Real Estate Agent · Charlotte, NC · Member since 2019 · 23 posts · 7 votes
I’m looking to make both a career change and an investment strategy change. Currently I own several duplexes and have dealt mostly in smaller multifamily.
I want my future investing to focus on larger apartment buildings and mobile home parks. Until my apartment investing can financially support me full time, I am considering 2 career options:
1. Getting into the property management space to better fully understand the management of these larger assets OR
2. Selling commercial real estate with a focus on these types of assets
Which of these 2 do you think would best align with my ultimate goal?
@Logan Hartle Both will align with your ultimate goal to an extent. The bigger question is how long can you afford to live without making real money for?
Being in property management likely won't be as lucrative, but it'll provide stability. There's big money in selling commercial real estate, but the big money isn't at the beginning of the journey. You'll likely start as the low man on the totem pole, which means that you'll be getting paid accordingly. It typically takes years to really establish yourself in the commercial real estate brokerage business, so you'll have be comfortable with that if you choose that route.
If money is no object, both will provide good learning experiences. The management side will give you a better understanding of how to properly manage larger assets, while the brokerage side will help put you in touch with lots of valuable connections and also give you somewhat of an understanding of how these larger assets function.
I’m looking to make both a career change and an investment strategy change. Currently I own several duplexes and have dealt mostly in smaller multifamily.
I want my future investing to focus on larger apartment buildings and mobile home parks. Until my apartment investing can financially support me full time, I am considering 2 career options:
1. Getting into the property management space to better fully understand the management of these larger assets OR
2. Selling commercial real estate with a focus on these types of assets
Which of these 2 do you think would best align with my ultimate goal?
Thanks in advance!
Go with commercial brokerage vs PM. You’ll make way more money and the skills will translate way better for your goal of being an investor and owner of larger assets. You will be learning and using The high dollar skills are finding deals, raising capital, financing, creating a network of owners and investors and leading a team not managing the property. That’s important and You need to know that side of it but you don’t need to work as one to know how to manage the managers.