Today on the BiggerPockets Podcast we sit down with Ryan Lundquist, a professional real estate appraiser in the Sacramento area. An appraiser is one of the most important professionals that you, as an investor, are likely to deal with over and over in your business. Furthermore, knowing how to deal with an appraisal, especially when it comes in too low, is a skill that can help any investor.
Keeping with the “actionable content” approach that BiggerPockets is known for, this podcast will help you improve your investing by pulling back the curtain on the appraisal industry through our discussion with Ryan.
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In Today’s Podcast, We Cover:
- How you can determine what a property is worth.
- When you should, and shouldn’t, use Zillow or other AVMs.
- How to challenge a bad appraisal.
- What to do when sales prices are higher than the appraiser will go.
- Dealing with the Hedge Funds in the market.
- Tips for getting your appraisal amounts higher by bringing your own comps.
- Dealing with FHA loans in your investments … and the dreaded FHA Appraisals.
- The most common property condition problems an appraiser is going to ping you on.
- How to deal with lead based paint in your investments.
Links From the Show:
- Ryan’s Recent BiggerPockets Blog post: How to Challenge a Low Appraisal
- BP Podcast 004: Commercial Real Estate Investing With Frank Gallinelli
- How Legos Can Help us Understand Real Estate
- What Legos Can Teach us About Real Estate Part II
- Appraisal Woes – BiggerPockets Forum Discussion
- The BiggerPockets FHA Home Inspection Checklist
- FHA Lead In Your Home: A Parents Reference Guide
“The first step in discovering your property value is defining your location.” (Tweet This!)
“Why not be proactive instead of reactive?” (Tweet This!)
“In business, go in as a bridge builder, not a name caller.” (Tweet This!)
“Investors: Get to know an appraiser – take them out to lunch, build that relationship.” (Tweet This!)
“Understand your market at the same level that your appraiser does.” (Tweet This!)
Ryan Lundquist is a certified residential real estate appraiser based in Sacramento, CA. He provides appraisals and valuation consulting for a variety of clients including CPAs, attorneys, investors, home owners and lenders. Ryan is an avid blogger, bike rider, optimistic doer and family man with two sons.