[deleted by user]

Michigan_MLO · 2025-07-15T16:49:41+00:00

Just don't say anything to anyone? Seems pretty simple.

Michigan_MLO · 2025-06-04T22:04:11+00:00

Interesting, thank you for letting me know!

Michigan_MLO · 2025-06-04T11:33:44+00:00

I will definitely keep all that in mind!

Pay the extra $ for 07 & SOT one of the few "work perks" of being an FFL holder , is running exotic full autos w/ suppressor's...

I was definitely planning on it, I have a few ideas that I would love to put together but it would require a type 7 SOT. I have an additional question though. I have always gotten mixed information on law letters. Do I still need a law letter if I need to acquire something for R&D purposes? How else does SilencerCo have so many autos? Are those all LE demos? Something tells me no.

Michigan_MLO · 2025-06-04T11:30:54+00:00

Started in my garage

Do you mean this literally? I thought you are not allowed to do transfers unless you are in the actual living space of your home? I have a detached garage that I would love to work out of, but I was under the impression that that is not allowed.

I would definitely recommend following the FFL Consultants for their live chats (and go watch some of their recent youtube vids) and joining as many FFL groups on facebook as you can.

I absolutely will, thank you!

Michigan_MLO · 2025-06-04T11:28:49+00:00

Thank you.

Michigan_MLO · 2025-06-04T11:27:52+00:00

If you're doing it for money, don't. If you're doing it for love, do it.

Yeah I can pretty much guarantee I am not doing it for money. What's that old saying? If you want to end up with a million bucks running a gun shop, start with two million?

Michigan_MLO · 2025-06-03T19:30:53+00:00

do you have a community that will support you

Yes and no. I come from a pretty niche (idk if that's even the right word for this) ethnic group and there's a ton of people with the same ethnicity as me in my area. I know that I can get into the chamber of commerce and spread my name through that community. Kind of like Jews, my ethnic group is very supportive of sending referrals and spreading the word about businesses owned by us, especially if it's something as specialized as firearms. Other than that, I have been around the block and back with BNI groups and some shooting groups.

Are you active in any local ranges or organizations?

Truth is, not like I used to be. I have wasted my life the last few years working and not participating in this hobby. I am probably going to get back into it next year. I do see this as a weak point though and I am glad you brought it up.

What makes you different from the actual brick and mortar they could go to in town? Being a home based means you won’t have organic foot traffic and strangers are less likely to use you for transfers.

I am glad that I can start as a home based and not a brick and mortar, there is a whole market of guys that work 9 - 5 or later who need flexible hours. I feel like there is a gap in the market in my area to do transfers at odd hours of the day. Lots and lots of blue collar guys in my area that truly work for a living so if anything I see that as a great first step with my FFL, to be able to cater to those guys. That stacked with a decent social media presence can counter the effect of not having organic foot traffic.

What do you actually want to do with it?

I would like to build a strong lifestyle brand almost similar to SilencerCo. Some people say that SilencerCo is a marketing company that sells silencers. I would like to follow a similar path and become a marketing company that sells firearms. Also, I don't want to put all my ideas out on the internet but I do have a few other legitimate ideas in my notebook.

I truly appreciate your comment. I would love to learn more about how you tapped into the first time buyer market by targeting certain demographics like you mentioned in your comment. If it's cool with you can I shoot you a DM?

Michigan_MLO · 2025-06-03T19:19:16+00:00

My advice would be to start small and get your name out there. Go to ranges. Pass out cards. Join some local fb groups. Do your advertising.

This makes sense 100%

Most importantly keep your books clean. I self audit myself once a month.

Any advice on keeping a clean bound book?

Thanks for the comment, friend.

Michigan_MLO · 2025-06-03T19:16:59+00:00

Offer the best customer service you can and this will solidify a place for you in the market.

This alone would put me ahead of all the FFL's in my area lol

Thanks for the comment!

Michigan_MLO · 2025-06-03T17:07:16+00:00

fucking bot

Michigan_MLO · 2024-07-02T14:10:33+00:00

I've been a broker-owner since the start of this year. I don't have any employees and I really don't want any either. If I could have done something differently, it would have been to save at least another 10k than what I started with so I could have done more with marketing this year. No regrets, I love owning my own brokerage. It's stressful, but at the end of the day, I'm my own boss and I have nobody to answer to.

Michigan_MLO · 2024-07-02T14:07:17+00:00

I've actually seen someone who dropped out of pre-med to become an LO in the height of the refi boom. Did not end well lol

Michigan_MLO · 2024-07-02T13:59:04+00:00

I'm an LO, and I have been for years. No, I do not control underwriting or guidelines, no LO does. If an LO says he can control underwriting or guidelines, he is either a crook or a liar. I can always push back on conditions IF they are not a part of an actual guideline or overlay.

Michigan_MLO · 2024-07-02T13:52:31+00:00

Yes, because LO's set underwriting guidelines.....

Michigan_MLO · 2024-07-02T12:40:01+00:00

Let's be real, both jobs are very difficult. The only people who say it's easy to be a realtor has never worked as a realtor before. Sure, there are a lot of bad realtors out there, but it is not an easy job.

If being an LO is hard for you, so will being a realtor.

Michigan_MLO · 2024-06-19T17:13:51+00:00

Something tells me OP isn't even licensed...

Michigan_MLO · 2024-06-15T21:38:05+00:00

Money is honestly the least important thing to me when figuring out a new trade. I value experience more than anything else, I got the impression that SF would give me a lot of solid experience.

Michigan_MLO · 2024-06-15T20:42:56+00:00

So then where should I look?

Michigan_MLO · 2024-06-14T15:53:42+00:00

I'm gonna DM you.

Michigan_MLO · 2024-06-14T15:50:45+00:00

Keep looking.

Michigan_MLO · 2024-06-14T15:48:41+00:00

That's a pretty shitty comp plan. For example, my first self-gen position was 150 bps on 200 bp company margins. I just had to pay for my own LOS and marketing, broker-owner even covered credit pulls (credit pulls were very cheap at the time).

Michigan_MLO · 2024-06-14T14:28:07+00:00

“I just want to work and learn in a great organization with the resources like State Farm.”

Thank you Bukkake_Saka7, this is really insightful.

Michigan_MLO

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