Broker transitioning to development
Hello all. I have been working in brokerage for the last 5 years and making a healthy living. I don't see myself brokering the rest of my life but have made some incredible contacts and gained invaluable experience along the way.
I recently was approached by a mentor/family friend who is a very successful office and MF developer in the mid Atlantic region. His plan is is to source and develop multifamily in Florida and would like me to spearhead their acquisitions.
Initially I would be paid hourly for the time I put in during the week sourcing deals. If/when we close on a deal I would also make a acquisition fee and have a sweat equity position in the deal. At that point I would transition over to a development manager role and go from there.
Has anyone had any experience with this sort of structure?
Successful broker turned acquisitions head? Hmm makes some sense. Then once closed you’re DM? Idk how you’d be qualified as it’s a totally different skill set, but seems like a great gig to see full lifecycle
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