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- Mar 15, 2018
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I only know real estate. Nothing else I say on this forum has any real credibility.
As a field, it’s so broad that you must narrow it to something…
Realtors are in real estate and it is NOT fastlane. Yet they are “CEO’s” of their own entity, while also being one person company.
CRE brokers are similar, but just do bigger deals. Selling $1bl portfolio makes a great commission, yet few make it to that league.
Then there are marketing firms, architects, contractors etc. everyone technically in real estate.
Then there are bankers, who specialize only in real estate. Same there.
It gets worse!
Housing, office buildings, industrial, retail are your major food groups. Then there are sub groups: cold storage, hotels, student housing, self storage, parking …
To be good, specialize.
The list is so long, I honestly can’t imagine completing it. So I’ll stop.
Step 1: research and study.
I know, theory is boring. But “finding a property” when you could have created a business… is that your dream?
How you own real estate later is yet another question. You mentioned syndication… sure, but to attract capital you’d need to demonstrate your ability to add value (yield) to that capital.
Again, starts with theory.
And guess what… textbook isn’t a bad idea. There are many… look up ULI and their bookstore. Or just google.
Oh and a “read this 2 page course to make it big in RE” by the latest internet guru won’t cut it. Avoid those like plague. That’s why I said - TEXTBOOK.
Then consider getting a job at a firm doing what you may want to be doing. It’s one stone two birds. You make money and learn.
Unpopular opinion for some on this forum - 10 years is what it’ll take to become fastlane. But if you do it right, it’s all but guaranteed to succeed.
Good luck.
As a field, it’s so broad that you must narrow it to something…
Realtors are in real estate and it is NOT fastlane. Yet they are “CEO’s” of their own entity, while also being one person company.
CRE brokers are similar, but just do bigger deals. Selling $1bl portfolio makes a great commission, yet few make it to that league.
Then there are marketing firms, architects, contractors etc. everyone technically in real estate.
Then there are bankers, who specialize only in real estate. Same there.
It gets worse!
Housing, office buildings, industrial, retail are your major food groups. Then there are sub groups: cold storage, hotels, student housing, self storage, parking …
To be good, specialize.
The list is so long, I honestly can’t imagine completing it. So I’ll stop.
Step 1: research and study.
I know, theory is boring. But “finding a property” when you could have created a business… is that your dream?
How you own real estate later is yet another question. You mentioned syndication… sure, but to attract capital you’d need to demonstrate your ability to add value (yield) to that capital.
Again, starts with theory.
And guess what… textbook isn’t a bad idea. There are many… look up ULI and their bookstore. Or just google.
Oh and a “read this 2 page course to make it big in RE” by the latest internet guru won’t cut it. Avoid those like plague. That’s why I said - TEXTBOOK.
Then consider getting a job at a firm doing what you may want to be doing. It’s one stone two birds. You make money and learn.
Unpopular opinion for some on this forum - 10 years is what it’ll take to become fastlane. But if you do it right, it’s all but guaranteed to succeed.
Good luck.
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