Need serious advise / I'm stuck
Hello guys, I'll be short to save yall time:)
I've been a broker at a tiny shop for 3 years and had 3 big deals fall out of contract. I'm now dead broke. Got anxiety now and been spending hrs upon hrs reading about careers on here and on youtube.
I actually need help.
Here are some options I've got
A) Got an option to join IPA Industrial Sales group.
Pro's = They a strong team doing $200M annually in sales volume.
Con's = They only do deals over $20M & no leasing. Thus given the current market, deals are hard to do and about 2 deals are done on avg for every commercial agent. Also, its 100% commission and I really need income.
B) I got a 40% chance of joining a CBRE Industrial Sales/Leasing team.
Pro's = This team is strong, they currently have 3 million SF in leases on the market and another $700M in assets advertised for sale. Con #1 = But I have no clue how I'd fit into this bucket and if I even get a piece of the pie.
Con #2: I have a 60% of being rejected.
C) I got a offer to join Cushman & Wakefield Industrial & Sales team but they're not a high performing team. What I can gather was that... they do about 500,000 sqft in leasing/sales of industrial per year
My reasons: Leasing biz is more consistent and can pay the bills quicker versus sales. Thus, I was looking to do leasing + sales.
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My other problem:
A) I 100% do not know where I wanna be in the future. I like a bunch of stuff... from real estate investments to wealth management to tech to simply looking at small businesses in my free time.
B) I applied to a bunch of jobs in the CRE space... from analyst positions to CRE Tech Sales at startups and large companies. But no luck
But I've gotten an option to buy a business which is essentially a high paying job. Basically its a logistics biz of delivering packaged food to various stores in my area. It spits out $24K per month in pretax income. It requires 10 hrs of work over 6 days a week.
The owner is selling it for approx $170K
My family said they'll join and help pay for it to get income coming into our household.
My background:
Graduated from a non prestigious state school in finance with a 3.3 GPA
The business sounds way cooler. If you can scale that, you could become a PE operator and do equity roll ups.
Buy the business and take the first offer. Collect income while waiting for/working toward industrial home runs.
I wish someone was selling me a business for $170k
Got some updates for the biz
Its more of a franchise where the parent firm would put up $100K and we would put up $170K.
The NOI is around $200K to $230K annually.
In the long-term I'd ideally like to own a diff biz.
Scratch everything I said anyhow.
...means something very different than working 6 days a week for 10 hours each day.
If you need money now brokerage is not the answer. Leasing has a long sales cycle too. Not sure if it’s longer or shorter than I sales, just different. Get a w2. Or buy the business. But if it’s for sale for $170,000 - can it actually support you from a salary standpoint?
Just make sure they’re not selling you a can of worms with that business. Make sure they’re not handing their problem off to you
Hi,
So the biz owner said he'll have me train with him on the job for some time to learn the biz and see if the numbers check out. He is selling cuz he is a family man and can't do 10hr shifts in his 50s.
The biz makes 240k to 288k annually in NOI
But my heart wasn't in it because I thought that leasing as higher career prospects. In my head this biz sounded more like a job than a biz so I was hesitant
Does the business require 10 hours a day of work 6 days of week? Or 10 hours of work spread over 6 days?
Yeah seriously this is a huge difference
10 hrs per day, 6 days a week
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