Here’s your Cash Flow Business Tip of the Week

When you return the signed agreement form to the funder (see the last tip), at the same time you want to completely fill out the note submission sheet that you download from the Elite member site for that specific funder. Here’s where many beginners drop the ball because they are very bad at transposing and double-checking the information from the document copies and transcribing it onto the form. You’d be surprised as to how many new brokers there are that don’t know how to properly fill out the forms. A key benefit to Elite members is they get “hand-holding” throughout this process if they need it. A properly-submitted note package is a big key to getting a transaction funded with NO delays.
You also want to enter your commission in the correct place on the form so as to ensure the checks are properly cut.
YES, it is YOUR job to fill out the forms. But that is ALL you do. It’s actually very little work. But it has to be done right. The funder then takes over from there and does ALL of the backend work. And you learn a great deal about the entire process by watching the funder close the deal. AT THE END of the process, two checks are cut: one to the note seller (for the agreed-upon purchase amount) and one to you (for your agreed upon commission). The seller does NOT know how much you make.
In the next tip, we will continue.

This entry was posted in Main blog, Tips. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *