This was an EXCELLENT!!! Interview. He really told it like it is. LOVE!! being a mobile notary!! I would say after expenses about $30 - $50/hr depending on how far you travel and how long the signing takes
Thats a pretty high average. Let's say I take a signing for $100, and the address is 5 miles away from me. After travel expenses, printing expenses, and write offs, that equates to about $49 take home. Now let's assume you don't flag the package, and take it over as is, the total time for the signing including travel to the location and drop off might take 1.5 hours, if you are good. Thats $33 an hour take home, best case scenario. You would need to gross $150 on that job to net $50 per hour, and again, thats if you don't go through the package before you go, which has its own risks.
@@Mustlehard not only that, but some signings can be $150-$200, so the original commenter sounds about right, even with that guy's deductions. $100 per signing is the lower end of the average...especially if you go direct.
I do this evenings and Saturdays outside my 40/hr day job. 19 signings in the first six weeks. Made my initial investment back, and on my way to profits.
@@TopRealtor333 Loan Signing agent course,laser printer,stamps,paper,Background Check,Digital Certificate,e notary stamp, Errors and Insurance insurance, and surety bond. These are things you will initial pay for as a Notary Agent
I’m relaunching my notary career in a new state today. God is so good!! They said it would take every bit of 7-8 weeks and I got it in 5! Divine Alignment
I definitely recommend being a notary public! I am almost able to transition from a full time job working for someone else, to working full time myself with my own business. I can't wait! Maybe another 60 days and I'll be above my pay grade now. 13 years in the title business and wish I would've done this so many years ago!
@@zacharyraven2193 I learned everything from order entry to title processing and closing, post closing, recording and policies. I learned flood determinations as well.
@@LauriefromCA I did, and the main thing to remember is that the money doesn't come quickly. I am a loan signing agent with my own business, but working with certain vendors means waiting 30-60 days before getting paid. So make sure you have some savings to get you through, because you'll need gas, paper and toner the most!
This guy Doug has traveled one year down the same path that I have chosen. I am a new licensed loan signing agent ready to jump start my business. A great interview that lite up my road to success. Thnx
Understand that in some states the work has dropped of a lot due to so many notaries who will accept assignments that are paid so low that you hardly make any money. Also like in AZ where I'm from there aren't enough homes for the amount of buyers. The builders can't get the materials to build the houses so it's very hard to make money now. To be successful you will need to spend hours every day signing up with signing services and re-calling them to remind them to hire you. After you get experience you will try to get work direct from title and it's very hard to get direct to title work. I'm just saying successful people are up at 5AM and sending out marketing emails for hours every day, then following up with phone calls.
@12:20 as someone who knows about office work, you should look into saving up and purchasing a printer/scanner from a company that provides service, read the service contract and see if you get toner paid for. Those retail printers will break in a couple of years, and toner is ~$100, you make a better deal this way than buying retail printers.
I've been a realtor for 20 yrs, closing agent for real estate and a notary for 10 yrs. I love being a notary but it's tons of driving as I live rurally. A good 2 hours round trip most times but with nice weather, it's relaxing.
Connie when you say notary do you mean notary republic or signing loan agent? I noticed people use the word interchangeably and the rates are different for both.
I like your interview style. While still maintaining respect of your guest, you cut straight through the chase, and ask the relevant questions, all in a calm tone. Doug shared some insightful aspects of being a notary. Thanks for having him on.
Great interview whenever it was. The host's comment about Mark Wills was also spot as he is a salesman. But the LSS IS his invention so he should be a salesman for it and now makes 8 figures from his conferences and influence likes. He has made it as they say. I like the guest because he is straight up. The hourly rate he describes is true but it is not the end game. The volume of work and how consistent it is the end game. Being an LSS agent for years now, it is both the best paying job and the worst paying job at the same time. It is best when the jobs are easy. It is the worst with the more difficult signings because it is much like being a civil engineer. If a civil engineer make a single mistake, people die. If a signing agent makes a single mistake, a homeowner loses a dream home due to how interest rates change. And civil engineers make far more money. Both professions MUST be PERFECT every time out. And a civil engineer is treated as royalty at parties. A signing agent is treated as a janitor at parties. If notaries were not required by State law, not a single escrow agent would use one.
@@NickLoper Thanks, but that isnt the half of it. The training says one thing while the practice is completely different. There are extremely well-paid notaries out there breaking State law daily (I have seen that personally and met others in meetings) and there are agencies firing notaries daily for not doing their bidding because that bidding would violate notarial law. Follow the money-notaries are paid by agencies who are paid by banks. So, who is the decider? the banks. The law is largely irrelevant.
