I am in the mortgage loan business. How can I get people motivated to buy?
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Any advice. I am looking for motivated buyers. Or people looking for a refinance.
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If you are any good the local real estate agents will recommend you and you will not have to beg.
you are in the tough part of the cycle. my guess is that about half the people in your business are going to leave it — as measured from cycle top in 2006 to the future cycle bottom in maybe 2009.
my guess is you’ll do well, even so, to keep 1/2 your prior income level.
great product at good rates is a requirement. check your lenders regularly for rates and terms. prune and replace as needed.
then you have to get the word out. Lord knows what will actually work [we don’t know where you are and so have no idea of the market conditions] … and you need to try near everything advertising and marketing wise.
every house in my subdivision got a slick multi-color flyer hand delivered to the door just this week from a mortgage broker who’s doing whatever to find business.
and send a letter to everyone you’ve ever done a deal for offering to search for a refi.
you also need to find some of the local RE bottom fishers — the fixers and income investors. We’re looking for good deals, as usual, and will need financing. BUT, (at least in my area) prices have a ways down to go yet.
GL
I was once in your situation. Don’t worry, everything will work out for you =)
A year ago I found this organization that gives people up to $ 1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.
http://www.help-for-rent-mortgage.org
Good Luck!
Good finance question! I know of an organization that gives up to $ 1500 to people to help them with their rent or mortgage. It’s available in most US cities, I highly suggest you check it out.
http://www.rent-mortgage-organization.org
Best of Luck.
Chick the web
http://www.orbitbusinessloans.com/
http://www.orbitmerchantsolutions.com/