Excellent advice. Would love to hear your thoughts on project financing. Some of the recent inquiries that I've received are medical center renovations, oil and gas exploration, cannabis production and building contractor working capital. I've experienced that most of these kinds of deals don't go anywhere. Has this been your experience also?
Jack thank you so much for this great video. It was very informative. I was a residential loan officer from 2006 to 2008 when the market started to go down. I lost interest in the mortgage industry and moved on to something else. I'm two classes away from obtaining my bachelor's degree in business management. I'm interested in becoming a commercial loan officer and didn't know where to start until I found this video. I would like to work for a lender to gain experience and then go out on my own. Most lenders want to hire someone with experience. I'm trying to find out where I can gain experience. In the meantime, I will follow your advice and learn as much as I can. Again thank you.
Hi, I just became a private broker lender for flips and refinance. But would like to also offer commercial and bridge loans. Do you recommend any company's I can partner this types of loan with.
Hey I recently got my real estate license but I’m also interested in getting my mortgage loan originator license too I just wanna know what are the education requirements or if there are any? Is it similar requirements to the real estate license?
This is a legal question. We are not attorneys and we would advise you speak with one. For residential lending you need a license, we think in a very large amount of states you may not need for commercial lending
We are not lawyers and we would recommend you check with one who specializes in this. But we think you maybe about to do it if you if your lending to an entity for business purposes.
Everyone is different there are some mortgage brokers who focus getting referrals from realtors, CPA's, attorneys and banks etc.. While others focus on direct and targeted marketing to the potential borrowers your trying to reach. Both work, its a question of what you want to focus on. Usually it takes a combination of things to achieve success.
We work with mortgage brokers all of the time, you may want to take a look at geltfinancial.com/mortgage-brokers-for-small-commercial-mortgages/, as well Scotsman Guide is a great resource.
We dont recommend any one book, but we do recommend reading and watching everything you can on the subject. There is a lot of free or very low cost information around and we would start there. You can do it.
While we dont give legal advise and would encourage you to check with an attorney. As long as in states where you dont need a license and its fully disclosed you maybe able to broker commercial mortgages part time. This is a great way to get into the business, make money and help people.
Hey Gelt! Great video. This is Sarthak. I am about to rollout a product for Mortgage Brokers, I had some doubts regarding the functionalities and legalities. Can you help me with that?