This was great! I have been toying with this - I was a legal secretary and trained to be a shrink. Nothing seems to be working out but I love my independence. Thank you for this info!!!!
I actually signed up with the Loan Signing System top tier a few months ago. Haven’t finished the course yet due to other things eating my time. Demotivated by this interview and will finish my course so I can get started on a part time basis. Not looking for thousands a month. Just want to supplement my social security and pension and have freedom for other volunteer work. Thanks for providing these interviews.
Thanks so much for asking. This month has been too busy. Haven’t studied at all. Scheduling to finish in July so I can have my certification in August.
Yes he did like he said all you have to do is start and my add be positive about it if you don't take risk and stop being scared you never know what doors can open up for you so I will just do that start this will be my side hustle 😂🤣
When u sign up with signing services its preferred n favored so y wouldn't u take the NNa test . That's like buying the generic brand because its cheaper there is a difference
This was very helpful. I think it’s how you hustle? I’ve watched a ton of these videos. There are ppl making 5-10,000 in their first month. But i do believe he touched on a lot of point not commonly shared
Hi Nick, Thanks for sharing this. You asked most important questions, straight to the point with vital information. I think am ready to do it Keep it up
I have been researching this for a few weeks now. It makes me nervous. But I'm really wanting to help my husband be able to quit his job eventually. I have a 10 month old though.
First video I watch on your channel Nick. Great interview and I like how you ask the questions and it gives interviewer a chance to answer in detail. Subscribed ✅
First off, very interesting, and I am very interested. Questions...To be a Notary, you need to get Insurance? And Where, What type? Secondly, How and Would you get the Signing Services?
Yes, you’ll want Errors and Omissions insurance. Rates vary based on location and the volume of business you anticipate, but is generally not something that breaks the bank. As far as the signing services, you can request to join them individually.
NNA has insurance options to get started. And just Google (RONs) remote online notary services. That's how I'm getting all my info. Mostly NNA. I've been doing research for about a month and went yesterday and got my notary. Gotta get my stamp now and NNA certified. Good luck
I'm sure I misunderstood what he said on 3:19 ? You put in $500-$1,000 for training?? I'm a Los Angeles, CA resident so I'm inquiring as to a ballpark of what I need to invest to get into the Notary Business as a side-hustle (initially)
Another great video thank you so much. By the way is there any I can contact Doug. Just had a few more questions thanks have a great day . Keep these interviews coming
I bought the $500 loan signing system and it’s to me not worth the amount you pay but it is good info it would be nice if the price point wasn’t so high for the info you get.
Nick Loper its definitely worth it. I just started doing signings and already made back more than double of what I paid for the course. (In about 2 weeks of part time signings)
I am curious how long it took from the beginning when you started the notary learning/certification journey till you actually got approved and fully ready to go to getting your first customer? Thanks!
Sounds like it took a few months. Doug described being unproven and the signing services taking a chance on you as a new notary. But prove yourself and the business can pick up.
Hey Nick, Thanks for the great content as always! I'm wondering where Doug lives.... Do you need to live in a major city for monthly income in this range? My city has only around 200k ppl.
If you have a vehicle and don't mind the travel, location doesn't matter. I will drive statewide. Also many states you can do nationwide signing from your home. So location really isn't an issue
This is an informative video! You mentioned that in Georgia this may not work because only a lawyer can do these types of signings, are you positive about that? Do you have a link to point one for more information about this in Georgia?
My understanding is there are a couple ways to get business. The first is through signing services (like Snapdocs), which are like big rosters of local signing agents. The second is by developing relationships with escrow officers directly.
Yeah, there is no way this guy could do 6+ signings a day in California unless he wasn't doing everything correctly. Many states require notary books, and many require an individual entry per notarized signature. That means, name, address, type of notarization, id information, time and date, plus the signers signature and thumbprint for every notarized signature. And the average loan package has between 8-12 notarized signatures PER BORROWER. To add to that, many loan packages do not have legal notarization language in their included certificates. I just completed prepping a package where only half of the notary certificates were legal, requiring me to add in my own certificates for the rest of them.
