Live Training You Should See- Monthly Rental Income Without Buying Rental Homes-

We’re all always looking for new ways to generate some additional monthly income and everyone seems to be thinking its the housing market that will generate it.

I’ve personally done many fix and flips and also had multiple rentals but there always seem to be a few issues.

Unless you have a lot of funds stashed away you can not accumulate a lot of properties.
Unless you have great history and large down payments you can’t qualify to buy these without a hard funds lender and then the numbers don;t work.
Oh and who can forget the meltdown- values went way down – but monthly rentals went way up didn’t they.

So I have always been searching for a way to generate monthly rental funds without needing to actually buy properties.
For the past few months I have been researching this and found someone who has figured it out. I have gone thru his training and actually started implementing the system he has perfected.

It’s true genius so I convinced him to do a few live trainings with me but it’s he only agreed to do it for a few days

Go ahead and save your seat for one right now- I think- no- make that I know you will be impressed.
http://loanofficertips.com/airbnb

I think this is the type of information you may even want to share with friends and clients.

Have a great day
Brian Sacks

BTW- The link in the training yesterday did not work – so if you were one of the 328 who watched our live training and wanted to jump in but couldn’t I apologize
the link given at the end of the training is now working

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ARE YOU ORIGINATING BACKWARDS?

ARE YOU ORIGINATING BACKWARDS?
Let me ask you if this sounds familiar. You somehow got into the mortgage business and felt it would provide you with a way to earn a great living and have a great profession.

You took the courses and passed the tests and here you are ready to generate new loans. When you started, and to this day, you probably believe a few things to be true. Take a minute and check these off I’ll wait.

– You MUST be available 24/7/365 and always return your phone calls.
– You MUST work very hard to get referrals from Realtors and past clients since they control the business.
-You MUST have all of the programs available today and the best prices.

How are we doing so far?
I know that this was the way I viewed the business when I started 32 years and nothing has really changed for most originators.

Years ago I was fortunate to speak at an event where one of the other speakers was the famous marketer Jim Rohn. He spoke for about 90 minutes but I heard one sentence that literally made me sit up in my chair and say AHA!

He said “IF YOU WANT TO BE SUCCESSFUL SIMPLY LOOK AROUND AT WHAT EVERYONE ELSE IN YOUR BUSINESS IS DOING THE EXACT OPPOSITE”
You might even want to write that one down so you can refer back to it often. But lets’ see how this applies to our business and how you can use it to change it. I actually could and should write a book on this topic alone but let’s cover the top 3 in this article.

YOU MUST HAVE A LARGE STABLE OF REALTORS AND OTHER PROFESSIONALS IF YOU WANT TO BE SUCCESSFUL.
I remember when I first started in the business the deal was to go out to Realtor offices and builders and cold call. We were taught to feed them , be available all the time, and drop of flyers with rates and information.
The rule in our business was that Realtors and Builders as well as other professionals like accountants and attorneys controlled the buyers. If you wanted to build business than you needed to get them to refer their clients to you.

Most originators are still operating with this as the premise.
But what if you were able to simply switch the tables and get them chasing you?
I want you to stop reading for a minute and let what I am about to tell you really sink in.

YOU MUST CONTROL THE BUYER SO YOU CAN CONTROL YOUR INCOME !!!!

There is no rule or law that says buyers should call a Realtor or any other professional when they are looking for a home. In fact, calling a Realtor is actually backwards when you stop and think about it.
The first thing a buyer should do when they are looking for a home is to meet with a lender. That way they can determine what programs are best, what their comfort levels are, and what price ranges they should be targeting when they finally do meet with a REALTOR or Builder.
Your job then is to get in front of the buyers BEFORE they get to anyone else. One of the obvious groups would be people who are currently renting and ready to buy.

YOU MUST HAVE GREAT RATES AND POINTS AND ALL THE PRODUCTS TO SUCCEED.

Again, what you are doing and were taught is completely illogical. Think about what we do. We need business so we go out and start marketing. We get leads if we are successful and then we try to find the correct programs to put these people in.

BUT WHAT IF WE ONLY MARKETED TO THE PEOPLE WE KNEW MET THE CRITERIA FOR THE PROGRAMS WE ALREADY OFFER?

For example as the National Expert on working with Boomerang Buyers I am always asked “Don’t these deals take longer and aren’t they harder to work on?”
The truth is that they are easier. Step 1 is to see what programs and overlays your company has. Then only market to people who fit the criteria for the programs you offer.
FHA /VA both allow buyers to be discharged 2 years from their bankruptcy to be eligible. So go to a list broker and market only to those buyers who meet those criteria and are currently renting.
There are a number of lenders I have found and worked with that offer programs 1 day after bankruptcy. Meet with their reps and learn their programs.

ONLY MARKET TO PEOPLE YOU KNOW YOU CAN HELP BASED ON THE PROGRAMS YOU HAVE!

YOU MUST WORK LONG HOURS AND ALWAYS BE AVAILABLE.

