JaceTheAce
Well-Known Member
You have quite a few options to make additional money as you're living on Top Ramen as a flight instructor/flight student (actually, I manage to slip in a few nice steaks here and there!)
I am currently working on my residential real estate appraisal license. I've worked for an appraisal company for the past 5 years and have seen the in's and out's of this line of profession. Let me tell you that I've met quite a few appraisers who are also pilots - seems to be a good match. Real estate appraisers work on their own hours and set their own appointments. This is a big advantage if you are also working as a flight instructor or even airline pilot. Since you often work out of your own home and don't need a secretary to answer phones (cell phone works) and all deliver of documents to and from the lender is done electronically, you won't have very much overhead to operate an appraisal business on the side. You typically make $175-450 per appraisal (depending on the property and appraisal form) - this can bring you in at least a good extra $20,000 per year working on the side, or over $100k working full-time as an appraiser.
Since the average appraiser's age is 54 years old, this is a perfect time to get into it......EXCEPT for people in California. Some areas in Cali are so saturated with appraisers that it's hard to stay competetive.
The downside to becoming an appraiser is you have to work as a trainee/apprentice for 1/3rd fee split (sometimes they're more, sometimes they're less). You must rack up 2,000 hours before you can take the state license exam. Becoming fully licensed will allow you to appraise properties on your own valued up to 1 million... that's when you're return on investment comes in... it is hard work to become an appraiser, so don't think it's as easy as becoming a realtor!
I am currently working on my residential real estate appraisal license. I've worked for an appraisal company for the past 5 years and have seen the in's and out's of this line of profession. Let me tell you that I've met quite a few appraisers who are also pilots - seems to be a good match. Real estate appraisers work on their own hours and set their own appointments. This is a big advantage if you are also working as a flight instructor or even airline pilot. Since you often work out of your own home and don't need a secretary to answer phones (cell phone works) and all deliver of documents to and from the lender is done electronically, you won't have very much overhead to operate an appraisal business on the side. You typically make $175-450 per appraisal (depending on the property and appraisal form) - this can bring you in at least a good extra $20,000 per year working on the side, or over $100k working full-time as an appraiser.
Since the average appraiser's age is 54 years old, this is a perfect time to get into it......EXCEPT for people in California. Some areas in Cali are so saturated with appraisers that it's hard to stay competetive.
The downside to becoming an appraiser is you have to work as a trainee/apprentice for 1/3rd fee split (sometimes they're more, sometimes they're less). You must rack up 2,000 hours before you can take the state license exam. Becoming fully licensed will allow you to appraise properties on your own valued up to 1 million... that's when you're return on investment comes in... it is hard work to become an appraiser, so don't think it's as easy as becoming a realtor!
