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Thread: Earnings

  1. #1
    Stephen Tyer's Avatar
    Stephen Tyer Guest

    Default Earnings

    There are claims by governement organizations and trade associations that self employed home inspectors earn an avg of 40k-over 100k per year.

    I want your stats, not theirs!
    If you are inspecting full time, are you atleast earning 50k per year?

    Stephen Tyer

    Inspection Referral

  2. #2
    Join Date
    Mar 2007
    Location
    Ridgewood, NJ
    Posts
    237

    Default Re: Earnings

    Yes, by May.


  3. #3
    Join Date
    Mar 2007
    Location
    Succasunna NJ
    Posts
    574

    Default Re: Earnings

    Neal,

    Can you post your bank account number here so I can verify your income?

    Darren www.aboutthehouseinspections.com
    'Whizzing & pasting & pooting through the day (Ronnie helping Kenny helping burn his poots away!) (FZ)

  4. #4
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
    Posts
    5,847

    Default Re: Earnings

    I think when homes were selling well, a good experianced home inspector could make $60,000 a year and have a life to enjoy.

    Now? I would be happy to make minimum wage!

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  5. #5
    Join Date
    Mar 2007
    Location
    Ridgewood, NJ
    Posts
    237

    Default Re: Earnings

    Uh Darren, that would be a No. I could lend you some though...

    We ended up with 690 inspections for the company (two of us). Can't complain too much, except that the wife spent it all. She does let me drive her new A4 once in a while.


  6. #6
    Join Date
    Mar 2007
    Location
    Succasunna NJ
    Posts
    574

    Default Re: Earnings

    Neal,

    If you're offering, I taking.

    50G's at 0 interest for 5 years sounds terrific. Make check payable to 'Cash'.

    Thanks!

    Darren www.aboutthehouseinspections.com
    'Whizzing & pasting & pooting through the day (Ronnie helping Kenny helping burn his poots away!) (FZ)

  7. #7
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
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    Default Re: Earnings

    Quote Originally Posted by Robert Humphries View Post
    Scott -- I'm actually not just a tech head. I used to be a sales trainer for several firms; one being the world's largest financial services company. I taught new stock brokers how to close perfect strangers to give them $100,000 to invest. Then, I trained advertising account executives to "pitch" ideas to corporations in order to get their business. I did this both live in front of 2,000+ people and in print via training manuals that I co-authored.

    I've avoided doing anything like this for inspectors because....well...I've never sold an inspection before (which would lend to credibility, of course). But, I think some of the same prospecting and closing techniques I taught to commissioned brokers and AEs are applicable to inspectors.

    I don't want to look like a snake-oil salesman. So, In your seasoned opinion, do you think inspectors would be interested in having me put something together, or do you think most inspectors are too skeptical, cynical and set in their ways to care?

    -
    Well, I would say that most of the experianced and seasoned inspectors tend to be a little cynical and pretty much set in their ways. A few years back when life was good and we had droves of folks entering the profession, I think that your ideas might have done well.

    I think the problem most are having now is getting their phone to ring. Once that phone rings then what you are talking about might work.

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  8. #8
    Join Date
    Nov 2009
    Location
    St Paul, MN
    Posts
    1,628

    Default Re: Earnings

    Quote Originally Posted by Stephen Tyer View Post
    There are claims by governement organizations and trade associations that self employed home inspectors earn an avg of 40k-over 100k per year.

    I want your stats, not theirs!
    If you are inspecting full time, are you atleast earning 50k per year?

    Stephen Tyer
    I think you need to differentiate between gross income and net income. I should gross between $70,000 and $100,000 this year. My net earnings will be significantly less.

    Last edited by Ken Rowe; 01-20-2011 at 10:21 PM.
    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  9. #9
    Join Date
    Mar 2007
    Location
    Spring City/Surrounding Philadelphia area
    Posts
    3,473

    Default Re: Earnings

    What Ken said. Gross receipts are one thing. Net income is entirely different. Expen$e$ and taxe$ (e$pecially $elf-employment taxe$) will cut you off at the knees just when you're feeling good about the year you've had.

    "It takes a big man to cry. It takes an even bigger man to laugh at that man". - Jack Handey

  10. #10
    Join Date
    Mar 2007
    Location
    Ormond Beach, Florida
    Posts
    26,252

    Default Re: Earnings

    Quote Originally Posted by Ken Rowe View Post
    I think you need to differentiate between net income and gross income. I should net between $70,000 and $100,000 this year. My gross earnings will be significantly less.
    You gross less than you net?

    I do believe you are in d-e-e-p d-o-d-o.

    Jerry Peck, Construction / Litigation Consultant
    Construction Litigation Consultants, LLC ( www.ConstructionLitigationConsultants.com )
    www.AskCodeMan.com

  11. #11
    Join Date
    Nov 2009
    Location
    St Paul, MN
    Posts
    1,628

    Default Re: Earnings

    I was tired...I fixed it.

    MinnesotaHomeInspectors.com
    Minnesota Home Inspectors LLC
    ASHI #242887 mnradontesting.com

  12. #12

    Default Re: Earnings

    Quote Originally Posted by Stephen Tyer View Post
    There are claims by governement organizations and trade associations that self employed home inspectors earn an avg of 40k-over 100k per year.

    I want your stats, not theirs!
    If you are inspecting full time, are you atleast earning 50k per year?

    Stephen Tyer
    Not as far as the IRS is concerned thanks to incorporation of the business.

    True Professionals, Inc. Property Consultant
    877-466-8504

  13. #13

    Default Re: Earnings

    Quote Originally Posted by neal lewis View Post
    Uh Darren, that would be a No. I could lend you some though...

    We ended up with 690 inspections for the company (two of us). Can't complain too much, except that the wife spent it all. She does let me drive her new A4 once in a while.
    The definition of a financial genius is one that can make more than his wife can spend.

    True Professionals, Inc. Property Consultant
    877-466-8504

  14. #14
    Leigh Goodman's Avatar
    Leigh Goodman Guest

    Default Re: Earnings

    Not in rural Kentucky in a county with fewer than 7000 residents even though I will travel up to 75 miles for an inspection.


  15. #15
    Join Date
    Mar 2007
    Location
    Spring Hill (Nashville), TN
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    Default Re: Earnings

    Quote Originally Posted by Leigh Goodman View Post
    Not in rural Kentucky in a county with fewer than 7000 residents even though I will travel up to 75 miles for an inspection.
    I cover about 125 mile radius! Yesterday I drove 210 miles round trip and it was a profitable day. My client could not find anyone that would drive to their middle nowhere location to do the inspection!

    Scott Patterson, ACI
    Spring Hill, TN
    www.traceinspections.com

  16. #16
    Join Date
    Mar 2007
    Location
    Knoxville, TN
    Posts
    2,446

    Default Re: Earnings

    There is a big difference between the company's gross earning, gross profit, and what the company pays me as a salary. Even in the stellar years, I still only pay myself a modest salary.

    In 2010 my wife an I took a pay cut.


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