Appraisers' Free Forum

I've got a problem that I hope I can get some help with here.

I applied for General Certification in December of last year. After my competency interview, the commissioners decided that they needed to see two appraisals from me on multi-tenant properties which use all three approaches. If anybody has one or more of those assignments, and doesn't mind supervising, I'd like to do the work. I'm hoping for fairly new properties, but I'll take whatever I can get.

In this little rural area of mine, there aren't many multi-tenant properties to start with. And none have sold recently, so I'm having a helluva time finding anybody who has this type of work, and is willing to supervise. The MAI's I know either don't do commercial lending work, or the work they do is so far above my abilities that I'd be useful only as a coffee gofer and/or door stop.

The commissioners want to make sure that I know how to handle multi-tenant commercial property. I flat told them that I'd never done one, and didn't see any need for it in my area.

So if anybody's doing a small strip mall or a 3-4 tenant office complex within a couple hundred miles of Memphis or Nashville, let me know if you want some free help.

Jim, we do small retail strip centers all of the time in north metro Atlanta. Welcome to jump in on one of mine if you wanna come to GA. Or maybe you could find a small center near you, offer the owner a free appraisal if you can use it for credit and peer review, and get or pay a CG to guide you.

Mel, are you willing to do some hand-holding? I've NEVER done a multi-tenant job before.

Sure man, they really aren't that hard. Getting comparable rents, getting people to talk to you about their personal bidniz, is the most difficult part. It's all about the cash flow and how much you can get per month, per SqFt.