HOW TO START A MONEY BROKERAGE BUSINESS OF YOUR OWN
... and earn $200,000 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
endeavours 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 $200, some Money Brokers
have made $200,000 in their first year of 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 $200 in start
up costs 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 a Money
Broker.
To get started, you'll need stationery, envelopes, and business
cards with your own letterhead. 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 Fee Agreement
forms 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 BILLS, HOME REPAIR, BUSINESS
EXPANSION, ANY WORTHWHILE PROJECT.
CALL JOHN JOHNSON 555-264-6543.
(This
ad would be used to "pull" borrowers).
BUSINESSMAN NEEDS CAPITAL FOR EXPANSION. EXCELLENT COLLATERAL AND
REFERENCES. CALL JOHN JOHNSON AFTER 4pm 555-264-6543.
(This one would be
to attract lenders).
In response to the calls or letters from prospective clients, you
will have to be prepared (really be prepared by practising) with
the proper answers and sales pitch - i.e. (to the prospective
borrower):
"Yes, this is John Johnson. Thank you for calling. First I'll
explain how we operate. I'm a money broker. I bring you, the
borrower, and the lender, together. I have many different money
sources available - banks, insurance companies, private investment
groups of doctors, dentists, lawyers, and other professional
people. My sources are in business to make money by lending out
money. Let's see - I need to determine your needs and the purpose
of the loan in order to properly prepare the necessary financial
papers for formal presentation to the best suited lenders. I may
have to take your loan request to as many as ten different lending
groups in order to get the loan for you. Once I have an approval
on your loan request, I'm paid anything between 2% to 10% of the
total loan figure - important for you to remember, though, is that
I don't get paid unless I get the loan for you. I do, however,
charge a $200 (or $50 or $100) non refundable Application Fee to
cover my expenses in preparing your request for loan papers and
presenting this portfolio to the lenders. In a nutshell, that's
how these types of loans are negotiated. Now then, how much money
will you need? (Note that five successful registrations per week
could bring in between $250 and $1000 each week).
This is where you begin to acquire the information you are going
to need to proceed - the amount of money needed - purpose of the
loan - terms borrower wants for repayment - and a profile of his
background; education, employment record, date of birth, marital
status, general health, and number of dependants.
Next you type this information into a proper format, assemble it
into a portfolio with a cover letter, and present to at least five
different lenders for their consideration.
When the loan is granted, you collect your Broker's Fee - a
pre-determined percentage of the total loan figure.
TYPICAL FEE AGREEMENT FORM
YOUR NAME AND ADDRESS
AGREEMENT FOR FINANCIAL SERVICE
The Undersigned
(borrowers name)
hereby appoints
(your name)
as Agent, and authorises 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
of the amount of the loan or investment obtained.
The undersigned hereby pays to (your name)
a non-returnable fee of $ ...... for the time involved to appraise
the feasibility of loan requested; this fee is separate from any
other fees due if the loan is obtained.
