Originally posted by @Robert Dobbs:
Hello, Mr. Kadriri, good luck to you! I think it is wonderful, with your advanced education, in combination with living and working in NYC in an elevated capacity in the NYC real estate market, gives you some of that "NYC chops", that should go a long way to help you branching-out, on your own.
A thought for you: Do you have the possibility of renegotiating your work agreement to changing to an equity position (a "piece of the action", an "equity position" instead of a salary.)???
You may be just so valuable to your company, they are willing to give you "a piece of the rock", instead of "kibbles and bits".
And if they say "NO"! They may be many other firms that say "YES".
Shola, you can always "go out on your own" if you want to! And throw yourself to the endless real estate "gremlins and goblins" that stalk the streets of New York.
Me personally? With all the "war stories" I have heard from seasoned New York investors, if I had your "NYC education and working background", I would find a private equity company that will "pay you your worth" and give you an equity/cash position on every deal you "bring to the table".
Shola, just "one man's opinion". But who knows? My "2 cents" here, ... may just make you rich and happy" LOL!!! The best of good fortune to you! Sincerely, Bob
Thanks for your thoughtful comment Bob!
Firms here typically consent to giving equity for two main reasons: you've worked at the company for a long time and they consider you to be valuable or you brought in a deal. I've been at my current company for less than a year so if I were to ask for an equity position, I'll have to bring in a deal to have some leverage to renegotiate.
I could certainly take that route, but at the end of the day, I'll still be working for someone else and will have to report to an office everyday. For me, my number motivation to branching out is not solely for the money, it's mainly to attain freedom. I want to be my own boss, have control over my time, and work from anywhere I want.
I agree, NYC is tough market for new investors and the people that are really making things happen are the old timers. But I think one can still be successful as a newbie with enough hard work and persistent. The way I look at it, if I try and don't succeed, I can always go back to working for a firm if I choose to.
