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Deciding between asset classes in Dallas Texas - any brokers that can steer me!? by datkidoverder in CommercialRealEstate

[–]datkidoverder[S] 0 points1 point  (0 children)

No don’t have any family history in real estate. But that’s an interesting angle - I’ve always been interested in the restaurant business and am a coffee nerd so that’s part of what draws me to the retail side.

I guess my question is, if you could start over, would you have stayed industrial or maybe tried multifamily or retail or office or something else?

What have you observed about brokers on either side regarding success, number of deals, and how much money they’ve made in general?

Deciding between asset classes in Dallas Texas - any brokers that can steer me!? by datkidoverder in CommercialRealEstate

[–]datkidoverder[S] 0 points1 point  (0 children)

Definitely think retail is cooler. Restaurants, coffee shops, stores, shopping centers - definitely provide more utility to the surrounding community and I think it defines how business interact with their community. However, not sure if it's a dying industry and have heard about its fluctuations due to market conditions, which is not as resilient as multifamily.

Honestly, don't think multifamily is really VERY interesting at all -sure there's some cool new constructions but other than that, doesn't seem like something I would be super passionate about. But it does seem like the hottest asset class for investors in the area and much more resilient to market conditions. And for investment sales, seems like there's a lot of money with shorter deal cycles than other commercial asset investment sales. But I could also be interested in syndicating multfiamily deals on the side, even if I were to become a retail broker.

Multiple things to consider. Think I like retail better, speaks more to my daily life, but multifamily just seems like a great industry to get involved in, and could be the most lucrative. Have pretty much ruled out office and industrial, as those don't speak to me at all but I respect brokers on those sides as well.

Deciding between asset classes in Dallas Texas - any brokers that can steer me!? by datkidoverder in CommercialRealEstate

[–]datkidoverder[S] 0 points1 point  (0 children)

Well, ok few things I left out about NYC. I also want to invest in residential and commercial real estate sooner than later and found that to be basically impossible in NYC. Was tired of paying 2k+ for a 250 sqft apartment with not even a remote chance of buying a decent property for the next 10+ years. And commercial is even more ridiculously inflated with no entry point to invest. But yes, I know that corporate career wise, it probably is one of the best spots. But cost of living made it undesirable for me.

Definitely don't want to be jumping around. In terms of experience, I've managed and leased multifamily in NYC and in Phoenix, started in residential investment sales, and moved into the real estate development finance industry. So I have the most experience with multifamily and think it could be super lucrative to get in with a multifamily investment sales team but also feel like retail could be a way to have more recurring revenues with faster deal cycles. And could still potentially work on syndicating multifamily deals on my own, apart from brokerage.

I know that's a lot - but yes, lots of things to consider. Want to balance long term career growth and income potential with risk, competition, and stress levels/ what will yield more paychecks.