Refinance consultant business plans are part of a growing movement to facilitate residential homeowners' quests to get more favorable rates on their primary mortgages. Falling interest rates and record refinance activity in the recent past have set the stage for a cottage industry—an industry of consultants representing themselves as advisors or third party assistants to consumers in the refinancing market. While some of this consultancy work has come under scrutiny, honest—and profitable—work definitely exists, and if this is your chosen business model, more power to you! What you need to cover in your business plan are the following points:
• Define the nature of the refinance services you offer
• Disclose any partnerships with (and kickbacks to) banks or other lenders
• Break out the territories or markets in which you operate
• List the target consumers and what loans you have in mind (Single family homes or apartments? First mortgages vs. second? Etc.)
• Finally, state the intended capital raise sum and itemize how you will use it
The business plan for a refinance consultant should demonstrate how the capital you get will be applied and then show what the projected number of loans modified each year will be. Your revenues from this work should be clearly identified and weighed against the ongoing expenses, including your own business loan servicing. (Remember that a document for investment will need an ROI calculator/investor proposition and a five-year model as opposed to a three-year forecast.) Also include a write-up on yourself and your team (with a personnel plan), a marketing approach overview, and a brief analysis of the industry conditions today. Want someone to write this plan for you? You can feel comfortable turning to the industry experts at MasterPlans, where since 2002 they have been writing business plans for funding from scratch: (877) 453-2011.
If you are ready to go, or not sure what kind of plan you need, fill out the form below and we'll call you.