So... I was just (unexpectedly) offered a job...

[TitanDiddly]

Originally posted by: virtualgames0
It sounds a bit like the herbalife scheme

Yeah.. "100% commission based".

 

[yhelothar]

Exactly seth..
All you do is call all your friends and be a telemarketer and beg them to make a loan..
then print out tens of thousands of flyers to post all over the place
Just go to the training, I bet that's what they suggest.

 

[SethK28]

A scam rips people off and does not contribute back. This type of job has a very very very slim chance for success. But you do get paid (somewhat) Yeah you'll get paid but work long hours, you will work when the 8-5 crowd gets off, your appointments will either be all weekends or after 5PM. If you want to be even marginally successful you'll be on the phone all day cold calling trying to get leads and appointments.

 

[RabidMongoose]

Originally posted by: CTrain
Dude, screw the job.....we want to hear more about the "I love history" girl.
Did she came out and tell you she was, or you guessed ??

I don't get the connection of her being in the loan business to making commercials.

Answer this question!!!!!!!!!!!!!!!!!!!!!!!!

 

[imported_Strang]

Originally posted by: SethK28
A scam rips people off and does not contribute back. This type of job has a very very very slim chance for success. But you do get paid (somewhat) Yeah you'll get paid but work long hours, you will work when the 8-5 crowd gets off, your appointments will either be all weekends or after 5PM. If you want to be even marginally successful you'll be on the phone all day cold calling trying to get leads and appointments.

I guess it depends on how you define scam. I mean, even pyramid schemes can have beneficial aspects for the sucker.

 

[ABitTooSpicy]

Originally posted by: SethK28
It's the same crap as commission based insurance sales, they flash the LOOK HOW MUCH MONEY YOU CAN MAKE in front of everyone. The job can be done by anyone, little or no education is required. Wanna know why they are hiring 15 people? Because 90% of them will fail/wash out. Ever heard of Primerica? It is the same style job. The company takes very little or no risk in "training" you while you risk everything, no benefits, no salary. You work for 2 weeks and make 1 sale the company takes in $500 and has made a profit, while you maybe made $100. They hire 15-20-30 people they have ZERO expenses for those people, say 40% of those hired makes a sale, they company has made a sh!tload, while they maybe paid out 500 to the people they hired.

Yeah i went to one of those Primerica ice breaker meetings about 2 years ago... where they try to get people hired... my friend worked with them for about a year, made decent money but month to month income varied higly, he ended up quiting and joined the CIA...

My 2 cents, dont do it!

 

[imported_Tomato]

Originally posted by: RabidMongoose

Originally posted by: CTrain
Dude, screw the job.....we want to hear more about the "I love history" girl.
Did she came out and tell you she was, or you guessed ??

I don't get the connection of her being in the loan business to making commercials.

Answer this question!!!!!!!!!!!!!!!!!!!!!!!!

She came out and told me. She and the president said that 95% of the people they are hiring to work for this company are actresses/actors/models, who want a flexible job that can pay the bills (and pays more than waitressing/bartending). She told me about the Old Navy gig, and is also an actress regularly going to auditions for bigger work.

 

[Zenmervolt]

I get "offers" from investment houses all the time because they want me to sell stuff as a Financial Advisor. I'm just not that slimey.

It takes whole lot of "I don't give a rat's arse about anyone but me" to make it in those industries. Anyone who tells you that you'll be "educating" your clients is lying. All they want from you is your warm market. You perform or you perish, they don't give a crap about you individually.

I can't make the decision for you, but my own decision was that I wouldn't be able to live with myself if I were doing the things necessary to be successful at those sorts of jobs.

ZV

 

[HamSupLo]

I thought you wanted to be a nurse?

 

[pyonir]

been in business only 3-4 months? hell no.

What happened to Nursing school?

 

[imported_Tomato]

Originally posted by: HamSupLo
I thought you wanted to be a nurse?

I want to go into the medical field, but I won't be accepted into a program for at least 1-2 years. Until then, job = good.

 

[yhelothar]

I bet there's an initial signup fee, where they make the money from.

 

[imported_Tomato]

Originally posted by: virtualgames0
I bet there's an initial signup fee, where they make the money from.

No, no initial signup fee. Loan officers will make 25% per transaction during training and 50% (which they say is higher than the industry norm of 40%) when hired full-time/permanently. So if you process a $5,000 deal, you'll get a check for $1,250 if you're in training or $2,500 if you're full-time.

 

[AgaBoogaBoo]

Haven't read it, but how old are you?

If you can, I'd take the risk

 

[imported_Tomato]

Originally posted by: AgaBooga
Haven't read it, but how old are you?

If you can, I'd take the risk

I turned 24 yeseterday.

Rent in LA for the 1bd/1ba I share with my fiance, however, is $1375/month, and right now I only have $1k in my bank account (but no debt). So... I guess I could take a risk because I have nothing to lose, but at the same time... I can't afford to bomb completely or I'll be hungry and homeless (pretty much literally, fiance as a grad student only makes $1k/month).