@@carissanorman2683 The only way you could be doing that is if you are just throwing papers in front of them without giving them a chance to read them. Ive had signers who have just wanted to sign without caring about reading, and those packages can be fully signed in about 20ish minutes, NOT including entering their information into your book for 8 or so notarizations. Then there are others that want to read every paper you put in front of them. Those signings take over an hour, and if you are not letting those that wish to do this do this, thats pretty poor customer service. Of course it would be nice if lenders sent paperwork to the clients in advance, but that rarely happens. On top of that, many lenders REQUIRE you to go through the loan package before taking it to the signing to make sure the names and dates are correct. Then on top of that, often the notarial certificates are not california legal which means adding your own that have to be filled out, adding time. Of course, the notary that performed the signing when my wife and I refinanced only has us sign her book once for multiple notarizations, and I could see that would allow more signings a day as well, DESPITE being illegal. So I stand by my statement. Unless you are taking short cuts that compromise on either customer service, or legality, there is no legitimate way to get in 6-7 signings a day as a mobile notary. Funny enough, even a closer at a title company I did a signing for agreed, and admitted that they take short cuts to get in 7-8 a day in an office setting with clients coming to them.
In the near-term, probably not as I expect real estate transactions to dry up in the wake of the coronavirus outbreak. In the long-run, this is certainly a viable option, especially if you live in an "escrow state".
This is a good business to do RIGHT NOW! there’s never been lower interests rates. There’s some signing agents making 10 to 15 thousand a month right now
The two primary ways to get leads are through the signing services like snapdocs, or by building relationships with local escrow officers. I don’t think you’ll need an LLC, but Errors and Omissions insurance is required to protect yourself.
LLC's are generally used for their corporate veil or protection of personal assets. Since any issues that arise would not be covered as someone else's negligence and would instead be your own, the LLC would not protect you. This is what E&O insurance is for. Startup as a Sole Proprietor, get an EIN for banking, and choose a business name. Taxes will be easier this way as well. 1040-C and you're good to go. As for the leads, SnapDocs and comparable services are good but don't neglect your local in-person network. Join the local Chamber of Commerce, attend area business events, speak with realtors, escrow officers, UPS/ FedEx (they will generally have their own on staff but may still refer you when they are too busy). Don't be afraid to do regular notary signings as well. While not as lucrative, they can helpp buffer during slow times for loan signings.
This side hustles is on the more expensive side to setup and thanks to the saturation due to people trying to monetize a ‘system’ it’s very difficult, borderline impossible to come into this as a newbie. I’ve got every expensive credential and time consuming training going and haven’t had one assignment. Someone warned me before I started this was a waste of time because title companies only hire the seasoned people and there are plenty to go around...now I’m warning you before you waste hours and hundred of dollars... this ‘side hustles’ is a dud. I’m realizing that if an entrepreneur podcast highlights someone doing something, that thing they are doing is over saturated and that’s a big reason they’ve started a training site or similar and on every podcast trying to sell something that’s been saturated and they are fully aware of this. Buyers be aware!
Appreciate that feedback and Doug kind of echo'd the same sentiment - the first few months were exceptionally slow as he worked to take any signings he could get to build up his reputation. But the same is true in every industry from house cleaning to web design; every seasoned pro started as a rookie, and people are constantly finding ways to break in.
@@wynton921 My understanding is the more year-round the real estate market, the better. The folks I've met doing this in Southern California are doing very well!
I feel every type of side hustle or business is "saturated" if you really think about it. However, I find that it is how you differentiate yourself/STAND OUT FROM THE REST that makes all the difference. I am a freelance writer and there are THOUSANDS of freelance writers around the world. However, trial and error and finally choosing healthcare as a niche to focus on has helped me live full-time as a freelance writer for over year. So I would say don't give up hope on this side hustle. It may take a little more work than you hoped but persistence always pays off.
@@NickLoper alright! ya, this looks pretty cool... My last question is about the National Signing Agency certification for $65... On their site it says the $65 option also includes the Notary Exam. Does that mean we have to take an exam for that certification? And do you know if the exam is much different from the 6-hour course taken early on? That's the one part that confuses me because NSA also offers an online course. So can I just pay the $65 or will I need to study or even potentially take their course for the NSA certification? Thanks again, Nick! I'll use your code if I can figure out what I need to do.
I’ve been trying to develop a flexible profitable career without back breaking labor via construction, landscaping, etc. but always run into a brick wall because I’m a convicted felon of a nonviolent crime from nearly ten years ago! I’ve paid debt to society and still can’t catch a break it’s very frustrating, honestly it’s like the they want you back in prison.
