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This 35-year-old works 75-hour weeks and earns $280,000 a year as a real estate appraiser

Non Sequitur

Elite Member
Supporting Member
Joined
Feb 14, 2002
Professional Status
Certified Residential Appraiser
State
Louisiana
The legend grows....

I'm not surprised the Appraisal Buzzard featured this guy in a podcast (Ever notice how those who have things to sell us jump all over these fanciful stories?).

Anyway, on top of all of his exploits in the source article he claims to have been ignored by prior stock brokerage employers when he recommended Amazon, Google, etc. in the early days. And surprise, surprise, years later he appraised the home of someone who ignored his stock advise, and you can guess the rest of that story. He also reveals he hasn't hired an assistant because he doesn't want to pay too much because appraisal work is seasonal. And he speaks regularly at title companies and real estate brokerages. Again, all without an assistant.

I smell a sales pitch coming, hold on to your wallets.
 
Last edited:

cds01

Freshman Member
Joined
Dec 1, 2015
Professional Status
Appraiser Trainee
State
Texas
He was my supervisor for a time. Great guy and 100% legit.

He has insane focus as if he has an octa-core processor in his brain. For example, he used to have CNBC on in the background, a podcast running, stock charts running and trades being input, hold a conversation with me, catch everything being thrown at him, and write a report concurrently without losing his place. Not everyone is gifted in that way, and therefore not everyone can do what he does; he's basically a robot. I continue to bill about $10,000 a month myself evenings and weekends as secondary employment, so the efficiency factor is definitely possible. If I did valuation full time (and assuming the volume was coming in the door), I couldn't see myself doing more than about $220k-240k annually. I'm just not cut from the same cloth. I also do a lot more hand-wringing when deciding where to value something (like I have a range but I feel emotionally torn on where to place it). He doesn't have that issue. His ability to make an executive decision is exceptional. Wouldn't it be great to look at the data, say "my subject belongs here in the range", plop in the number, and upload to the lender? After all my analysis is done and the appraisal is 99.99% complete, I'd estimate I do about 30 minutes worth of worrying who will get mad if I assign OMV at one level versus another. Whatever value I choose to select is supported by the range and the data, but one value could be deemed too conservative or too aggressive depending who is reviewing.

FWIW, as compared to the CNBC interview, this is closer to what he's like in real life (though he's more animated then this). The interviewers on CNBC require very truncated answers that don't give context for why he's saying what he's saying.
 

Alsie35

Freshman Member
Joined
Sep 14, 2020
Professional Status
Certified Residential Appraiser
State
California
He was my supervisor for a time. Great guy and 100% legit.

He has insane focus as if he has an octa-core processor in his brain. *SNIP*
Thank you for giving us the "rest of the story". Some people have "talent stacks" that allow them 'to leap tall buildings' compared to the average human. However, I'd venture to say that the insane focus you say he has might be a detriment to building a family life. His choice, of course. My guess is that he might slow down for that when he reaches whatever financial goal he has set.

The only thing I'll add to this thread is Dr Jordan Peterson's observation that most people, especially young people, are totally unaware of what they are truly capable of doing. Its true. Especially when you bring life experience and skill from different disciplines to it.

Without derailing the thread too much, I'll add one personal example - when I was younger I wound up deployed to a combat zone for a year attached 'at the hip' to the Commanding General. (If you think you've met "intense" people, they had nothing on this guy, who had been a decorated Vietnam combat soldier in his youth). It was a year with no family (son was born while I was deployed), no time off, no weekends and often no nights - because sometimes I'd be woken up in the middle of the night and told I was being flown by UH-60 someplace on a mission, back by daybreak, then repeat.

What that year did for me in our business, decades later, was to give me the focus and mental ability to 'flip a switch' and go all out, 7-days a week, with complete focus for extended periods of time when needed (I found that as I have gotten older, I am running on fumes after doing this for 6-7 months, then its time to take some time off to recharge).

The point here is that it would never have occurred to me to try to do that kind of pace had it not been for my prior military experience that showed me I COULD do it.
 

cds01

Freshman Member
Joined
Dec 1, 2015
Professional Status
Appraiser Trainee
State
Texas
Thank you for giving us the "rest of the story". Some people have "talent stacks" that allow them 'to leap tall buildings' compared to the average human. However, I'd venture to say that the insane focus you say he has might be a detriment to building a family life. His choice, of course. My guess is that he might slow down for that when he reaches whatever financial goal he has set.

The only thing I'll add to this thread is Dr Jordan Peterson's observation that most people, especially young people, are totally unaware of what they are truly capable of doing. Its true. Especially when you bring life experience and skill from different disciplines to it.

