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How's The Life & Career Of An Appraiser?

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If you want to see your family, make them part of your appraisal business. Many successful appraisers are husband wife/teams or a wife as an assistant or vice versa. Here's the plan....marry an established GC appraiser and have her train you!
 
Earnings and opportunities are somewhat regional as well. Go to the ASC website and look up how many appraisers in each state. Some states have oversupply and some undersupply. If you are willing to travel/relocate for the right training opportunity, that will help. Rural areas are often short of appraisers and agricultural appraising seems to be in demand. A small city with outlying rural areas might be a good spot to set up practice, for example .
 
deish, There is stress in any business that YOU own and build... even though Obama says "you didn't build that". LOL Stress to keep client orders coming in, stress to make dead lines, growing pains of business such as needing to hire help but not *quite* yet there financially, etc. When I take a vacation, it's always in the back of my mind that I am actually losing $$$$. And as a business owner, the old saying that when the cat is away the mice will play is very true. I haven't had a truly "mind free" vacation since I was a pay roll employee over 20 years ago. That's not to say I don't enjoy my vacation and we do plan well ahead financially, sometimes 2 years in advance. It's just always there in the back of your mind...
 
I understand that any/ most professions that are financially fulfilling require hard work & dedication and the only place you start at the top is digging a hole. I'm not trying to avoid the necessary time & energy needed to become a successful and competent appraiser, as everything I've accomplished in my life never happened overnight. From the outside looking in & comparing to a traditional corporate america 9-5, it seems as appraisers have the potential to earn as much as the time & energy they'll willing to invest. They have the ability to spend more time out the traditional office and in their home office or in the field. They have the ability to accept as much work as they can handle and reject work when they desire not to. They can schedule their day/ work around whats best for them, they see their families more, etc. Also, Im 29 years old and 5 years is not an awful lot of time to push toward a career that has the potential to earn 60,70-100k will also having the ability to make decent money along the processwoohoo. Comparing to going back to school to attain an MBA where I may be able to land a job/ career earning 50/60k year salary with a limited income "potential" and have to answer to someone every day or under lay-off/ fire potential for the next 20 yearsm2:. Visioning myself 5-10 years from now taking on the course of becoming a certified general appraiser versus going back to school getting a MBA and landing a corp position seems like I would thank myself for the appraiser path, as anything worth having is going to be hard work and dedication. What are some the pros and cons of the appraiser path/ career when you identify them compared traditional salaried careers. Do you regret the path you choose? For some odd reason I look at interviews of appraisers on youtube and none seem to have a overly stressed lives and seem fairly happy:shrug:

I don't regret my career path at all, I love my job, I personally feel like my life is like the way you are describing. Couple of caveats, my job didn't make me this way...being an appraiser doesn't make you a low stress or happy. I know plenty of miserable appraisers, and plenty happy appraisers...nothing to do with their career, because this is true in any business/career. I'm at this point in my life, after nearly 15 years of long terrible hours. That kind of income you have sought, consistently over your career can only come from a stellar reputation and a constant drive to be the best...not good, best. That takes many payless days, firing your best client when they ask you to do something you cannot do, spending years working on designations and credentials that add $0 to the ledger, and volunteering on boards and committees.

I wouldn't trade it for the world, I've been both residential and commercial and I work within your market. I will say the happiest I've been was the day I said no more lending assignments commercial or residential. The second best day was when I said adios to residential, although I enjoyed residential appraising I despise the business of residential appraising...which is a nuance you will understand one day.
 
Residential appraising...
 

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I am not sure if you developed your mortgage contacts in the Detroit area or not, but if you didn't, the best thing you could for your family is run away from there like your hair is on fire.

If you must stay, I would cultivate some of those contacts into a workable real estate plan since you have some investing background.

You will never own your time and make 100K working for someone else, unless you're a high demand surgeon type. OTOH, 100K investing, flipping, birddogging properties for the right people is a shorter destination and on your own work schedule.

Hindsight is 20/20 but how different would your life be now, had you purchased cash flowing rental properties in the go-go days?

I'd noodle out a plan to use your financing experience and contacts, your Communications skill and novice investor status to full advantage. IMO, it is the most viable path to what you seek. (unless you have the skills (technical analysis) and temperment (no scared money allowed) to daytrade).

Good luck.
 
It's a horrible idea and you should feel bad for even considering it, given your goals.
 
You will never own your time and make 100K working for someone else, unless you're a high demand surgeon type. OTOH, 100K investing, flipping, birddogging properties for the right people is a shorter destination and on your own work schedule.

That's not true in the slightest, I make well over that....work for someone else, and own my own time. I know plenty of commercial appraisers that do as well, in Michigan and all over the country.
 
hardly easy, my mentor wants to retire. He grosses 150-175. Im doing residential with no current plans to go commercial (due to education requirements).

He has been in business for 13 years, but i feel that he does too many "free verbal" assignments, under values his hourly wage for commercial work.

When he retires my/our clients will be in for a fee increase.
 
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