Will they not allow you to expunge your record, since it's nonviolent and over a decade ago. In the mean time, if you have a vehicle, like a minivan or can borrow one, I would just start doing IC van work, like for the post office or medical supply places. They don't need your background info, just do great work.
don't get too excited, I've been doing this a long time and its mainly because of the market, everyones doing great, refi's and sales are your work, when they dip you dip too... your relationships are going to be you anchor, remember a rising tide raises all boats and the adverse is true too... www.Notory.net
Very true. This one rises and falls with the volume of real estate transactions. Not sure if Doug mentioned this in the video, but being in the Seattle area the winter definitely slows down for him.
@@samueljordan3329 Yes as a notary tou can decide to do other markets. This episode is specifically about loan signing because the guest ONLY does loan signing (at least that's what is implied). Related to that, as an entrepreneur you have to remember to save some money during peak season to sustain you during slow times. That is true in any business.
For someone who doesnt take the course, how can i complete newbie practice or even understand the loan documents before going to their first signing? Is taking a class required to succeed?
A notary and loan signing agent aren’t the same thing. Loan signing can range from 75-200 depending on location and assignment. You can also ask for more money for whatever you feel you can ask extra for.
He is correct in fees and what you make. I've been a doc signer for 17 years. I will probably make 100k plus this year. The more money you make the more stress you can incur.
You also have to look at what they are doing. Example: TX is $6 per notorial act. Document is 10 pages, each page requires 1 initial or signature. EACH initial or signature is a notorial act. That 10 page document represents 10 Notorial acts ($60.00) Now you add in a printing fee (.50/page x 20 pages (2 copies)= $10) a mileage fee, and a scanback fee and shipping fee.
This was an EXCELLENT!!! Interview. He really told it like it is. LOVE!! being a mobile notary!! I would say after expenses about $30 - $50/hr depending on how far you travel and how long the signing takes
Thanks Victoria! That's a pretty nice hourly rate!
Thats a pretty high average.
Let's say I take a signing for $100, and the address is 5 miles away from me. After travel expenses, printing expenses, and write offs, that equates to about $49 take home. Now let's assume you don't flag the package, and take it over as is, the total time for the signing including travel to the location and drop off might take 1.5 hours, if you are good. Thats $33 an hour take home, best case scenario. You would need to gross $150 on that job to net $50 per hour, and again, thats if you don't go through the package before you go, which has its own risks.
@R V my guy most people are making less than $30 an hour relax
@@Mustlehard Right. The avg american makes $13/hr and this dude is crying about $30 not being enough lol
@@Mustlehard not only that, but some signings can be $150-$200, so the original commenter sounds about right, even with that guy's deductions. $100 per signing is the lower end of the average...especially if you go direct.
I do this evenings and Saturdays outside my 40/hr day job. 19 signings in the first six weeks. Made my initial investment back, and on my way to profits.
Were you able to get alot of business working weekends and evenings? Any advise you care to offer for drumming up business on weekends and evenings?
When you say, your initial investment? Exactly what does that entail? Also, where do you go to drum up business?
@@TopRealtor333 Loan Signing agent course,laser printer,stamps,paper,Background Check,Digital Certificate,e notary stamp, Errors and Insurance insurance, and surety bond. These are things you will initial pay for as a Notary Agent
Wow just what I needed to know because I plan to do the same hours! 👍🏼🤩💫✨✨✨
I’m relaunching my notary career in a new state today. God is so good!! They said it would take every bit of 7-8 weeks and I got it in 5! Divine Alignment
I definitely recommend being a notary public! I am almost able to transition from a full time job working for someone else, to working full time myself with my own business. I can't wait! Maybe another 60 days and I'll be above my pay grade now. 13 years in the title business and wish I would've done this so many years ago!
What did you do in the business before you started doing this?
@@zacharyraven2193 I learned everything from order entry to title processing and closing, post closing, recording and policies. I learned flood determinations as well.
Were you able to transition to full time? I am getting started next week. I started the notary process in Sept. 2020.
@@LauriefromCA I did, and the main thing to remember is that the money doesn't come quickly. I am a loan signing agent with my own business, but working with certain vendors means waiting 30-60 days before getting paid. So make sure you have some savings to get you through, because you'll need gas, paper and toner the most!
@@forvalhalla7754 Great advice!
I just got my notary yesterday. I'm excited to get started.
Me too! Ready to get ready for next career
This guy Doug has traveled one year down the same path that I have chosen. I am a new licensed loan signing agent ready to jump start my business. A great interview that lite up my road to success. Thnx
Understand that in some states the work has dropped of a lot due to so many notaries who will accept assignments that are paid so low that you hardly make any money. Also like in AZ where I'm from there aren't enough homes for the amount of buyers. The builders can't get the materials to build the houses so it's very hard to make money now. To be successful you will need to spend hours every day signing up with signing services and re-calling them to remind them to hire you. After you get experience you will try to get work direct from title and it's very hard to get direct to title work. I'm just saying successful people are up at 5AM and sending out marketing emails for hours every day, then following up with phone calls.
