I’m new to BP but have been an avid real estate student for quite a while now. I’m looking to break into the industry and was hoping to get some insight on my personal situation. I live in West Hollywood and have some solid contacts in the business. I have been going back and forth between being a residential or commercial real estate agent. I have a background in analysis of MF properties but I feel like residential could be more lucrative and faster to reach a solid income due to high home prices in my area. Commercial interests me more but I feel like it’s a tougher path to making a strong income. My goal is to own rentals and get into syndication as well. Thanks for the help!
@Danny Azad Hey Danny, I had a similar crossroads when trying to decide what to do. Many told me to do residential first and if I made money in that then I could go into Commerical. I know others that started the same time as I did that ended up not selling much for about 18 months+. Its a difficult road so just be prepared on how much slowed Commerical moves before you see any income vs single family, you likely have more people (assuming) looking to buy or sell a home or small multi vs someone selling 5+ units or office space. I have done residential and Commerical, but Commerical for me is specific to multi family. I dont usually do land, office, manufacturing etc since its not me wheelhouse, but there are crossovers like multi that you can for sure do especially if you already know how to underwrite them. This isn't advice just a story of my experience, you can do both as you learn this world more. Good luck!!