Rental Property Investor · St. Louis, MO · Member since 2019 · 9 posts · 3 votes
Hi All,
In an effort to not just “introduce myself”, I would like to hear from others that have dipped their toes (or plunged head first) into both commercial and residential real estate.
By trade, I am a commercial leasing broker. I got my start as a commercial property manager in Chicago then got my brokers license and closed $14.6M in lease transactions, mostly medical office leases, in my first 15 months. I just got married, moved to Denver, and am re-launching a leasing brokerage division at a management & investment company - Dunton Commercial. My plan is to pay off 100% of our school loans ASAP, then start purchasing our first few rentals.
Enough about me. Anyone else out there taken a similar route of working in commercial real estate (or other related, feast-or-famine commission jobs) while investing in residential? Any tips for a young guy like me in either building up a brokerage business or personal RE investing?
In an effort to not just “introduce myself”, I would like to hear from others that have dipped their toes (or plunged head first) into both commercial and residential real estate.
By trade, I am a commercial leasing broker. I got my start as a commercial property manager in Chicago then got my brokers license and closed $14.6M in lease transactions, mostly medical office leases, in my first 15 months. I just got married, moved to Denver, and am re-launching a leasing brokerage division at a management & investment company - Dunton Commercial. My plan is to pay off 100% of our school loans ASAP, then start purchasing our first few rentals.
Enough about me. Anyone else out there taken a similar route of working in commercial real estate (or other related, feast-or-famine commission jobs) while investing in residential? Any tips for a young guy like me in either building up a brokerage business or personal RE investing?
Thanks,
Caleb
You should look at using your money to invest in property that will pay off the loans for you especially if the rates are low on the loans.
Building your business is all about relationships and It’s a contact sport. You need to get known as the expert in your space. Learn your market, your niche and be so valuable everyone will want to do business with you when they hear you or meet you. Once you are up to speed on the market ave your space you need to get out there and meet the right people and provide value to the marketplace.
Attorney · Dallas, TX · Member since 2016 · 5k+ posts · 2k+ votes
6y
A background in commercial leasing is great, but its not going to solve any general questions you have about residential investing. Underwrite a property, determine your own metrics, then using form promulgated contracts (as the norm) to close and risk your own cash. You'll go from big deals, to small dollar, but "big" deal to you since its your cash!
Rental Property Investor · St. Louis, MO · Member since 2019 · 9 posts · 3 votes
6y
@Greg Dickerson Thanks for the notes. I love that you encourage learning the market before jumping out there as the "local expert", but also beginning to build relationships simultaneously. Appreciate you taking the time to give me some advice!
Rental Property Investor · St. Louis, MO · Member since 2019 · 9 posts · 3 votes
6y
@Ronald Rohde That makes sense, thanks for the tips. Hopefully after I've built up some net worth with personal residential deals, then I can reallocate some capital in a few years to buying commercial deals and at that point use significant market knowledge as an advantage. Thank you for sharing your thoughts on my post!