@12:20 as someone who knows about office work, you should look into saving up and purchasing a printer/scanner from a company that provides service, read the service contract and see if you get toner paid for. Those retail printers will break in a couple of years, and toner is ~$100, you make a better deal this way than buying retail printers.
Definitely worth a look. Thanks for the tip!
@@NickLoper sure thing! I'm subscribed now, so I look forward to learning more from you and your experiences.
I've been a realtor for 20 yrs, closing agent for real estate and a notary for 10 yrs. I love being a notary but it's tons of driving as I live rurally. A good 2 hours round trip most times but with nice weather, it's relaxing.
Connie when you say notary do you mean notary republic or signing loan agent? I noticed people use the word interchangeably and the rates are different for both.
@@MissTopDJ007 they are both the same to me. notary public or notary. never use notary republic.
I like your interview style. While still maintaining respect of your guest, you cut straight through the chase, and ask the relevant questions, all in a calm tone. Doug shared some insightful aspects of being a notary. Thanks for having him on.
Thanks for watching!
Great interview whenever it was. The host's comment about Mark Wills was also spot as he is a salesman. But the LSS IS his invention so he should be a salesman for it and now makes 8 figures from his conferences and influence likes. He has made it as they say. I like the guest because he is straight up. The hourly rate he describes is true but it is not the end game. The volume of work and how consistent it is the end game. Being an LSS agent for years now, it is both the best paying job and the worst paying job at the same time. It is best when the jobs are easy. It is the worst with the more difficult signings because it is much like being a civil engineer. If a civil engineer make a single mistake, people die. If a signing agent makes a single mistake, a homeowner loses a dream home due to how interest rates change. And civil engineers make far more money. Both professions MUST be PERFECT every time out. And a civil engineer is treated as royalty at parties. A signing agent is treated as a janitor at parties. If notaries were not required by State law, not a single escrow agent would use one.
Appreciate the insight, Josh! Thanks for sharing.
@@NickLoper Thanks, but that isnt the half of it. The training says one thing while the practice is completely different. There are extremely well-paid notaries out there breaking State law daily (I have seen that personally and met others in meetings) and there are agencies firing notaries daily for not doing their bidding because that bidding would violate notarial law. Follow the money-notaries are paid by agencies who are paid by banks. So, who is the decider? the banks. The law is largely irrelevant.
This was great! I have been toying with this - I was a legal secretary and trained to be a shrink. Nothing seems to be working out but I love my independence. Thank you for this info!!!!
I’m already in the process of getting my notary license. This video was very helpful. I’m looking forward to starting and serving my state.
Nice!
Great video Doug, Nick I really needed that. I'm going to start my loan signing business soon. I really appreciate it!!! Keep up the great work Doug
Thanks for tuning in Kelvin!
Been listening to your podcast for a long time, this is the first YT video I watched. Keep killing it bro thanks for the valuable information.
Thanks for tuning in, Joseph!
I actually signed up with the Loan Signing System top tier a few months ago. Haven’t finished the course yet due to other things eating my time. Demotivated by this interview and will finish my course so I can get started on a part time basis. Not looking for thousands a month. Just want to supplement my social security and pension and have freedom for other volunteer work. Thanks for providing these interviews.
Thanks for sharing Suzan. Curious, which part was demotivating?
Nick Loper Sorry Nick I was trying to say it remotivated me. Didn’t realize auto correct changed it
@@suzangrace5567 how is the LSS course?
Thanks so much for asking. This month has been too busy. Haven’t studied at all. Scheduling to finish in July so I can have my certification in August.
@@suzangrace5567 I'm researching to enroll in a training program. What are your thoughts on LSS? Have you completed it?
I feel this guy is so honest and simple with answers made me feel confident about starting.
Thanks for sharing Julius -- happy to hear it!
Yes he did like he said all you have to do is start and my add be positive about it if you don't take risk and stop being scared you never know what doors can open up for you so I will just do that start this will be my side hustle 😂🤣
Other than NNA I do not pay fees to signing services. They need me more than I need them.
Appreciate that insight - thanks!
You don't have to do the notary signing agent test from NNA, that's incorrect. It is recommended but not needed.
