Does an Investor need an Appraiser?
I am very interested in real-estate as an investor however I do not have any
relatives or friends in the business who can help me get started and learn
the process.
I feel that one can read all the books and listen to all the tapes out there... but the best way to learn is hands on.
I was wondering if becoming a licensed real-estate appraiser would be a
great way to learn the business and make contacts. It would seem that one
of the most important pieces in real-estate would be to determine how much a
property is worth.
Don't know what the licenceing requirements are in your state, but in Michigan an appraiser takes a lot of education. 160 hours if memory serves. For entry level a salesperson licence is the easiest, just 40 hours of class and the state exam. then you have to work under a broker for 3 years and take 90 more hours to get brokers level licence. I was an investor first and after a souring experence with an agent, went to get my own licence, and now will be taking my brokers exam this week. Good educational experence for investors to take the entry class even if you don't get the licence. Good luck, Scott
You don't need to be an appraiser nor a real estate broker to invest in real estate. But once you start investing you might want to get your brokers license because you can get a 3% discount off of your purchases.