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East West Commercial Real Estate
A Full Service Commercial Real Estate Company - Brokerage, Asset Management, Lender Services, Capital
I would suggest running the other direction. That is a tough business to break into, and very few make it. You better have alot of contacts, and be ready to step on a lot of toes if you plan on making it. Its a dog eat dog world out there and they will eat you alive if you arent prepared.
I just recently moved into commercial Real Estate. I’m an account executive for a major wholesale lender. The ramp up period (Time in which it takes you to get a paycheck) is 4-6 months becuase of the time involved in closing commercial real estate loans. If you have the money in the bank and can live on very little for 4-6 months, I would suggest it. As a Broker, you will be closing 3-6 loans a year but the commissions I usually see brokers range from 20k to 150k and up. Your best bet getting started is 1. have at least five years experience in residential real estate lending 2. have money in the bank. 3. continue working residential deals to keep some form of income coming in and to ensure you don’t get too frustrated with commercial real estate.
If you are looking to get into the sales atmosphere of it, time in trade will get you there. You don’t need any special license to sell commercial real estate, you just need the contacts.
The best thing is to get a license but also look for a position in a known national commercial RE company (not a pure brokerage firm, but companies which also does property management, development, etc. Look for a sign on a construction site or the commercial building sing for lease. Those are the companies you want.) See if they have any salaried position open or any trainee position. You get contacts and training from those people.
Here in Calgary, where the commercial real estate market (all real estate, actually) is red-hot, there are some companies where you can invest $25,000, $50,000, etc. and buy a piece of commercial real estate, while getting a return on your investment.
If you have something like that in your city, that might be a good starting point to get some experience.
If you are already in the city start with doing apartment rentals to learn the first steps in developing lease agreements between tenant and landlord. You will make some quick cash, learn the basics, and develop a clientele while learning the trade. Commercial is more in depth and the prospective business that you are trying to find space for will be more picky…there needs are alot greater than an apartment renter. Public traffic, SQ FT, sign fronts, local competitors, blah blah blah- the list goes on…start small before you decide to jump in with the big fish.
Look for classes that are offered in your area…also hit up-
http://www.ccim.com.
Check and research local offices and let then know that you are interested. they may hire you once you receive a certificate an d allow you to work hands on while finishing it only takes a few weeks and I think you obtain several certifications at different levels
You just a need enough money to purchase a commercial property.
good luck