Good Bad Business

Mortgage broking looks like the perfect business.No stock.No shopfront.Flexible hours.And commissions on every deal.But behind that model is a very different reality.Pipeline pressure.Delayed income.And a constant need to generate deals just to stay afloat.In this episode of Good Bad Business, we break down mortgage broking using our MOAT framework, Margin, Operation, Advantage, and TAM, to understand what it really takes to make this work.We unpack: How brokers actually make money - upfront and trail  Why cashflow timing matters more than commission size  The role of referrals, approval rates, and lender relationships  And whether a broker can realistically hit $1M in year oneThis isn’t a passive income business.It’s a volume and consistency business.Because the deal doesn’t pay… until it settles.And we don’t want you to get into a pickle.If you’re thinking about buying a business, listen first.If there’s a business you want us to break down, send it in.And if you got value from this, share it with someone before they sign something they shouldn’t.Because we don’t want you to get into a pickle.