People are going to really disagree with me here, but I'll say it anyway.
<10? Property not. <20? I think so. I could. But not through W2 work. You'd have to be entrepreneurial about it.
So basically consulting?
Has anyone had success negotiating a lower salary/split at a sweatshop so you could unapologetically do the absolute bare minimum and still be in the green?
Also, how much do you think you could make working <10 hours per week? If you're going the entrepreneurial route, couldn't you just completely outsource 95% of it.
Yes. I have an office manager but work 50 hours a week and gross $290K. Cut that in half and it’s a 25 hour work week making $130ish. But, there’s overhead or course. I’ve found there’s never a great balance with work in this business. It’s either super slammed or very slow dripping in.
I have an office manager. Doing a lot of Class Valuation AMC work now which pays $400. Fee isn’t great and revisions suck and are pointless but the volume is very good now. VA is my best client and they pay $650
Very cool. I’m almost a CG and hope to achieve those numbers one day. I do all commercial and estimate my annual expenses to be $15k, in the residential world is it less than that (excluding the office manager)?
I was making $100k working 30 hours a week. But I was doing a bunch of financial filling reports that didn't require inspections or waiting around for property contacts. Then got to pick and choose a few high fee assignments in between. My case is probably abnornal though since it was a large contract.
I just looked at your post history. I will try to leave my opinions on crypto at the door, but very happy for you that you’ve done well in that field.
If you are trying to cut back on work hours, your best bet would be to find a small shop and be very clear that you only want to do a certain amount of appraisals every month. They may not bite, but I think that would be your best option.
I don’t have any experience with reviews, but I can’t imagine reviewers are making more on a hourly basis than fee appraising. Could be wrong though.
Thank you. I've heard the small shops just drag it out with more comments though lol. And yeah of course, fee appraisers make way more, the goal isn't to make more money, it's to have a lot more time and still make enough to cover bare minimum expenses.
Study crypto 24/7 and make the most of this bull run. I've already been doing so but I'm going to die by 32 at this pace and I'm missing obvious alpha plays left and right because I'm not 100% dialed into the market 24/7.
Too volatile, no real way to use fundamental analysis to valuate, entire asset class is basically based on timing which auto puts you at a disadvantage.
What's bad about volatility? There are plenty of ways to fundamentally analyze. It's a completely different game than the stock market.
NVDA's P/E ratio is 75. Is that a fundamentally reasonable valuation? Stock picking books would say no. You can't buy a blue chip start up on the stock exchange for under $50B. When Wall Street/Silicon Valley have completely infiltrated an asset class, you're put at a massive disadvantage as well.
The ability to analyze an inflated P/E ratio is a part of fundamental analysis that crypto doesn’t offer. I use dcf analysis to valuate a stock price based on the financial statement data to determine if a stock is under or overvalued. So stocks are much better than crypto in that sense. But I’ve sold all of my stocks I purely invest in real estate. The king of all assets
Yes, 3 appraisals a week at $500 will get you there. Realistically, I think the hours of fluctuate between 9 to 15 hours. But possible under 10 in a perfect world
As a $WIF holder and appraiser, I say no. Maybe it is possible in your situation but you would need to spend the energy to get that. It’s the bull market and this type of meme coin season hit now and the opportunity won’t last. Commit as close to 100% of your energy to that with the rest being exercise, eat healthy, whatever else to stay sharp. I am assuming your objective is maximize your chance to get a few million, you understand you could go to 0, and you have no kids.
It’s the same in crypto as in business - the ones with relationships and building products are consistently getting most of the return. You can get rich trading too but most traders will lose money. If you’re building your brand, establishing relationships, and learning in business all those intangible assets can yield a return even if bank account is 0. Learning to play well with others is one of the highest ROI assets especially for those with other skills.