Thanks for sharing that. What exactly does one need besides the actual notary license to start business?
Exactly
@@nashakeem2490 do free RUclips video to see how to ..... nna has free ones as well
When u sign up with signing services its preferred n favored so y wouldn't u take the NNa test . That's like buying the generic brand because its cheaper there is a difference
As I mentioned suggested but not needed.
Wow this is great interview. I am on my way to being a signing agent . Waiting to be commissioned.
Thanks Taylor! Keep us posted!
This was very helpful. I think it’s how you hustle? I’ve watched a ton of these videos. There are ppl making 5-10,000 in their first month. But i do believe he touched on a lot of point not commonly shared
Hi Nick,
Thanks for sharing this. You asked most important questions, straight to the point with vital information.
I think am ready to do it
Keep it up
I have been researching this for a few weeks now. It makes me nervous. But I'm really wanting to help my husband be able to quit his job eventually. I have a 10 month old though.
Try reselling! You can bring your baby then. Can’t when you’re a notary.
I'm a felon, I received my commission a year ago. Not all states have the same laws. Just food for thought.
Thanks for sharing.
First video I watch on your channel Nick. Great interview and I like how you ask the questions and it gives interviewer a chance to answer in detail. Subscribed ✅
Thanks Aggie!
Thank you both clear,concise and informative..bravo!!
Cheers!
First off, very interesting, and I am very interested. Questions...To be a Notary, you need to get Insurance? And Where, What type? Secondly, How and Would you get the Signing Services?
Yes, you’ll want Errors and Omissions insurance. Rates vary based on location and the volume of business you anticipate, but is generally not something that breaks the bank.
As far as the signing services, you can request to join them individually.
Where would one find Signing Services? How would that be searchable on a search engine?
Also insurance is like 40 bucks for four months.
NNA has insurance options to get started. And just Google (RONs) remote online notary services. That's how I'm getting all my info. Mostly NNA. I've been doing research for about a month and went yesterday and got my notary. Gotta get my stamp now and NNA certified. Good luck
Thank you so much for the info. Need to find a job I can do while homeschooling and being a single parent.
Glad it was helpful!
Wait, he said he has only been doing this for about a year but then he said how much he was making a per month a few years in 🤔
I'm sure I misunderstood what he said on 3:19 ? You put in $500-$1,000 for training?? I'm a Los Angeles, CA resident so I'm inquiring as to a ballpark of what I need to invest to get into the Notary Business as a side-hustle (initially)
No, not half a mill! That was $500-1000 in startup costs.
Nick Loper lol I didn’t say half a mil but thanks for reiterating. I watched the rest of the vid and it seems you can break even fairly soon
Another great video thank you so much. By the way is there any I can contact Doug. Just had a few more questions thanks have a great day . Keep these interviews coming
Nick, you need to put your picture in your video thumbnail so I can easily pick out your content in my feed. :)
haha will work on it!
Very helpful! Thank you so much!
I bought the $500 loan signing system and it’s to me not worth the amount you pay but it is good info it would be nice if the price point wasn’t so high for the info you get.
Thanks for sharing. Have you started to get signings?
Nick Loper its definitely worth it. I just started doing signings and already made back more than double of what I paid for the course. (In about 2 weeks of part time signings)
@@ramanp5533 Wow - Happy to hear it!
There’s a $200 option
I am curious how long it took from the beginning when you started the notary learning/certification journey till you actually got approved and fully ready to go to getting your first customer? Thanks!
Sounds like it took a few months. Doug described being unproven and the signing services taking a chance on you as a new notary. But prove yourself and the business can pick up.
This was very informative. Thanks for sharing.
Thanks! Happy it was helpful!
Hey Nick, Thanks for the great content as always! I'm wondering where Doug lives.... Do you need to live in a major city for monthly income in this range? My city has only around 200k ppl.
Can you explain the Provide a 4-year $10,000 notary bond. Some states require
This is a great business to have! Location makes a difference like living in a city as opposed a rural area.
If you have a vehicle and don't mind the travel, location doesn't matter. I will drive statewide. Also many states you can do nationwide signing from your home. So location really isn't an issue
I'm in Alabama, which is an Attorney state. What are your thoughts on that? I keep hearing challenges.
How do I contact Doug Hoyer? I live in WA and would like to become notary. Thanks.
How to find an office to close a Texas cash out?
This is an informative video! You mentioned that in Georgia this may not work because only a lawyer can do these types of signings, are you positive about that? Do you have a link to point one for more information about this in Georgia?
