All Forum Posts by: Eric Thomas

@Chris Mason, thanks very much for the feedback.  When talking to the local appraisers, I was expecting to pay for the full/traditional approach and not getting a one-off version - just couldn't find anyone to do it.  Since I haven't seen any feedback about virtual appraisals being available, I'll just try calling the local guys again and be more specific about that, along with making sure they know I can provide pictures easily and that no underwriters or loan officers need to be involved. Hopefully that will get things rolling.

I feel a bit like Julia Roberts in "pretty woman" running around with money in my hand but can't get anyone to take it.

Thanks again!

Does anybody have suggestions on any virtual appraisers out there who will do work for investors rather than banks? We have a property in a trust where the grantor has recently passed, and we need to establish a "step up" basis for tax assessment. I've called a half dozen appraisers and nobody will touch it - either way too busy with their bank and mortgage work, or because it's outside of their city/zone (rural Alabama).  Seems like the need for this would have kicked up a bit during the pandemic, but maybe not.

Thanks!

(sorry if cross-posting... I asked this in "starting out" last week, but no suggestions yet)

Maybe a newb question, but does anybody have suggestions on any virtual appraisers out there who will do work for investors rather than banks?  We have a family property in a trust where the grantor has recently passed, and we need to establish a "step up" basis for tax assessment.  I've called a half dozen appraisers and nobody will touch it - either way too busy with their bank and mortgage work, or because it's outside of their city/zone (rural Alabama).

Thanks!

Of course, my opinion is worth what people pay for it (zip) but I'd say for that particular location, you might even want to look street by street.  If you look at the comps on something like zillow and then a satellite view on google, you might see (if i'm looking at the right property) that the nearby houses selling in the ~$85/sqft range are clustered together with nice yards / nice driveways / pretty neighboring houses, etc.  I would question being able to flip that particular one for too much gain, and while you might be able to get a decent rent price, your tenant turnover could also depend on the neighbors. I'd suggest a site visit, or like Michael Tincher suggested, get someone on location to be your feet on the ground.  Best of luck!