Over the last few months I have been searching for ways for us originators to earn extra money while waiting for the market to correct itself.
I don’t need to tell you how tough - maybe even impossible this market has been and the toll it has taken on our industry.
SO I HAVE LITERALLY STAYED UP DAY AND NIGHT AND SEARCHED THE ENTIRE COUNTRY looking for complimentary businesses we could profit from immediately and still maintain our origination business.
A few weeks ago I let you in on Dean Engle who I personally spent 4 days with ( to make sure he was real) learning the ins and outs of buying distressed notes.
Months before that we started a Property Preservation - trashout business since foreclosures are rising and expected to continue
On September 24 I am going to let you in on the guy I learned this field from — his name is Anthony Simonie and he is THE expert in this field
TO REGISTER FOR THE CALL GO TO
www.trashoutcash.com/webinarregistration
Spaces are limited….
Our company is called Advanced Property Presrvation
and our site is www.marylandtrashout.com
Both Anthony and Dean ( the note buying guru) have companies that actually do what they teach…
NOW THE BIG QUESTION……
I have been getting a few e-mails suggesting that all I am trying to do is sell stuff to you …
Of course I am in business to make money - Aren;’t we all?
BUT - I also feel a responsibility to take you behind the scenes of what I am doing and what I know is working to turn the lemons of this market into lemonade.
What do you think? Am I wrong to let you in on these things? or Should I continue to provide you with this type of information ?
LEAVE YOUR COMMENTS BELOW
and then hurry over to
www.trashoutcash.com/webinarregistration
and register for the September 24 call before all the seats are taken
Dedicated To Having Buyers Chase you
Brian Sacks
PS- Not a member of the formula yet?
go to www.loanofficerformula.com/gold
(4 votes, average: 5.00 out of 5)Click The Stars To Rate
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{ 16 comments… read them below or add one }
Dear Brian,
I appreciate you sharing the opportunities with us. At the same time, on some level, it does feel like just trying to sell another system but in your defense, I have signed up for Dean’s Note Buying Profits and he does seem to be the real deal.
I feel that what people really need is a roadmap to follow. Dean has an 8 week syllabus that you can follow to get from point A to point B and he provides real life examples of deals he’s done or is doing right now.
With your trash out venture, people need a roadmap too but more importantly, they need to learn how to market their services and web presence effectively and affordably. People are investing in these systems becuase they need to supplement or replace their mortgage related income and most people are just hanging on by a thread. They need viable, low cost ways to reinvent themselves and start making money again.
I don’t have a problem with you or the people you have partnered with making money. The only time it would become an issue is if the product or service did not live up to the hype and people that put their trust in you got burned.
thanks Matthew
I have and WILL only recommend programs that I have investigated — but more importantly and am using..
there are 4 things I am doing right now
THis past week I put in an offer on 4 notes and on Monday have a meeting to form a partnership with 3 others JUST to invest in these notes.
We have just set up http://www.marylandtrashout.com based on the information I learned from Anthony and his program so you can see it for yourself.. Just started marketing and am hoping that the business will start rolling in.
So — the one thing you will find is that all of these “teachers” are all “DOERS” as well…..
I am not able to disclose the other 2 yet because I am still in “test ” mode with them… but they are both getting better than expected results.
Of course not every program is right for every person– BUT - My job I feel is to expose the group to opportunities they might not have otherwise known about.
Opportunities that are synergistic with originating and can provide additional profits… quickly– It’s up to everyone to decide what’s right for them.
Lastly the question should be how do I start all of these side businesses]?
I find the right people to run it and my job is to focus on the marketing ..
In the property preservation biz it’s my wife Sherri who runs the day to day and contractors.
Wishing You Success,
Brian Sacks
Dear Brian,
There are allot of dirt bags out there taking advantage of Loan Officers. They say that if you just use that last $1,000.00 on your credit card or if your maxed on your limit (like me) they suggest all kinds of harmful things just to get you to buy their coarse. YOU ARE NOT ONE OF THESE PEOPLE. I APPRECIATE THE EFFORT THAT YOU ARE GOING TO IN ORDER TO HELP US LOAN OFFICERS THROUGH THESE UN PRECEDENTED TIMES.
