The cost of living in California is outrageous. A single person in California needs to earn, on average, about $12.30/hour working full time to cover basic living expenses. Add a kid to the mix, and that rate rises sharply to more than $25/hour. That’s according to the Living Wage Calculator. The profit on a $3 mortgage inspection is maybe $1.50. Your first 843 mortgage inspections go to paying the $1,265 required upfront for insurance and a background check. Some Mortgage Order Mills (MOMs) pay but once every 30 days. Good luck with living on mortgage inspections in California.
The below fix-it-upper California home sold for $1.75 million. The video below talks about renting a tent in someone’s backyard for about $1,000 a month. Living in the Land of Paradise is expensive. The medium rent for a one bedroom apartment in San Francisco is $3,500. Many people are leaving California. How are those $3 mortgage inspections working for you? Many San Francisco mortgage inspectors are “mega commuters” … traveling long distances. Watch the video.