Has Anyone Considered Diversifying Into Personal Property?

[Midwest Guy]

I speak of commerical equipment, business inventory, cars, etc... Oftentimes these are collateral in a business loan.

I am just wondering if any Real Estate Appraisers on this forum have diversified into Personal Property.

 

[Blueprint]

I speak of commerical equipment, business inventory, cars, etc... Oftentimes these are collateral in a business loan.

I am just wondering if any Real Estate Appraisers on this forum have diversified into Personal Property.

Before I give you an answer,

What peaked your interest in the personal market?

 

[Restrain]

I was involved in personal property appraisal for years but moved away due to a lack of time and data (this was pre-internet days and you had to attend auctions, etc to get data). Have actually considered this for the future but too many of these are now handled by accountants.

 

[Lee Lansford]

I was involved in personal property appraisal for years but moved away due to a lack of time and data (this was pre-internet days and you had to attend auctions, etc to get data). Have actually considered this for the future but too many of these are now handled by accountants.

As to what accountants may be doing, I believe that some accountants are active in "business valuation". On the appraiser-side of things, the American Society of Appraisers (ASA) has a membership segment (and educational offerings) with Business Valuation specialization.

If you have interest in machinery and equipment, the ASA also has a membership specialty (as well as educational offerings) in this diverse field.

 

[Midwest Guy]

Simply brainstorming. I have diversified into monthly inspections (NON APPRAISAL) for Real Estate inventory for FDIC and others. I see alot of equipment sitting around that I am told needs to be valued in current status. Somebody has to do it, not worth getting into for just that work, however I am exploring whether or not there is really going to be a market for this, assuming the "Economic Recovery" continues or even if we slip back into a recession.

Before I give you an answer,
What peaked your interest in the personal market?

---------------------------------------------------------
Accountants, I was wondering about them.

I was involved in personal property appraisal for years but moved away due to a lack of time and data (this was pre-internet days and you had to attend auctions, etc to get data). Have actually considered this for the future but too many of these are now handled by accountants.

 

[stangtime]

Once worked with an appraiser on a multi million dollar train line industrial complex. The property was a train repair facility in an urban setting. In addition to the real property there were many buildings of repair machinery, pump stations, track splits/spurs, etc. The guy I was working for at the time hired an ASA M&E guy. I found it interesting that some of the M&E guy's estimates came from places like eBay. Makes sense in a way though. (eBay does make public completed sales so a market analysis could be studied)

http://www.appraisers.org/MTSHome/WhatIsMTS.aspx

Dan

 

[Joyce Potts]

For that matter -- study up on what it takes to become a so called 'professional guardian'. Talk about a broken system that mirrors the lending industry. Cha-ching, IMO.

 

[Thomas Fiehler]

I have been overworking my brain trying to figure out a method to value timeshares. I know about their value, but I also know people who would love to donate their's to
charity but cannot because they need an appraisal to do that!

 

[Restrain]

Thomas, go to eBay for the timeshare valuations. All the info and sales you could ever want.

 

[JTip]

While on ebay be SURE to 'watch' each auction so you can actually see the closed price once the auction is completed.