![]() I had done a few commercial loans and sold a few very small 5+ unit buildings by that time. That was not fun in 1996.Īround 2000 I studied for my brokers license here in CA. Within a few months I quit and entered the mortgage business. After 6mo they transferred me to San Diego when I was 19. ![]() Right out of high school a large consumer finance company hired me in 1995.along the lines of TransAmerica, Household finance, etc. No I never worked for any type of recognized brokerage. To your point about which shop you're at, if it's a top shop then it means it largely hires top producers, so to you it looks like almost everyone is killing it in the business when the reality is that almost everyone is failing (except your co-workers because they were selected for their prior success). To a person being mentored by an employee of this mortgage bank it appears as though loan origination is a slam-dunk, risk-free career path however, I believe I read a few years ago that the average loan officer makes $40,000 per year while the average loan officer at this mortgage bank makes in the neighborhood of $240,000/year. This mortgage bank only hires established top producers. My friend is a top originator at an elite single-family mortgage bank. I'm trying to make the long-term decision about being a broker and investing on the side or getting into the principal side full time and opening up my own shop someday. But again, that is definitely survivorship bias because I'm at one of the top shops in my city and most of the brokers are very well established.īUT taking risk out of the equation, how can it be more "profitable" to make a commission off many properties/assets than to actually own a few properties/assets? Its the same with stockbrokers back in the day - you could make way more by making a commission from a high volume from clients than you can actually investing in the stocks yourself. I've only been at my current job for a little over a year (right out of college), so in my head I have it that brokers have a reasonable shot at making a few hundred grand each year, after they get their careers going. I never really thought of the principal side as more of a smooth and steady income stream, but that definitely makes sense so I get it.
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