Wow, so glad I saw this question before I started this process. GA makes it hard to provide a number of consumer services.
Omg 😱
You don’t have to be an attorney in an attorney state to be a signing agent
Great tips!
do you take an extra test or training to be a loan signing agent compared to just a notary? Costs more?
I never took any classes. I just resign up again in 10 years took the nna certification test and passed in the 1st try.
Yes.. The resident producer to be a signing agent through your state
Subscribed!
great information thank you
when do you print and review loan packages?
How did you guys land your first job as a signing agent? Any tips?
My understanding is there are a couple ways to get business. The first is through signing services (like Snapdocs), which are like big rosters of local signing agents.
The second is by developing relationships with escrow officers directly.
Oh my!
Hi, Does this include the state fees to get started?
Would this service be needed in south Carolina.. we need lawyers to close real estate transactions
If SC is what’s called an “attorney state”, then this side hustle is a lot more difficult.
Thanks
Yeah, there is no way this guy could do 6+ signings a day in California unless he wasn't doing everything correctly.
Many states require notary books, and many require an individual entry per notarized signature. That means, name, address, type of notarization, id information, time and date, plus the signers signature and thumbprint for every notarized signature. And the average loan package has between 8-12 notarized signatures PER BORROWER.
To add to that, many loan packages do not have legal notarization language in their included certificates. I just completed prepping a package where only half of the notary certificates were legal, requiring me to add in my own certificates for the rest of them.
Chris Purdue Actually, I’m 20 years old living in Orange County, CA and I average 6-7 signings per day. It is very well possible 😊
@@carissanorman2683 The only way you could be doing that is if you are just throwing papers in front of them without giving them a chance to read them. Ive had signers who have just wanted to sign without caring about reading, and those packages can be fully signed in about 20ish minutes, NOT including entering their information into your book for 8 or so notarizations. Then there are others that want to read every paper you put in front of them. Those signings take over an hour, and if you are not letting those that wish to do this do this, thats pretty poor customer service. Of course it would be nice if lenders sent paperwork to the clients in advance, but that rarely happens. On top of that, many lenders REQUIRE you to go through the loan package before taking it to the signing to make sure the names and dates are correct.
Then on top of that, often the notarial certificates are not california legal which means adding your own that have to be filled out, adding time.
Of course, the notary that performed the signing when my wife and I refinanced only has us sign her book once for multiple notarizations, and I could see that would allow more signings a day as well, DESPITE being illegal.
So I stand by my statement. Unless you are taking short cuts that compromise on either customer service, or legality, there is no legitimate way to get in 6-7 signings a day as a mobile notary. Funny enough, even a closer at a title company I did a signing for agreed, and admitted that they take short cuts to get in 7-8 a day in an office setting with clients coming to them.
How soon do you get paid though?
I just got mine! But i didnt take a test 🤔
I just lost my job. I wonder if this good venture for me to take on for income?
In the near-term, probably not as I expect real estate transactions to dry up in the wake of the coronavirus outbreak. In the long-run, this is certainly a viable option, especially if you live in an "escrow state".
This is a good business to do RIGHT NOW! there’s never been lower interests rates. There’s some signing agents making 10 to 15 thousand a month right now
I can say that even with the virus, I'm getting calls daily with people asking me to be their notary. Great business!
How do you get leads? Do you need to have an llc?
The two primary ways to get leads are through the signing services like snapdocs, or by building relationships with local escrow officers.
I don’t think you’ll need an LLC, but Errors and Omissions insurance is required to protect yourself.
LLC's are generally used for their corporate veil or protection of personal assets. Since any issues that arise would not be covered as someone else's negligence and would instead be your own, the LLC would not protect you. This is what E&O insurance is for. Startup as a Sole Proprietor, get an EIN for banking, and choose a business name. Taxes will be easier this way as well. 1040-C and you're good to go.
As for the leads, SnapDocs and comparable services are good but don't neglect your local in-person network. Join the local Chamber of Commerce, attend area business events, speak with realtors, escrow officers, UPS/ FedEx (they will generally have their own on staff but may still refer you when they are too busy). Don't be afraid to do regular notary signings as well. While not as lucrative, they can helpp buffer during slow times for loan signings.
