When and How Did You Start Your Business? - Career Advice

[Andre Jernigan]

The other day after work I got to my car and started checking my phone to respond to emails, check BiggerPockets and LinkedIn. After a while I realized that I had been sitting in my car responding to those in the real estate business for an hour as I sat in my current employer's parking lot. I have always had an interest in real estate and finance so after graduating with a bachelor degree in Finance it was only natural for me to be even more intrigued with all that real estate has to offer. However I also loved the game of baseball and after playing 4 years of division 1 baseball at Xavier University, I was fortunate enough to have been drafted by the Minnesota Twins and played a little bit or professional baseball. This childhood dream of mine unfortunately came to an abrupt end a few years in but nonetheless was an experience of a lifetime. Fast forward about 2 years, I am working a job that doesn't necessarily interest me and I stumbled across real estate investing as I was looking for ways to start building passive income for the future. Over the past few months I have come to a realization that my passion for real estate has continued to grow to the point where I know that it's now my goal to invest in large multifamily properties and build a syndication business down the road. I understand in order to get to the freedom that I desire in life it will take time, planning, and 100% dedication along the way; all of which including sacrifices that I will gladly make. I personally would much rather have the opportunity to control my own career/life and actually do something that can positively impact others whether it be providing someone a place to live, helping like-minded individuals reach the level of freedom they desire, or introducing curious individuals to an investment vehicle with the potential change their lives.

I have taken these past few months to continue to educate myself on all matters of real estate, mindset, and entrepreneurship as well, as I know the importance of establishing a strong mindset base in order to be successful in business endeavors. In my opinion momentum is everything when looking to attack goals, therefore the law of the first deal certainly comes to mind. A few months back I got in contact with a mentor and have since been learning the business from his perspective in his own company. Moreover he has allowed me to help in the search for both apartment and hotel deals to bring to him as he is looking to expand his portfolio. With that being said I've gained some experience conservatively underwriting potential deals as well as learning different methods of what to look for in properties that may indicate a potential deal. Up to this point I have seriously enjoyed every step of this process and the business as a whole. If anything the past few months have solidified my desire to eventually start my own business a few years down the road.

A long story kept somewhat still long, I am at a crossroad with respect to what my next steps should be. I've started taking my licensing classes with the original idea of being an agent on the side due to the fact that my current hours allows me to be off around 3:00 PM. However as I have continued to read and think about it, I have also started entertaining the idea of looking for a local commercial investment company or local development companies to learn more about the real estate industry as a whole. 

The question that keeps coming to mind is which is more important: searching for a new corporate job while starting to build a business, pursue a career with a commercial brokerage, or building a syndication business on the side while dealing with a job with little upward mobility that you don’t necessarily enjoy right now? I suppose a better question would be, if you could go back in time knowing what you do now, what would you do differently to set yourself up?

I look forward to speaking with you all and want to thank you in advance for the advice and conversation!