Fund My House’s marketed web site at “fundmyhome.org” fails to supply info on firm possession or administration.
I noticed a distinct URL in Fund My House’s advertising and marketing supplies (“realestatemortgagegrants.com”). Though hosted on a distinct area, this web site is Fund My House branded and fills within the gaps.
Fund My House is run by proprietor and President and Carlos Burattini. No details about him is supplied on both of Fund My House’s web sites.
Presumably as a consequence of language-barriers, I used to be unable to seek out something MLM associated on Burattini.
His Fb profile is for all intents and functions clean however does reveal he’s based mostly out of Florida.
That lead me to the Florida Actual Property Fee, who revoked Burattini’s real-estate license in 2010.
Burattini’s license seems to have been revoked as a consequence of public complaints. I wasn’t capable of get specifics on any complaints.
Contemplating Fund My House operates within the real-estate MLM area of interest, this isn’t a superb look.
Learn on for a full overview of Fund My House’s MLM enterprise alternative.
Fund My House’s Merchandise
Fund My House presents a mortgage pre-screening service.
The service is obtainable by way of Actual Property Mortgage Grants & Down Fee Help, Inc., which Fund My House claims is a 501 (c)(3) non revenue group.
Actual Property Mortgage Grants & Down Fee Help, together with an entire bunch of different firms, was integrated by Burattini in Florida.
Upfront prices for candidates utilizing Fund My House’s service embrace:
- $39 for a credit score report
- a minimal of $3000 for earnest deposits
- ~$450 for an appraisal report and
- $350 for a house inspection report
Regardless of these precise prices, Fund My House markets itself as permitting candidates to “shut with zero or little out of pocket” bills.
Fund My House’s Compensation Plan
Fund My House’s compensation plan takes $3200 from company sponsors, per utility, and makes use of it to pay commissions.
Fund My House Affiliate Ranks
There are 9 affiliate ranks inside Fund My House’s compensation plan.
Together with their respective qualification standards, they’re as follows:
- Affiliate – enroll as a Fund My House affiliate
- Bronze – recruit two associates
- Silver – recruit three associates
- Gold – recruit 4 associates
- Platinum – recruit 5 associates
- Sapphire – recruit six associates
- Ruby – recruit seven associates
- Emerald – recruit eight associates
- Diamond – recruit 9 associates
- Titanium – recruit ten associates
MLM Fee Qualification
To qualify for MLM commissions a Fund My House affiliate should
- recruit two associates; and
- generate one down fee help buyer yearly.
Retail and Recruitment Commissions
Fund My House associates earn $750 per generated down fee help buyer.
This buyer generally is a retail buyer or recruited affiliate.
Residual Commissions
Fund My House pays residual commissions by way of a unilevel compensation construction.
A unilevel compensation construction locations an affiliate on the prime of a unilevel workforce, with each personally recruited affiliate positioned straight underneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel workforce.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Fund My House caps payable unilevel workforce ranges at eight.
Residual commissions are paid as a cut up of $3200, collected from Fund My House’s company sponsors.
- Bronze ranked associates obtain $500 on degree 1 (personally recruited associates) and $450 on degree 2
- Silver ranked associates obtain $500 on degree 1, $450 on degree 2 and $400 on degree 3
- Gold ranked associates obtain $500 on degree 1, $450 on degree 2, $400 on degree 3 and $350 on degree 4
- Platinum ranked associates obtain $500 on degree 1, $450 on degree 2, $400 on degree 3, $350 on degree 4 and $300 on degree 5
- Sapphire ranked associates obtain $500 on degree 1, $450 on degree 2, $400 on degree 3, $350 on degree 4, $300 on degree 5 and $250 on degree 6
- Diamond ranked associates obtain $500 on degree 1, $450 on degree 2, $400 on degree 3, $350 on degree 4, $300 on degree 5, $250 on degree 6 and $150 on degree 7
- Titanium ranked associates obtain $500 on degree 1, $450 on degree 2, $400 on degree 3, $350 on degree 4, $300 on degree 5, $250 on degree 6, $150 on degree 7 and $50 on degree 8
Becoming a member of Fund My House
Fund My House affiliate membership is $49 plus an ongoing month-to-month payment.
Fund My House refers back to the ongoing charges as “persevering with training” however fails to reveal prices.
Replace sixth December 2021 – Carlos Burattini has been in contact to advise Fund My House doesn’t cost associates till they’ve earned a fee. /finish replace
Conclusion
The crux of Fund My House is whether or not the vast majority of candidates are associates or retail prospects.
One Fund My House advertising and marketing slide states:
House-buyers are required to publicize their “Down Fee Help” on their social media after they get a “clear to shut” earlier than they shut.
This women and gents will end in extra Down Fee Help recipients so that you can service.
One would suppose a few of these testimonials would function on Fund My House’s web site, however they don’t.
Digging into Fund My House’s compensation plan, commissions are paid on $3200 collected from candidates.
The supply of this $3200 isn’t specified. It isn’t detailed in applicant prices, so I suppose it’s sourced from mortgage funds.
Anyway from there it’s fairly straight ahead, $3200 from candidates is cut up and paid down eight ranges of recruitment.
To earn on all eight unilevel workforce ranges you must recruit. And there’s no retail quantity necessities.
Remember that personally sponsoring new affiliate members is likely one of the solely 2 crucial qualifiers wanted to obtain overrides.
All Fund My House associates should do to stay eligible for commissions, is to recruit associates and herald one applicant a 12 months.
That applicant generally is a recruited associates, probably making a closed-loop pyramid state of affairs.
The excellent news is ascertaining whether or not that is the case is straightforward. What you need to ask your potential upline is out of the final three candidates they’ve generated, what number of have been associates.
It’s doable that they haven’t referred 5 candidates, so work with no matter quantity you’re given.
Notice that in case your potential upline hasn’t generated any candidates and so they’re busy attempting to recruit you, there’s a superb likelihood they’re desirous to earn off your efforts.
And keep in mind that is perhaps a mirrored image of Fund My House’s service retail viability.
Ideally what you need to see is a cut up between recruited affiliate and retail candidates, weighed in favor of retail candidates.
If the vast majority of referred candidates are recruited associates, that Fund My House affiliate is working their enterprise as a pyramid scheme.
And if that is widespread all through the corporate, then Fund My House itself is working as a pyramid scheme.
Personally once we’re speaking mortgages, you need full disclosure.
Fund My House presents itself as a faceless company run by somebody no info is supplied about. The corporate’s advertising and marketing movies are finished on a budget with robo voices.
One very last thing I’ll contact on is the authorized aspect of the enterprise. What Fund My House presents and the way by which they current is hardly convincing.
If you happen to’re severe about acquiring a mortgage have a lawyer run by way of what their proposing. Property regulation isn’t one thing I’ve any expertise in so I can’t provide you with any recommendation there myself.
Method with warning.
Replace tenth December 2021 – Following a backwards and forwards e-mail change, Carlos Burattini has disclosed that Fund My House doesn’t pay commissions out of shopper charges.
FundMyHome.org DOES NOT understand any a part of the Charges above.
If we rule out shopper charges, naturally the observe up query is what’s the supply of the $3200 fee paid out?
Burattini states “we pay our Affiliate Members from Company Donations”.
A listing of company sponsors is supplied on Fund My House’s web site:
That is definitely a novel compensation mannequin however doesn’t rule out Fund My House working as a pyramid scheme if the vast majority of purchasers are additionally associates.
That is acknowledged as a chance. When reviewing Fund My House I didn’t see something overtly suggesting the vast majority of Fund My House purchasers have been associates.