This one is actually true if you are what I describe is a “Head of Lettuce” loan officer that is a generalist instead of being a specialist. You must be available when you don’t control the buyers and you are seen as a commodity.
But when you become a specialist people expect to meet with you during YOUR hours. They expect you to charge more because you are solving a particular problem. There is a place in business for both Walmart and Tiffanys as well as Brooks Brothers and Mens Warehouse. They have very different hours and very different expectations.

Take a minute now and design your business so that you control your business and your income so you can finally close more loans, make more money and enjoy your life.

If you are reading this before NOV 29 2017 you really should register for the

LAST EVER LIVE BOOMERANG EXPERT TRAINING SO YOU CAN SEE HOW TO FINALLY SOLVE THESE ISSUES…..
http://boomerangexpert.com/webinar/

Brian Sacks is a nationally-renowned mortgage expert who has career closing of more than 5,924 transactions for more than $1 billion. He has trained, consulted and coached, tens of thousands of loan officers and company owners over the past 31 years on how to close more loans, make more money, and still have a life.
Brian is the host of Top Originator Secrets show which can be seen weekly on Mortgage News Network and on his blog. You can get more information and grab your free report on How to Get Agents Chasing You at TopOriginatorSecrets.com and learn more about his Top Originator Mastermind Program where successful originators go to learn how to control their income and lives. Learn more at http://TopOriginatorMastermind.com/earlybird

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BLACK FRIDAY- WALMART ORIGINATORS VS. TIFFANY’S ORIGINATORS

BLACK FRIDAY- WALMART ORIGINATORS VS. TIFFANY’S ORIGINATORS
Hope you had a great holiday. We had over 20 people over yesterday for dinner. Some were not able to make it because they had to work while a few others were anxious to leave early so they could get some of the special sales available when the stores opened early.

This got me thinking about us as originators and the different business models we use to generate new business.

THERE ARE WALMART LOAN OFFICERS.
Like Walmart they compete on price. They must be available 24/7/365 like a Walmart superstore. They will and regularly do lose deals because of price because they offer nothing special.
Walmart loan officers work on Thanksgiving and must excuse themselves from dinner and other family occasions because they MUST take that call or meet that clients or go to that meeting.

THE TIFFANY LOAN OFFICERS.
Have you seen the Tiffany’s commercials and flyers for their Black Friday sales? No of course not because they don’t have one. Their employees and clients were enjoying their Holiday dinners uninterrupted.
Yes- they will be busy today but they will do way fewer transactions than a WALMART jewelry department and their prices will be 10-20 time higher.

BOTH HAVE LOYAL FOLLOWINGS BUT WAY DIFFERENT EXPECTATIONS FROM THEIR CLIENTS AND WAY DIFFERENT DEMANDS ON THEIR EMPLOYEES AND MANAGERS.
I have to confess that for my 15 years in the business I truly believed that I had to be available 24/7/365-while offering the best price and giving the best service. Sometimes I would do a deal for free just so I would not lose the relationship.
Truthfully, I did ok , not bad , not great but made a decent living.

But I was constantly exhausted and very often grumpy and mean. I figured there had to be a better way and then I set out to figure it out and I did.

IF YOU ARE AN EXPERT SPECIALIST INSTEAD OF A GENERALIST YOU WIN.
Let’s go back to our example of Tiffany’s and Walmart.
When you buy jewelry at Walmart no one will stop you and saw WOW !
When you buy jewelry at Tiffany’s people will stop you and say WOW!

Buyers are price sensitive at Walmart but not at Tiffany’s.

Tiffany’s is NOT OPEN 24/7 but many Walmart’s are.

Tiffany works on higher priced items with higher margins. Walmart works off penny’s.

NOW – Please don’t be offended – but Walmart attracts lower end buyers while Tiffany’s attracts higher value clients.

SO WHAT DOES THIS MEAN FOR ORIGINATORS?
Very simple – you have to stop hoping and actually choose which business model works best for you.
I prefer to work on higher end transactions and be more elite than worry about price.
I prefer to be sought out and known for my expertise in a niche than trying to be everything to everyone.
Now don’t misunderstand- I still do FHA – VA – CONVENTIONAL and even Bond and grant programs. But I don’t compete on price.

Just yesterday I lost a deal because my price was an 1/8th higher. Now that might have upset me many years ago and losing a sweet 20% down easy 200,000 conventional loan might upset you.

But if you KNOW that you have more business coming in than you can handle because you are a sought after expert- the OBVIOUS GO TO EXPERT- well that takes the sting out of it doesn’t?

So here’s a formula for you :
Pick a Niche
Become The Expert
Let Everyone Know YOU are the OBVIOUS GO TO EXPERT

Happy Holidays
Brian Sacks
IF you are not yet a member of the Boomerang Expert Implementation Program you should grab a seat for what may be the final LIVE TRAINING for this program.
http://boomerangexpert.com/webinar/

If you are a serious originator and curious about how to finally control your production – you should get on my early bird notification program for the
TOP ORIGINATOR MASTERMIND- I put together a short video for what this is all about right here

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