I haven’t posted for quite some time. However, I must move my hands out from under my rear where they have been in order for me to keep my fingers off the keyboard, because my blood pressure is sky high, and my tongue is getting shorter and shorter from biting it harder and harder after reading your some of posts.
I applaud you on the research you have done on loan documents. I only wish you would take the same amount of time to research the financial end of your business. You talk about *fair* -- fair for everyone but you. You haven’t been doing this for an entire year to be faced with the reality come income tax time. What you charge as fair is not free and clear pocket change. Go back and read the boo-hooing and sticker shock of first full year signers’ income tax posts.
We just paid our house off 12 years ahead of schedule. Does that mean that I don’t need as much money, so therefore, I should lower my signing rates? I not only don’t think so, I know so – it’s not going to happen. I’ve been self-employed since 1992. I know down to the penny what it costs me to operate a business, and I know the profit margin I need for retirement, vacations, cost-of-living, and just plain splurging. It was with my business planning and profit that my business put our son through college without loans of any kind and has enabled us to be free and clear of house payments.
Colorado has the highest automobile insurance rates in the nation. Self-employment didn’t lower my rates, but instead increased them because I am driving more. Gasoline, tires, vehicle maintenance costs have all increased. The cows and chickens aren’t benefiting from the sky rocketing price of milk and eggs at the grocery store – but if I want to drink milk and eat eggs, I must pay the higher price. Utility bills last winter went from all time previous highs of $100 per month to well over $200 per month. With the value of houses rising, property taxes rise accordingly. You can bet your @ss that my once monthly house payment is NOT going to be used to pay these necessities.
You may be busy and you may be making money, but I’ll be around after your burnout. I’d much rather work smarter than your own way of working harder – with me doing 2-3 signings to your 4, 5, 6 or more signings just so you can say you charge fairly.
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