LeaseOne franchisee is a scam and I fell compelled to spread the word. LeaseOne makes approximately $2,400, 000 per year that comes from signing up 10 potential brokers per month. Over the past year, President Joe Angelo has spent approximately $100,000 developing a cool website to sucker you into thinking it's a professional organization, its not! Don't let that swindler in the suit and tie who appears on the LeaseOne website fool you. LeaseOne has no capital of their own; repeat they have no capital of their own!!! LeaseOne puts the majority of their leases through another leasing company, First Financial Brokerage in Princeton, NJ. The owner of First Financial is Robert Searcy who is Joe Angelo's buddy. Robert will take LeaseOne deals that LeaseOne Broker's submit and try to get them approved by a leasing company he does business with; often times it will be Leaf Financial. If under rare occasion your deal is approved, Leaf Financial will tack on a fee, First Financial will tack on a fee and finally LeaseOne will tack on a fee and you'll be left with a 24% interest of which you'll have to add to make your profit. I say rare occasion because 9 out of 10 times your deals will NOT be approved, repeat 90% of your deals will NOT be approved!!! The person taking your calls for approval at LeaseOne is Rick Lopez. The only deals Rick will be able to get approved are for business in existence for 10 years with a 900 credit score. If its approved you'll have to try and sell to these people at 12% - 15% interest; they'll laugh at you and call you a crook. Lease One's business is not to write leases, it's to sign up brokers/suckers who tried to put a few deals through, got rejected and sick of wasting their time and walked away. LeaseOne is in the businesses of selling the Broker program and they'll leave you high and dry once you finish the training in Boston.
I worked directly in marketing for Leaseone in the Boston office for a few years so I know the inside track. All I can say is stay away from the scam. If you want to be a lease broker many Leasing companies will do what Leaseone promises to do for free. To get started I recommend you first join the National Association of Equipment Leasing Brokers (NAELB) for $295 and utilize their resources for free. LeaseOne tries to write your leases through the funding sources who are NAELB sponsors so you'll ultimately end up trying to get your deals done through them anyway. It will actually be cheaper because you'll cut out the two middlemen you'll have to pay by going through LeaseOne. Go to the NAELB website http://www.naelb.org/index. Cfm and take advantage of what they have to offer. LeaseOne is a waste of time and more important, a waste of $20,000.
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