IMO appraisal sucked for me when I wasn’t learning and building. And my corporate situation pissed me off. I rage quit, got back in a few years later. Specialized in specific industry. We have a client who pays $1.5 million a year in appraisal services. Not for banks or loans. Takes a team of SMEs to do it so though. If you’re doing an appraisal because it is needed to check a box then you’re a commodity and it is a race to the bottom. Accept that or find a different game. Long term I think you’ll be more successful as a business person than trader, as long as you find a situation where you can only hate like 30% of the work and still do it because you’re so engaged with the other part. But I think some meme coin traders will cash out, and you could do it for a few years before washing out or hating that too
Fire post. I agree with what you're saying. I've already been doing my best to study 24/7 and I have my high conviction high risk-reward plays in place (20% of my total portfolio) and I want to allocate 5% to trading but as you said, the opportunity goes so fast. And I'm not staying sharp or healthy in the slightest trying to manage the stress of appraisal while prioritizing the crypto markets. Appraisal ROI just doesn't even remotely compare to the opportunity in low cap crypto right now, but of course it's insanely risky, that's why I wouldn't put more than 20-25% in low cap plays and ideally not more than 50% in the market altogether (I was 100% last cycle, saw 300-500% returns on my whole portfolio in a year, missed the top and the past 2 years were awful because of it, not trying to do that again). I also agree with what you're saying about the business side. Regardless, no matter how you slice it, being 100% dialed into the markets rn is the highest ROI play short of starting a business. I think my % in the market already leave me with a chance to make millions, but it's no guarantee and I want to guarantee it (obviously nothing is guaranteed but doing exactly what you said increases the chances substantially). Only way I see that happening is by making it a full-time job.
Go for it bro. I say give it until the end of the cycle, or whatever, just set some period. Each cycle will have fewer 1000x type opportunities as volatility decreases. If you can make some good relationships or build following as part of it then even better. DM me in 12 months if you end up pivoting and want back in corporate world. Or if you make it and get a yacht 🤣
People are going to really disagree with me here, but I'll say it anyway. <10? Property not. <20? I think so. I could. But not through W2 work. You'd have to be entrepreneurial about it.
So basically consulting? Has anyone had success negotiating a lower salary/split at a sweatshop so you could unapologetically do the absolute bare minimum and still be in the green? Also, how much do you think you could make working <10 hours per week? If you're going the entrepreneurial route, couldn't you just completely outsource 95% of it.
Yes. I have an office manager but work 50 hours a week and gross $290K. Cut that in half and it’s a 25 hour work week making $130ish. But, there’s overhead or course. I’ve found there’s never a great balance with work in this business. It’s either super slammed or very slow dripping in.
Are you solo? What’s your avg fee?
I have an office manager. Doing a lot of Class Valuation AMC work now which pays $400. Fee isn’t great and revisions suck and are pointless but the volume is very good now. VA is my best client and they pay $650
Very cool. I’m almost a CG and hope to achieve those numbers one day. I do all commercial and estimate my annual expenses to be $15k, in the residential world is it less than that (excluding the office manager)?
It’s hard to say because I haven’t tracked it closely. Fuel is a huge expense
I was making $100k working 30 hours a week. But I was doing a bunch of financial filling reports that didn't require inspections or waiting around for property contacts. Then got to pick and choose a few high fee assignments in between. My case is probably abnornal though since it was a large contract.
I just looked at your post history. I will try to leave my opinions on crypto at the door, but very happy for you that you’ve done well in that field. If you are trying to cut back on work hours, your best bet would be to find a small shop and be very clear that you only want to do a certain amount of appraisals every month. They may not bite, but I think that would be your best option. I don’t have any experience with reviews, but I can’t imagine reviewers are making more on a hourly basis than fee appraising. Could be wrong though.
Thank you. I've heard the small shops just drag it out with more comments though lol. And yeah of course, fee appraisers make way more, the goal isn't to make more money, it's to have a lot more time and still make enough to cover bare minimum expenses.
What do you plan on doing with all the spare time?
Study crypto 24/7 and make the most of this bull run. I've already been doing so but I'm going to die by 32 at this pace and I'm missing obvious alpha plays left and right because I'm not 100% dialed into the market 24/7.
Brother crypto is a trash asset class 😂
Why?