I dont have the money yet to by deans coarse but I will and I will apply the knowledge diligently and make it work. You are one of us except that you have enjoyed a degree of success I wish we all could have. You obviously know what your talking about. I have been in the business 16+ years and had I listened to you from the beginning I would no doubt not be in such dire straights.
Thank You for not thinking about the little guy and pulling the ladder up behind you so to speak!
Thank you for the response Brian. What I forgot to add earlier is that you always back the products or services you offer with a “no hassle” money back guarantee. I actually had to return something from you at one point and your staff was professional and issued a refund promptly. I wish I could say the same for other people selling products and services in our industry.
Anyhow, in your last response, you gave us all something invaluable when you said that in order to run multiple businesses, you hire someone capable of running each business while you focus on the marketing. I think most people miss that and get overwhelmed trying to do it all and then give up or say “I tried that and it didn’t work.”
Anyhow, looking forward to next Wednesday’s call. Have a great weekend.
Hey Brian,
I appreciate the tools that you provide and the items of interest and business opportunities that you present. I totally enjoyed the Note Buying webinar and when the budget allows I will probally sign up. Keep up the good work. I am looking forward to the trash out webinar coming up this week. All the best. Rick
Brian, I am new to Loan Officer Formula and actually enrolled in Dean Engle’s program. With that said, I have gone through a lot of your material and one thing you wrote really struck me; one of the big mistakes loan officer’s make is “chasing after the next bright, shiny object.” So, I think some may be wondering if these are “bright, shiny objects” being presented to us, thereby distracting us from our core loan businesses. My hats off to you for all of your due diligence in investigating these businesses, and getting involved yourself, in essence putting your money where your mouth is. I am glad you are not suggesting we join the next “hot” MLM and get in on your downline, like so many of my former associates!
I for one, thought, you are right! I have been chasing the next, bright shiny object and not working on my business! So, I am now focused on building up my realtor relationships and launching myself into Reverse Mortgages.
Here’s my question, you have written the mortgage business is in the worst condition you have ever seen it in your entire career. If this is the case, am I foolish to take a stand and focus “on my business.” Heck, there are plenty of LO’s in my company producing great volume this year, $20,000,000 and up in a tough environment. Why can’t that be me in 2010?
And if I am foolish, then yes, we should all be diversifying as fast as we can into other lines of work, right? As I mentioned before, I am taking Dean Engle’s program, and I hope I am not chasing after the next bright, shiny object and that it will make me more money than otherwise and an even better loan officer. Please advise, thanks, Matt
Matt thanks for your post. You asked Bryan a question I wanted to know the answer to as well. Am I a fool for sticking it out in this Mortgage business when it seems every day their is a different piece of garbage legislation. The latest blow was the announcement by HUD that after the first of the year all FHA loan appraisals will have to be ordered through appraisal management companies. This after the head of HUD (cant remember his name) said not just 30 days earlier that HUD would not be following in the footsteps of HVCC.
Thanks, Steve
Matt
Thanks for your feedback… You are right NOT to get distracted by the next shiny object..
BUT LET ME CLEAR UP THE CONFUSION…
What I was talking about was always looking for new ways to market your business “the next shiny object” without giving current methods a chance.
Like mailing one postcard one time and saying direct mail doesn’t work.
OR
Going to one Real-Estate Office 1 time- getting rejection and saying “I can’t work withRealtors”
Now in terms of the other revenue sources I am sharing - -they are NOT meant to be “shiny objects”
Rather — they are meant to be complimentary businesses that can help some make extra income during these downtimes..
With notes — there is an opportunity to refi some out or sell the home and get the loan for the new buyer–IT’s information we are already familiar with and can now profit from..
Same with the Trashouts.. In fact it forces you to make Realtor contacts since they are often the ones who order the trashouts.
