Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Teri Pegnataro

Teri Pegnataro has started 5 posts and replied 9 times.

Post: Apprasiers, I need your help

Teri PegnataroPosted
  • Posts 9
  • Votes 0

Thank you!

Post: Apprasiers, I need your help

Teri PegnataroPosted
  • Posts 9
  • Votes 0

Hi All,

I am taking a Real Estate class, and I have to interview an appraiser. Any help would be greatly appreciated if you could answer the following questions.

  1. How do methods differ when the appraiser looks at residential, multifamily, or commercial properties?  (Methods are:  Cost and income approach or sales comparison)
  2. What role do real estate agents and finance companies play in the appraisal process?
  3. How are appraisers trained and ultimately licensed?
  4. How do you choose a "good" appraiser?
  5. Out of the three primary appraisal methods (Comparison Approach, the Income Approach, and the Cost Approach), which ones can be applied to residential, multifamily, and commercial?

    Looking forward to hearing your answers.

    Hi All,

    I am taking a Real Estate class, and I have to interview an appraiser. Any help would be greatly appreciated if you could answer the following questions.

    1. How do methods differ when the appraiser looks at residential, multifamily, or commercial properties?
    2. What role do real estate agents and finance companies play in the appraisal process?
    3. How are appraisers trained and ultimately licensed?
    4. How do you choose a "good" appraiser?
    5. Out of the three primary appraisal methods (Comparison Approach, the Income Approach, and the Cost Approach), which ones can be applied to residential, multifamily, and commercial?

      Looking forward to hearing your answers.

      Hi All,

      I am taking a Real Estate class, and I have to interview an appraiser.  Any help would be greatly appreciated if you could answer the following questions.

      1. How do methods differ when the appraiser looks at residential, multifamily, or commercial properties?
      2. What role do real estate agents and finance companies play in the appraisal process?
      3. How are appraisers trained and ultimately licensed?
      4. How do you choose a "good" appraiser?
      5. Out of the three primary appraisal methods (Comparison Approach, the Income Approach, and the Cost Approach), which ones can be applied to residential, multifamily, and commercial?

        Looking forward to hearing your answers.

        Post: Calling all Appraisers!

        Teri PegnataroPosted
        • Posts 9
        • Votes 0

        Hi All,

        I am taking a Real Estate class in college, and I have to interview an appraiser. Any help would be greatly appreciated if you could answer the following questions.

        1. How do methods differ when the appraiser looks at residential, multifamily, or commercial properties?
        2. What role do real estate agents and finance companies play in the appraisal process?
        3. How are appraisers trained and ultimately licensed?
        4. How do you choose a "good" appraiser?
        5. Out of the three primary appraisal methods (Comparison Approach, the Income Approach, and the Cost Approach), which ones can be applied to residential, multifamily, and commercial?

          Looking forward to hearing your answers.

          Quote from @Clayton Silva:

          This is a great place to get these questions answered. I honestly wish I would have taken some real estate courses myself!

