Using Mortgage brokers for Tenant Buyer leads

Has anyone considered using local mortgage brokers for tenant buyer leads?

I’ve been a mortgage broker now for several years and I think it would be a great idea to get their purchase turn downs as leads for your lease option properties.

I would think that the mortgage guy would be glad to give you his TD’s if you promise him that you will send them back to him in 12 mos for the purchase.

Anyone had experience with this?

Yes. Good idea.

I know I would be willing to do this. Free T/B leads that have already gone through the pre-qual phase would be very helpful. I like to have my mortgage brokers stay in contact with the T/B throughout the year to help keep them on track. Which I think increases the chance they will get their mortgage through you when the time comes as well.

Personally, from a both standpoints it’s a good idea.

Mortgage Broker - finds an outlet to help their clients buy a home and they get the loan down the line

Investor - free TB leads that are already in contact with a mortgage broker, and they obviously have a “buyers mentality” if they are trying to buy

I think it’s a win - win situation.

I have one I work with, I get more leads than I care for that I started to find them listed houses to keep them moving.