So, I'm new to REI in Atlanta and I'm ready to solidify a plan and execute!!! I've been working with a mentor in the wholesaling area for a few months now and I've learned a ton. I've also read a few books and learned ALOT from BP. As I was thinking about what exactly my goals were and how to obtain my thoughts went to becoming a certified appraiser. Wouldnt this be extremely beneficial when calculating ARV? If any of you are has it helped you in other ways?
If you have a background in building I think being a certified appraisers a great idea
If you don't have a background in building I think you're better off learning how to negotiate with the sellers and getting somebody else to calculate renovations, like a General Contractor.
Watch the flipping shows on television, they always have a GC with them
I am a state certified appraiser (Georgia) and own rental property. I do more commercial than residential appraising, but have been in the business for 11 years. In my opinion, being an appraiser is helpful (it can't hurt!), but I don't think it is something I would recommend doing just for REI purposes.
In my opinion, knowledge of a particular niche/market and working with the right people is far more important than any concepts you will pick up as an appraiser. Although appraisers play a role in the process, prices are generally set by buyers/sellers (and their agents), not appraisers. Plus, although it is not that expensive or time consuming, you will have to keep up with continuing education and licensing fees every year to keep an appraisal license. That is time and money directly taken away from REI.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing