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December 12, 2022, 2:39pm
2
@mdaye Thank you for these very frequently asked questions.
ANSWERS:
That depends on myriad variables => location, interest rates, current real estate market, saturation of competitors, etc.
The answer to this question is a business owner’s closest held & strongly guarded proprietary data.
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There is a plethora of sagacious insights, guidance, and instruction that can quickly & easily be located within the Notary Cafe GOLDMINE
Most Notary Cafe difficult to locate Search
Several requests have been submitted over the years to BRIGHTEN the Magnifying Glass to the Notary Cafe Team Leads. That request has been reportedly passed onto the programmers of the site.
In the interim, to be helpful, I’ve inserted an image [see below ] to help members locate it & unlock the wisdom & knowledge of other members on the forums.
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Here are just a few of the thousands of available threads to possibly launch your research:
I hope the following helps you getting started
If you’re going to set yourself up as a business, go to irs.gov and get an EIN - takes 5 minutes - NEVER NEVER NEVER give your personal social security number to anyone - use your EIN for all your notary work, including using it to report your notary income on our tax return;
Set up a separate checking/banking account for your notary income - keep your personal finances and your business finances separate;
Get some business cards and start …
If you’re seeking the unadulterated truth, then please read further.
If, on the other hand, you’re seeking sugar-coated, misleading, & prevaricating statements, then by all means, please SKIP this Thread . . .
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STEP 1: There’s a paradigm shift that needs to occur when one charts their course to become a Business Owner by moving away from being an employee. If you’re CERTAIN that you’re ready & have got what it takes to chart your own course and be an independent contractor & business ow…
To preface this, I’ve been a lurker on these forums for quite some time and I’ve noticed a ton of expectations lately that seem too unrealistic. I’m a NSA out of Michigan and have been one for the past 7 years. I usually pull in at least 8k worth of business every month but it takes a LONG time to get to that point. I see a ton of newer notaries looking to make fast money or expecting SS or TC to come to them over seasoned notaries while they have very little experience.
A few tips that I’d sug…
@realtydocusigning No, you’re not doing anything “wrong.”
As with most businesses that are starting out, it’s a SLOW process.
In general, most do find building a business within this business sector to be a MARATHON, not a sprint.
Well, that is unless you live in a region that isn’t already saturated with Trained, Certified, & experienced Notary Signing Agents [NSAs] who are also seeking out Signing Orders OR if you have a family member who works at a Title/Escrow Company [T/EC].
I concur with the insights of LindaH-FL & mannie1950 (return to the teaching industry).
Also, there are 2 recent posts by CherylM that leave the sugar-coating behind & Tells-It-Like-It-Is . . .
Truly, anyone entering this business sector needs to change their mindset from that of an employee to that of a Business Owner. It’s a completely different paradigm and is managed differently as well.
Best Wishes with your decision.
I am just beyond frustrated with this industry. I do this as a part time gig to pay bills, I teach full time, but this industry is just asking for too much and pays too little. They really want me to do a refinance for 100 bucks that has 200 pages and want me to travel there. ALL the signing services are paying less. A refinance no matter how big should be no lower than 100 but these services constantly yelling me te the average is $80. Gas prices in my area are $3+. What idiots are out here doi…
It would be in your best interest to jot down all of the expenses associated with performing the services you provide within your service region to determine a baseline operating cost. Then, at that point, you can calculate the fees that will generate a net profit to determine if you’ll have a Profit or sustain a Loss at that rate.
There are many items to consider within your Overhead calculations. Here are a few to get you started:
• telephone expenses including cell phone equipment and month…
(CA) My business kicked off a little over a year ago and, at the outset, I was overwhelmed with order notifications, most of which I did not get because I was too slow to respond and my competition was everywhere. I knew nuthin’. But I was in the middle of the best time for notaries what with all the refi’s at 2% being done.
Today, the cupboard is bare. The refi boom is largely over and economic conditions in the U.S. are lousy and getting worse. I’m sorry to have to say so. Don’t wait around, …
@Sunpeaches11 Based on your website, you’re located in FL.
If you’re seeking the unadulterated truth in a response to your query, then please read onward.
If, on the other hand, you’re seeking sugar-coated, misleading, & prevaricating statements, then by all means, please SKIP the remainder of this Reply . . .
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STEP 1: There’s a paradigm shift that needs to occur when one charts their course to become a Business Owner by moving away from being an employee. If you’re CERTAIN that yo…
@pnevarez64 & @kingdomsocietyconsulting WHOA! EXTREME CAUTION should be implemented here! You both just made my head do a ‘Linda Blair Exorcist’ 360-degree spin on my neck!