 

[KLin]

I wouldn't take the job just for the fact that I would have to tell the customer anything and everything to get them to sign on the dotted line. I'd rather be a waiter than do that for a job. just my opinion.

 

[kaizersose]

you NEED to watch "boiler room".

 

[isasir]

I've actually just signed up for a similar gig part-time last week. I'm doing my regular job still, and this is just supplemental income. Yes it's a MLM and if I wanted to do it full-time I'd likely have to put up flyers, call a bunch of ppl. etc, but honestly I think I can still pull a couple of deals and make some decent extra cash, so I'm giving it a shot. I have a total of one connection right now, but that one connection has 4 deals lined up for me already, and it's only been one week.

 

[imported_Tomato]

Originally posted by: isasir
I've actually just signed up for a similar gig part-time last week. I'm doing my regular job still, and this is just supplemental income. Yes it's a MLM and if I wanted to do it full-time I'd likely have to put up flyers, call a bunch of ppl. etc, but honestly I think I can still pull a couple of deals and make some decent extra cash, so I'm giving it a shot. I have a total of one connection right now, but that one connection has 4 deals lined up for me already, and it's only been one week.

Nice, what are the hours of your current job and what hours will you be working part-time?

 

[dquan97]

Any way to keep both jobs?

 

[everman]

Same type of MLM scam stuff etc etc waste of time.

 

[isasir]

Originally posted by: Tomato

Originally posted by: isasir
I've actually just signed up for a similar gig part-time last week. I'm doing my regular job still, and this is just supplemental income. Yes it's a MLM and if I wanted to do it full-time I'd likely have to put up flyers, call a bunch of ppl. etc, but honestly I think I can still pull a couple of deals and make some decent extra cash, so I'm giving it a shot. I have a total of one connection right now, but that one connection has 4 deals lined up for me already, and it's only been one week.

Nice, what are the hours of your current job and what hours will you be working part-time?

Well if you exclude today (working late....), my hours are 9 - 5:30. There is no actual part-time hours for this job tho', it's just whenever I've got someone looking for a mortgage or refinancing. I spent 3 days last week putting in about 4 hrs. after work, but that's also because I'm just starting to learn the business. Does this gig offer you the ability to work part-time and do your own hours?

BTW, yes it's a MLM, and normally I run FAR away from those things (Got hit up a few times by Quixtar/Amway ppl.), but I do think that this has potential.

 

[hevnsnt]

Tomato, I did not read all the replies, but PLEASE DON'T DO THIS.

I have a friend that tried to do this and let me tell you..

1) It puts a lot of stress on the friendships you have. Your job at first will be to extract names & numbers from your friends. Then call those numbers and then try to sell, sell, sell. I had a hard time selling out my friends names and numbers to my buddy.

2) Don't take any job that is 100% commision right off the bat.. That is a good indication that in 3 months you will have been living on your credit cards, because you have not made a sell yet.

Please take my advice, I would hate to see another person sucked into that scam. Yes lenders can make a ton of money, but think of it this way. If you were going to get any financial advice, loans, etc.. Who would you want to talk to about it? Would YOU want to talk to YOU?

 

[imported_Tomato]

Originally posted by: hevnsnt
Tomato, I did not read all the replies, but PLEASE DON'T DO THIS.

I have a friend that tried to do this and let me tell you..

1) It puts a lot of stress on the friendships you have. Your job at first will be to extract names & numbers from your friends. Then call those numbers and then try to sell, sell, sell. I had a hard time selling out my friends to my buddy.

2) Don't take any job that is 100% commision right off the bat.. That is a good indication that in 3 months you will have been living on your credit cards, because you have not made a sell yet.

Please take my advice, I would hate to see another person sucked into that scam. Yes lenders can make a ton of money, but think of it this way. If you were going to get any financial advice, loans, etc.. Who would you want to talk to about it? Would YOU want to talk to YOU?

Thank you for the candid advice, hevnsnt... I guess this is the sobering side they don't mention during the interview. Right now, most of my friends are struggling to make the rent every month, and taking out a loan for a house is a pipe dream... I lost touch of most of my wealthier friends after I got engaged, and now would be an odd time to call any of them up to ask for hookups.

The 100% commission worries me, because I do need to be able to make rent and basically survive in LA. Racking up enormous credit card debt by putting all my eggs into one basket scares the hell out of me, and I just wouldn't want to do that.

How did your friend end up faring in the business?

 

[hevnsnt]

Well, lets just say not well.. Right now he has finally reached the understanding that he won't make it in this business, so now he is even farther in debt than before. This ordeal is far from over, actually we are just now in the thick of things. He is trying to find another job, just trying to make the rent.

Straight out facts: He has been there for 4 months. He has made one sell. In order to get a paycheck, you have to sell at least 3-4 (can't remember). 4 months working w/o a paycheck What sucks is I can't tell him how I fell about it... He bought into the flash when he started, and I had a feeling this is where he would end up.