Hey guys i am currently pursuing my MSRE at DePaul with no work experience but an internship experience at a boutique REPE firm in Chicago. I wanted if any real estate analysts have gone down the freelance route, or rather consulting private investors with investment deals. Is their career as a full-time real estate analyst freelancer or consultant (helping with modeling, underwriting, deals) ? How much money can i make?
Any help is appreciated.
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This seems interesting, seems like it would be great exposure to HNW clients. I'm an undergrad still so I don't know anything about this, but interested in learning if something like this exists.
My guess is that the pipeline of clients would be too empty, you're going to have a hard time finding work. The rich dude isn't out there buying 10 deals a year. He's only buying 1 deal every 5 years or so.
Plus, can't they just use a broker? He'll do it for free lol
The only thing a broker cares about is getting a deal done. This applies to most buyer’s brokers too. Although they are less biased towards a particular property.
Same incentive as the free lance analyst. He just wants the fees and not tied into the economics of the deal...
I would contact satellite offices with a example of work product, a host of offerings and clear and defined pricing. Lenders (know from firsthand experience) use third party groups all the time. Usually these are established companies but I've seen one off people contracted for work. Specifically I saw a lady make several grand from writing a report I typically write in 2 days.
Situs, Spring11 are pretty well known consulting shops where consultants provide third party due diligence, underwriting etc.
If you can do market research, you might have a shot. I wouldn't farm out my underwriting, but I regularly hire people to do market research for us - less for me personally, but for the lender.
Recommendations on people that would do market research? I'm also in the development arena.
Realogic is a company based in Chicago that offers underwriting and due diligence for hire. Many investor/developer clients. Could be a good place to learn the ropes and make connections.
I have a friend who does this. Brokers and private investors ask him to compile underwriting and market research. He meets them at real estate events and just hands out his card. He says its super easy.
Do you know how much is he making? because i rather choose freelancing, if i can cut a 6-figure salary and maintain my lifestyle.
Thanks
He does it outside of his normal analyst job so his hours are limited. I know he get like $600 for pulling comps. They're really paying for your access to CoStar and RCA.
Know several people that do this and I've done it previously as well on a very small scale on the side. One word of caution though is to know your state laws. Some states are more stringent on what you can and can't consult on as a 3rd party if you don't have the appropriate licensing.
ESPECIALLY anything having to do with tax.
I did this in college as my side hustle to buy groceries and pay for bar tabs. Check out upwork.com.
You could probably do it down the road but I don't know why anyone would hire you right out of school.
You might wanna check out Bullpen as they focus on commercial real estate. I know they hire freelancer to do the modeling but there might be other opportunities.
https://bullpenre.com/
seconded
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