@@TheRealMikeyXZ thank you
This side hustles is on the more expensive side to setup and thanks to the saturation due to people trying to monetize a ‘system’ it’s very difficult, borderline impossible to come into this as a newbie. I’ve got every expensive credential and time consuming training going and haven’t had one assignment. Someone warned me before I started this was a waste of time because title companies only hire the seasoned people and there are plenty to go around...now I’m warning you before you waste hours and hundred of dollars... this ‘side hustles’ is a dud. I’m realizing that if an entrepreneur podcast highlights someone doing something, that thing they are doing is over saturated and that’s a big reason they’ve started a training site or similar and on every podcast trying to sell something that’s been saturated and they are fully aware of this. Buyers be aware!
Appreciate that feedback and Doug kind of echo'd the same sentiment - the first few months were exceptionally slow as he worked to take any signings he could get to build up his reputation. But the same is true in every industry from house cleaning to web design; every seasoned pro started as a rookie, and people are constantly finding ways to break in.
hey, what state are you in? I'm in California... LA might be a better city for this kind of work than other places. What do you think?
@@wynton921 My understanding is the more year-round the real estate market, the better. The folks I've met doing this in Southern California are doing very well!
I feel every type of side hustle or business is "saturated" if you really think about it. However, I find that it is how you differentiate yourself/STAND OUT FROM THE REST that makes all the difference.
I am a freelance writer and there are THOUSANDS of freelance writers around the world. However, trial and error and finally choosing healthcare as a niche to focus on has helped me live full-time as a freelance writer for over year.
So I would say don't give up hope on this side hustle. It may take a little more work than you hoped but persistence always pays off.
@@NickLoper alright! ya, this looks pretty cool... My last question is about the National Signing Agency certification for $65... On their site it says the $65 option also includes the Notary Exam. Does that mean we have to take an exam for that certification? And do you know if the exam is much different from the 6-hour course taken early on? That's the one part that confuses me because NSA also offers an online course. So can I just pay the $65 or will I need to study or even potentially take their course for the NSA certification?
Thanks again, Nick! I'll use your code if I can figure out what I need to do.
I’ve been trying to develop a flexible profitable career without back breaking labor via construction, landscaping, etc. but always run into a brick wall because I’m a convicted felon of a nonviolent crime from nearly ten years ago! I’ve paid debt to society and still can’t catch a break it’s very frustrating, honestly it’s like the they want you back in prison.
Will they not allow you to expunge your record, since it's nonviolent and over a decade ago. In the mean time, if you have a vehicle, like a minivan or can borrow one, I would just start doing IC van work, like for the post office or medical supply places. They don't need your background info, just do great work.
don't get too excited, I've been doing this a long time and its mainly because of the market, everyones doing great, refi's and sales are your work, when they dip you dip too... your relationships are going to be you anchor, remember a rising tide raises all boats and the adverse is true too... www.Notory.net
Very true. This one rises and falls with the volume of real estate transactions. Not sure if Doug mentioned this in the video, but being in the Seattle area the winter definitely slows down for him.
I disagree. It’s more than just loan signings, I market to hospital, jail, etc.
@@samueljordan3329 Yes as a notary tou can decide to do other markets. This episode is specifically about loan signing because the guest ONLY does loan signing (at least that's what is implied). Related to that, as an entrepreneur you have to remember to save some money during peak season to sustain you during slow times. That is true in any business.
How can I start this anyone
Loan signing system (LSS.com)
Thank you much!
For someone who doesnt take the course, how can i complete newbie practice or even understand the loan documents before going to their first signing? Is taking a class required to succeed?
NotaryCoach.com
Get Bill Saroka’s book. $20.00.
This agent doesn't live in Georgia
Correct - Doug is a mobile notary in Washington state.
A notary in Washington State can only charge $10.00 for each notary act, per state law. He is NOT making $8,000 a month off of notary acts.
A notary and loan signing agent aren’t the same thing. Loan signing can range from 75-200 depending on location and assignment. You can also ask for more money for whatever you feel you can ask extra for.
He is correct in fees and what you make. I've been a doc signer for 17 years. I will probably make 100k plus this year. The more money you make the more stress you can incur.
@@JR-cr9bw Exactly! Notary and Loan Signing are two different things......... That should have been better explained in the story.
@@tmrpeace807 The money is made off of Loan Signing, not from Notary. The story is misleading.
You also have to look at what they are doing. Example: TX is $6 per notorial act. Document is 10 pages, each page requires 1 initial or signature. EACH initial or signature is a notorial act. That 10 page document represents 10 Notorial acts ($60.00) Now you add in a printing fee (.50/page x 20 pages (2 copies)= $10) a mileage fee, and a scanback fee and shipping fee.
Mark is very expensive
He has a payment plan option
You're not in Georgia....LOL!
Wa does not require a class