Posted by Melody on 7/6/05 9:08pm
Msg #50166

It's time to get out of the Signing Agent business

It's time to get out of the Signing Agent business

The refi boom is over. Everyone who wanted to refinance their first mortgage to get a low rate has done so. If you do not get home purchase work, you will be seeing far less business now and in the future.

Lots of us Oldies are getting out of the business. The writing has been on the wall for a year or more. Despite what the NNA tells all its dupes at their "get rich quick" seminars.

Many other oldie NSAs are getting into inspection work or other real-estate-related professions.

As an NSA, you have proven yourself to be a Business Maverick. You want to work solo and control your hours and fees. There are many opportunities for work-from-home folks like us.

Check with your local Economic Development office to find out which industries are booming in your area. My area is booming with work for medical professionals and construction workers. Do some checking around to see what is needed in your area.

My research showed new home construction was booming. I recently started a construction company. Our profit margin is 40% of gross sales. If you can run a small service business, you can run any small service business. Think outside the box.

Medical transcription work is particularly profitable right now. One year of study and $3K of equipment purchase and you are making $30K a year. Braille transcription work involves the same timeline and less outlay for equipment to start making $30K.

For more home business ideas visit
www.BizyMoms.com
www.DrLaura.com I hate the woman. But the Work At Home section is very good.

Whatever you do, be a devotee of Guerilla Marketing. Read the book by Jay Levinson. Get a cheap copy at Amazon.com Used is only $9 at
http://www.amazon.com/exec/obidos/tg/detail/-/1932531297/qid=1120701939/sr=1-1/ref=sr_1_1/103-8210249-6320635?v=glance&s=books

Yes, I realize that all the newbies and SSs are going to shoot me down for this. Fine. I will not post responses to their blasts.

The writing is on the wall, gals. Keep doing Signing Agent work as you build your new career.



This post is meant to be helpful. I am not trying to discourage my competition. I am First Call for all TCs for work in my rural area. I have no competition. I am getting ready to bail from NSA work and I am trying to be helpful to YOU!

Reply by kwink/ca on 7/6/05 9:32pm
Msg #50168

Melody, what state and area are you in? I alos looked into..

home inspections and seems like there is a lot of time involved in doing them for less $. Is that what you have seen too?

Reply by Melody on 7/6/05 9:35pm
Msg #50169

Re: Melody, what state and area are you in? I alos looked into..

I haven't looked into inspection work for my area.

I suggest you ask BrendaTX or MargaretFL. They are the experts.

Reply by kwink on 7/6/05 9:48pm
Msg #50171

Re: Melody, what state and area are you in? CA?

Reply by Margaret/Florida on 7/6/05 9:54pm
Msg #50173

Re: Melody, what state and area are you in? I alos looked into..

I am phasing out of loan signings myself. I did one last Friday and one today. I have my HUD inspections, commercial and residential inspections.

I am going for more HUD training on July 21st in Atlanta. Then more Fema Training on 8/10 in Savannah, Ga. I also just got paid $500 for a commercial inspection that I did in June.

I get $65 for my HUD inspections and I can do 10 a day. I also do alot of other types on inspections for both residential and commericial type inspections. Most companies do their own training. I purchased the SOFI directory and signed up with all the companies just like I signed up with 300 signing/title companies.

Reply by kwink on 7/6/05 9:57pm
Msg #50174

Margaret, what are the requirments for doing HUD inspections

state real estate license? Other certifications/designations needed? Thanks, kwink/ca

Reply by Margaret/Florida on 7/6/05 10:00pm
Msg #50175

Re: Margaret, what are the requirments for doing HUD inspections

No. I was trained by the company that I work for. Now I am going attend a training session by HUD.

Reply by bp_WV on 7/6/05 10:01pm
Msg #50177

Re: Margaret, what are the requirments for doing HUD inspections

Here it is 90 classroom credit hours - 2000 hour apprenticeship under a licensed RE appraiser. Also, check with your state RE commissioner to find out what schools are recognized in your state.

Reply by BrendaTx on 7/6/05 10:49pm
Msg #50196

People who want to know about "HUD" stuff should

visit the **HUD** website to get to the source for answers on inspections.

Reply by Dogmonger,Ca on 7/7/05 12:27am
Msg #50222

I believe your are confusing inspections with appraisals

A large difference between the two:=)

Reply by Melody on 7/6/05 10:20pm
Msg #50183

Good for you, Margaret!

You Go, Girl!

You are an inspiration for all of us!

Best of luck to you!

Reply by Margaret/Florida on 7/6/05 10:29pm
Msg #50186

Re: Good for you, Margaret!

I got my FEMA certification In June, just in time for Hurricane season. I did inspections for FEMA last year, but I could only to exterior. To do Interior/Exterior FEMA inspections I had to get certified. I checked into home inspections but the training is intense and after the training you need to work as a trainee with someone before you can work on your own. With FEMA you do the training and you also have to work with someone also for a while. I am taking the advanced training on 8/10 and my HUD training on 7/21 is also advanced training. Both trainings are free, you just have to pay to get there and hotel, meals, etc.

Reply by FL Notary on 7/7/05 10:41am
Msg #50259

Margaret please email me.

I would like some info on how to get involved with HUD and FEMA. I would appreciate any information. Thanks. [e-mail address]

Reply by CarolynCO on 7/7/05 9:41am
Msg #50254

Any biz amounts to what you put into it. Additionally, don't put all your eggs in one basket and always have a backup plan.

As for the refi boom being over, I disagree. At the moment, the boom itself may be over, but refis themselves are not -- there will always be people needing refis, for whatever reason -- needing extra money, for getting out of credit card trouble, for college education, etc.

**Medical transcription work is particularly profitable right now. One year of study and $3K of equipment purchase and you are making $30K a year**

In my legal secretarial biz, I've run across several medical transcriptionists. Medical transcription pays 10 cents a line -- you've got to type a lot of lines to earn $30,000. Also, if people can't afford Premier memberships on NotRot or can't justify purchasing a laser printer, how are they going to come up with $3,000 equipment purchase to get into medical transcription? Before just leaping into anything, a lot of research needs to be done first.

It wasn't too long ago that we all heard that comptuers would do away with the paperless office -- which hasn't happened either. JMO.

Reply by Ernest_CT on 7/7/05 11:32am
Msg #50270

Medical transcription work

The people who are profiting from medical transcriptions are the people who are selling the equipment and the training. CarolynCO and others who warn that there is too much work to be done to make a little money are correct. Typing thesis papers, transcribing dictation, in short, any typing of hand writing or spoken words demands speed and accuracy that the average person will not have, nor be able to acquire within a reasonable time. Stenotypists make a very good living. But they have spent considerable time honing their craft, have spent significant amounts of money purchasing hardware and software, and usually have traveled frequently on short notice. Unless you are in a major metropolitan area, you're not going to get enough work locally.

Just as you investigated your notary business before jumping in with both feet, talk to (i.e., take to dinner) a medical transcriptionist with whom you would not be competing before you begin brushing up your typing skills. The same applies for medical billing.

Reply by SS on 7/7/05 2:08pm
Msg #50329

I appreciate your comment on this and I am not shooting you down. However you need to understand that if you choose to give up everytime there is competion....you will always be running.