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Updated almost 10 years ago on . Most recent reply
24 y/o Agent wants to get into Development
Hi everyone, I've been a "ghost" member for a few years soaking up as much knowledge as I can from the experienced members.
I'm 24 years old and have been a licensed agent for 3 years. I was able to build my network of investors and builders who work with me as I find them the deals off market.
My question: Ultimately I want to be a developer (land/property value in my area and city starts at approx $1M to $4M for a good lot.)
What angle can I pitch the investors I work with to bring me into the deal as an equity partner (NOT a commission) given they are all seasoned and have all the pieces to the puzzle.
I appreciate everyones advice in advance.
Most Popular Reply
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The deal is half the battle so brining that portion is step one. Since you have no development experience and the developers do, there is not much additionally you bring to the table beyond the deal itself unless you bring money to the table. If that is the case, then you are in a position to negotiate some equity terms. If not, find the deals, represent the buyer and ask to be in the planning and development stages to learn.
Another thought, take yr commission earned and kick it back to the developer, getting that commission, pls perhaps some interest or equity on the backend which the provision that you stay as part of the deal to learn the ropes.