All Forum Posts by: Jason Bourne

My journey of trying to start a successful business started 3 years ago when I had no clue as to what types of business opportunities existed. I've gone through trying and failing many times, but I also have experience being a general manager at 2 commercial real estate properties for several years, until I left to an acquisitions firm that Id rather not even mention on a resume.

I have been around the disruptive startup scene (did a tech startup that failed early), and I have experience in managing commercial properties. Now the picture is clear for me and I want to start a commercial brokerage either as an independent or have a small team of sales agents. I don't mind working as an associate broker to get training at a brokerage firm, but the question is how do I go about this. 

I have updated my resume, and it shows that although I don't have a college degree finished, I believe I have developed human capital more than other 24/25 year olds coming out of college, even have done successful strategic partnerships as a manager of one of the properties. 

Now here is the interesting part. My parents have a small track of land, that is adjacent to another track of vacant land. The owner has been trying to contact them, but my parents are too busy to really care since they full with work. They want to transfer the land property to my name, and are allowing me to sell or develop it. How can I leverage this situation to get into commercial real estate brokerage? It has utilities and no restrictions. I was thinking about trying to do a joint venture with the interested party, in a deal where I would not have to put down any financing. 

Thanks for all the replies. 

Haha, not Matt Damon :) 

Okay, I will check out the book, thanks for that. 

Any brokers out here with some practical advice for us? I do intend to start building a contact base as well.

I did some research and I found that a lot of threads here are in regards to buying and investing commercial property. However, I want to know more about the operations of an elite broker.

A relative has given me the opportunity to manage, sell, and buy assets. Almost all of them are commercial properties and a significant amount of them are land properties.

I have a short but somewhat successful background in b2b sales, so I do have an idea of how complex sales go, but I need help in training to become proficient at commercial property.

Some things I need help in regards to are crafting a value proposition-- how to define the selling points of a piece of property?

How to do market research? What is/are the prime sources, like a report, that can give me the overview of a market in specifics?

How to know who the most optimal buyers would be for a certain property? My guess is experience will tell me, but if anyone has any hints, it would help.

Sorry guys, I should've mentioned that we are reducing expenses, and my parents are starting jobs, even if they are min wage. My dad was talking to some engineering recruiters and they said he's been out of the industry too long for it to be possible to come back.

My point of this thread was to introduce myself, get my approach to the situation validated (at the very least start the education here), and get some ideas. 

One of the purposes of joining here was to PREPARE. 

I am prepared for the worst case scenario, as are my parents. Now we want to prepare for other options.

Lets say my parents both find full time jobs for minimum wage to counter the expenses (after reduction), Lets say I get funded, and my side hustle picks up, etc. 

For every situation, I want to have a ready, go to, move that's been calculated and well thought out in advance. That's all. 

Thanks!

Hello everyone, I am new here, Obviously :-) 

I don't want to get into extreme detail on how I am in my situation, but I will give you everything you need to know. I am a founding team member of an enterprise software tech startup, and we are currently in process of creating our Minimal Viable Product (MVP). I am in the process of hiring a marketer  from O-Desk or Upwork, for a side hustle to generate "passive income". I do not have any money, I flunked college, basically dropped out afterwards because I do not want to be a burden to my parents. I am 23 years old. 

My parents situation is this: Due to circumstances, they do not have ANY income at the moment. They have 150k total saved up. Annual expenses are about 60k. So, this time next year they will have about 90k left. 

My dad can invest any amount to where we still have 25k left at this moment, IF the investment brings IMMEDIATE returns. 

For a DEFINITE return in the LONG TERM, he can invest up to 75k. 

I do not want my parents to get evicted, I will pour all the money I make from my side hustle to help my parents out, and when my software startup gets funded, I will probably take the minimal salary, but from that salary it will go to help out my parents and pay bills. 

What I am doing right now is reading EVERY SINGLE STICKY on this discussion board, and getting my dad to do the same. I want to have a precise strategy for the 2 scenarios I mentioned above in the bold. My parents get heckled by relatives to do this and that, and take big risky investments, which have backfired for them. 

This time I want to be SCIENTIFIC in approach. 

We are willing to take risks, but they have to be calculated, and implement a process where we can make further calculated risks from what the previous process showed in results. 

In the startup process, we call this the "BUILD MEASURE LEARN FEEDBACK LOOP"

For example, we make a decision to add a feature, then we do split tests, measure the results, and then make a decision based off those results.

What I am saying is, I am willing to learn to do due diligence, do precise analysis etc, but I am just absolutely tired of shooting in the dark (or at least watching my dad shoot in the dark). He is also fed up with it, he isn't partnering up with reckless relatives who have pressured him to do risky decisions with absolutely no logic.  

What I am asking is, now that you know the situation, I am not asking to be spoon fed. 

Am I doing the right thing by coming here to learn from the stickies and other resources? 

With my parents situation laid out, is it appropriate for them to dive into learning about real estate or should they find another hustle?