Another venture >?!?!

[Moosie]

Sooooooo.... YAh, You know... another day... another idea,,,, another venture or so... SO.... being bored lately I decided to learn something new. Home loans. Yes, I'm keeping my day job and just gonig to "dabble".

So, I'm getting my lending licence and going after hours learning with some friends in the lending bizz.

Any thoughts ? I sure don't have any

 

[brymoore]

Well, the mortgage markets have dried up. There should be some opportunity to pick-up some loans that can't be funded in the typical mortgage market.

Are you talking about being a hard money lender? That type of lending is interesting in the fact you own the collateral in the case of a default. So, it you lend at 25% LTV and they default, you keep all of the profit, not just your loan amount.

 

[DRAFTSTUD]

Have you ever thought of buying a Pawn Shop? Think of all the neat stuff you could get!!! I have a brother-in-law who owns one...kinda weird, neat place. John

 

[cjcj]

I don't see how you could compete with the "investment banks"...unless uncle sam will bail you out.......Good luck... One thing about Moosie he likes to spread his investments around.......Whats up with that invention???? [just curious]

 

[Calif. Hunter]

Nah - he's just going to be a mortgage broker, not a lender.

 

[noharleyyet]

Any thoughts ? I sure don't have any

I think you're gonna be a zillionaire.

 

[Moosie]

Well.. The invention is in the works I guess. It's electronic so it takes a bit of thought. And getting a patent anymore blows with the new process...I'm not really sure how to go about it right now ?!?! Time and smartness I guess. Both I have not much of !!

Cali is right, I'm looking at mortgage brokering, not hard money lender (More then I do otherwise ). As far as a Zillionair ... I'd be happy to be a Thousandair right now !!!

 

[Moosie]

Started my first deal 2 days ago and working on another one tomorrow.... Me likey thus far

 

[chasendeer]

How is the loan bizz treating you? Can you loan in CA?
Jay

 

[Moosie]

Right now I can only do Idaho. We're working on Utah and then Probably Montana, just cuz I'd love to have an Excuse to visit some friends in Montana, Even if it jsut paid for the trip it would be worth it Actaully it wouldn't be hard to get a Licence in another state we'd just have to do it.

It's going good. I have alot of prospects and it's amaising if you start helping people save money and geting them good rates they tell their friends and you start geting the "My friend "BLANK" told me to call you". I also have a new friend thats a real estate agent I talked to several times and he let me help his parents on a reverse mortgage. Now, Today out of the Blue a Guy from Nevada looknig to buy a home here said he refered him to me.

That being said, I've still yet to close a loan Going onto month 2 now not making any income. I also have 3 rentals and the only one paying of the 3 on time any more might be moving It's the 5th and I need to get calling on the other 2 places. Times are tight, but it'll all work out... and work out well

Jay, if you need a loan, drop me a line @ [email protected] and lets talk. I'd love to be able to help ya.