In the latest episode of the Straight Up Chicago Investor Podcast, listeners are in for a real estate treat as Steve Zidek, a seasoned broker and appraiser with nearly two decades of experience, takes center stage. Steve dives deep into the world of appraisals, unraveling the intricacies of the process and sharing golden nuggets that promise to set investors up for success during their next appraisal.
Steve Zidek kicks off the episode by sharing his journey, detailing how he ventured into the appraising business. Listeners get an inside look at his transition from broker to appraiser, providing context for the wealth of knowledge he brings to the table.
Steve takes a magnifying glass to the appraisal process, breaking it down into digestible insights. From the granular details of adjustments to the nuanced "art" components, he offers a comprehensive overview that demystifies the often intricate world of real estate appraisals.
The episode delves into how income factors into residential appraisals, offering investors a strategic perspective on how their property's financial performance can influence its valuation. Steve's expertise shines as he navigates through the various considerations that go into determining the value of residential properties.
Steve adds a delightful twist to the conversation by sharing a crazy appraisal story, offering a glimpse into the unpredictable and sometimes amusing side of the industry. Throughout the episode, he generously drops golden nuggets that investors can leverage to ensure success in their appraisal endeavors.
Key Takeaways for Success:
Understand the personal journey of Steve Zidek and his transition from broker to appraiser.
Gain insights into the intricacies of the appraisal process, from adjustments to the artistic components.
Explore the role of income factors in residential appraisals and how they impact property valuation.
Enjoy a crazy appraisal story that adds a touch of humor to the real estate world.
Collect valuable golden nuggets to set yourself up for success during your next appraisal.
The Straight Up Chicago Investor Podcast once again delivers a must-listen episode, this time featuring Steve Zidek and his wealth of real estate appraisal wisdom. Whether you're a seasoned investor or just starting in the field, this episode provides a rare opportunity to gain insights from a seasoned professional. Tune in, take notes, and equip yourself with the knowledge needed to navigate the complex landscape of real estate appraisals.
Questions We Answer In this Show:
Q. Tackling Ego Clashes in Real Estate's Power Play
Q. Game-Changing Appraisal Regulations: How They Transformed the Real Estate Lending Industry
Q. Unlocking the Ultimate Power of Multiple Income Streams!
02:45 Housing Provider Tip: Prepare for appraisals to maximize value!
04:05 Intro to our guest, Steve Zidek!
07:36 How did Steve get into appraising?
15:48 Breaking down the appraisal process!
21:33 Quantifying pieces of a property to arrive at a value.
27:53 Contesting appraisals.
36:22 Considering unofficial neighborhood boundaries and expanding criteria when valuing properties.
41:08 Crazy appraisal stories!
43:11 Importance of rents on 2-4 unit property appraisals.
48:00 What is Steve’s competitive advantage?
48:50 One piece of advice for new investors.
49:32 What do you do for fun?
50:01 Good book, podcast, or self-development activity that you would recommend?
51:08 Local Network Recommendation?
Connect with Mark and Tom: StraightUpChicagoInvestor.com
Email the Show: StraightUpChicagoInvestor@gmail.com
Guest Name: Steve Zidek
Guest Company: Keller Williams Inspire Realty
Guest Link: https://www.linkedin.com/in/stevezidek
Other Links for show notes:
Chicago Investor Resources Shared
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