Learn how to buy properties in the easiest way become a mortgage broker business

What is the easiest way to learn to buy properties? Becoming a commercial Mortgage Broker! Most people ask me what I should do, so you can buy my first commercial. It seems so simple to me ... learn the rules of the game!

So I ask, what can I obtain benefit by becoming a commercial mortgage broker?

Benefit # 1 - Development of relations with lenders

unless you have a ton of money, you will have to borrow money to buy properties. Well, what if you have a good working relationship with a lender? Do you think you'll have a better chance of getting your loan approved? Yes! And not because you are breaking some rule or receiving special treatment. It's because you have worked with that lender. You'll know exactly what types of properties that are provided and under what conditions. You'll know what criteria they are looking for and what is going to "kill an agreement." Due to their customers have different needs, you need to know different programs. For example, I have a lender that specializes in housing loans. I know that the lender has a loan program that 90% LTV for borrowers with good credit on loan amounts less than $ 1,000,000. This same program allows unlimited cash out Refinance apartment. Now I've learned about this program to help a client get an apartment building in Dallas. But do you think I could use the same program for my personal purchases? You think I have a good idea of the time involved in closing a loan with this lender?

Also as a result of working with borrowers, you will learn what the properties do not want to own! You are learning through the school of hitting, but you do not get a hit!

Benefit # 2 - Development of relations with other professionals

Imagine if you have business contacts in the evaluation of the industry, contacts with commercial developers and business contacts with the managers of the property. Do you think this will help or hurt you to buy your own portfolio? If you do not know the answer, then let me tell you, that will help you tremendously. It helps you learn how to judge the good from the bad. And these relations are not confined to his home town! You will develop a network throughout the country. The real "players" in the game's commercial property (think Donald Trump) properties in the U.S. Why? Since go where the rent is owned by ... No waiting for the property to get to their hometown.

Benefit # 3 - Earn money to buy Commercial Properties

Of course, nobody works for free. If you are providing a valuable service to customers to obtain the best financing for their projects, then you deserve a fee. Commercial mortgage brokers can earn anywhere from 0.5 to 3 points. Their fee is based on the complexity of the loan and the level of services being rendered. As an example, suppose you are helping a client get a loan for $ 1000000 for a 20-unit apartment building in Atlanta. With your help, your client is able to obtain 90% financing. His fee for this service is 2 points. At the closing, he paid $ 20,000. Not bad. Now we're going to raise the bar. You have a client who wants to buy a shopping center in Phoenix for $ 10,000,000. He has bad credit, but you can overcome this with your lender. His fee for their services is 2 points. At the close, he was paid $ 200,000! This is a nice payday! Now you can build your own portfolio of properties to their income!