Important questions to ask when looking for a net branch company (part 1)

What are your fees?

How long will setup take?

These are the most common questions I am asked.

Are they the most important?

My answer is NO!

These are important questions but just about every company is close to the same answer.

Most companies are between $350 and $500 per file.
(We are $395 in most states)

Most companies are about 3-7 working days for your branch manager application to be approved.
(We are 2-3 days.)

Each state has different branch licensing requirements – so that step is dependent on which state you are in.

The questions that I think are important to ask are:

  1. Is your company HUD approved?
  2. If yes – how long have you been approved?
  3. Has your company ever been suspended or fined by HUD?
  4. Have any wholesale investors cut of or suspended your company in the last 24 months?
  5. How many branches do you have active?
  6. Does your company have any current buy back requests from investors?
  7. How long has your company been in business?
  8. How long has your company been involved in setting up branches?

In my next post I’ll explain why I think these are the most important questions to get answered if you are considering a net branch opportunity.

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