All Forum Posts by: Glenn Gayet

Thank you for the responses

I have ambitions to be an investor in the future and I was wondering if it would be better to work in commercial real estate or to work for an investing firm, kind of like Grant Cardone has a team of people going out and looking for properties. I was also wondering how much difference there would be between a role like this and working in brokerage. As far as brokerage I have more of an interest on the buyers side but it seems like most brokers want you to go for listings. What I’ve found is that following your brain over your heart never works out and I am definitely more passionate about the buyers side / investment side. I’ll be moving to Florida / Cali / somewhere else warm in 7-10 months so I was also wondering what some of the investment firms are in FL and other places.

I’m wondering if there’s a preferred source of news for real estate markets and if anyone recommends reading publications like The Economist, ect. I understand the blatant answer is yes, reading something like the Economist is helpful/a good idea. But compared to how else you could be spending your time, is it? I’ve heard of Inman but I’m wondering about anything else. Thanks.

Hello,

I am new to real estate and looking to get started in rentals as it seems like a good place for beginners to get their feet wet. I have two options when it comes to brokerages as far as rentals.

One is in West New York, NJ. They provide all the listings, you just have to show the apartments. 50/50 commission on rentals where the broker got the listing and and 85/15 on ones where you get the listing. West New York is about a 50 minute drive for me. This seems all good but my concern is that since these are open listings there could be other agents showing the same properties. Not that anything is ever going to be easy, but just because the broker gets the listing doesn’t mean it will be as easy as it may appear.

Another one is in Summit NJ. This one is closer and the earning potential is a little more clear. The broker makes it sound as if doing 2 rentals per week is somethting that can happen at some point in the future. They train you on calling landlords and provide a lot of the leads. The concern I have with this one is that they charge errors and omissions insurance which is over 200/month but they said they make it 100 with the rest drawn from commissions.

I’m having a tough time deciding between the two options. Any help would be appreciated. 

@Marcy Moyer Thanks for getting back. I’m not looking to buy any property yet because I’m still stacking the money. I’d be looking to work in commercial real estate in either San Jose, Phoenix, or Sacramento. A friend of mine may be in San Jose so San Jose is tempting but I’d like to learn more about the real estate market there, particularly multi-family. 

I’m looking to move at some point in the next 8 months or so and cities I have had on my radar are Phoenix, Las Vegas, and San Jose. I’d plan on working in commercial real estate whereever I move. Right now I am doing rentals in NJ. Phoenix seems like a huge sprawl which brings concerns for multi-family investing. Being that it is largely suburban makes me question the longevity of the city with newer generations prefering walkable cities. Las Vegas is growing and has no income tax, but it seems like most of the multi-family are in bad areas and the economy usually takes a bigger hit than most places during recessions. San Jose seems not so good for multi-family but the retail sector in the Bay Area is actually quite good. There is definitely a lack of affordable housing in the Bay Area which does present an opportunity. I’m having a tough time deciding between cities. Las Vegas is at the top right right now. 

@Michael Dang thanks for the response. I will look into the AZ and Nevada forums. 

Thank you so much!

I’ll be moving in approximately 8 months and I am looking into Phoenix and Las Vegas. My plan would be to work in commercial real estate focused on multi-family. I’m trying to gain information about these markets and how it would be to work in each of these markets. Thank you!

Jeremy Kloter Thanks for the reply. Looking like my tagging did not work in the previous post.