Hi im 24, I am trying to find my career path. I love real estate, my best friend in a realtor and we invest in real estate and flip houses. So I was thinking about becoming an appraiser, but everything I read is so negative about it, Im not sure, any advice would be appreciated...thanks
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should I become an appraiser in Indiana?
- Thread starter Kariann12
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Tim The Enchanter
Elite Member
- Joined
- Jan 24, 2002
- Professional Status
- Certified Residential Appraiser
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- California
I wouldn't be that grim. Been hearing that since not long after I started appraising in 1992. 
Still, if you're making money at what you're doing, I'd stick with that. It's a tough time these days.
Still, if you're making money at what you're doing, I'd stick with that. It's a tough time these days.
If you are thinking about doing appraisals for mortgage work, I'd say definately no.
If otherwise, I'd say probably not.
You might look up various appraisal firms in the yellow pages and ask about becoming a trainee. Most likely you will find no one with any positions open. I do know from my recent continuing education classes that they are not even offering the introductory classes due to low enrollment.
Many appraiser's in Indiana are not renewing their licenses. All indications are this would be a bad time to get into the profession.
An old joke has been morphed to appraising: An appraiser won a million dollars in the lottery and when asked what he would do, he replied he would continue appraising until he ran out of money.
If otherwise, I'd say probably not.
You might look up various appraisal firms in the yellow pages and ask about becoming a trainee. Most likely you will find no one with any positions open. I do know from my recent continuing education classes that they are not even offering the introductory classes due to low enrollment.
Many appraiser's in Indiana are not renewing their licenses. All indications are this would be a bad time to get into the profession.
An old joke has been morphed to appraising: An appraiser won a million dollars in the lottery and when asked what he would do, he replied he would continue appraising until he ran out of money.
Doug Meyer
Senior Member
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- Sep 13, 2003
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- Certified Residential Appraiser
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- Indiana
Continue to flip your houses and why don't you become a Realtor? There are too many appraisers in Indiana and not enough work going around at this time. Will the market change back, yes it will but not for a few years....
LA Woman
Member
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- Jul 18, 2007
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- Certified Residential Appraiser
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- California
Becoming a licensed appraiser and a licensed real estate agent will aid you in your current business. But don't plan on iappraising becoming your main business and don't plan on it making you a profit.
You are in the best position right now in your current work, there has never been a better time in our lifetime to be an investor. Stay with the investing, take more seminars from the "real" RE Gurus who can help you with investing in this current market.
Nobody ever got rich appraising, but they did from acquiring real estate. You are on the right track now, don't stray, just keep on learning about investing and you could end up retiring by the time you are 40!
IIf you buy and hold at least 1 house per year, eventually you will live of the income from these rentals. Not to mention the money you make in the meantime from fixing and flipping. Also look into wholesaleing properties to other investors.
Good luck to you, from a former Hoosier!
You are in the best position right now in your current work, there has never been a better time in our lifetime to be an investor. Stay with the investing, take more seminars from the "real" RE Gurus who can help you with investing in this current market.
Nobody ever got rich appraising, but they did from acquiring real estate. You are on the right track now, don't stray, just keep on learning about investing and you could end up retiring by the time you are 40!
IIf you buy and hold at least 1 house per year, eventually you will live of the income from these rentals. Not to mention the money you make in the meantime from fixing and flipping. Also look into wholesaleing properties to other investors.
Good luck to you, from a former Hoosier!
AppraisalTwin32
Sophomore Member
- Joined
- Aug 19, 2007
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- Certified Residential Appraiser
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- Indiana
Hello Kariann,
In my relatively short career as an appraiser (three years thus far), I have learned a great deal that has been very beneficial in my investment partnerships. I would have to agree with my colleagues, however, that appraisal as a career is basically a "shot in the foot" for anyone trying to enter right now. Even as an appraiser, I have begun focusing heavily on investment based on the outlook for appraisers in the future.
My initial investment was well over $10,000 simply to obtain the adequate education and experience to feel competent in my abilities. Between software costs, licensing costs, education costs, gasoline, E&O insurance, Appraisal Institute dues, and MIBOR dues; it becomes a very capital intensive industry to enter. Also, as a trainee for two years (minimum) I would not expect to make any sort of profit. If your goal is to become an avid real estate investor, there are probably better part-time jobs which wouldn't require the upfront costs appraisal does.
This being said, there really is no substitute for the knowledge you can gain about value, buyers wants, price trends, etc. than you can gain as an appraiser. For me at least, it has led to an astute eye for investing.
The posts so far have been from appraisers with much more experience than I, and I'm sure their opinions hold more weight than my own. I just wanted to give you a perspective from a relative "newbie." I wish you the best in your investment career, however I don't want you to make a substantial investment in an appraisal career which would most likely be very difficult to turn a profit.
In my relatively short career as an appraiser (three years thus far), I have learned a great deal that has been very beneficial in my investment partnerships. I would have to agree with my colleagues, however, that appraisal as a career is basically a "shot in the foot" for anyone trying to enter right now. Even as an appraiser, I have begun focusing heavily on investment based on the outlook for appraisers in the future.
My initial investment was well over $10,000 simply to obtain the adequate education and experience to feel competent in my abilities. Between software costs, licensing costs, education costs, gasoline, E&O insurance, Appraisal Institute dues, and MIBOR dues; it becomes a very capital intensive industry to enter. Also, as a trainee for two years (minimum) I would not expect to make any sort of profit. If your goal is to become an avid real estate investor, there are probably better part-time jobs which wouldn't require the upfront costs appraisal does.
This being said, there really is no substitute for the knowledge you can gain about value, buyers wants, price trends, etc. than you can gain as an appraiser. For me at least, it has led to an astute eye for investing.
The posts so far have been from appraisers with much more experience than I, and I'm sure their opinions hold more weight than my own. I just wanted to give you a perspective from a relative "newbie." I wish you the best in your investment career, however I don't want you to make a substantial investment in an appraisal career which would most likely be very difficult to turn a profit.
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