Career as Commercial Real Estate Broker

[Anthony Salazar]

I'm seriously considering a career change from federal law enforcement to commercial real estate as an agent in Salt Lake City. Any advice or any CRE agents willing to connect?

I understand that the first year (and possibly longer) is tough. I’m prepared financially to weather that storm. Tough decision and want to gather as much information as possible. Thanks!

[Henry Clark]

Don't leave your day job until--------- 

The Storm will be about 3 years for you to make a dent in Commercial. Different than Houses.

Commercial is tougher.  You need relationships.

You have to bring value to the deal.

a.  Go out on Loopnet or Crexi and start studying the offerings in Salt Lake City.  Your market will need to be bigger than Salt Lake City.  That will be a very closed business community.

b.  Develop a value add play for one property per week.  Post on here and ask for input.  Do about 10 of these.  Do cost estimates.

c.  Get the zoning rules

d.  Zoning map

e.  Planned zoning

f.  Learn conditional and Special use process

g.  Start developing a Team.  Names and contacts of:  Zoning board, Inspection department, realtors, owners, contractors, etc.  Don't force this.  As you research projects, keep adding people to these categories.

h.  Look through my post on developing start to finish a Self storage location. Look at our Journeys end and Silver lake subdivision splits.

i.  Salt Lake City specifically.  Take a hard look at Water availability.  With each Bad, how do you make a good thing out of that.

j. You need credibility. What can you pull from your Federal Law Enforcement background, that gives you credibility in CRE? For example:

     1.  School shootings.  Would you rather STOP or PREVENT a school shooting?

      2.  Active shooter training facilities.

      3.  Meth house handling procedures.

      4.  High Crime rental units.

      5.  Sexual offender rental units.

      6.  Neighborhood Gentrification

k.  Make your own deals.  Learn Syndication.

l.  Ask yourself why you want to leave your current position.  Will "IT" come with YOU.

It's a great idea.  Everything above sounds like I am telling you no.  Everything and everyone around you will tell you "NO" or why you are going to fail.  You want to see the hurdles in front of you and realize there is an answer for each thing. You just need to solve.

First deal you do.  Find free housing as part of a deal.