With the recent problems in the subprime market changing the playing field in the mortgage industry, if you have not changed how you do business yet, then your in trouble. There are several things we have done lately which has increased our business by approximately 40%!
1. Organize an investor network! With foreclosures climbing steadily and home prices stagnant or decreasing, there are many many opportunities for real estate investing. Over half of our purchases are investment properties at this time. Tap into this income stream!
2. Change your lead buying! Internet leads are a excellent source of new mortgage business. However, if you are purchasing leads in the subprime market, you are wasting time and money. Concentrate on the higher end leads which can be filtered for prime 'A' paper customers. We close these without worry to what is going on in the market. Rates are still outstanding for these customers.
More to come next week!