Looking for advice from ex-brokers

[Travis Miller]

I am just now coming out Marcus & Millichap's training program and have been assigned to specialize in brokering apartment buildings in northern Colorado. I joined the firm because I knew I wanted to invest in multifamily, but I knew nothing about the industry and assumed that this job would be the fastest way to learn the in and outs. 

Knowing that it takes about a year to start making money in this industry I saved around $70k for my wife and I to live on while I focused on building my business. 

Living in Denver is expensive, I started blowing through cash faster than I was comfortable with. I was extremely fortunate to find a part time job working 20 hours a week, and surprisingly Im doing well enough that I'll end the year making $100k only working a few hours a week. ($300k if I went full time)

I know that my end goal is not to be the top dog in the brokerage world. In 5 years I want to own 85-100 units and 300+ units in 10 years. 

I am hoping for some veteran advice. What will help me reach my goals the fastest? Continuing to focus on building my business with M&M, building relationships and learning the industry. Or am I better off using what cash I have left in savings and focus on getting into my first multifamily deal as fast as possible? 

[Matt M.]

How do you like that cold calling...

 Part time and clearing $100k??? Potential for $300k??? Um... I'd stick with that one.

Find out what your are blowing your cash on and cut it. Once you have your 6 months personal reserves, start saving for your down payment. Have you spoken to a lender about what you could qualify for?