All Forum Posts by: Glenn Gayet

@Marty True Thanks for the response! 

By setting myself up for success, I mean choosing a market that has the right opportunity. This would include: 

* The attractiveness of the properties available 

* Does Vegas being a transient city raise concerns for multi-family investors? Or is it actually an advantage because it means more of the residents are renters? 

* What concerns do investors have regarding a service industry economy that may suffer during economic downturns? What effects have bad economic times had in the past on the rental/multi-family vacancy rates in Vegas? If there has been any affect has it only been certain neighborhoods or rent price ranges, ect.? 

* What is unique to the Vegas market that makes multi-family investing better or more risky for investors and how does this affect how a commercial real estate agent goes about selling/locating properties/choosing a market? 

I'm thinking Vegas over Tampa because I have more friends out west, it's affordable, no state tax (Florida too), and it may seem like somewhat of an oxymoron when choosing Vegas as a city but I'm not all too much into drinking and going out anymore and Vegas provides close access to other types of fun like the Red Rocks, nearby Lake Tahoe, Beaches in Cali less than five hours, Canyons in Utah and Arizona, ect. 

Phoenix seems too spread out and Cali is out of my price range at the moment. 

Tampa seems like it just has good weather and the beach. Seems like it would get old. There is more to explore out west. 

Plus, I played hockey and Vegas has the Vegas Golden Knights, so that's a bonus. 

I’m looking to move to either Tampa or Vegas to work in commercial real estate (brokerage) and I’m leaning towards Vegas. The plan would be to wait tables nights and weekends and do commercial real estate during the day. I’m wondering if there’s anything I should be aware of in regards to how I’d be setting myself up to succeed by choosing Vegas as a market. Thank you! 

@Matthew Baltzell thanks for the response Matt. I’ll be moving to Denver in October. I am just spending the remaining months in NJ stacking the cash and my plan would be to wait tables nights and weekends and do commercial real estate during the day. One thing I do plan on doing is mapping out the rents across the Denver and Boulder areas to context the markets. Grant Cardone has also said you need to know basically every block. So I might as well start now. I’ll be moving with my friend from Chicago and I played hockey with a few friends from the Denver / Boulder areas as well. 

To be honest and this might be silly, but my only real concern is that since the Server minimum wage in Colorado is over $7 that it might be a little harder to get a server job there than in NJ. I mean what other job can you work nights and weekends and pair with CRE? Basically not any other job, really.

I am looking to get into either commercial real estate or commercial real estate financing / mortgages. What I like about commercial real estate is that it appears to be more of an overall learning experience rather than mostly financial as with CRE financing. In CRE I see myself more as a hunter finding properties for investors, almost as if I am an investor myself. One of the reasons I am considering CRE financing is because it seems that CRE is largely listings based, meaning, it seems like most brokers want agents to focus on listings, and like I said, it is much more natural for me to be a buyers agent. I'd be beginning in the Denver / Boulder market. Any input on what to expect in each field would be appreciated. Thank you!

Thanks @Anthony Dooley I am keeping an open mind to various options whether it be commercial or selling properties to rehabbers. I will be moving with a friend from Chicago so the roommate situation is already fixed. I’ve worked in a couple sales positions before but when I realized being a waiter is one of the few positions where the hours can be nights and weekends I got a job as a waiter here in NJ so that should make it easier to find a similar job in CO. My plan would be to AirBNB for about 2 months and then find a place. 

I actually am not referring to wholesaling. There are tons of realtors that work with investors. Assignment of contract does not remove you of liability. You can do nearly the same thing as a realtor especially if you operate as a transactional broker. 

@Joel Owens  Thanks for the response Joel. For some reason I missed a notification and just saw your response now. Another thing I am considering is selling properties to rehabbers. I'd eventually want to be a full time investor and the entire purpose of commercial real estate (in relation to my goals) is to learn investing. Thus, it might make more sense to sell properties to rehabbers, learn a bit about rehabbing, and use the money from those endeavors to put into multi-family properties. I mean, being in commercial real estate is not the only way to learn multi-family investing. There are a lot of people that have learned from shopping properties. I think that actually might be the better way to go. 

@Alina Trigub Well, the frequency of transactions, especially in the commercial sector, is what would make me have a 2nd job at least at first. 

Hello, 

I will be moving to Denver from NJ come October and will be looking to work in either commercial real estate or for a real estate investment firm. What I've had in mind, is to wait tables nights and weekends and do commercial real estate 9-5. I know that's a grind but it's a price I'm willing to pay. I've just started researching the real estate market in Denver today actually and my goal is to have the greater Denver / Boulder area mapped out as far as neighborhoods/rents/market conditions before I turn the key in the ignition to head out west. Any suggestions as to where to look in regards to brokerage / investment firms would be appreciated, and well as any other real estate related info in general or on the markets. I'd like to be an investor/developer in the future and CRE seems like a great place to learn while you earn. Thanks! :)

I am on the east coast right now but am looking to move to either Vegas or Phoenix come the beginning of October. I am looking to work in commercial real estate focused on multi-family or with a real estate investment firm. I am looking to put myself in the best position to succeed. It seems like Phoenix is growing rapidly and that they are building down there and it won't be anytime too soon that the supply will meet the demand. As for Vegas it has been highly ranked for multi-family transaction volume. Something that needs to be taken into consideration is the the amount of agents in proportion to the amount of work. 10X more transaction volume with 20x more agents is not as good as 5x more transaction volume with 5x more agents, all in proportion. Was wondering if anyone had any insight on this. Thanks!