Hi everyone.... I know this is off-topic but hopefully someone out there can help me (actually, my wife). We've been approved for a mortgage and closing is August 28th. After doing all of the math, we're about $2K short on the closing costs front. I could pick up a small part-time job to make this up but my wife, a stay-at-home mom, feels strongly about helping out financially to this end. She can't work outside the home as the babysitting costs would chew up whatever she makes so she brought up the idea of doing something from home. I don't know of any legitimate work-from-home opportunities so I'm hoping someone may know of some or know of someone who does.
DAY CARE??? I think you CAN'T do more than 2-4 kids not your own... The ads where you work at home are for the MOST PART A RIP-OFF...
One of my BEST cashiers just quit on us because of the "COST OF DAY CARE"...and she said it was going up for the SUMMER...
She has mentioned that as an option; however, there are TONS of established daycare centers in our area already. It's not a bad thought and we haven't ruled it out yet.
She has tons of experience with kids - the daycare option may be her best option. We'd have to check out the laws and get some clients quickly as the closing on our home is the end of August.
HOME CHILDCARE....that is the key. It does not matter about the established childcare in you area. If you time is flexible, low cost, and providing quality care there should be no problem finding clients. I know that is what I am looking for now myself. Post some ads in your local newspaper or even flyers.
She could always make something she really enjoys and sell it on the net? I sell stuff on the net and do well for myself, I work part time in the early mornings and have all day to do nothing but what I like.
I used to do a bit of selling on Ebay. It's easy, relatively cheap, and doesn't take up a ton of time. You can sell your own extra stuff, things found on clearance, garage sales, etc.... Kids clothes and maternity sell really well, especially brand name stuff. If she likes to shop, have her check out Target a few times a week for their clearance items, then list them on Ebay. Or go to garage sales in the more upscale neighborhoods for kids and/or household items that would sell well. Hope that helps.
Most home businesses that involve any people coming into your home, especially day-care will require additional liability insurance on your homeowners policy.In many areas you need an occupational license, a day care license and bond and may be prohibited by zoning from operating a business in your home.The ideal solutin would be for her to get a part time job, weekends or evenings when you are home to babysit. That would have the bonus of letting her get out of the house and letting you have quality kid time.
That is probably what she will wind up doing. I just have to coordinate my wokday to end early enough for me to be home b4 she has to be in for her evening job.
Check out the Nehemiah Program. You basically pay a small fee (About 1%) to Nehemiah (a 501c3 corp) and they take your money and "gift" it to the seller. This "middle man" is allowed by FHA and, it allows the seller to give money directly to the buyer in a round about way for a small fee. You can cover the buyer's cost of the gigt by increasing the sales price of the home ,assuming it will appraise. It's a great program. They say that the buyer needs 1k of their own money but they don't require them to spend it. You can do Nehemiah to cover their 3% downpayment AND you can give up to 6% to cover their closing costs! So, it's possible where a buyer gets into a house for literally NO money with an FHA loan. www.nehemiahprogram.org
...MORE...if you could be REALLY FLEXABLE...advertise take care of your kids for that party...even if it is till MIDNIGHT...day care would NOT do that...the day care I had the kids in charged $1.00/5 min after 6:00 pm!!! SATURDAY and/or SUNDAY day care when all are CLOSED!!! Going to a wedding???
Get the seller to pay closing costs, this is the best way if possible, mortgage people will use that money to benefit you, when I bought my house I paid the listing price, but specified that the sellers would pay all closing costs, up to $6,500, they agreed, and my mortgage guy had a field day, he used up every last cent, to the shock of the seller, who was told by the realtor that closing costs would be no where near that (2k or so), he tried to reneg @ the closing, but it was too late, all said & done I only needed about $1,200 @ the closing. Good Luck.
Since school is soon to be out, maybe she could offer childcare for school-age children through the summer. Maybe (???) she could care for more children in her home since they are older? I don't know how the laws work regarding that, but it makes sense to me. That way, she wouldn't be locked into doing it after August if she didn't want to continue... just until school starts back.
How about tutoring? You say that she has tons of experience with kids....perhaps she would be qualified to tutor. She would not have to be certified....just capable and able to market herself. With school ending, she may have just enough time to get her name out there. I tutor in the summer and I make a killing. I charge $20 per hour per child and I tutor 3-4 kids at a time. I also run summer "jump start" programs. These are a little less per student, but I take more kids at a time. Now, I am a certified teacher, but you don't have to be to tutor. She may just want to charge less than certified tutors in your area. I really ONLY recommend this, though, if she is capable of it. I don't mean to sound negative about that, it is just not fair to the kids otherwise. BTW....what were your scores with a construction loan and did you do full docs? Good luck! G
Thanks for the input.... My scores were: TU - 601 (real FICO) EX - 632 (real FICO) EQ - 556 (real FICO) I went full doc.
