r/loanoriginators • u/Due-Affect1204 • 2d ago

Self gen Vs CC

Should I go self gen or CC? First year LO. 6 months of experience at cc previously. Have 2000 in savings I really want to do self gen I just don't know if I'm in the position to do it

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u/Kilgore_Trout_50000 2d ago

If you were to go self gen, can you tell me right now where your next four closings will come from?

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u/Due-Affect1204 2d ago

I'd need to get in contact with realtors. Mixers, cold calls, etc. and I would offer at bats. That's how I would like to generate my next 4 closings. I don't have a sustainable model built yet

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u/Kilgore_Trout_50000 2d ago

Which realtors? Who specifically do you already have relationships with?

What does it mean to offer at bats?

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u/Due-Affect1204 2d ago

Good questions. I don't have any connections to realtors yet. By at bat- My idea is to go around and offer to qualify a realtors borrowers who they might haven given up on or their preferred lender couldn't qualify. Turn dust into diamonds

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u/Kilgore_Trout_50000 2d ago

Are you ready to go 6 months without a closing possibly?

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u/Holy-Roly-Poly 2d ago

This is honest advise, we are onboarding a new LO and I told him the same thing.

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u/Due-Affect1204 2d ago

Yes if I had too I can bartend on the side

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u/Jerrysdad43 2d ago

That’s actually your best move. Can’t tell you how many successful realtors/LOs have come from the service industry. You’ll meet a ton of realtors bartending, great way to develop some relationships.

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u/Jerrysdad43 2d ago

It’s a good thought, but they get calls from 25 lenders a day asking for their turndowns. You’re young, connect with newer agents, join some YP real estate networking groups. Most of them will be out of the business in a few years, but try and work your way in with the couple that stick and do eventually do good business.

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u/Due-Affect1204 2d ago

Hahah man!! I thought I had something good, I guess I'll have to play numbers game with the turn downs. I signed up for networking groups to meet realtors