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How to start a money brokerage business
HOW TO START A MONEY BROKERAGE BUSINESS
.....and Earn $100,000 a Year, Collect Large Fees Helping Others....and
Borrow All the Money You Need....
Becoming a Money Broker is one of the easiest and most rewarding
endeavors available. Virtually anyone can become a Money Broker
with the smallest investment. You can start this business on a
part-time basis, and earn large "Finders Fees," or open your own
office and work full-time with absolutely unlimited income
potential.
Until very recently, the "secrets of money brokering" were closely
guarded and known only to a few select bankers, investment
corporations, and business consultants. No other business offers
the potential income figure for so little investment! As an
example, starting with less than $100, some money brokers have made
$100,000 their first year in the business! This is the ideal way
for a man or woman to supplement his or her present income, or
change professions after a period of time. It is an absolute
"dream-come-true" for the semi-retired, or retired office worker.
There is hardly another business requiring less than $100 in
start-up cost that can put you into a six-figure income bracket so
quickly. None of them give you the power, prestige, or status - the
respectability in your community - equal to that of the Money
Broker.
To get started, you'll need envelopes, business cards and stationary
with your own letterhead. When ordering, be sure to include your
phone number. Also, have copies made of your Fee Agreement. We
have presented a typical Fee Agreement form (which you may duplicate
after eradicating the instruction we have given in the blanks).
As we have stated, the investment in this business is small; when
you have your stationery, envelopes, cards, and the Finder's Fee
Agreement in hand, you have spent part of it. The other part will
be discussed now, because you have to "find" both borrower and
lender to really get underway.
Once you have your "working paper," you will run some advertisements
in your local paper under the headings "Money to Loan," or "Business
Opportunities." Typical ads might read:
MONEY AVAILABLE FOR BILL CONSOLIDATION, HOME
REPAIR, BUSINESS EXPANSION, ANY WORTHWHILE
PROJECT. CALL JOHN JOHNSON - 423-8821.
(This ad would be used to "pull" borrowers)
BUSINESSMAN NEEDS CAPITAL FOR EXPANSION.
EXCELLENT COLLATERAL AND REFERENCES. CALL
JOHN JOHNSON AFTER 4:00 PM - 423-8821.
(This one would be to attract lenders)
In response to the calls or letters from prospective clients, you will have to be prepared (real be prepared by practicing) with the proper answers and sales pitch - i.e., (to the prospective boroer): "Yes, this is John Johnson. Thank you for calling. First I will explain how we operate. Im money broker, Mr. (USE HIS NAME). I bring you, the borrower, and the lender, together. I have anydifferent money sources available -banks, insurance companies, private investment groups of doctrs, entists, lawyers, and other professional people. My sources are in business to make money by lndingout money. Let's see - I need to determine your needs and the purpose of the loan in order topropery prepare the necessary financial papers for formal presentation to the best suited lenders. I may hve to take your loan request to as many as ten different lending groups in order to get the oan for ou. Once I have an approval on your loan request, I'm paid anywhere from 2% to 10
% of the total loan figure... important for you to remember, though, is that I don't get paid unless get the loan for you. I do, however, charge a $100 non-refundable Application Fee to cover my expnes in preparing your request for loan papers and presenting this portfolio to the lenders. In a ntsell, that's how these types of loans are negotiated. Now then, how much money will you need?"
(Note that five successful registrations per week will bring you $500 each week.)
This is where you begin to acquire the information you are going to need to proceed - the amountf money needed - purpose of the loan - terms borrower wants for repayment - and a profile of his bakround... education, employment record, date of birth, Social Security number, marital status, genealhealth, and number of dependents.
Next you type this information onto the proper forms, assembling all into a portfolio and presenng it with a cover letter to at least five different lenders for their consideration. When the loa s granted, you collect your Broker's Fee - a predetermined percentage of the total loan figure.
(TYPICAL FEE AGREEMENT FORM)
YOUR NAME AND ADDRESS
AGREEMENT FOR FINANCIAL SERVICE
The undersigned, __Borrower's Name__ , hereby appoints, __Your Name__ ,
as his Agent and authorizes him to submit to lenders financial data and
information supplied by the borrower, for the purpose of the lender of
making a loan or investment direct to the undersigned. The undersigned
agrees to pay to __Your Name__ a fee of ___% of the amount of the loan
or investment obtained. The undersigned hereby pays to __Your Name__ as
a non-returnable fee for the time involved to appraise the feasibility
of loan requested; this fee is separate from any other fees due, if loan
is obtained.
Date: ______________ Borrower: __________________________________
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