Home Office

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Unifund65

74 Posts

Posted - 03/27/2008 : 7:29:40 PM

I wanted to start a home office and I have my own processor. I wanted to know if it's a good idea doing loans out of my house. Anyone have a home office setup if so how to you generate business? And what is your experience like working out of your house.

goodguy1

1654 Posts

Posted - 03/27/2008 : 7:47:22 PM

I have a home office and it works well for me...I don't have any kids though, and I've never liked the traditional office setting with all of the gossip and junk.

I find that I am on the computer more than ever and it is hard to separate my work from home life sometimes..

I love it though and wouldn't change a thing..

CoralSnake

10889 Posts

Posted - 03/27/2008 : 7:50:13 PM

I love the office gossip and politics.

1stintegritymort

1298 Posts

Posted - 03/27/2008 : 7:52:25 PM

do you plan on getting your home office licensed with the state? technically, it is illegal if you dont... a lot of LO's work from home, but i dont think its legit. that is my opinion.

goodguy1

1654 Posts

Posted - 03/27/2008 : 7:56:49 PM

I have an S-corp and my license shows my home address..
I think it's all how you have it set up otherwise.

You could technically work out of a specified office space but "choose" to work remotely the majority of the time.

dkendall1979

10342 Posts

Posted - 03/27/2008 : 7:59:34 PM

If you use me as your preferred lender, I'll inundate you with "FREE" leads. No BS. But, if I find out you're pulling a TBW or Provident on me, you're sugar daddy will cut you off!

quote:
Originally posted by Unifund65

I wanted to start a home office and I have my own processor. I wanted to know if it's a good idea doing loans out of my house. Anyone have a home office setup if so how to you generate business? And what is your experience like working out of your house.

1stintegritymort

1298 Posts

Posted - 03/27/2008 : 8:02:52 PM

quote:
Originally posted by goodguy1

I have an S-corp and my license shows my home address..
I think it's all how you have it set up otherwise.

You could technically work out of a specified office space but "choose" to work remotely the majority of the time.

good, you did the right thing putting the home address on the license. you can work remotely, but your principal place of business must be licensed with the state. im sure there are brokers who get away with it, but i dont think its worth the risk. now if you want to get FHA Approved, you need to file for a non-traditional office location. you will have to find a place to put up a sign out front of your house. some states do require that your office is commercially zoned. if you decide to go outside your home state you may have some problems. other than that, you should be fine. if you can manage your time efficiently and not be lazy working from home, then you should save money on a lease and be successful. best of luck.

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