What Will You Need to Enter the Cash Flow Industry?

The Discount Note and Mortgage Industry is a relatively simple industry to enter and an opportunity most Factoring Consultants can succeed with to some level.  To enter this industry you will need the same basic tools as you require as a Commercial Finance Consultant including…

  • a computer (desktop, laptop, or quality tablet)
  • a printer / scanner / copier / fax (or access to them)
  • a website page or two for your FB-Series website with special lead-generating form fields
  • a contact relationship management system ( we recommend using your Pipedrive)
  • an email account (business email is preferable)
  • a cell phone
  • networking opportunities
  • product knowledge
  • perseverance

A Home-Based Business

Whether you operate as a note buyer (investor) or an industry middleman (broker), this is a business which is almost always operated from the convenience of a home.  To operate, you will need some relatively quiet home office space and preferable a desktop or laptop computer with a 4 in1 printer.

Product Knowledge…and Lots of It

To succeed in notes and cash flows, you need to have an expansive working knowledge of the many products associated with the industry.   There are many good industry trainers such as Charter Financial’s Cash Flow Institute which can provide you with high quality industry essentials.  You will additionally need to expand your level of knowledge with continuous online research into new and exciting product areas.  This is an industry where the more you know, the more successful you will become and the easier it will be to find business.

Networking and Relationship Building

While you will certainly utilize certain types of direct marketing (such as classified ads and direct mail) to generate leads, this business also tends to be one that is very networking oriented.  Fortunately, with today’s social media such as LinkedIn, Facebook, Twitter, etc., a great deal of your networking can now be accomplished online at absolutely no cost other than your time.

Contact Relationship Management

Successfully entering brokering / consulting businesses such as the Cash Flow Industry depend very heavily on targeted list building, prospect relationship building, and list management.  A quality CRM such, as Pipedrive, and learning how to use it daily is essential to you success.

Keys to Discount Note Success

As previously mentioned, discount real estate mortgage notes is the cornerstone of this industry and even though many individuals will start simply with “brokering” in mind, investing is where the “big” industry money is in this career path.  Owner financed mortgage notes can play a big part in “fix & flip” transactions, real estate wholesaling, etc.  Additionally, those that become adept at finding quality notes can eventually raise capital and purchase notes in their own investment partnerships.

The primary “key to success” in the discount note industry is tenacity, perseverance and organization.  Rather than develop their business and adding additional facets, too many that enter the industry leave it before they really learn what this opportunistic industry is all about.  Referrals play a large role in brokering / investing in notes and it takes time (months and sometimes years) to fully develop the important relationships necessary to benefit from your networking opportunities.  The great news is, you can be active in this industry for a pittance, typically under $50 per month including contact management, web hosting and business cards.  There are very, very few business enterprises that offer such high-quality investment and brokering opportunities at such a low opportunity cost.

Good organization of leads and prospects is a critical part of this business.  If you are not using a quality CRM (contact relationship manager), you will find yourself at a significant disadvantage in the long run.  We highly recommend Pipedrive to all Cash Flow Consultants due to its ease of operation and exceptionally low cost.  If you would like to test Pipedrive, simply log into DMS WebHost and generate a work ticket requesting a FREE 15 day Pipedrive trial.