All Topics / Finance / Selling trail books?

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  • CharlieX
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    @charliex
    Join Date: 2015
    Post Count: 98

    so how do I do such that my math is correct?

    is it the drop off rate on the previous figure, not the gross figure?
    if so, is this the right method to assess the trail book?
    Year 1 = 100k – (100k x 5%) = 95,000
    Year 2 = 95k – (95k x 5%) = 90,250
    Year 3 = 90,250 – (90,250 x 5%) = 85,730
    .
    .
    .
    .
    theoretically, this method takes many years to totally depreciate the book value.

    • This reply was modified 5 years ago by  CharlieX.
    Profile photo of TerrywTerryw
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    @terryw
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    Dont forgot the s on the end of Math.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    CharlieX
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    @charliex
    Join Date: 2015
    Post Count: 98

    is anyone selling trail books?
    I need a base to launch my broking career.

    CharlieX
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    @charliex
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    Post Count: 98

    Seems to be more buyers than sellers in mortgage trail books?

    If I buy a financial planning trail book, do I have to be a financial planner?

    Profile photo of TerrywTerryw
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    @terryw
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    Seems to be more buyers than sellers in mortgage trail books?

    If I buy a financial planning trail book, do I have to be a financial planner?

    you only need to be licenced if you intend to give financial advice.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
    Post Count: 12,018

    Although in saying that wont find too many FP License holders be prepared to allow you to receive ongoing trail commission if you don’t hold a FP License.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
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    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    Profile photo of TerrywTerryw
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    @terryw
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    Thats right the trails are paid to the licence holder who passes it on to the authorised rep.. Might be difficult.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    CharlieX
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    @charliex
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    sounds like better to get the FP licence before buying the trail book so I can get the trails paid directly to my licence? does it not make sense for a person to take on complimentary products such as mortgage broking and financial planning? what other products would be complimentary products to mortgage broking, financial planning, and real estate?

    Profile photo of TerrywTerryw
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    @terryw
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    sounds like better to get the FP licence before buying the trail book so I can get the trails paid directly to my licence? does it not make sense for a person to take on complimentary products such as mortgage broking and financial planning? what other products would be complimentary products to mortgage broking, financial planning, and real estate?

    I am both an FP and an MB and so is Richard.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
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    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    Profile photo of Corey BattCorey Batt
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    Join Date: 2012
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    sounds like better to get the FP licence before buying the trail book so I can get the trails paid directly to my licence? does it not make sense for a person to take on complimentary products such as mortgage broking and financial planning? what other products would be complimentary products to mortgage broking, financial planning, and real estate?

    You certainly can, but at the same time be wary of the risk of being a jack of all trades – master of none.

    Corey Batt | Precision Funding
    http://www.precisionfunding.com.au
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    Investment Focused Finance Strategist - servicing Australia-wide

    CharlieX
    Participant
    @charliex
    Join Date: 2015
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    not trying to master everything, but just the complimentary products.

    difficult to be a good mortgage broker, without good knowledge of real estate, and good understanding of the financials of the clients?

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
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    Charlie you certainly won’t be getting your own FP License but be operating as an Authorised Representative of Licensee.

    Most small FP businesses operate this way due to the cost and compliance involved in having their own License.

    Cheers

    Yours in Finance

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    CharlieX
    Participant
    @charliex
    Join Date: 2015
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    Charlie you certainly be getting your own FP License but be operating as an Authorised Representative of Licensee.

    Most small FP businesses operate this way due to the cost and compliance involved in having their own License.

    Cheers

    Yours in Finance

    sounds like the same model as most mortgage brokers operating under someone else’s ACL?

    Profile photo of TerrywTerryw
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    @terryw
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    Yes its similar, but the AFSL is much harder to obtain and there is much more compliance and regulation. It costs much more than broking as well.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://structuring.com.au/
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Aust wide) http://propertytaxbook.com.au/

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    anyone selling mortgage trail books?

    I want some trails :)

    Profile photo of Richard TaylorRichard Taylor
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    @qlds007
    Join Date: 2003
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    How deep are your pockets and what sort of multiple are you willing to pay.

    Cheers

    Yours in Finance
    0-40 properties in a decade. Ask me how.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me | Phone Me

    0-40 Properties in a decade with a unencumbered portfolio value in excess of $40M. Ask me for a copy of my API Interview.

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    will your aggregator transfer? :D

    the difficulty is the seller’s aggregator not willing to transfer, and the buyer’s aggregator has to consent to accept.

    if you know any within connective selling, let me know :)

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
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    Trail books are generally in high demand – I know my aggregator sells them quickly and there’s generally a list of interested buyers.

    If you’re genuinely interested then best to contact connective and ask them to keep you in mind when something comes up.

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
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    Mortgage Broker assisting clients Australia wide Email: [email protected]

    CharlieX
    Participant
    @charliex
    Join Date: 2015
    Post Count: 98

    Trail books are generally in high demand – I know my aggregator sells them quickly and there’s generally a list of interested buyers.
    If you’re genuinely interested then best to contact connective and ask them to keep you in mind when something comes up.

    thanks :)

    I think I’m already on the list, but so far not a thing yet.

    Profile photo of RedwoodRedwood
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    @redwood
    Join Date: 2013
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    Charlie – how long you been broking? Its a perfect time to win new clients, and perhaps focus on marketing to a specific niche, the upfronts will cover your costs and you can build your trail….then find a trail book later on. Also, look at what else are you providing other than broking? the market I believe will be based on a product suite rather than specialist mortgage broking…

    Cheers Ivan

    Redwood | REDWOOD | SMSF | PROPERTY | FINANCE
    http://redwoodadvisory.com.au
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    SMSF - PROPERTY INVESTMENT - WEALTH CREATION AND FINANCE SOLUTIONS

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