Thread: 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

Yes, by May.

Neal,

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

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!

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.

Neal,

If you're offering, I taking.

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

Thanks!

Originally Posted by Robert Humphries

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.

Originally Posted by Stephen Tyer

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.

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.

Originally Posted by Ken Rowe

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.

I was tired...I fixed it.

Originally Posted by Stephen Tyer

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.

Originally Posted by neal lewis

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.

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

Originally Posted by Leigh Goodman

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!

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.