Independent title and settlement agency

Buyers, sellers and lenders, usually paid at closing. Real estate agents, lenders and attorneys decide where to send the business.

Title insurance premiums (your share after the underwriter's cut), plus settlement, escrow, recording and document fees charged per transaction.

• Detail-focused with legal and financial paperwork
• Relationship building with real estate agents and lenders
• Clear communication with stressed buyers and sellers

• State licensing for title agents, escrow officers or settlement agents, and whether your state requires an attorney to handle closings
• Underwriter approval, which often requires experience, minimum capital or a bond, so check each one's rules
• Errors and omissions insurance, fidelity bond and general liability insurance
• Handling other people's money: rules on escrow or trust accounts, reconciliation and audits are strict
• Wire fraud and data security risks around closing funds and personal information
• Business depends on the housing market, so income can swing when sales slow down

Startup costs are typically around $15,000 to $70,000, depending on your state, office setup, insurance, bonding and what your underwriter requires. Check each underwriter's rules on capital or bonds before you commit to a lease or equipment.

Monthly revenue is typically around $5,000 to $25,000 as an estimate, depending on how many closings you handle and how strong your referral relationships are. Income can swing when home sales slow down, so plan for quieter months.

Check state licensing for title agents, escrow officers or settlement agents, and whether your state requires an attorney to handle closings. Also check underwriter approval rules, errors and omissions insurance, bonding, and escrow or trust account requirements.