All Forum Posts by: Tracy Percival

Hello all!

I am looking for a property manager in Myrtle Beach South Carolina. Does anyone know a reliable company?

Thank you!!

Hello

An appraisal would show a more accurate square footage. Also the tax assessors office should be pretty accurate as well with their sq footage.

The MLS is filled with errors, and as an appraiser, I constantly have to check and recheck all of my data sources, especially the local MLS.

If you did not have an appraisal done, I don't know of any recourse you may have, as that should have given you accurate information pertaining to the property.

Good Luck!

Jay

There is nothing unethical about an appraiser buying their own properties or building their own. What would be unethical is if you appraised it or had someone you know appraise it.

I don't know if the job outlook is accurate for NJ appraisers, as we are overcrowded in the residential market with appraisers. Commercial appraisers seem to be doing alot better, as there aren't too many of them. I can't tell you how many times I get asked if I do commercial appraisals, so I definitely have that on my "to do" list. I just have not had the time to take the required classes in order to do commercial appraisals.

Anyway, good luck!

Hi Jay

I am an appraiser in NJ and own my own company here doing residential appraisals for lenders and tax asessments.

I am not sure of the requirements in your state, but in NJ, you have to work under a supervisor for 2 years or 2000 hours of appraisal work, before you can be licensed. Finding qualified supervisors who you will learn from is not an easy task. Once licensed, you then have to take minimum continuing education classes, regularly.

As far as the ethics concern, that dealfiles spoke of, you would not be able to appraise the property you are buying, nor can anyone you know appraise the properties, that would be unethical, and a violation. But your new appraisal knowledge, definitely would come in handy when trying to purchase properties.

In my opinion, the appraisal career is alot of work to get started.

Property management would be perfect for a future investor. No matter what you decide, you will be sure to learn from any of those choices, so go for it!

Good Luck!

Hydromint

I own a appraisal company in NJ and I do revaluation appraisals for tax assessements in over 50 homes a week and I love the job!!.

In NJ, You will have to complete schooling, work under a supervisor for 2 years or 2000 hrs of work, then take a test for lisencing. In 2008 the rules are changing and you will need a college degree to be licensed and you will have to be Certified (more schooling and another test) in order to be supervisor to any trainees.

It is very difficult to get work as a trainee, as it takes time and work to train someone. Once you are lisenced and network for business, it's really a great business. you can work as much or as little as you want, on your own schedule, and the money is great. I have a type A personality, and I love money, so I am always working :mrgreen:

The benefits it provides to investing, is a definite plus. It is certainly something that takes time to learn and experience, won't happen over night. Every home I go into, I can't help but "see" things most people don't even notice, so it has helped me in many areas.

However, It is alot of schooling, (continuing education is a requirement) and field training, so I don't know if it would be worth it, if you don't plan on doing it as a profession.

I think you can try some initial courses online, try VanEd.com and McKissock.com. OR maybe even get a book, if they have one. hmm I just had an idea....

Good Luck, in the mean time, if you have any questions, feel free to ask!!

WOW, thanks Jeff & Mike for the time you guys put in to my post!!!

I appreciate your advice and will follow what you said Jeff. The lease was signed by the mother, not the son, so she is the only one liable. I never would have thought of half of those things you suggested.

This is why I love this site!!!

THANK YOU!!!

Thanks for the input Mike, I appreciate it!

Hello all,

I have a 2 BR condo in SC that is currently being shared with my son and another college kid. I have a lease with the kids mother, who lives in Maine, until the end of December, to include rent and 1/2 of the Gas/elect bill. The kid has decided that a golf career isn't for him, so he is leaving the school & the condo.

The family has not called or written me to inform me of this, I found out via my son yesterday, that he was leaving next week and doesn't plan to pay the rest of the lease. I have tried via email and phone to reach the family with no return calls. I have a feeling they do not intend to uphold the lease.

My question is, is it worth pursing legally? The balance of the lease would be $4000 + approx $400 for his portion of gas/elect., so $4400.

What is entailed with pursing a tenant (out of state) in time and approx. dollar amounts with legal fees?

Congrats Minna and good luck with it!

Hi Mini Mouse,

What company were you using for your information?

I do not use them for their Automated Valuation Models (AVM's), as they are often inaccurate. But I think you are right regarding some companies. Property Shark, e.g., is great for the NY area, they are just getting into NJ, so the information is not complete or reliable. I don't know how accurate they are in other states though.

As far as Realquest, they have not let me down in 3 years as far as sales information and the other invaluable information they provide me and my appraisers. I use them for comp history, mortgage & deed history on the properties, tax information, liens etc.. Actually, I trust them more than any other data source, for accuracy, including all MLS systems(which I find the most inaccurate). We always check and recheck our data from multiple sources anyway, (which I highly recommend), and I have to tell you, they have not been wrong yet. Not to say they couldn't be inaccurate in other states, I wouldn't know. I only appraise in NJ and NY.
There should be some sort of data source company for your state that has accurate information, if not, might be a good business for someone to start up!! :wink:

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