Posted by wv/or on 5/16/12 8:48am
Msg #420956

Advice/opinions

Sorry if this is posted in the wrong place. I posted in the leisure also, but I am not sure if that was the correct place either.

I have been a part time signing agent for 4 years. I also work part time in another completely different field. My phone rings on a regular basis for notary work, which most of it I turn down due to the appointments are during the time I am working my other job, or I they are at night and I would be too tired to do them. I would like to do just notary work. When I complete a signing usually I feel good afterwards. When I am at my other job, I feel I don't want to be there. I am a little scared to leave my non-notary job, because it is part time, I get paid very well, and I receive a regular paycheck (but I am not happy). I worry if I leave something will happen and my phone will stop ringing and then I will be not in a good place. Then again, right now when I have a job, I think my phone will ring more since I can take more work and I can expand my business because I will have the time. I know what I want to do, but I am afraid to take the gamble.

Has anyone else made this decision? Any regrets?

Reply by MW/VA on 5/16/12 8:54am
Msg #420958

Most would advise you not to give up your day job,

especially in this economic market. Why not find someone to partner with, who can take the signings when you're not available?

Reply by Linda_H/FL on 5/16/12 9:02am
Msg #420959

This is a very fickle business..up one week, down the next

Last August I took a full-time 9-5 because my phone stopped ringing - the signing calls were just too few and far between for comfort...

Soon after I started this job my phone started ringing off the hook!! My husband and I were asking "Where were you the last few months?" Had my phone rung like that I would not have had to get a "regular" job.

Well, I cut my signing business back drastically but still keep up with things and take the jobs that meet my fee and fit my schedule while still working full time. I'm expecting to cut back to part-time work by year end and will concentrate on expanding my service hours at that time.

I guess what I'm saying is it's a financial decision only you can make. Are you getting enough calls in to support yourself on signings alone? I agree - that weekly guaranteed check is really nice. Perhaps you'd be better off building your client base and getting the work in, but don't give up your day job til you're sure you've got enough.

Whatever you decide, good luck. It's a rough decision to make.

Reply by C. Rivera Chicago Notary Services on 5/16/12 9:06am
Msg #420960

YES! And its true, its a gamble. But for me, it was more a

personal decision. I wanted to have the freedom to pick up my kids if they were sick from their respective illnesses, without having to worry about me losing my job. Plus the job I had at the time, a gov't one, was just too stressful and I was totally sick of it, and needed to get out. So I did. I've been in business since 2007, and I'd be lying if I said it was all roses. Its not. Its more hard work than you can ever imagine doing with a full-time consistently getting a pay check job. There's business licenses, self-employment taxes, marketing, and your competition.

I'd do a bit more research BEFORE you quit your other job. Then make the decision that is going to make YOU happy. As I am sure you know, nothing in life is free, and it only takes hard work, strong dedication and a little business savvy, to STAY in this type of business.

Oh, and try not to let the "run forest run" sorrow pusses scare you or bring you down with their negative vibes about our profession. It is truly great to work for yourself, set your own hours, and be your own boss!

Good Luck!

Reply by ToniK on 5/16/12 9:09am
Msg #420961

I would say it depends.

I am NOW a full time signing agent BUT that was because I was laid off my defense contracting job where I was making $85K +10% differential. Now I make half that BUT I work half the time as well. I dont do just notary work. My experience is that since my sole income is dependent upon me generating income, I am more into finding other generating income. I am now a background investigator, I have picked up inspection work and I moonlight as a fitness trainer and nutritionist (more of a hobby).

I have about 6 ways to generate income and I am part of 2 direct sales company. I am always finding new ways of being able to work from home. I can tell you the possibilities are endless. You just need to know where to look and how to get into it.

On facebook, I have a group where I mentor people into being entrepreneurs. I do this free of charge but I love to help others.

Now for you, you have to weigh what you need for basic survival. I dont know what your job is paying so you would have to evaluate that.

I will say that I have my resume up on the net, I still do interviews but I turn down jobs because I simply cant go back to work in an employee environment. I have turned down jobs where I would be paid $90K+ but because I know my life will be sucked dry, I wont be able to see and enjoy my family. To me being happy and enjoying my family (or whats left of it) are more important than getting a steady paycheck from a job I will despise and a boss that is a jerk.

