I am a residential real estate investor looking to start brokering commercial loans. I have searched all over the web and there are many programs out there claiming that they can teach you how to become a broker and claim they can put you in contact with lenders instantly. They all claim that their program is the best. Can anyone give me some advice and direction of what program to buy, or not buy, or a possible course of action to take. Much thanks and good luck to you.

Jim
jbronzie@yahoo.com

I doubt that these programs work. If I am not mistaken I will soon see a post from someone selling a software package to do this. Let me warn in advance to the person looking to do that, you need to register and keep the contact information in the signature.

I would get a job in the industry or make friends with a lender.

Let me start off by saying I'm glad to see another Resi stepping up to the next phase of their mortgage career. You do't have complacency... you have hunger! This always makes me happy. Trust me I know how difficult it is. I've been there. LU makes a good point, become friends iwth a Lender... How on earth are you going to do that if you don't know one.

I should write a freakin book!!!!! The path from Resi to Commercial... can you handle it? hahaha okay back to business.

Go to your Mortgage Broker Association that you or your company is apart of. They will give you schedules to Commercial Lending Classes and Seminars. There are college classes you can take, but tends to be expensive. I recommend that you make friendly with the prof, and ask if you can see a syllabus and sit in on a few classes... (pick the pertinate ones on the syllabus! This will give you a foundation... take a tape recorder and write everything down. Push comes to shove, if the class is big enough just go! hahahaha I didn't recommend that, it was just a joke....

Then while you're working hard studying, and getting those commercial referrals I might beable to help you. If you become a referral source for Commercial Financing that close, you get paid a referral fee. If you are interested in this, we can chat later....

The life starting out I will warn you is HELL! The loan process is not for those who need immediate gratification. You must bust your butt day and night for at least 8 months, you will have some close calls, loans that bail, and just people milking you for information. You must keep your head high and KEEP PUSHING. I'm sure L.U. has some stories that could be on NY Best Sellers,,, as do I. Hopefully you will too!

After you follow up with the above mentioned post back and let us know how you're doing, and if there's anything we can do to help! I always make time for the HUNGRY!

The reason why Most seasoned don't offer too much insight, is because there isn't a set path. You have to make your own. What worked for me and what worked for LU won't work for you. You start your creative juices just by figuring your way into the industry. Then you make a name for yourself. Prove yourself getting paid referrals in the interim.... sustaining life. Then you build your clientel and next thing you know you're on here giving the advice!

GOOD LUCK!

Oh as for buying stuff online, most of it is interesting and may have a few good pointers... the school of Hard Knocks is the best teacher!