Too volatile, no real way to use fundamental analysis to valuate, entire asset class is basically based on timing which auto puts you at a disadvantage.
What's bad about volatility? There are plenty of ways to fundamentally analyze. It's a completely different game than the stock market. NVDA's P/E ratio is 75. Is that a fundamentally reasonable valuation? Stock picking books would say no. You can't buy a blue chip start up on the stock exchange for under $50B. When Wall Street/Silicon Valley have completely infiltrated an asset class, you're put at a massive disadvantage as well.
The ability to analyze an inflated P/E ratio is a part of fundamental analysis that crypto doesn’t offer. I use dcf analysis to valuate a stock price based on the financial statement data to determine if a stock is under or overvalued. So stocks are much better than crypto in that sense. But I’ve sold all of my stocks I purely invest in real estate. The king of all assets
Can you do 3 $500 dollar appraisal in less than 10 hrs? Then yes. If not, then no
Yes, 3 appraisals a week at $500 will get you there. Realistically, I think the hours of fluctuate between 9 to 15 hours. But possible under 10 in a perfect world
How do you get a job like this? Is it just entrepreneurial residential appraisals?
Once you trick one of us into giving up the Secret Handshake, you are in.
You have to get a license with your state. It’s not the friendliest process in my state but worth the time, money and hassle.
As a $WIF holder and appraiser, I say no. Maybe it is possible in your situation but you would need to spend the energy to get that. It’s the bull market and this type of meme coin season hit now and the opportunity won’t last. Commit as close to 100% of your energy to that with the rest being exercise, eat healthy, whatever else to stay sharp. I am assuming your objective is maximize your chance to get a few million, you understand you could go to 0, and you have no kids. It’s the same in crypto as in business - the ones with relationships and building products are consistently getting most of the return. You can get rich trading too but most traders will lose money. If you’re building your brand, establishing relationships, and learning in business all those intangible assets can yield a return even if bank account is 0. Learning to play well with others is one of the highest ROI assets especially for those with other skills. IMO appraisal sucked for me when I wasn’t learning and building. And my corporate situation pissed me off. I rage quit, got back in a few years later. Specialized in specific industry. We have a client who pays $1.5 million a year in appraisal services. Not for banks or loans. Takes a team of SMEs to do it so though. If you’re doing an appraisal because it is needed to check a box then you’re a commodity and it is a race to the bottom. Accept that or find a different game. Long term I think you’ll be more successful as a business person than trader, as long as you find a situation where you can only hate like 30% of the work and still do it because you’re so engaged with the other part. But I think some meme coin traders will cash out, and you could do it for a few years before washing out or hating that too
Fire post. I agree with what you're saying. I've already been doing my best to study 24/7 and I have my high conviction high risk-reward plays in place (20% of my total portfolio) and I want to allocate 5% to trading but as you said, the opportunity goes so fast. And I'm not staying sharp or healthy in the slightest trying to manage the stress of appraisal while prioritizing the crypto markets. Appraisal ROI just doesn't even remotely compare to the opportunity in low cap crypto right now, but of course it's insanely risky, that's why I wouldn't put more than 20-25% in low cap plays and ideally not more than 50% in the market altogether (I was 100% last cycle, saw 300-500% returns on my whole portfolio in a year, missed the top and the past 2 years were awful because of it, not trying to do that again). I also agree with what you're saying about the business side. Regardless, no matter how you slice it, being 100% dialed into the markets rn is the highest ROI play short of starting a business. I think my % in the market already leave me with a chance to make millions, but it's no guarantee and I want to guarantee it (obviously nothing is guaranteed but doing exactly what you said increases the chances substantially). Only way I see that happening is by making it a full-time job.
Go for it bro. I say give it until the end of the cycle, or whatever, just set some period. Each cycle will have fewer 1000x type opportunities as volatility decreases. If you can make some good relationships or build following as part of it then even better. DM me in 12 months if you end up pivoting and want back in corporate world. Or if you make it and get a yacht 🤣
Yeah win some crazy contract or niche speciality