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Hi All,

I want to preface this by saying I am in virgin territory here and want some advice.

I just got off the phone with a guy looking for someone to be a Mortgage Field Inspector. 99% of the work is local and within 10 to 15 minutes of my house. He states the volume is about 600 properties per month with peaks up to 800 in some months. Sounds good, right?

The pay is $3 for what he calls a standard inspection (occupancy check) with two pics of the house and $5 for an interior inspection with 11 pics. There are other types that pay more, but they are less common than the two listed above. He is supposed to email me all the details later today.

The job also requires E&O insurance. He said he has a policy that allows him to add a sub for $100 per month and if I do not have my own policy he can deduct this from the weekly payments.

Based on our conversation it seems to me I could easily average about 75 inspections per day. Which works out to about 8 days per month dedicated to doing this.

My thoughts:

It is not enough money, plain and simple. I would have to burn about $300 in gas alone to make $1800. When you add in all the other overhead costs (tires, oil changes, brakes, E&O, etc.) I might make $1.50 per property which means I get about $12 per hour depending on how many hours I have to work each day.

Yeah I am going to pass, but what I want to know is what does this type of work typically pay? This guy claims he is working directly for the banks.
 

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Gypsos said:
Hi All,

I want to preface this by saying I am in virgin territory here and want some advice.

I just got off the phone with a guy looking for someone to be a Mortgage Field Inspector. 99% of the work is local and within 10 to 15 minutes of my house. He states the volume is about 600 properties per month with peaks up to 800 in some months. Sounds good, right?

The pay is $3 for what he calls a standard inspection (occupancy check) with two pics of the house and $5 for an interior inspection with 11 pics. There are other types that pay more, but they are less common than the two listed above. He is supposed to email me all the details later today.

The job also requires E&O insurance. He said he has a policy that allows him to add a sub for $100 per month and if I do not have my own policy he can deduct this from the weekly payments.

Based on our conversation it seems to me I could easily average about 75 inspections per day. Which works out to about 8 days per month dedicated to doing this.

My thoughts:

It is not enough money, plain and simple. I would have to burn about $300 in gas alone to make $1800. When you add in all the other overhead costs (tires, oil changes, brakes, E&O, etc.) I might make $1.50 per property which means I get about $12 per hour depending on how many hours I have to work each day.

Yeah I am going to pass, but what I want to know is what does this type of work typically pay? This guy claims he is working directly for the banks.
Depending on who you do work for, $25-$50 per inspection.
 

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Gypsos said:
Hi All,

I want to preface this by saying I am in virgin territory here and want some advice.

I just got off the phone with a guy looking for someone to be a Mortgage Field Inspector. 99% of the work is local and within 10 to 15 minutes of my house. He states the volume is about 600 properties per month with peaks up to 800 in some months. Sounds good, right?

The pay is $3 for what he calls a standard inspection (occupancy check) with two pics of the house and $5 for an interior inspection with 11 pics. There are other types that pay more, but they are less common than the two listed above. He is supposed to email me all the details later today.

The job also requires E&O insurance. He said he has a policy that allows him to add a sub for $100 per month and if I do not have my own policy he can deduct this from the weekly payments.

Based on our conversation it seems to me I could easily average about 75 inspections per day. Which works out to about 8 days per month dedicated to doing this.

My thoughts:

It is not enough money, plain and simple. I would have to burn about $300 in gas alone to make $1800. When you add in all the other overhead costs (tires, oil changes, brakes, E&O, etc.) I might make $1.50 per property which means I get about $12 per hour depending on how many hours I have to work each day.

Yeah I am going to pass, but what I want to know is what does this type of work typically pay? This guy claims he is working directly for the banks.

Middle man is taking all your $$$$. Regular occupancy check is billed to HUD at $35, Door knock is $50...............................
 

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mtmtnman said:
Middle man is taking all your $$$$. Regular occupancy check is billed to HUD at $35, Door knock is $50...............................
Don't forget the middlemans "middleman" aka national.
 
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Gypsos said:
Hi All,

I want to preface this by saying I am in virgin territory here and want some advice.

I just got off the phone with a guy looking for someone to be a Mortgage Field Inspector. 99% of the work is local and within 10 to 15 minutes of my house. He states the volume is about 600 properties per month with peaks up to 800 in some months. Sounds good, right?

The pay is $3 for what he calls a standard inspection (occupancy check) with two pics of the house and $5 for an interior inspection with 11 pics. There are other types that pay more, but they are less common than the two listed above. He is supposed to email me all the details later today.

The job also requires E&O insurance. He said he has a policy that allows him to add a sub for $100 per month and if I do not have my own policy he can deduct this from the weekly payments.

Based on our conversation it seems to me I could easily average about 75 inspections per day. Which works out to about 8 days per month dedicated to doing this.

My thoughts:

It is not enough money, plain and simple. I would have to burn about $300 in gas alone to make $1800. When you add in all the other overhead costs (tires, oil changes, brakes, E&O, etc.) I might make $1.50 per property which means I get about $12 per hour depending on how many hours I have to work each day.

Yeah I am going to pass, but what I want to know is what does this type of work typically pay? This guy claims he is working directly for the banks.
Is say it depends on what they are doing. Here the reo agents get $50 for bpo's. They try to get us to do them from $10-$25 a house to do drive by's with 4 pics for their bpo's. For the work it takes to do a bpo I'd only give up $10 myself. At $10 you can make money if its 1 guy driving something good on gas.
 

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I do REO QCs.

Pay $10. It aint nearly enough but some of their other inspections pay over $100 for an hr work.
I'll keep doing them for another 3 months until I quit foreclosure work.
 
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