          1. Why did you become a real estate investor? --> I did so on accident, I bought a house and didn't want to sell so I handed it to a property manager, it worked out really well and then I got addicted to the idea of buying and holding real estate.
          2. How did you get started in real estate investing? --> bought a primary on a VA loan, rented out the rooms to my buddies, started trying to figure out how to keep it and invest long distance (how I found David Greene's book Long Distance Real Estate Investing) and ultimately found BiggerPockets and I've been hooked ever since!
          3. What is your business model? --> Long Term Rentals near a military base.  I find and fund the deals and then I hand them to a property manager (nothing exciting but it works well for us)
          4. Do you emphasize long-term holding of property or quick-turn buying/selling? --> Have never sold a property, but have just listed our first one for sale so as of now, I am primarily focused on the Long Term and building up equity.  We don't use or live off the cash flow at all, it all gets circled back into the business to buy more rentals.
          5. Do you have a specialty? --> I work full time in lending so I get to see some of the creative ways people finance properties and my specialty is getting a little creative on the finance/negotiations to make the deals better 
          6. What do you look for in a real estate agent? --> someone who is generally busy.  If I can get ahold of my realtor 24/7 it means they don't do enough business (personal opinion).  I want an agent who will get back to me at a reasonable time, but I mostly want a good negotiator who knows the areas I'm investing in, has a rental or two themselves (preferably a portfolio) and is detail focused.
          7. What issues do you run into with real estate agents? --> Take too long to get back to people (busy doesn't mean you blow people off), lack of experience is the biggest one.  A lot of people become realtors for "side income" and I generally recommend avoiding them at all costs.  
          8. What is a big lesson you've learned through your experiences? --> Figure out your criteria and then act quickly and decisively. I have missed a couple amazing deals because I was too slow to make a decision. Stick to a target. I got side tracked on my investing journey with a large luxury STR that I thought would bring great riches and yadda yadda. It went horribly and I will likely never get back into STRs again. I am sticking with my target market and target real estate for the time being.
          9. What tips would you give individuals looking to become real estate investors? --> start.  Doesn't have to be a home run or a primary or anything, just start somewhere.  Partner with a friend who is a flipper and watch the process.  Go to real estate meet ups.  But at some point, buy the first deal, get over the fear and jump in head first.  You can only learn so much but you find out what you don't know faster when you are in it and have to figure things out.  It really is as easy as just buying the first one.
          10. What tips would you give agents working with real estate investors?  --> know your numbers.  Know the ARVs, know the market rent, know the tax assessments and percentages, know the insurance costs (flood zone or not etc.), know the neighborhoods.  And a lot of this comes from buying rentals themselves as the agents.
          11. What do you feel is the best type of real estate investment and why.  --> the best investment (real estate or not) is the one you know and understand.  Some of that comes from doing it, and some from being in the forums and talking to people or listening to podcasts.  Learn all you can without doing, but you can never learn it all without doing it.  Also, this is just general financial advice I learned from "We Study Billionaires" Podcast that has stuck with me.  "Know your sleep number".  If you have too much debt (even good real estate debt) or too risky of stocks, or too much crypto or extreme options contracts that keep you up at night from stress; you've gotten past your sleep number.  Each person is different and is going to be comfortable with varying levels of debt and risk and what not.  Make sure you tailor your investing to what you and your significant other (if applicable) are comfortable with handling.


          Thank you so much Clayton for answering my questions! You are very passionate about what you do, and that is rare. I am halfway through the course ( it’s an elective) but after reading and studying about leases and property management, it has definitely sparked my interest.

          Also, finding this forum is excellent. There is tons of information, and it seems that everyone genuinely wants to help each other. Thank you again, and good luck with all your investments!

          Thanks, Bryce! Question, you talk about selecting and screening renters. Aren’t there companies out there that can screen people for you? If so, have you used one?

          Thank you so much Clayton for answering my questions! You are very passionate about what you do, and that is rare. I am halfway through the course ( it’s an elective) but after reading and studying about leases and property management, it has definitely sparked my interest.

          Also, finding this forum is excellent. There is tons of information, and it seems that everyone genuinely wants to help each other. Thank you again, and good luck with all your investments!

          Hi All,

          I need your help, I am taking a Real Estate Class and have to interview a Real Estate Investor and if you have the time to answer these questions, I would greatly appreciate it.

          1. Why did you become a real estate investor?
          2. How did you get started in real estate investing?
          3. What is your business model?
          4. Do you emphasize long-term holding of property or quick-turn buying/selling?
          5. Do you have a specialty?
          6. What do you look for in a real estate agent?
          7. What issues do you run into with real estate agents?
          8. What is a big lesson you've learned through your experiences?
          9. What tips would you give individuals looking to become real estate investors?
          10. What tips would you give agents working with real estate investors?
          11. What do you feel is the best type of real estate investment and why.

          Looking forward to hearing your answers!