How Are Those $3 Mortgage Inspections Working For You In San Francisco?
The San Francisco median home price is now over $1.3 million. The basic home at this price range will get you 800 square feet. The Bay Area tech driven frenzy continues to march forward with no stopping in sight. If you thought $1 million was too much for a crap shack then $1.3 million is going to be out of your price range. California is a high cost of living state. That goes without saying. California exports its poor to Texas due to the high cost of living.
The profit on a $3 mortgage inspection is “maybe” about $1.50. Your first 833 mortgage inspections will go toward paying for the required background check and E&O insurance … paid upfront. It will be months before you make any money to even pay off your mounting expenses. One Mortgage Order Mill (MOM) makes you wait 60 days before you see a check from them.
None of that information is brought to your attention. Your vendor manager lives in Birmingham, Alabama … one the most affordable places to live in the U.S. The fee paid for a mortgage inspection is the same in both San Francisco and Birmingham. Explain that to me.