Transactional Funding: ins and outs, ups and downs, seeking advice & insight!

[Jennie Berger]

Hi Y'all:

I'm exploring the possibility of getting into Transactional Funding and would love to hear your experiences from both the lender and borrower perspective. I've done some preliminary due diligence (as the lender) and feel I have a pretty firm understanding of how it works. Being that I'm new to it, though, I'd appreciate hearing unique experiences from anyone with valuable information to share.

Thanks! :)

[Jesse LeBlanc]

I fire clients regularly.  I CANNOT stand when someone isn't transparent and or tries to hide anything from me.  That is usually the last time I work with them.  ANY client that is like that to others will likely be the same way to you at some point.  So I steer clear of them and instruct my team to pass those people along to me to handle.

I also have nothing more than my word and all of our 80+ all 5 star reviews.  Anything less than that is either because the client never clearly understood the loan type we offer or something we did wrong.  Only the first can be corrected, but us making a mistake and getting anything less than 5 star review is stricly unacceptable in my eyes and my team also has a strong sense of ownership in their position and loyalty to my company.   I always make sure to help the team but also support them while giving them room to make the position theirs, get them to realize they are part of the company, not just an employee.  I make sure that they help in creating new systems and processes, always asking for their advice.  

I'm a leader, not a boss, but they see and hear far more than I do so I'd be an idiot not to listen to my team.

I think as you grow and expand, you too will do the same whether as a Transactional Lender or anything else you do.  Sounds like you have a badass mindset and exactly what you need to succeed! :)