Without derailing the thread too much, I'll add one personal example - when I was younger I wound up deployed to a combat zone for a year attached 'at the hip' to the Commanding General. (If you think you've met "intense" people, they had nothing on this guy, who had been a decorated Vietnam combat soldier in his youth). It was a year with no family (son was born while I was deployed), no time off, no weekends and often no nights - because sometimes I'd be woken up in the middle of the night and told I was being flown by UH-60 someplace on a mission, back by daybreak, then repeat.

What that year did for me in our business, decades later, was to give me the focus and mental ability to 'flip a switch' and go all out, 7-days a week, with complete focus for extended periods of time when needed (I found that as I have gotten older, I am running on fumes after doing this for 6-7 months, then its time to take some time off to recharge).

The point here is that it would never have occurred to me to try to do that kind of pace had it not been for my prior military experience that showed me I COULD do it.
Do love me some Peterson. Coincidentally, when I called Terrence the other day, he had Peterson on in the background while he was working.

I firmly believe everyone on this board could be more efficient whether inspection, scheduling, analyzing, writing. Whenever you're doing something associated with your job (or life in general) and get irritated, know there is a better way or an opportunity to build a better way and sell it to others.
 

Alsie35

Freshman Member
Joined
Sep 14, 2020
Professional Status
Certified Residential Appraiser
State
California
Do love me some Peterson. Coincidentally, when I called Terrence the other day, he had Peterson on in the background while he was working.

I firmly believe everyone on this board could be more efficient whether inspection, scheduling, analyzing, writing. Whenever you're doing something associated with your job (or life in general) and get irritated, know there is a better way or an opportunity to build a better way and sell it to others.
I would just add that the concept of "The Talent Stack", coined by Scott Adams, was of great value to me when I first read it. That, and Adams's concept of "Systems over Goals". (Meaning - don't have goals, but have a system that keeps you moving forward). Simply put, a well-developed 'talent stack', when combined with a well-thought out 'System' can make 1 + 1 = 3 Not just in business, but in EVERY area of your life.

Below is a link to a good article re: the "Talent Stack" concept. Your former mentor has an unusually well-developed one for a young fellow. That, plus his natural smarts and the system he developed is the "why" behind his success. Not many 'kids' like that around. Most of us take significantly longer (even by several decades) to get somewhere close to that, and then don't have the time to do what he will be able to do with it.

The 'Talent Stack' link: https://www.stedavies.com/talent-stack/
 

Rick Stillman

Thread Starter
Senior Member
Joined
Jan 19, 2014
Professional Status
Certified Residential Appraiser
State
Colorado
I would just add that the concept of "The Talent Stack", coined by Scott Adams, was of great value to me when I first read it. That, and Adams's concept of "Systems over Goals". (Meaning - don't have goals, but have a system that keeps you moving forward). Simply put, a well-developed 'talent stack', when combined with a well-thought out 'System' can make 1 + 1 = 3 Not just in business, but in EVERY area of your life.

Below is a link to a good article re: the "Talent Stack" concept. Your former mentor has an unusually well-developed one for a young fellow. That, plus his natural smarts and the system he developed is the "why" behind his success. Not many 'kids' like that around. Most of us take significantly longer (even by several decades) to get somewhere close to that, and then don't have the time to do what he will be able to do with it.

The 'Talent Stack' link: https://www.stedavies.com/talent-stack/
Wow - what a great lecture by Scott Adams. I had no idea he had such an extensive educational and business background. I learned a lot from his talk.
 

Elliott

Elite Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Oregon
"Talent Stack" sounds like something said in a Pyramid lecture by Scot Yancey ("Flipping Las Vegas") at a Yancey Event.

Like I said before, I'm all for young people working hard to pay taxes that pay for my social security. Just don't understand how he parks $40K to avoid taxes. I hope he has time to smell the roses, too. There are easier and harder ways to learn, "You can't drink all the whiskey in the county."
 

Alsie35

Freshman Member
Joined
Sep 14, 2020
Professional Status
Certified Residential Appraiser
State
California
"Talent Stack" sounds like something said in a Pyramid lecture by Scot Yancey ("Flipping Las Vegas") at a Yancey Event.

Like I said before, I'm all for young people working hard to pay taxes that pay for my social security. Just don't understand how he parks $40K to avoid taxes. I hope he has time to smell the roses, too. There are easier and harder ways to learn, "You can't drink all the whiskey in the county."
Perhaps he means that he puts $40K a year in SEPP (Self-employed Pension Plan). That would be my guess. I'd have to check the %, but at his stated level of income that number might be close.
 
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