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Global Broker Training Systems

United States,
New York

Consumer complaints and reviews about Global Broker Training Systems

Canadia Send email
 
Mar 4, 2012

Highly Disapointed- Waste of Money

I just think that anybody who has to sell me this hard on something is not being 100% honest with me. So I'm not going to take the bait.
Formerstudent38 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

Hmmm...sounds like Newman36 is a spokeperson for the company...my experience is quite the opposite. I gave this business everything I had and could not get one deal done with their lenders. I had good credit clients that I brought to the table and their lender's rates would cause me to lose every deal. Finally I had to cut bait and move on to a Real Career.
WallySimpson Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

A little over 5 years ago my partner invited me to join Global Broker Training Systems as his quest. Since my financial obligation was zero, I said "sure way not." In the past I had done some commercial transactions, so I thought I knew pretty much everything. I was amazed at how little I really did know. The trainer was excellent. He led the class through all aspects and repeatedly stopped when anyone had questions. The lenders that I met, seemed sincere in helping close any potential clients. If you follow their qualifications approval is pretty much guaranteed. I left the training excited and ready to start building my business. Over the years my business has grown steadly and I look forward to continued success .
WashNRide Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I just went through the training two months ago. I am surprised to read the complaints posted on this website. I thought the training was well worth the money. I do not come from a finance background (previously I owned a car wash) and I was still able to grasp all of it. I started my business as soon as I got back home & I already have a lot of activity & have funded two transactions already. I can't wait to see what the future holds for me in this industry.
Newman36 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I think Global is great. The best training ever.
Newman36 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I took the training about two years ago and I must say it changed my life. I was working for a large company as a senior manager and was let go and replaced by a recent college graduate. I looked at many different businesses to go into because I never wanted to be in a position where other people were in control of my future. I looked at many different types of businesses and felt that the global program was a perfect fit because every business owner needs financing and the banks were not lending. I looked at a few different programs and decided on Global because they have been in the finance business for over 30 years. Phil Dushey taught the program I attended and that was a major plus. He has so much knowledge of the business but taught us in a way it was easy to understand. The lenders were great and I met the people who I would be working with after I left the training. The selection of the types of financing you could do just about covered anything a business would need. As a matter of fact I closed my first transaction two weeks after the training and I was able to get my client a $50, 000 piece of equipment which I made about $5000.00 and also got them a working capital line of credit which I receive a healthy residual check every month. I have seen some people complain about many things, like high rates and the lenders not approving loans. All of this is nonsense. Each lender gives you their lending guidelines as to who they will approve. If you bring them someone who fits the guidelines they are approved.As far as rates go, Global gives you a broad array of lenders you are approved with that go from very low rates for great credits to higher rates for riskier deals. Their follow up and support is great as well. Whoever complains is just not working the business. If you put in the time and follow what they teach you will make a lot of money and your phone will start ringing off the hook if you follow their marketing program. Again Global was the best thing I ever did and I am making more money than I ever thought was possible.
INBEE Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I took the course in 2007 at the brink of the financial collapse. Things needless to say, were challenging the first couple of years. You can now check out my websites www.inbeefinancial.com www.inbeefinancial.blogspot.com and www.financialwinners.blogspot.com we are doing very well. The key is it takes persistence and work. Not all the lenders from the class will fit you niche. Phil never claims that he is the answer to your wealth he only offers you entrance to the lucrative career of the finance industry. I thank Global for their start in the industry that I built my fortune in.

Nathan
Mbroker45 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I did not sign up with these guys, ...The scary thing is the mintute they found out I was considering another franchise, they quickly "dropped" their price from $19, 995 to $15, 000 and the deal was if I did not make $50, 000 in the next 4 months then I dont have to pay back the $5, 000. What a complete shame! They know dame well that it is very highly unlikly to make 50K in 4 months just starting out so they know that it will never happen. I believe their goal is just to take my 15K...I did not take the bait from these slick salesmen. I almost drinked the COOL AIDE here and I hope others are smart enought to realize what these guys are doing...
Ddses Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