Reply by ME/NJ on 5/16/12 9:21am
Msg #420963

Keep another source of income

This is not a easy business, it is a great PT income for now.

Reply by Bob_Chicago on 5/16/12 9:51am
Msg #420965

Not trying to pile on, but read the language of a typical RTC

"YOUR RIGHT TO CANCEL
You are entering into a transaction that will result in a mortgage, lien or security interest on or in your home. You have
a legal right under federal law to cancel this transaction, without cost, within three business days from whichever of the
following events occurs last:
1. the date of the transaction, which is xx/xx/xxxx; or
2. the date you receive your Truth in Lending disclosures; or
3. the date you receive this notice of your right to cancel.
.......

If you cancel by mail or telegram, you must send the notice no later than midnight of xx/xx/xxxx
(or midnight of the third business day following the latest of the three events listed above). If you send or deliver your
written notice to cancel some other way, it must be delivered to the above address no later than that time."

In spite of whatever date is printed on the dox the period starts on the day the RTC form is signed and ends at midnite. three business days after that date.
Some lenders want the dates as shown on the RTC to reflect the actual date of the signing and others do not.
So long as you have the borrower date their signature as of the current date, the RTC shoud be "legal".

Reply by Bob_Chicago on 5/16/12 9:54am
Msg #420967

OOPS. this belongs in earlier thread RE: RTC n/m

Reply by BobbiCT on 5/16/12 10:08am
Msg #420972

What you didn't mention ...

Are the FEES offered for the calls you turn down fees that you would accept for an assignment?

It is one thing to get a lot of calls. It is another thing to get a lot of calls offering below-minimum-wage assignments, locations 70 miles one-way, or from companies that are known for non-payment or "reduced fee because you didn't call within 5 minutes of arriving at the borrowers' home."

If you are getting calls from respected, reasonable paying companies and you have savings to carry you through the lean times, cover your out-of-pocket expenses while you wait for payment, and bank for state & federal taxes, little competition for these assignments in your area, then it is something to consider where you are unhappy in your part-time job (assume this job doesn't give you any vacation time and medical benefits).

Reply by Leigh/CA on 5/16/12 12:23pm
Msg #420990

I agree with most everyone.. I have been doing this for over 15 years.. DO NOT quit the day job. This is up and down work. Go to your day job and just remember you have something you do that you enjoy at the part time job.

It works.. I dont like my day job either.. I have to feed my son though.. But I LOVE doing notary signings.

Reply by jnew on 5/16/12 12:53pm
Msg #421001

November 2008 I received one call for closing all month and it cancelled. There definitely are no guarantees in this work.

Reply by Karla/OR on 5/16/12 1:16pm
Msg #421007

So interesting to see your post today because I am in your same position! I am, in fact, giving notice TODAY to quit my day job at a law firm. I'm a part-time legal assistant but have been totally bored for months! Hiring of new full-timers has taken much work away from the part-timer positions.

I have not looked back once since making the decision. I look forward to the independence and just answering to myself. Prior to taking the law office job my phone rang quite steadily for both GNW and NSA work. I continued to pick and choose the ones I wanted.

I have kept track of both missed calls and those calls I was not able to take because the signings occurred during the hours of my day job. I missed A LOT of jobs and this is part of what convinced me to finally quit. Of course there were dry times when my phone was not ringing at all.

Having other incomes (husband and pension) has also helped in my decision to quit my job.

Your decision will have to be solely on for shoulders based on your financial situation and how busy your area is with notary jobs. Ask yourself if you can survive a dry period?

Hope this helps in some small way. Best of luck on your decision.

Reply by wv/or on 5/16/12 4:46pm
Msg #421044

Thank you for taking time to give me your input. You gave me things to think about. I have actually thought about most of the comments already, that is why I have not done anything yet. I never put all my eggs in one basket and my husband has a job, so I am sure I will be fine. I think life is too short to be unhappy. Hopefully I will come to a decision sometime soon.