Posted by HrdwrkrVA on 8/2/11 6:15am
Msg #392260

$40 edoc HELOC - almost ran off the road lol! n/m

Reply by ME/NJ on 8/2/11 8:08am
Msg #392264

depends

How far, package size (most HELOCs are 30-40 pages) time of day and did you make money during time period.

I would do it if it was within 10 miles and under 40 pages and nothing on the books. But I like to make money. Always better to make a dollar when nothing else going on.

Reply by FGX/NJ on 8/2/11 9:29am
Msg #392270

Re: depends

Glad I don't cover Ocean County.

Reply by A S Johnson on 8/2/11 9:34am
Msg #392272

Re: depends

If you can make a dollar on any deal for a $40 fee, then have swamp land for sale.

Reply by ME/NJ on 8/2/11 10:40am
Msg #392282

Like I said

Depends... Time of day, how many miles, and size of package. If you want to be closed minded and rather sit behind a computer or watch tv when you can make money for something that may only take an hour total of your time for 40 bucks..

Then you do not earn money, you want it handed to you

Reply by NJDiva on 8/2/11 10:53am
Msg #392285

Michael, you really are too much...

Like FJX said, I'm glad I'm not in Ocean County. Ugh

Reply by ME/NJ on 8/2/11 11:14am
Msg #392290

Fine by me, already know of 3 notaries that will do

Service Link and Nations for 65.. They need to do 2x times the amount of work to equal one of my normal runs.

Last 3 months have be golden, I'm hungry to make money like before and while the iron is hot I'm going to fill up any free time I have that makes it worth my while. Because what I know of this industry as fast as it comes it will go just as quick.

Hey I have expensive habits and need to pay for them..lol Next trip Labor Day weekend week out in LA.. Makes 4th vacation this year, guess saying no to everything would of paid for it..lol

Reply by lowerAL on 8/2/11 12:36pm
Msg #392300

Re: $40 for HELOC. What is your profit margin?

Have you considered the cost of printing the docs, such as your paper cost and toner cost. The gas the wear and tear of your automobile, and your time. An hour to print, trip, close and close out the proper paper work. You must be super man. All that in an hour. Even if they lived in my house, and hour is pushing it really hard. Why would you even consider selling yourself short. You are an example of why we are all being cut. I am sure your 40 fees are not sending you to LA for the weekend, if they are you must be swamped. You could even raise your fees and maybe not have to close so many and take 5 trips a year. Just saying!

Reply by ME/NJ on 8/2/11 1:08pm
Msg #392315

Can people read?

I said depending ... Now most of my business has been from title companies, I know for the last 3 months I've been doing very well, also know it can stop as quick. I know when to say no, been around for many years.

People can do what ever you want, I know there are 5000 notaries within 30 miles of me and this board on has maybe 2% of what is out there. I have 3 companies and semi pro gambler I know how to make money and good money.

Reply by Linda_H/FL on 8/2/11 1:24pm
Msg #392321

People can read Mike...what I think is puzzling to them

as it is to me, is how do you retain a profit doing 40 page packages for $40? Time to print, time at table, time and gas to drop docs, paper, toner.... I don't see the profit there.

I'd rather fill down time with money too - but $40 to close ANY loan (other than a short mod) doesn't cut it IMO.

That's what we don't understand.

Reply by Michael Edmonds on 8/2/11 1:42pm
Msg #392325

Re: People can read Mike...what I think is puzzling to them

ok..

10 miles- car gets 30+plus mile per gallon- cost 3.00
paper 80 pages and toner - 5.00
time 1 hour max

Now depending on time of day and other things tell me you cant make money. My GN work is 35 bucks and did 1200 in July.

Now in business some things make more profit than others but it's the overall picture that counts.

like I said people can run things the way you want, I make money.

Reply by NJDiva on 8/2/11 10:48pm
Msg #392414

Then go make money gambling...please...

stop participating in destroying and degrading the business. Have some compassion and decency for your fellow comrades.

Reply by Scriba/NM on 8/2/11 12:28pm
Msg #392299

Re: $40 edoc HELOC - almost ran off the road lol!

Some people have no sense of business. Previously no one would have entertained a $40 fee for anything. I charge a $50 trip fee to get a simple Quitclaim signed and I get it. However, with all of the slavering newbies slinking about (thinking they're going to get rich in the loan signing business), the overall market is being ruined by their blind acceptance of insignificant fees offered by less than reputable SS's. I have to laugh when I see them crying over $$$ owed to them from scumbucket lowballer companies that have gone out of business. If people want to work for peanuts, they should apply at McDonalds and quit muddling this market.

Reply by lowerAL on 8/2/11 12:38pm
Msg #392302

Re: $40 edoc HELOC - almost ran off the road lol!

Amen Scriba!

Reply by KSMONotary on 8/2/11 4:14pm
Msg #392357

Re: $40 edoc HELOC - almost ran off the road lol!

He has already outlined the profitability of doing this assingment for $40, and his figures seem legit.

To call him a slathering newbie becasue he is willing to fill his time with less profitable assignments while waiting for the more profitable assingments is a bit harsh and a little irresponsible.

The issue is you think your time is more valuable then his. A bit egocentric if you ask me.

Reply by jba/fl on 8/2/11 5:16pm
Msg #392366

You do them too, then? n/m

Reply by KSMONotary on 8/3/11 9:26am
Msg #392455

Re: You do them too, then?

This exact situation, no. But have I found uses for my services during downtime to at minimum keep money moving, while making more contacts...yes.

I think SA's that have the mind set that "I dont leave my house for less then..."are either out of this business areadly, on their way out, or will be out soon.

Roll with the punches...

Reply by Linda_H/FL on 8/3/11 9:56am
Msg #392459

I accepted a mod for $40 - 2 miles from home - for just that

reason - contacts....bad thing was it was a 30 miles rt to drop the package - so I ran some personal errands to make the trip worthwhile.

As for the contacts? Haven't heard from them since.

Reply by Teresa/FL on 8/3/11 9:58am
Msg #392460

I don't accept $40 assignments, but

I have been known to drive a little farther than normal for my standard fee if I can also work in some marketing in an area that I don't usually travel to.

I will look up TCs in the area ahead of time and plan on dropping in on them and introducing myself. I leave my business card and other marketing materials if they are receptive. This works only if the appointment is during regular business hours, but I have had some success with this method of marketing.