint booth I passed the volunteer fire hall there's a good chance they want a new fire truck I pass multiple apartment buildings all financed or looking to get refinanced I actually passed the Country Club that I've refinanced about 10 years ago for about 1.7 million dollars and while I didn't charge him my normal 1% fee I did let them waive my membership fees for two years and live what would have been a seventeen thousand dollar fee now you might think that I'm going to recommend going door to door or canvas for business to these various businesses but I do not recommend this in fact the business in fact the way you should build a solid business as a business loan broker is to multiply all your efforts ten twenty even a hundredfold through what I call an annuity approach to the business you don't want to call on the body shop to see if he wants to finance a new paint booth but you do want to find out who selling the paint booths in your area and that is who you want to create a relationship with set up a lunch or a dinner take him or her out to play golf go to a sporting event with them make sure that you are their go-to guy or girl when they have a customer who wants financing let them know that by the sheer fact of offering finance as an option on every deal they will sell more equipment or or will be better positioned to beat their competition and deals by offering financing in time strike up relationship with their sales manager see if you can get all the sales people in their dealership or distributorship to refer business to you your ability to become known as their finance partner is easier than you think in the commercial real estate markets calling commercial real estate salespeople who can send you two or three deals a year or more their entire success depends on their customers ability to get financing you can also call on property managers who interface with real estate investors and who have relationships with investors that they manage daily they can introduce you to many investors who need financing for apartment buildings or strip malls or office buildings or other types of commercial real estate start scheduling lunches with chol commercial bankers they will become a great source for turning over leads when their bank declines credit for one of their customers you can in turn fund some deals through them to make it a win-win situation for bankers who refer business to you in the real world real in the real world it's very common to find deals quickly when you're first introduced to these various lead sources when you're having lunch with an equipment salesperson it is common for them to say something like oh yeah I'm working on a deal right now for a guy who wants to finance a backhoe or computer equipment let me check with him and see where he is with it sometimes two or three deals will come to mind this is very common occurrence as a business loan broker when you build a network of lead sources the business becomes much easier you can see what kind of business you can build very easily by doing the metrics let's say you have relationships with two or three commercial real estate agents who send you three deals a year each the average small commercial real estate deal is 1.6 million dollars according to the national Association of Realtors you will almost always earn a 1% fee on these deals so three real estate sales people sending you three deals each each each year and earning 1% on an average funding of 1.6 million dollars you can see that the fees add up quickly with this annuity approach to the business in our example if you fund at all 9 deals at 1% and with an average ticket of 1.6 million dollars your fees for those 3 relationships will amount to 144,000 dollars in the annual earnings and that is with establishing relationships with only 3 sales people let's say your average paint booth sales guy sends you 3 deals a year for $50,000 each you're able to earn 5 points on each deal which is an unusual and small ticket equipment finance transaction that one relationship could earn you $7,500 over a year the beautiful thing about it is is that for most deals under $75,000 all you're doing is getting a credit application and affording it on to one of your many bank relationships really there's no work involved but packaging a deal is covered in in one of the next videos and I don't want to get ahead of myself my point is that the business becomes easy when you establish relationships with the correct sales people the more relationships you have the more money you make as proof as proof of my concept remember my story about the crane dealership one relationship alone provided a very large part of our overall success in our first year the impact you can have on an equipment dealership or commercial real estate salesperson in increasing his or her business is dramatic if you establish these relationships after a few weeks or months of creating these relationships you should start receiving phone calls and getting emails alerting you to deals on the radar or that they need a finance proposal on this is the best way to establish a solid foundation in this business so as mentioned earlier in this video you can do other types of marketing in this business but there's a tried-and-true technique for owning a successful finance company you can use some of the newer on-like tactics connect to more of these important strategic partners but it should be your goal from day one as it will provide awesome rewards now let's say you spend a couple of days and meet with a few salespeople and your first deal comes in you'll need you'll need to know how to interface and what questions you'll need to ask the customer who is referred to you this is what I'm going to cover in the next video basically what to do when you find a deal how to package it for your funding source make sure you check in make sure you check it out if you have any questions about what I cover today please leave a comment below and I'll answer it to the best of my ability oh and by the way this is going to change your life just stick with it and make sure you watch the next video hey guys I'm back I'm sorry I almost forgot I told you that I was going to give you a special offer on this book that I just published on Amazon business loan broker in 101 the number one business loan brokering startup guide I've been kicking around a lot of different ideas as I told you earlier in the video and by the way thank you for watching that video I think you're on your way into a new exciting life of business loan brokering as mentioned throughout the most of my materials it is the lowest cost business that I ever started and actually had the highest returns and I've I started a number of businesses but as far as a special offer what I was kicking around a lot of different ideas as mentioned it was a it's available on Amazon for $39 but to kick the offer off I was thinking of a number of different things I was thinking of maybe doing it half price and then I was thinking maybe even go down to $9.99 but what I want to do just to get some traction with the book is anyone who puts in their name and email down below I'm going to give a free copy through the month of May 2016 and give you a free copy of it so it's a thirty nine dollar value right off the bat the only thing that I asked you in return is that you leave a comment or ask me a question or just let me know what you think of the book that's kind of what my payment is for for writing the book and kind of turning onto this new exciting business so that's all I ask so through the month of May 2016 you can download the book by entering your email and your name below absolutely free so I appreciate it you

26 thoughts on “Video 1: How to find deals as a business loan broker. How to start a finance company.

  1. I am looking forward to your other videos and mentoring program. I also am very excited to read your book! Where do I download it? Thank you!

  2. Hi Buz, thank you for the videos. I have been looking to start this kind of business for years and now I am taking action. I know that the book offer is old but i would love to get a copy.
    [email protected]

  3. If I need a license for a mortgage loan originator, is that the same as a commercial building / land loan broker? Loans for investors per se

    Great info by the way. I'm coming from a background in sales with 3 yrs off from working. Your approach about building a relationship is spot on. Thats how I made $35k in 5 months in 2015 before I got injured. That approach works.

  4. Funny you mentioned Cloans.com, by accident I found their website. I was wondering, do you have to be a mortgage broker or real estate agent? Sorry if this makes no sense, new to all this. Great video 🙂

  5. [email protected] my boss owens stone mountain funding and i work under a different companies name (stone mountain leasing) but I'm interested in what he does and how i can help so well appreciate the book and let you know about it or if we have questions
    thanks Stone Mountain team

  6. Good eveing Sir

    your loan brokering Video is great content I know May 2016 has come and gone however
    would you find it in your heart to email me the business loan brokering 101 to
    me at [email protected] Louis thank you

  7. I know that I'm too late for the free book but I'm looking to get started in this business, I've started my website at www.loanbrokers.net and I'm looking for any and all guidance on getting this ball rolling. email is [email protected] thanks again for your videos!!

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