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 CONTINUES to break it all down in Part 2 of this podcast - on how YOU can become one.COGOCAST PODCAST SEASON #1, EPISODE #5: MINUTE MARKERS1:28 – Why brokering for your real estate investing business?2:22 – “Brokering is another tool in the toolbelt.”3:08 – Nate Marshall, Alvin Sun: Successful broker examples.5:04 – Why get broker certified with the Lee Arnold System of Real Estate Investing6:19 – “Without leads, you have no sales…without sales…”7:15 – Working towards “reputational capital.”11:17 – Lee Arnold System & Cogo Capital…we walk you through it!12:50 – Where to start…The Nationwide Funding Tour, then Certification, and the Masters.13:56 – Master Independent Private Money Broker – Hands-on training.18:04 – Getting paid three ways on the same deal with Private Money Brokering. 21:02 – Partnering up: The Joint Venture Deal22:00 – How to qualify for 100% financing on your broker deal.23:37 – Preview of our next podcast….and a bonus blooper.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/)