Business
A private money broker is an intermediary who brings non-owner occupied real estate investor borrowers and private money lenders together. The broker’s essential function is to gather paperwork from these borrowers and oversee the loan and packaging process for submission to the lender for underwriting, approval, and funding. Upon closing, the private money broker receives an origination fee as compensation for the services provided.There are people all over the country begging for returns on their money higher than the paltry amount paid by banks for CDs and other deposits. They want to lend to smart real estate investors but don’t know how to find them.Brokers don’t need sales pitches because there are so many people in the marketplace looking for funding right now. There is no overhead, no receivables, no refunds, and no losses. This is a service that is well-accepted and revered by borrowers as well as lenders.Cogo Capital's Vice President of Broker Development Gary Myers breaks it all down.COGOCAST PODCAST SEASON #1, EPISODE #4: MINUTE MARKERS1:31 – Gary Myers: From U.S. Army Combat Medic to VP in Brokering.3:18 – Working with Lee Arnold…at a grocery store!5:13 – A competitive edge, getting into real estate investing.6:58 – Tuition paid seat to a Funding Tour…and then it begins.7:31 – Becoming a mentor with The Lee Arnold System of Real Estate Investing.8:51 – Why begin with the Funding Tour: “Many ways to skin a cat.”9:07 – “Matching the market” Market corrections, shifts, and strategy.10:02 – Brokering – ways to make money through a recession-proof strategy.10:44 – OPM – Brokering “Other People’s Money.”12:31 – Following the system – the challenges and due diligence.13:46 – Broker breakdown: Matching the money with the deal.14:50 – Vetting the deal. Is every deal going to make sense?17:45 – Get certified! Learn to broker private money.20:10 – Marketing on social media. Generating the lead.21:35 – Overcoming the fear: Why get certified and then become a Master Independent Private Money Broker.26:41 – Preview of next podcast - Private Money Brokering Part 2.Check out The Lee Arnold System of Real Estate Investing YouTube Channel: https://www.youtube.com/c/leearnoldCHECK US OUT – INVESTING MADE SIMPLE:SECURED INVESTMENT CORP: https://securedinvestmentcorp.com/COGO CAPITAL: https://cogocapital.comTHE LEE ARNOLD SYSTEM OF REAL ESTATE INVESTING: https://leearnoldsystem.comATTEND THE NATIONWIDE FUNDING TOUR: https://fundingtour.com Support the show (https://cogocapital.com/lp/cogocast/)