Moving to Denver in October - Looking for CRE Opportunities

[Glenn Gayet]

Hello, 

I will be moving to Denver from NJ come October and will be looking to work in either commercial real estate or for a real estate investment firm. What I've had in mind, is to wait tables nights and weekends and do commercial real estate 9-5. I know that's a grind but it's a price I'm willing to pay. I've just started researching the real estate market in Denver today actually and my goal is to have the greater Denver / Boulder area mapped out as far as neighborhoods/rents/market conditions before I turn the key in the ignition to head out west. Any suggestions as to where to look in regards to brokerage / investment firms would be appreciated, and well as any other real estate related info in general or on the markets. I'd like to be an investor/developer in the future and CRE seems like a great place to learn while you earn. Thanks! :)

[Joel Owens]

Buyers for commercial plan longer in advance. Some contact me 6 to 9 months in advance before doing anything then to find the property when the search starts and close on something can be another 3 to 4 months.

So if you have small reserves to start the second job might make sense or you do property management or tenant lease brokering in between sales for small pops of income. With commercial it is typical to be put on a team of 3 people. Senior director, director, junior director.

Different places call it different names president,vice president,etc. but concept is similar. Typical is 50% to brokerage on commission and then rest is split to 3 team members. So 100k commission 50k to brokerage, then remaining 50k top person gets maybe 24k, middle person 17k, person that is junior maybe 9k.

As a commercial principal broker I get it all because it is my company but I earned my stripes with 15 years in the business. So a junior agent at  a large company as an example has to do 10 deals to my one deal etc.

Once you close some big deals in the six figures then you can go 6 months for example without income and no big deal because you have other deals closing. Some deals just do not close for various reasons no matter how great the broker is.

Nothing is guaranteed in commercial you earn by what you close. The goal is to invest so that you build residual income and do not live DEAL to DEAL.

Good Luck