EMD is where you LEARN. Morby is where you EARN. 💡💰
I had a conversation with one of our awesome school members yesterday that was too good not to share with the whole community. 🎯 EMD funding is a great on-ramp. Low dollars, low complexity, and it gets you reps with deal submissions, and via CC the underwriting, title, etc. ... the whole rhythm of transactional funding. It can be a good place to build confidence. But here's the full disclosure most people won't give you: EMD deals rarely actually close. 📉 Case in point : we recently funded a $20K EMD on a 75-unit deal. Wired it, sat for 26 days… and it came right back. The EMD was returned and we got a small upfront fee for the ride, but no closing payday. That's not the exception. That's the norm. I'd guess that only about 1 in 20 actually close when buyers are using transactional funding. Use EMD to cut your teeth. 🦷 Just don't build your business on it. Here's where the real money lives --> Morby Method deals. These tend to be larger, structured deals where you're solving a more complex problem for the buyer. This leads to more meaningful fees on deals that actually fund (aka Close). 💪 And here's the beautiful part: when you chase Morby method deals, you don't lose the EMD deals ... they still come your way. Double closes, Echos, and EMDs all show up as side dishes when Morbys are your main course. 🍽️ Plant your flag where the deals close. Everything else follows. What's your experience? 👇 Does it align with this or are their other great paths you can share with the group?