Look at any wealthy person and you will see that their income comes from various diverse sources.
Hope that clears it up
Brian
Thanks, Brian. That’s just the clarity I needed because it DID NOT escape my attention that Note Buying would help me make more and perhaps even better contacts with realtors than otherwise. I feel like I am on the right track now as opposed to just a few months ago, thanks to coming into contact with Loan Officer Formula. I hope this does not sound like a shallow plug for LOF. But, literally, just this last July I was utterly lost in the mortgage business and LOF helped me re-establish the right mindset to continue in this business in spite of all the adversity.
Brian
Also, you are absolutely right in that any wealthy person earns their income from various diverse sources and it is foolish, I think, to rely just on loans if one wants to get beyond earning a living and actually attaining wealth, especially in this economy.
And, Steve, find that burning desire, keep the faith, have a plan and take action, and never, ever give up. Who cares about HVCC? we must adapt and be the loan officers who thrive under any circumstances!
Can you please tell me what makes something Emotional Direct Response Marketing instead of just Direct Response Marketing?
Thanks,
Andy Gutman
Hi Brian,
I think what you provide is a valuable service to those of us who are/were in the mortgage industry full-time. Getting loans closed and getting paid has become increasingly difficult, and now they are trying to cut YSP.
What you provide are OPTIONS and choices. What you do reminds me of the saying “money won’t make you happy” but it provides choices. Keep us all informed about the ancillary services that we can be a part of. I have chosen to focus my atttention on real estate and selling lease-options and land contracts for those who have challenged credit. There are many sellers here in my home state of Michigan who are upside down and don’t qualify for a short sale because they are not economically distressed or they own free and clear and don’t want to just give their property away at current prices. They just want/need someone to take over the property for 2-5 years and make payments. My buyers are doing Land Contracts and getting the $8k tax credit and everyone is happy. Thanks for what you do!!!
Brian,
Thanks so much for investigating other ways outside of the mortgage industry that we can make money. Our business has come to an almost stand still & so after seeing Anthony’s webinar last Thursday, my wife and I decided to buy the course over the weekend. We can hardly wait to get started as we listened to the Inner Circle questions last night & just the savings alone in E & O insurance is worth the cost each month to be a part of the circle. Your willingness to help others may keep us from loosing our house and help us to get our bills caught up. Now it’s up to us. Much thanks again and blessings to you. Best wishes for all of your business endeavors.
Respectfully,
Ken H - Broker
California
Hey Brian. I have a guy that wants to sell a note but it is not secured by a mortgage. He sold a business and took a note on it. The buyer signed for her corporation and also personally. Is this something we can work with? If we can do this deal together (since I know nothing about it) and can make some money I will buy Deans program and also join your website which I think is awesome but can’t afford right now. Needless to say I am hanging in here but pretty much busted so I thought this would be a way we both could make a little money and learn at the same time. What ya think?
Clay
ps…I think what your trying to do for the mortgage community is awesome. We need to think outside the box right now until the business settles down…..
Clay
Thanks for your kind words.
I am not sure of anyone who would purchase an unsecured note…
Sorry !
The real money is made purchasing secured notes only … and then only at a major discount.
In any real-estate market– people will always buy homes if they are in decent shape and the lowest price in the area…
You MAKE YOUR MONEY WHEN YOU BUY NOT WHEN YOU SELL !!!!!
All The Best ,
Brian Sacks
PS– I am a bit concerned about your situation..
The one thing for sure is that you MUST do something !
Is it risky ? Yes?
But doing nothing and hoping things improve will DEFINITELY NOT WORK…
Pick a course and get going !!!!!
Hi Brian, I know you dont approve of “cold calling”… but I try to make at least 100 cold calls a week to real estate agents, past clients, and what ever list i find… to keep me in ’shape’ and to go back to the way i originated loans 20-30 yrs ago..the reason i’m writing you this note is because i picked up 3 private money performing loans, held by real estate agents, and were selling below 50% discounts to generate cash flow for these agents. so cold calling works even in the note discount market. my best, leo