Matthew’s Real Estate Investment Services

Does anyone know anything about this firm?

It’s a tough market right now and am considering pursuing an opportunity with them. Would appreciate some clarity on reputation, career mobility, and team.

(Speaking of Los Angeles Team)

 

Kyle Matthews (CEO) has a presence on Twitter. His schtick seems to be everyone must work 16 hour days to be successful, 6 days per week. That’s fine for some, less fine for others. For what it’s worth, when I’ve listened to the support system set up by the brokerage, it seems to be great. They assist with aspects of research, bovs, presentations, etc. so the salesperson can focus on selling and business development. Of course you need to drive a process and project manage. But still seems good. Is any of this real - no clue I’m repeating what I’ve heard. 

 

Would you recommend passing on the opportunity? It doesn’t sound like a job where you gain any sense of mobility.

 

You 100% get mobility assuming you want to be in brokerage and can build a book of business. If you build a book you can do whatever you want. If it’s not for you, you’ve learned good skills (cold calling). Will you be able to get a job at blackstone after if you decide to leave - probably not unless you’ve moved up and built a book proving you can source. But if you’re 25 and leave - you could probably find an acquisitions job via using the networking skills you’ve learned. 

 

I just read some of his posts...  He sounds awful to work for.  I much prefer interacting with brokers and people who have lives outside of their work life, personally. 

 
Most Helpful

Don’t do it unless you have nothing else lined up and you genuinely don’t think you’ll get hired anywhere else. It’s not a real estate job, it is a sales job. You will become proficient at cold calling, but nothing else. When you look at averages, you will work more than other brokerage shops and make less. Try and get a job at a bigger shop if you can that will properly train you on the fundamentals and bring you in on deals.

You will only make 25% of your gross fees when you start. Which means that if you bring in $500k, you’ll make $125k. You won’t be brought in on deals. Keep in mind, In this business, you learn by doing deals.

You can make $125k at another company as an analyst while learning true UW for real estate, and learning to speak the language with RE guys.

 

Sounds good. I’m a recent grad but have some other reputable experience and supportive parents. Considering just holding out.

 

Yeah candidly I started at a shitty brokerage and have had others tell me that time does not count towards experience when they consider my background. You really need a firm that will train you in underwriting and understanding different deals/the market. I was not getting brought on to deals, getting no direction and I wasted so much time cold calling for a shitty sub $10mm deal we wouldn't get the exclusive on because no one knew us.

 

Hard pass. M&M junior with more frat bros at the junior level. Interacted with a couple of brokers and I can guarantee these guys didn’t know shit. Only made cold calls daily.

I emailed a broker at this shop to see if he had any leads in a sub market I was interested in. He called 5 minutes later saying he was about to go to a client lunch however he has a deal I must submit an LOi on in this high octane west coast market. This fool wanted me to pay over $100k per unit land for micros units at 350 sf. Best part, he won’t get me details until late afternoon and I need to submit an offer the following day.

Every broker has technology aka sales force, costar, and excel but you need training to underwrite, understand transaction process, and story telling to close clients.

Simply put, listings gets listing. Repping buyers suck so join a team with a decent broker that join a brokerage with 20 junior brokers cold calling.

 

Worked for a middle markets firm with a less recognizable name and all similar. Junior brokers knew nothing and if you consider yourself intelligent you would think who are these morons I'm working with. I'm talking improper grammer, spelling mistakes, and capitalization mistakes in emails. They were also very aggressive and rude which is not someone a sophisticated investor wants to deal with. It's why they're in the middle markets space, not getting exclusives and all commission roles. This lack of education and formality showed itself in emails, calls, and the overall reputation of the firm. They would just blast out off market OMs to hopefully sell a sub $25mm deal in the NYC market.

Not saying this place is the exact same, but seems similar and there are a lot of dumb, salesy guys making money at this brokerage and other well known firms in the middle markets space that you do not want to work for as it would not benefit you in any way (no learning opportunities, education, or mentorship only sales for them). 

 

No offense, not really something a junior person wants to hear who is looking to learn the analytical side of the business. Sounds like they're making a million calls and hoping shit sticks to the wall of the 1,000th buyer they sent it to. 

Keep in mind a lot of these brokers even in NYC are making sub $100-200k a year consistently, keep this in mind when they try to sell you on the unlimited income potential.

 

Most people who make it out of M&M are thrilled that they 'escaped', and would hide it on their resume if they could.

Kyle thinks that M&M (and it's culture - arguably the worst part) is the gold standard for brokerage.

Run and don't look back.

 

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