UAD 3.6 floorplan required?

[Essexfenwick]

I see the future of a res appraiser being multi licensed. In NC you can be an appraiser, a home inspector and a re broker AND a pdr dude.

4 potential income streams is better than just one

It's pretty tough to be competitive working completely different jobs. Even commercial/residential appraisal are completely different and tough to work both with differing client types and liabilities. Not saying it's impossible but really like pounding a square peg in a round hole.

 

[TC]

I see the future of a res appraiser being multi licensed. In NC you can be an appraiser, a home inspector and a re broker AND a pdr dude.

4 potential income streams is better than just one

I'm three out of four. Only do one now for cigar money.

 

[Carnivore]

It's pretty tough to be competitive working completely different jobs. Even commercial/residential appraisal are completely different and tough to work both with differing client types and liabilities. Not saying it's impossible but really like pounding a square peg in a round hole.

When I started years ago we had several appraisers who engaged in re brokerage and appraising Property leasing.

The one guy was an SRPA , and his partner was a builder/re broker they owned a RE Brokerage firm.

Our Local VA Appraiser/RE broker managed rentals plus his own rentals

o I can see a Cert General being busy also appraising houses.

So here is how I see it. Some areas have a lot of res appraising in my area I live just west of Charlotte


So when you go west of me the next county over the population is considerably less.

So all things considered it depends on where you live.

That video I posted Take this job and stuff it That was meant for the PDR dudes. You know the AMC's are paying them PEANUTS

 

[ZZGAMAZZ]

Imo, appraising might work part-time for retired or semi-retired. For anyone else, why bother if you can not make enough full-time income from it? Do something else.
PDC collection pays too low to count except as a side gig. And even there, it's questionable.

RE sales is extremely competitive and requires an extrovert sales personality ( which most applicants lack.) Appraisal and home inspection are the best match - . Multiple licenses cost a fortune to maintain and time every two years, taking mandatory CE, plus a part-time employee is competing against full-time employees, who are better positioned to get and maintain business.

You think that's bad? How bout this: I used Lyft services several time recently in city with a relatively dense population, e.g., Costa Mesa, CA. Consensus about drivers is that they typically earn about $20 an hour, using their ow vehicles and paying their own gas, maintenance, etc. I had figured they woud make about $50/hour. But seems like they can't possibly make enoughto survive, although of coure the barriers to entry are nil. But damn, driving in this F'g traffic itself is enough to ruin a man's spirit. In just a week as a passenger I'm totally stoked on the idea of buriing my driver's license to protest....traffic....

 

[Bobby Bucks]

I'm three out of four. Only do one now for cigar money.

When you think you’re ready to step up to become a notary public I’ll consider mentoring you if your background check works out.

 

[Tom D]

You people are real estate experts. Learn how to flip properties. You know the values, find a good contractor, a good realtor to help you find stuff. Geez i can look up listings myself on the MLS.
Start at the lower end, and maybe not a rehab, but with a remod. Acouple of those a year and you will be hooked on easy money.

 

[Carnivore]

So this was interesting reads above. Most of you came up with reasons why you can't . In other words most of you are one trick pony show. The problem is you have competition that is also a one trick pony show. You all appraise a house sitting on some dirt.

Not trying to be disrespectful, no just telling it like it is ! The powers to be have done a good job at keeping an oversupply of labor aka re appraisers. You blind bid through the lenders or their surrogate AMC's That's a very efficient model for loan officers.

So the AMC gets a cut from the appraisal fee the loan officer stated to the borrower and will be on the HUD 1. They have to keep their lights on. They also want to make as much as they can. So they broadcast that appraisal request to all the appraiser on their list. Some lenders use an internal list of appraisers on a panel. So they pick them first , if that doesn't work they send it over to the AMC they have connections with.

Here is the problem. The AMC will play their game with you. They will sweat you out. This won't change.

I am in the camp that wants the AMC fee and appraiser fee separated on the HUD-1. I mean it is truth in lending.

 

[Essexfenwick]

So this was interesting reads above. Most of you came up with reasons why you can't . In other words most of you are one trick pony show. The problem is you have competition that is also a one trick pony show. You all appraise a house sitting on some dirt.

Not trying to be disrespectful, no just telling it like it is ! The powers to be have done a good job at keeping an oversupply of labor aka re appraisers. You blind bid through the lenders or their surrogate AMC's That's a very efficient model for loan officers.

So the AMC gets a cut from the appraisal fee the loan officer stated to the borrower and will be on the HUD 1. They have to keep their lights on. They also want to make as much as they can. So they broadcast that appraisal request to all the appraiser on their list. Some lenders use an internal list of appraisers on a panel. So they pick them first , if that doesn't work they send it over to the AMC they have connections with.

Here is the problem. The AMC will play their game with you. They will sweat you out. This won't change.

I am in the camp that wants the AMC fee and appraiser fee separated on the HUD-1. I mean it is truth in lending.

If a person actually commits to residential appraisal...gets an SRA...willing to do legal work and difficult assignments... it's still lucrative. There are very few appraisers totally committed and most just want the easy work and have one foot out the door if it becomes hard work. Easy appraisal work is an easy and lucrative job that appears to be on it's last legs. It's easier and more lucrative typically to totally commit to one service and be really good at it than have four different professions.

 

[Carnivore]

Imo, appraising might work part-time for retired or semi-retired. For anyone else, why bother if you can not make enough full-time income from it? Do something else.
PDC collection pays too low to count except as a side gig. And even there, it's questionable.

RE sales is extremely competitive and requires an extrovert sales personality ( which most applicants lack.) Appraisal and home inspection are the best match - . Multiple licenses cost a fortune to maintain and time every two years, taking mandatory CE, plus a part-time employee is competing against full-time employees, who are better positioned to get and maintain business.

I don't know what to say or how to reply to negative Nancy's like yourself, I will say this, everyday that goes by without making some money is a day lost.

 

[J Grant]

I don't know what to say or how to reply to negative Nancy's like yourself, I will say this, everyday that goes by without making some money is a day lost.

I am giving realistic advice, not negative Nancy advice. Essenfenwick said the same thing in their post #31. I do not see you name-calling them for it...

I have seen some people have two RE field licenses work for them - though I bet one license is primary income and the other side money. But four licenses? Okay...