whomper Posted August 25, 2007 Share Posted August 25, 2007 Bartend until you finish school ..I know you hate realtors but you can get liscensed in a reasonably short period of time and if you hustle make some good scratch.. Quote Link to comment Share on other sites More sharing options...
evil_gop_liars Posted August 25, 2007 Share Posted August 25, 2007 How about playing in a band that doesn't suck... Quote Link to comment Share on other sites More sharing options...
ChuckB Posted August 25, 2007 Share Posted August 25, 2007 (edited) Dude I think I'm a little older than you and I got at least 2-2 1/2 years of school left going every semester, it's gonna suck but I'm gonna do it........I don't want to bust my back to make a "decent" living and I can't put it off any longer, so starting Monday I am officialy a full-time student at 32 years old. I had a couple decent jobs when I was younger and then started waiting tables (actually making decent money) and have been doing it for too long.....It pays the bills and I don't work a ton of hours but there are a lot of down sides also and I'm sick of it. I've turned down three or four "good" jobs with the excuse that I wanted to go back to school......well excuses are over, come next week I'll be stealin peoples lunch money Edited August 25, 2007 by ChuckB Quote Link to comment Share on other sites More sharing options...
Big John Posted August 25, 2007 Share Posted August 25, 2007 Dude I think I'm a little older than you and I got at least 2-2 1/2 years of school left going every semester, it's gonna suck but I'm gonna do it........I don't want to bust my back to make a "decent" living and I can't put it off any longer, so starting Monday I am officialy a full-time student at 32 years old. AG is 34 Quote Link to comment Share on other sites More sharing options...
ChuckB Posted August 25, 2007 Share Posted August 25, 2007 AG is 34 I figured you would let me know within 10 minutes of posting and I was right Quote Link to comment Share on other sites More sharing options...
Tally Posted August 25, 2007 Share Posted August 25, 2007 I own a small mortgage company in the suburbs on NYC and I've been in the industry for about 12 years now. I know you said you don’t want to be in sales but I'm still going to give you my two cents anyway just in case you decide to change your mind. Keep in mind that for the most part you must be in sales to really make the best income possible. It doesn’t matter what the industry is, selling is the way to dictate the highest earning potential. Of course there are exceptions but weather you are in the fantasy football business or your a doctor or a lawyer, it doesn’t matter. The people that are going to be the highest earners will be the people that own their own practice and/or are responsible for bringing the clients in the door. Not the people on someone else's payroll. Don't let 1-2 turbulent years in this business scare you off. We went thru a very similar situation in the late 90’s and in the late 80's and both times the industry rebounded in a big way and it will again. Like many thing it's cyclical and it will bounce back. It's not a matter of if but only a matter of when. My opinion is they may not happen until spring of 2009 and it still doesn’t change the fact that people will buy homes in ANY market. Families grow, jobs change and children go off to college. The question is how do you not only survive but grow your business in the meantime. What I plan on doing to combat the down years that we are now facing is to get my company sponsored by a large lending institution and get myself FHA approved by using the backing of a very large lender that I know will not be going anywhere (probably Citibank) I feel that pushing hard for business that can be put into government guaranteed programs (specifically FHA and Reverse mortgages) is the solution. I am 110% positive the FHA will be by far the best opportunity to make the most money over the next few years with the collapse of the sub prime market. The government needs homeowners, it's better for the economy for people to own than it is for people to rent and with FHA you can still help clients without large down payment or strong credit scores get approved and you can do so knowing your not going to put someone into a situation that will result with them going into foreclosure (unless of course they lose their job) but not because of the program you put them into. Finally, remember that with every company that closes it doors a new opportunity presents itself because someone in that company was working with a realtor, account, attorney or a financial planner that now needs a new mortgage guy. “Not everyone lost money in the Great Depression, many people became millionaires. It's all about perspective. If you think you're going to succeed, you will. If you think you're going to fail, you will.” Quote Link to comment Share on other sites More sharing options...
whomper Posted August 25, 2007 Share Posted August 25, 2007 Good post Tally..Im pretty much a pessimist so its nice to see the view from the other side sometimes Quote Link to comment Share on other sites More sharing options...
jackshi17 Posted August 25, 2007 Share Posted August 25, 2007 If you are willing to travel extensively and can pass a drug test pm me, I can hook you up. I was gonna tell him to join the service also.... Quote Link to comment Share on other sites More sharing options...
alexgaddis Posted August 26, 2007 Author Share Posted August 26, 2007 How about playing in a band that doesn't suck... Quote Link to comment Share on other sites More sharing options...
Ramhock Posted August 26, 2007 Share Posted August 26, 2007 (edited) I am 110% positive the FHA will be by far the best opportunity to make the most money over the next few years with the collapse of the sub prime market. I have been in the business 7 weeks and have closed 4 loans, with 2 others in processing...all refis, leads from lowermybills.com...we get 5/day. 6 of these were FHA programs where your credit score counts FAR less. As long as the D/I = 33/41 or better, there is equity and no lates on the mortgage the last 12 months, you can get a 520 FICO into a 6.75% fixed 30-year program...and make 2+ on the back. Edited August 26, 2007 by Ramhock Quote Link to comment Share on other sites More sharing options...
Tally Posted August 26, 2007 Share Posted August 26, 2007 I have been in the business 7 weeks and have closed 4 loans, with 2 others in processing...all refis, leads from lowermybills.com...we get 5/day. 6 of these were FHA programs where your credit score counts FAR less. As long as the D/I = 33/41 or better, there is equity and no lates on the mortgage the last 12 months, you can get a 520 FICO into a 6.75% fixed 30-year program...and make 2+ on the back. Those are terrific closing numbers. Congrats! I am very familiar with lower my bills leads and other than lending tree leads they are the best internet leads you can buy. You have obviously put yourself in a good situation with a company that is not only purchasing strong leads but also selling the right programs. If you’re already doing that well being so new to the industry and in this market place, you are going to have very successful career ahead of you. Good luck! Quote Link to comment Share on other sites More sharing options...
Ramhock Posted August 26, 2007 Share Posted August 26, 2007 Those are terrific closing numbers. Not so much w/o FHA, it is gold and the only "way out" for many homeowners. Quote Link to comment Share on other sites More sharing options...
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