I have had one signing and a multitude of texts asking if I can do a TX Cash Out. I am willing to do them and pretty much make zero dollars for at least the first two, but I want the experience. I’d like to get some training, moc signing, anything that will help me feel confident doing one.
Anyone know of someone who can instruct me through a Cash Out?
I’ve had at least 15 text messages come my way and I just see dollars flying away…
EC Head, Arlington TX, Solutions by T.J., and Laura Biewer. I am new at this too. I have my 1st (3) Signings tomorrow. My advice is to know your State Laws, Learn your documents, and Build Relationships.
I do around 5-10 Cash Outs every week. Structurally, the loan package is the same as a regular refinance. Some docs are different, but you’ll figure it out pretty quickly if you’ve ever done a refi. The first thing you need to do is find a title or attorney’s office in your area and any other areas you travel to. Many of them will not rent out their conference rooms for closings outside of their orginization, so you’ll be getting a lot of rejection. Once you have a good little network of title/attorney offices, then it will be a lot easier to start accepting Section 50(a)(6) Cash Outs. The average fee to rent is $25-50, so make sure you include that in your fee, otherwise you’ll lose money.
Hi Natecha, thank you for giving me that information! I am looking closely at Laura Biewer. I like the way she teaches, she is very thorough. I just need some one on one time. I guess I am old school.
Wishing you much success!!
JBOCANEGRA, Wow!! I wouldn’t mind doing those if I could get the chance! I keep jumping in the mosh pit and can’t seem to get a signing. I’m a fighter though and not giving up! What city are you in? Which offices did you have better luck over others? Escrow, Title, or Loan offices? I saw a video where the State will let you set up a table outside their office and conduct the signing there. I guess that doesn’t work very well if you don’t have a mobile printer to print out the borrower’s set of docs, plus the weather is just going to keep getting hotter! A certain SS is sending me alerts for $60 Cash Outs that include the office fee. I wouldn’t be making anything, but at least I would be getting experience!
Thanks again and keep rocking the Cash Out world!!