Quote:
Originally posted by Rick Lee
It's not all Greek to me, as I was an LO for two yrs. I wasn't good at it, but I knew how things worked. I was basically given a desk and phone and told "go". In the Old Town Alexandria market, there weren't many first time buyers and most of the folks who could afford that kind of real estate already had a relationship with some bank or mort. co. So I had a hard time breaking in there.
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It'll be scary for a few months, but it'll pay off. Remember though to rack up and save for holidays. that's where it'll hurt if you're new.
It's a different market even from several years ago. There's so much infiltration of new privately held lenders that there's lot s of product to sell. It's all changed rapidly.
Heck, I crashed out of mortgages in 00, and one of the gals that was simply an assistant to an AE when I left - when I came back in 04 took over her bosses old position and she did like $750K 2005 - as an conforming / Alt -A rep.
If you can make people like you, then you're set. I say go for it, but make sure you have some cash for end of October through the end of Jan...
Do it - also a good way to party a lot and meet chicks
rjp