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This is why you charge appropriately if you want to be in the business especially as a mobile notary. This break down is helpful for those with a real business mindset.
I agree. The start-up on this buiness is not exactly on the low side but in comparison to other industries it isn't too bad. This video needed to wait until the rates dropped 1st. I will say, this is where you market and take GNW jobs & Field inspections assignments or whatever specialty notary work WHILE you're revving up the NSA/LSA side of your business.
A thousand dollars, that's nothing compare to real estate💯
How do people think that getting better at what you do is FRee!!!! That is so lame, i spent abouth 500 to start up plus the annual. So dumb to think that having a business does not cost anything. Dumb Dumb Dumb
I feel so sorry for this woman. She is intelligent, but she is such a small potato in a field full of giant watermelons. Loan signing agents aren't just useful for small deals. In order to really make money, you need to step outside of the "pick me please dance" and step your game up. For example, if you partner with a real estate broker, title company, law firms, etc, you can make six figures so easily! Think bigger! Every business deal needs a notary at some point! I wish I could take her, hug her and show her that being a notary signing agent in 2024 pays a six figure salary if you know what to do! I feel bad when I see smart, talented women who don't understand the full potential of something, nickel and diming themselves into oblivion. (sigh) My friend, I hope you see this comment – DREAM BIGGER! You are thinking so small when there's so much more available to you. Do medical, trusts & wills (estate services), high level business deals – etc. Encourage new notaries by letting them know all of the opportunities that are available because there are so many available. It is important, if you are going to present information, to present an accurate picture of what's possible based on what is actually possible, and not just present your narrow view of what is possible. I wish you peace and love! New notaries – think outside of the box and aim for bigger things.
As a new notary…. I totally agree… I'm signing up for the certified notary medical courier course!
Please do not be discouraged. I can’t believe the advise was do not become a notary and fast forward to the end there is a class guy can purchase 😬. It’s very conflicting I think the statement should be diversify the different options available with the one skill.
I absolutely agree that, as with any business owner, you need to keep track of your expenses! And the little things add up so, yes, count the cost of paper, ink, signing flags, paper clips, staples, etc., as well as vehicle milage, gas, wear and tear (I just use the IRS excepted milage allowance for anything car related) However, you cannot count your prep and drive time as an operating expense. So the $82.50 goes back into the equation at this point and and the result is you have a Pre-tax gross operating profit of about $150. Or another way of putting it is a gross operating profit margin of 94%. Of course taxes need to be paid so assuming about a 30% tax bracket (which I think is high because all those "above the line" expenses mentioned in your example are tax deductible) that brings your net (after tax) operating profit down to about $100 (rounded) or a net operating profit margin of 62.5%. Any business in the world would be ecstatic with that! NOW and only now – because all of those start up costs were paid for with post-tax dollars – do you start amortizing you payback to break-even In reality it might take 10-12 appointment days like this to get to B/E – probably more because as you pointed out, some of your start up costs (printer for example) were very very conservative…… Many (most) start up businesses would consider themselves "Successful" if they were able to reach B/E within 3 years and many start up business plans figure a 5 year B/E. Even factoring in the example appointments as an outlier to the upside for a newly commissioned and inexperienced NSA, I don't think it's unreasonable to estimate they could reach B/E within a few months. So if not now (2024) then when?
You are not lying.
Apply to grants for funding that will cover your start-up costs
Dropping Gems here my lady! I appreciate you despite feeling scared 😅
So what if i'm not looking at the business to make $500 per day or $10,000 per month what if i'm looking at this business for part time work. Let's just say 3-10 signings per week? Put the overhead cost aside, Put all the other reasons to not become a signing agent aside. is the business there? that's all i'm worried about right now.
Her logic on delayed payment is flawed. It is only delayed initially but once you start getting consistent business and get your initial payment it will no longer be delayed. also everybody has to start somewhere so of course they have to work up that higher salary.
I started doing loan signings a couple months ago and it’s the best thing that ever happened to me lol
Thank you sooo much for stopping me from wasting my time and energy ❤
Did you include background check?
I’m confused so you say it’s a waste of time but you are teaching it for a price?? 🤔 when did we stop needing this service??
A state like Georgia sure but a state like Florida 😂 definitely not a waste this is her experience
some notary services are picky or not accepting anyone at certain times
She is correct. I work as a Notary nearly full time at an escrow office for the past 8 years. We have new notaries coming in the office every week trying to break into the business. It's crazy… tons of them. There just isn't enough work right now to need any new Notaries. If Escrow Officers have long time Notaries they use consistently.. they are NOT going to take a chance on a new Notary. Just telling you the truth.
I'm also a Paralegal so that helped get me in the door years ago. If you still want to be a Notary Signing Agent, I would suggest you research Remote Online Notary work RON.
But her notary course will allow you to earn the money she is telling you that you cant
I am just getting started. I have the favor of God. I have a plan to make it work. I am already a business woman. Like every business the begging it hard, but once you put God first , consistent, work hard you will get it. One strategy to share is sigining up with 100 loan signing agency. Next go door to door, talk to people. Use my spare time to market.
Why are you selling your course if it is a waste of time?
I think it's great that you're breaking down the expenses that go with being a loan signing agent, but I think it's a little much to say that becoming a LSA is a complete waste of time. Anyone can be successful in any industry if they are willing to put in the effort. Again, as a new notary that's planning on becoming a LSA, I really appreciate the breakdown and putting time into making this video. I will take everything yoi say into consideration. Perhaps if you didn't say that this is a complete waste of time, you would get a better response.
Thank you for the real facts.