The last time I posted, I introduced what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?
In my last post, I also introduced my preforeclosure home study course to you and also introduced the nine main subjects that it will cover. Remember, this is not loan officer training, mortgage training, or a mortgage seminar. It is simply cutting edge training that focuses on preforeclosures and short sales. Let me quickly summarize what we covered last time. In my most recent post, I had asked you to:
<!--[if !supportLists]-->1) <!--[endif]-->Make sure you have an office (makeshift if need be) set up, complete with tools like a computer with Internet access, set up a fax line, and look into an Efax account to receive incoming faxes on your computer
<!--[if !supportLists]-->2) <!--[endif]-->Interview at least one local realtor and ask if they have experience working with real estate investing and/or real estate foreclosures
<!--[if !supportLists]-->3) <!--[endif]-->Establish a basic budget that you will have for your pre foreclosure investing business
How did you do? If you didn’t do those things, make sure you get to them right away because they are very important to your business! In addition, I want you to also look into the following tools that will help your pre foreclosure business:
<!--[if !supportLists]-->1) <!--[endif]-->Look into setting up a business website for your real estate investing pursuits ( I suggest www.getyourinvestorwebsite.com)
<!--[if !supportLists]-->2) <!--[endif]-->Explore joining a local real estate investment club (REIA). You can find a list of local clubs at http://www.nationalreia.com.
<!--[if !supportLists]-->3) <!--[endif]-->Acquire a map of your target market
<!--[if !supportLists]-->4) <!--[endif]-->Establish a business specific mailbox that has a physical address, NOT a PO Box! (e.g. the UPS Store)
<!--[if !supportLists]-->5) <!--[endif]-->Look into getting a regular notary who can formalize your paperwork with your pre foreclosure clients
<!--[if !supportLists]-->6) <!--[endif]-->Interview at least two more realtors if the first one didn’t pan out for you and start researching real estate trends for your area
Trust me when I tell you that these things are critical foundations to your business and that they will bear results, but only if you complete the above checklist! As I mentioned the last time I posted, the fact that you are in the mortgage lending business puts you at a tremendous advantage when it comes to the basics because you either a) have already done some of these things or b) have the resources and contacts to make them happen easily. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. I’d like nothing more than to help that happen for you so stay tuned, I have so much more to share with you, and all the best to you in success.
The Short Sale Expert to Mortgage Brokers
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