RE Pay in General
I’m making $375k and this sounds horrible but it’s a rat race I don’t want to indulge anymore I want full autonomy to build equity value in something. Could be RE could be elsewhere but I’m 27 and I’m already hitting the edge of what’s long term.
Do you have enough time out of work or do you work MF hours and have no time for creative work? I work long hours and the worst part is being so busy you have to time to be creative. I grew up thinking to business ideas and that’s completely gone now…
$375k all in at 27 is pretty solid in CRE in this job market. It seems that the powers that be like you and want to keep you around. Autonomy comes with seniority, which comes with time and a history of executing deals successfully. I didn’t make that much at 27 and definitely didn’t have autonomy but I kept plugging away and now have a high degree of autonomy. I don’t know your situation or internal politics at your job but I can tell you that 99% of people at 27 don’t have autonomy. You are still in the execute orders stage of the game, but keep doing that and source deals that you execute well on and I can almost guarantee you will gain some autonomy in the intermediate future.
Or you can try to start your own shop and have 100% autonomy. That has its own headaches and I think selling and fundraising is way more important than actually being good at sourcing and executing on good deals at the early stages of starting your own firm. Unless you have a solid anchor investor behind you to start a track record, fundraising is freaking hard on your own.
im 29 and don't make nearly close to $375k
Genuine question. Why not just network and throw money into deals. Will take some networking. Sounds easier than being an operator. Can invest in anything at that point. You have a massive salary. Sounds like nyc tho. Maybe live frugally and invest. That’s what I wanna do. Have access to deals which is nice.
I’d rather toss my money in the stock market that has historically outperformed real estate, offers better liquidity, low barriers to entry, and is passive and low maintenance. Don’t get me wrong, valuations seem outrageous on many companies, but just BTFD when it happens haha. Do a little research, find a high conviction company you like, and who knows maybe you’ll make a couple hundred percent in a couple years. Or not. I’d rather take that risk.
OP here, this is the opposite of what I’d want as that has no bearing on the skillset I’m trying to build + then better off leveraging to work at a HF do L/S for REITs
Making $375k at 27 basically puts you in the 0.1% of that age range fwiw.
I mean if you can save $50k a year for 30 years or so you’ll have $5-10M saved when you retire.
Not private jet money but pretty great if you don’t take big risks like owning your own company.
Sure you can go on blind and read about lucky SOB techies that made a couple mill before 30 but I kinda think the days of that being achievable for anything less than the very best of the best are done (btw people in finance who are best of the best make comparable dollars)
RE Brokerage might be a great middle ground for autonomy and higher ceiling for money.
$5-10M is FU money. It's not private jet money, but you don't have to do anything you don't want to do with that amount in the bank, assuming you're not an asshole in how you spend your money.
You’re totally right - private jet money is a much better description.
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