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Roy Deeks: Broker retirement plan

With economic uncertainty and increased competition from the banks squeezing mortgage brokers, what options are available, especially for brokers looking to get out of the business sooner rather than later? For Roy Deeks, principal broker of Unity Financial Mortgage Services-The Mortgage Centre, the answer is syndicated mortgage investments.

Video transcript below:

Roy Deeks, Principal Broker, Unity Financial Mortgage Services, The Mortgage Centre
Roy Deeks:
 The brokerage market is shrinking and the stock market has been volatile since 2008.  It presents a challenge to both our clients as investors and to mortgage brokers to increase our broker business and to survive in this, in these trying times with the banks being more aggressive, I believe that I have found the solution to adapting to the change that we have been presented with and that is a syndicated Mortgage Investment.

It’s within my expertise level, I don’t have to go outside of the box and bring in Insurance Products or Investment Products that I don’t understand.  It’s something I can go back to my database with and actually provide additional value added to what I did when I first met them.  So like most of us I spent a lifetime building this client base and how do I capitalise on that.  There’s no market for selling my business, I would rather be spending less time at work and more time doing the things that I want to do with my life, so how do I do that.
And when I did my due diligence on this product, I realised that most of the work is going to be done by the product provider and all I have to do is go back to my clients and offer them something that they are focused on already and that is wealth preservation, wealth growth and income generation.  I’m using it in my business and it’s been a runaway success as far as I’m concerned.  It’s, with the beauty of the product is that it’s a secured investment, the client gets an 8% guaranteed return over a three year term, plus a 12% profit participation at the end of the project and they have direct registered ownership in the mortgages registered against real security.  So guaranteed returns, real tangible security with quality, bank quality projects, developers that have a proven track record and real estate which you can touch and feel whenever you happen to want to look and see how your investment is doing.  The referral fees are much greater than what I was earning on my standard mortgage business, so it’s solved another issue for me, I don’t have to worry about selling my broker business, I can go back to my database which is a gold mine for most of us and actually offer them a product that’s in tune with where their focus is in their, at their stage of life.