IB Industrials -> Multifamily Brokerage
I have 2 years of accounting and been in IB for a 8 months… I’m thinking about joining a multifamily brokerage at a mid size growing firm in Florida.
Main reason is because I want to grow my own portfolio of multifamily. Most of the firms are 100% commission, nervous to make that leap and not have any income for a year or so… especially with the market…(less than $40k saved up in my bank acc)
I’m almost 30yrs old since I didn’t go to college right away
I’m a people person and work super hard. I think I’d be good at it but not sure…
If I wanted to leave after 2-3 years after obtaining a few complexes in my portfolio could I start my own investment firm? Is that common?
Any comments/criticisms/insights are welcome. Would appreciate all thoughts.
Hey Chimp_chump, sorry about the delay, but are any of these useful:
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
This is kinda all over the place. "Grow my own portfolio of multfamily" implies that you already own MF complexes and if that's the case why not just continue to keep doing IB and acquiring properties as you go until you have enough AUM to switch full time to that? Also, after 2-3 years in brokerage I think it would be a safe assumption that you would not be making IB money (roughly 120k each year assuming analyst to associate averaged out) over that same period (assuming no income year 1, then closing 2-3 properties in year 2 and 3 each for about $200k ish in total income or about 70k a year average). If you're just looking to get into brokerage so you get first pass at a deal and sell it if you don't like it personally then that's one thing, but if your goal is to make money to open your own shop then probably best to work at a Dev shop or REPE.
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