EarlyBird
08-22-2007, 01:25 PM
GOODNESS! what a day-
First of all, heres a little briefing- im 21- been working for my dad since i was 15. He owns a mortgage company- I learned everything i could and as soon as i turned 18 became the manager for processing over here. As most people know, the market is not doing so well, and the mortgage business is having a big problem. (in florida its exceptionally bad too) We have always made alot of money in the business and therefore since i was 18 i was making a pretty great salary.
My dad is my best friend and i would always be here for him as i know he would be for me (duh- kind of stupid thing to say but ... just read on :) ) SOO.. even when it has been really bad and i am only getting paid when we can, i have dealth with it. I have still worked, even when i have had to wait for a paycheck or two (dad and i always take last , so all other employees can get paid) Well- alot of of employees have left but we have hit rock bottom. no more loans.. we have about 4 and they are all closing soon. its getting really bad- and while im worried for myself, i have not wanted to leave my dad- I have had the luxury of not having to worry as much about money b.c fh has a great job and we have money put away b/c i have been making great money for years... I have just been so worried about my dad so i have been loyal. Today my dad came in to my office and said "listen, i know a bunch of other brokers and i really want you to start contract processing on your own. Charge per file and ill give you all my loans too. You can stay in the office, nothing will change except for the fact that you will be having alot of other accounts- under your corporation."
Im freaking out. i know this is the best way to go. and since we started making calls this morning, i already have 5 appointments to meet with loan officers who want me to contract process their loans. but im scared to death.
We put into the state to make a corporation in my name. but when i woke up this morning, i was snug with the fact that i was working for my dad. and now, im going to be a business owner. Im doubting myself b/c things kind of hit me in the face. im pretty **** scared that i cant do this. UGH!
Well i needed to let it out b/c i have been crying pretty much all day- i wasnt ready for a change like this at all- But wish me luck :(
I know a couple of you own your own business too. did you guys have this fear? Of course your situations are different b/c you probbably thought about it more then 15 minutes but i know that no matter what i can walk away if it doesnt work. Im not buying anything - im even going to be using my dads supplies. He and my mom told me they are just trying to protect me and make sure im still ok even if their company has to close.
my dad even said " hah who knows, maybe we'll close this place and i will apply for a job with you- what a switch that would be- you would be paying me :) " Yah real funny dad but dont you think the wound is a little too fresh to joke??
Oh dads- always trying to get us to crack a smile when its the last thing we want to do.
First of all, heres a little briefing- im 21- been working for my dad since i was 15. He owns a mortgage company- I learned everything i could and as soon as i turned 18 became the manager for processing over here. As most people know, the market is not doing so well, and the mortgage business is having a big problem. (in florida its exceptionally bad too) We have always made alot of money in the business and therefore since i was 18 i was making a pretty great salary.
My dad is my best friend and i would always be here for him as i know he would be for me (duh- kind of stupid thing to say but ... just read on :) ) SOO.. even when it has been really bad and i am only getting paid when we can, i have dealth with it. I have still worked, even when i have had to wait for a paycheck or two (dad and i always take last , so all other employees can get paid) Well- alot of of employees have left but we have hit rock bottom. no more loans.. we have about 4 and they are all closing soon. its getting really bad- and while im worried for myself, i have not wanted to leave my dad- I have had the luxury of not having to worry as much about money b.c fh has a great job and we have money put away b/c i have been making great money for years... I have just been so worried about my dad so i have been loyal. Today my dad came in to my office and said "listen, i know a bunch of other brokers and i really want you to start contract processing on your own. Charge per file and ill give you all my loans too. You can stay in the office, nothing will change except for the fact that you will be having alot of other accounts- under your corporation."
Im freaking out. i know this is the best way to go. and since we started making calls this morning, i already have 5 appointments to meet with loan officers who want me to contract process their loans. but im scared to death.
We put into the state to make a corporation in my name. but when i woke up this morning, i was snug with the fact that i was working for my dad. and now, im going to be a business owner. Im doubting myself b/c things kind of hit me in the face. im pretty **** scared that i cant do this. UGH!
Well i needed to let it out b/c i have been crying pretty much all day- i wasnt ready for a change like this at all- But wish me luck :(
I know a couple of you own your own business too. did you guys have this fear? Of course your situations are different b/c you probbably thought about it more then 15 minutes but i know that no matter what i can walk away if it doesnt work. Im not buying anything - im even going to be using my dads supplies. He and my mom told me they are just trying to protect me and make sure im still ok even if their company has to close.
my dad even said " hah who knows, maybe we'll close this place and i will apply for a job with you- what a switch that would be- you would be paying me :) " Yah real funny dad but dont you think the wound is a little too fresh to joke??
Oh dads- always trying to get us to crack a smile when its the last thing we want to do.