Posted by Allen Mitchell on 3/5/09 4:38pm
Msg #279687

newby

Well, would anyone tell me how many closings they do in a month or a year and give me some insight as to whether I could expect to make some extra income. I am a finace guy at a auto dealership and well, business is slow. thanks for any advise

Reply by Lee/AR on 3/5/09 4:54pm
Msg #279689

Frankly, about all you'll learn is how to be slow in 2 businesses. Sorry, but things are rough all over.

Reply by Doris_CO on 3/5/09 10:01pm
Msg #279773

Loan closings in TX are different then in most other states. Some loans must be closed in an attorney's office. You need to research what your state laws are concerning mortgage loans.

Reply by GA/Atty on 3/5/09 5:00pm
Msg #279691

I don't know about in TX, but here there are LOTS of loans

closing. If I had a friend in your position, I would tell them to definitely give the signing agent biz a try.

There is very very little start up costs and almost no overhead, so you have little to lose even if it doesn't work out. And the field of knowledge you need to do it adequately is not very broad - most substantive questions the borrower may have about the paperwork can be referred to the title companies.

Good luck!

Reply by Allen Mitchell on 3/5/09 5:14pm
Msg #279693

Re: I don't know about in TX, but here there are LOTS of loans

Thanks GA/Atty
All my personal experience with closings are that not a lot of questions get answers from the notaries which is a good thing. Just wondered about startup costs are and is a laptop and printer all i'll need. In the car biz, I am the answer guy, In mtg & refi closings it would be nice not to have to answer a lot of questions. what can a guy make in a year if he did it full time?
thanks again
allen

Reply by JanetK_CA on 3/5/09 8:19pm
Msg #279740

Re: I don't know about in TX, but here there are LOTS of loans

Most of the questions you have, have been asked and answered a bazillion times on this forum. If you go to the first page of this forum, find the orange search button and go to it. I also suggest you click the "find a notary" tab above to find out how much competition there is in this area. Keep in mind that what you will see only represents a portion of what is out there, since many are not listed here. Also, what someone else who has been at this a while has been able to do doesn't necessarily mean that you will be able to, especially in the first couple of years.

Even though this isn't brain surgery, there is still a learning curve, like with anything else, and you will need to spend lots of time and energy marketing. There is an abundance of experienced people in most areas whose business is down from what has been done in the past. They're the ones who you will be competing against to try to get business.