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All Forum Posts by: Account Closed

Account Closed has started 3 posts and replied 4 times.

Post: Stress Levels of Property Management

Account ClosedPosted
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Hello All,

Currently, I managed 15 HOA's with roughly 300 units. The position is far from enjoyable.

Are the stress levels of managing HOA's, multifamily, commercial different? Or is it all the same BS?

Thanks

Post: Real Estate Sales, not for me. Options?

Account ClosedPosted
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Originally posted by @Derek Newton:

In considering property management companies, look for developers that manage and lease their own properties. They often require full time analysts in which they pay salary. However, the preferred experience would likely be with a company the syndicates deals. Your finance background would work nicely with such a company as they often rely on creative finance strategies to attract investors, and then collect a promote (management) fee in addition to equity. Although more difficult to find, RE syndicates can often lead to great exposure in finance, development and management. Just remember that many CRE firms are dynamic and offer multiple services. When scouting and interviewing, make sure you discuss what it is you're looking for upfront to decrease your chances of being stuck in the wrong area. Also, if you do decide to become an agent, more and more firms are offering a draw incentive whereby they pay their agents a salary initially (typically in the $30k - $50k range) and recoup their cost through your sales. This is to provide income during the 2-5 years it takes to build clientele. Just make sure you do your homework, ask around, network and you'll be fine. 

You are completely right. My CRE just opened a bookkeeper position that would let me play with quickbooks, yardi, excel, and even possibly analyzing property acquisitions!

Of course now the problem is transitioning to a different department. I have only been working 1 month at my current job :/.

Advice on how to make this transition?

Post: Real Estate Sales, not for me. Options?

Account ClosedPosted
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Hello,

I will make this as short as possible. I am not sure if this is a rant or just me looking for confirmation on my thoughts, but overall just need guidance. Recent graduate with B.S in Finance. I have always taken an interest in real estate in the hopes one day I would manage my own properties.

Started working for a full service real estate firm as a commercial associate (not agent) with dreams of transitioning to agent then making huge commissions. I should have known better. They put me in a cubicle to cold call all day to generate leads. I am slowly realizing that I am not gaining any experience. 

Problems: 

-Not gaining enough experience 

-cold calling all day 

-dreams of huge commission, but that is all they are dreams

-Realization I want to be the other person on the end of the phone call -oh yea 29 hrs/week! with referral bonuses for leads that result in a transaction

I want: 

-Full-time salaried, I don't want to rely on commission 

-Benefits 

-Experience with Yardi, Quickbooks, or Argus. I have dabbled with excel all my life.

Please help me with possible solutions for a career! I have narrowed it down to working for a property management company. I would get Yardi/Quickbooks experience and see how investment companies manage and acquire properties, hopefully. BUT, I have always been interested in real estate finance and how investors analyze deals.

Thank you for reading

Post: Starting out at a Commercial Real Estate Brokerage

Account ClosedPosted
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Hello Everyone,

I am new to the forums, a recent graduate, and just was employed as an assistant in a commercial real estate brokerage. I am excited to work for them because “real estate” is a career I am genuinely interested in. During this time I am required to get my real estate license. I am aware this positions will consist of lots of calling and rejection, but I am hopeful that I will gain enough experience that will allow me to move forward.

First, if anyone has worked in CRE what should I looking to take from this experience? Any material I should study to become more familiar with the work/environment (I have already read some blog post here on the BP forums)? Any other advice or tips?

Second, the position is only part-time! 29 hours Monday through Friday. What are other possible positions that I can work part-time, but still remain in real estate?

Lastly, I am trying to figure out an exit strategy. I know that CRE can be very lucrative, but if this area of RE isn't for me what are other possible areas I could work in? Escrow, Appraisals?

Thank You for reading