Almost three years ago we kinda sorta beta tested doing invitation only seminars for past clients of local mortgage brokers. It went like this.
The mortgage guy went through his data base looking for clients who either fit the investor profile, (as defined arbitrarily by some bald dude) or folks who had actually spoken to them about their investments, or how they wanted to get started. This resulted in a ’10 best list’. We’d decided to keep these seminars small and intimate. We didn’t want to play the numbers game. By limiting the invitees to those who were actually interested in real estate investing, we felt 10 people (or couples) was about the right sized group.
This turned out to be correct, as the atmosphere was more like having a conversation instead of being talked to. It also resulted in more time getting their questions answered than listening to me talking at them — a good thing.
I wrote in more depth on this topic several days ago.
So far, the mortgage brokers who have hosted these seminars have increased their production significantly, and their clients have begun the march to a great retirement through intelligent real estate investment. The very first mortgage broker to participate ended up inviting only five clients. All five became our clients. In the eight months immediately following our first client meetings, he closed almost 30 loans. In the year after that he did another dozen.
I invite you to contact me if you have interest. We don’t charge for the seminars, but the host is responsible for our travel and hotel expenses.
Our last seminar of was held in Boise, and the response was incredible. We ended up having to do two of them. All but one person decided to seriously consider becoming a client. So far, over half have indeed signed on. This will mean by the end of the year our Boise host will be busy providing about 10-20 new loans — all a direct result of the seminar. This also means that whatever these clients do in the future, the original seminar host will be the go-to lender. That lender is now starting the process for the first half a dozen loans.
What are our standards for mortgage broker hosting? Simple. Have a demonstrated record of high character, consistent performance, and solid professionalism. Because we are not geographically bound, it also helps to be licensed in as many states as possible. To be clear — we’ve turned down lenders because they didn’t measure up. This only works when everyone involved is a pro.
If interested you may contact me through my blog or website using email or phone.
