Odhora Alo: Real Estate Investing: Mortgage Brokerage (2)

Real Estate Investing2 Real Estate Investing: Mortgage Brokerage (2) It declines with the amount of the loan, but most of the time the fee is in the neighborhood of 1 percent of the loan amount. And when you?re dealing in large commercial mortgages, you can make a very good living.

A friend of mine recently obtained a $65 million mortgage for a client of his. The fee: $500,000. And as he did not sell his time?perhaps he put in 50 hours?he earned $10,000 per hour. By the way, I do, of course, recognize that to be in a position to make larger deals, a real estate broker or mortgage broker needs to invest a lot of ?start-up time? learning the business and developing a following, but so do those who sell their time by the hour.

I am giving you numbers of actual deals for one reason and one reason only: I want you to see the POTENTIAL rewards of the real estate brokerage and mortgage brokerage businesses. I want you to see that the rewards are not tied to a certain number of hours invested or capital at risk.

But I also do not want you to think that these rewards come easy. All of the most successful players in the real estate and mortgage brokerage businesses are diligent, clever, and tough. They work very hard at being good at their profession.

They constantly work at being good at the mechanics of the business, are always networking, are always on the prowl for new accounts (buyers, sellers, tenants, landlords, borrowers, lenders). But as a lawyer, I do the same thing.

And my doctor friends work hard too. As do my consultant friends. What is extraordinary about the real estate and mortgage brokerage businesses, in my view, is that the potential rewards are so large. If you play it well, the sky is the limit.

Real Estate Investing: Mortgage Brokerage Another great way to learn about the world of real...
Why I?m a Brokerage Fan There are many reasons that I?m a big fan of...
Selling the Minutes of Your Life A friend of mine says that business is ?about selling...
Back to Brokerage (2) The key is to obtain the consent of both parties...