All Forum Posts by: Nick LaRocca

Thanks Taylor, that really cleared up a lot! It seems like every deal, firm, etc is really different and you have to find a niche that works for you. Just to recap a little, the essence of a syndicator is someone who raises private capital, typical to be used as the down payment for a property, whether or not a syndicator decides to add more to their plate is up to them.

Ever since I got into real estate I've had a few questions raddling around in my head about syndication that I can't seem to get straight:

1. Are developers syndicators or do they use syndicators to finance the equity portion so they don't have to raise it them selves (essentially acting as an equity broker)? Also, not talking about affordable housing where developers sell tax credits to a syndicator specializing in that but on a normal ground-up commercial property.

2. Are syndicators often the operating partner on deals or again do they just find operators looking for capital and connect them?

3. Do syndicators ever raise money and act as the operating partner themselves and received carried interest? If so, what makes a syndicator different form a REPE firm? Is it that one raises a fund that investors in many properties and one raises money for individual projects and properties?

While studying for my pre-license exam I was introduced to the idea of a commercial appraiser. The job actually sounds a lot more interesting than I would have expected but there doesn't seem to be a ton of information out there. So, I have a few questions:

1. Can you get a job as a commercial apprentice appraiser or does everyone have to start in residential?

2. Will automation end residential, commercial, or both types of appraisal?

3. How competitive are apprentice positions?

Yes, thank you very much!

Hello,

I'm currently studying for my real estate license. I have a few questions about starting my career on the right foot. I'm only interested in commercial real estate (office, industrial, retail, multi-family) and I've interned in office brokerage (investment sales mostly, did some leasing). My questions are as follows:

1. I know its best to specialize but how important is what you choose to specialize in? 

2. Brokerage is all about relationships so switching cities mid career can be a big deal. So, how do you choose the right market starting out?

3. How important is the firm you work for? I know some have training programs etc but is there a huge advantage working for CBRE or Marcus & Millichap vs a successful boutique focusing its effort on a specific prop type in only a few cities?