Brokers Only
I'm a commercial real estate broker currently working in the apartment / multi-family asset class. With COVID eviction and rent control rules continuing to grow, I'm debating adding or switching over to industrial real estate. I'm good enough at financial analysis and brokering to the point where I don't think it would be to hard. Any brokers in Industrial have any insight into the industry or is there anyone here who brokers for multiple asset classes? How is it for you? Any advice?
[{"id": "fzh4zd4", "text": "I\u2019m a broker: Don\u2019t switch based on market conditions. Market conditions change and there are down periods and high periods always. Multifamily is one of the most reliable to be in. People always need somewhere to live and rent control is a local issue (idk your market)", "replies": [{"id": "fzite0k", "text": "100% this. Do not change base on the wind. Change the strategy and tactics.\n\nBroker here in office and industrial. I am talking to banks, title companies, and finance heads to see where things are in their world and what they need. Be the expert on the eviction language and the financial aspect for MF with issues. If any thing, think of this market as an opportunity as not everyone will will survive and your competition will get less.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fzh5083", "text": "There is a reason why industrial management fee's are much less than residential. The lack of headaches is worth it, but the time between deals is much longer.", "replies": [], "depth": 1}, {"id": "fzirnap", "text": "Agree with the other commenters, but also worth looking at the local competition. Are the only industrial brokers older guys who will be leaving the market? Is MF brokerage way more competitive?\n\nOverall though, I agree about not switching just due to market conditions and that MF is likely the most stable.", "replies": [], "depth": 1}]