Sarah McNelis – Aviation Real Estate Agent, Pilot, and A&P
MD – We had the pleasure of talking to Sarah McNelis, APN affiliate agent, ahead of the NBAA-BACE conference in Las Vegas, October 17th to 19th. APN will be exhibiting at the show and can be found at booth C10443. She’s based in Maryland and handles aviation properties in the Mid-Atlantic region of the country. Sarah has a unique background in real estate and aviation.
APN: “How long have you been involved in real estate?”
Sarah McNelis: “I started as a real estate investor in my 20s. Once I purchased my first property, I realized I needed to know more about how they were appraised and their value, so I got my appraiser’s license. A few years after I got my appraiser’s license, I received my Realtor’s license, so I’ve been in the real estate business for about 20 years, and I’ve had my real estate license for the last ten years.”
APN: “What aspects of the real estate business have you been involved with throughout your career?”
Sarah McNelis: “I’ve been involved with many different aspects of the real estate business since I entered the field. As I said before, I started as an investor and bought my first investment property in my 20s. I learned a lot with that property and made quite a few mistakes. That’s what prompted me to get my real estate appraiser’s license. The appraiser’s license allows me to evaluate a property to determine its value professionally. Of course, we had major problems in 2008 with the housing market and financial institution crash. A lot of that was blamed on the over-valuation of properties, and as a result, the Dodd-Frank Act was passed. This added many rules and regulations, and my appraiser’s license wasn’t as much of a benefit as it was prior. In fact, it was more work and risk than it was reward. At that time, I decided to make a career switch and received my real estate license to become a licensed agent.”
APN: “Do you have any areas of specialization?”
Sarah McNelis: “I really enjoy selling the difficult and unique properties. A lot of the properties in Maryland are not well-developed. A lot of them are grass strips or smaller airports. There aren’t many hangars. These are known as commercial contingencies or things that could be considered negative about the property, making them difficult to sell. So, we have to go out and find buyers for these unique properties. This is where my appraiser’s license still comes in handy. I can walk a property and determine its objective market value. Then, I can list areas where this airport excels. It could be its private location, ability to be expanded, or simply its historical value. Then, to sell that property, I can highlight those positives and explain how this smaller airport could benefit the buyer.”
“In fact, I had a recent property that took about a year to sell. I would say this was one of the most difficult properties I’ve had in my inventory. It was a small grass strip with a lot of history. One of my goals is to get these types of properties into the hands of buyers who will preserve the history while expanding the access, usability, and features of the airport. For that little grass strip, I was looking for a buyer that would see its potential while still honoring its legacy, and after about a year, I did find the right buyer, and we closed the deal.”
APN: “What is your involvement in aviation? Are you a pilot, aviation enthusiast, etc.?“
Sarah McNelis: “I have my commercial, tailwheel, instrument, and single-engine pilot licenses and ratings, and I’m an A&P. In fact, I got my pilot’s license shortly after I bought my first investment property. I used to own a Mooney and hope to own another aircraft someday. I’m also a member of the Harford Flying Club. It’s based in Fallston, Maryland, and promotes aviation safety.”
APN: “How long have you been involved with aviation real estate?”
Sarah McNelis: “I’ve spent the last five years specifically in aviation real estate. In Maryland, the aviation real estate climate is very unique. We have a lot of grass strips and historic airports. This means there’s not a lot of hangar space, and we don’t have many hangar homes here, but the potential is incredible. In fact, the aviation real estate industry here, especially in Pennsylvania, is very strong. We’re seeing a lot of growth in the commercial airports and a lot of expansion.”
APN: “What degrees and certificates do you hold?”
Sarah McNelis: “Well, I actually started off as a history major, so I have a bachelor’s degree in history. That’s probably why I love the smaller, historical runways. I really love the stories behind some of these properties and how they came to be. I also have my A&P license along with being a commercial-rated pilot and a licensed real estate agent.”
To learn more about the properties Sarah has available in Maryland, Pennsylvania, and Virginia, visit Long and Foster Real Estate.