Well I checked into the company and their is ONE complaint on Ripoffreport and THREE positive rebuttals. I have looked elsewhere and found a couple of complaints here and there, but more positive then negative. So looking at this complaint that you only made $3, 500 in 4 months on an investment of $15, 000 and you consider a complete waste. BUT, when I did the math, if every 4 months for the next 10 years you only made $3, 500 every 4 months---that's $10, 500 per year. In less than 2 years you would have recaptured your investment of $15, 000. BUT in 10 years, you would have made $105, 000 in income from your $15, 000 investment, an increase of $90, 000, or an annual rate of return of 67.6% of your $15, 000 investment. I don't know any bank that you can invest $15, 000 and receive 67.6% return on your investment. But if you take that same $15, 000 and invest in a CD at 5% (if you can find 5%) at the end of 10 years that $15, 000 would be worth $24, 433...A far cry from the $105, 000 you would have generated with the Broker system. Anything business takes work, and any NEW business take time, dedication and hard-work to get it off the ground. I think it depends on how hard you are willing to work to make it work. But, based on your experience, the rate of return could work out nicely. Is it possible that your disappointment was with the fact that you weren't making $10, 000 a month out of the gate?
Ddses Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

jmackjr...unfortunately, NO business can guarantee that you will make money and that your money will be safe...Its a risk you take when you invest your money...There are too many factors at play, including self motivation...Some people get discouraged and give up on a project within a few months. Success takes work, and perseverance. It takes belief in yourself, and in whatever business that you are in. What if the wright brothers, thomas edison, ford, and many other inventors had given up within a few months of their visions or dreams? We wouldn't have many of the inventions that we have today. Many people have road blocks in business, and they give up, because its too much work or too hard, or everyone says no. Well that person really needs a job, because that's just how business is. And if the leader isn't motivated, then failure is a guarantee. Oh, yeah, and you can't put your faith in a job either, because they can't guarantee you that you will always have a job.
Daytrader192 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

FYI: I found some negative comments similar to these on rippoffreport.com with these guys. Just type in global broker training systems. Dont know if these guys are good or bad...
Debss2004 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

I usually don't go on rants on forums such as this but I was seriously miss lead by these guys. I took their class this past summer and I have to admit that they did a great job on selling me on their program but severely mislead me on the aspects and details of their program. First when I brought up the issue of other complaints I read on the internet they gave me the used car salesmen pitch that someone dropped out of their program and they still had their deposit so now suddenly they can offer me a "reduced" rate of $15, 000 if I signed up now. As much as a red flag that was, tt sounded enticing and I took the bait and attended. Second the majority of lenders you get are for equipment leasing and a few others that do different things. This was extremely disappointing as they stated we would get several lenders in other areas of finance that I expressed interest in and wanted to make sure they had. They yes't me to death just to sign me up. Also the majority of lenders you get are very very EXPENSIVE with high payments and lease rates to your customer. All throughout the class they tell you that this is the right stuff to concentrate on and focus on people with bad credit to try to sell these high interest rate loans and leases and make "huge" commissions on. So I did this and every customer a ran across that fits this profile cursed at me on the phone when they figured out their lease payment equates to a 40% rate of return that the lender wants. I finally booked one deal out of 30 applications and made $3, 500 over a 4 month period. Hardly a career with these statistics with dedicated man hours put in for 4 months. There were also numerous deals that I could not get done with the lender base you get. I brought this to Phil (the owner's) attention to try to help me with placing these deals as they were complex and required structuring and I got a simple answer of "don’t concentrate on these". "You are better off doing other types of deals". This is my support?? So with my frustration I had to get these deals done elsewhere on my own and had to go through another broker that had contacts for the appropriate lending sources for these particular deals. I had to split the commissions with the broker I found and got the deals done but the point here is I could not do them through the lenders I thought I paid 15K for. I also have been in contact with the other people that I was in class with and they have had worse results then my story and have pretty much given up on this business. I have owned several businesses throughout my life (one in the financial services sector) but this business is far from what they portray it to be .
Gerry2323 Send email
 
Feb 23, 2012

Highly Disapointed- Waste of Money

DON'T DO IT!!

I truly don’t understand how these guys get away with taking people's money. I totally agree with (debss2004). I to attended the training this year and had the same experience. The lenders they give you are all very high rate lenders and the majority of them are all leasing lenders. That is because that is all the owner does...broker leases. You can find these same leasing lenders through various leasing associations which brings me to another point. I asked some of these leasing lenders once out of the class if they get a lot of business from past Global students and they chuckled and said not really. I too tried to keep in touch with the other people in my class and they have ALL moved on to other things due to their in ability to get things done with their lenders. There are a few other lenders that do different things but I felt that their program was missing several lenders that do other types of finance. The reason is the clients I get to date, have other finance needs in which I can’t get done through their lenders which leaves me searching on my own. The company puts more energy into advertising that they are next to wall street (which is really a rented conference room in a fancy building) and the theatrics of selling the good life then really training people properly for this business. All that goes away when you leave there and soon realize that you bought nothing more than a couple of leasing lenders and lenders that put out very high rates which you can’t sell.

All in all, they have great salesmen but a very poor disapointing product.

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