Would you rather be a dentist or commercial real estate broker?
I recently got accepted to only one dental school (out of state) and the tuition alone is $420K, not including any other expenses. I’m 27 and have a hard time realizing if this is a good financial move. I still want to be able to get married, have kids, buy a house, etc… but the debt is scary. I’ve recently discovered a commercial real estate broker position which is 100% commission based. It seems like most of the agents at the firm were making 75k+, but it’s sales and you can also make nothing. I can see myself doing both jobs but I’d like to get other peoples perspectives on which career they would choose and why.
[{"id": "hxpnbzk", "text": "Dentist.", "replies": [{"id": "hxpnj73", "text": "Why dentistry over cre broker?", "replies": [{"id": "hxputt0", "text": "Why dentistry?", "replies": [], "depth": 3}, {"id": "hxqwwqh", "text": "I know quite a few dentists. Everyone of them makes good money. I can't say the same for CRE brokers, agents, or most real estate agents for that matter. Don't be so afraid of debt.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxpnx7w", "text": "Dentist =stable income with money to invest. Any real estate job is going to be up and down, boom and bust with no idea if you will get a paycheck next month. Plus most people think agents are trash, whereas most people think that people with doctoral degrees are awesome", "replies": [{"id": "hxpuqr8", "text": "Most agents are trash. The bar is set extremely low. Low barrier to entry often = trash.", "replies": [{"id": "hxpuwfd", "text": "Agreed. Also I didn\u2019t mean that in a derogatory way, but a few bad apples have ruined the image.", "replies": [], "depth": 3}], "depth": 2}, {"id": "hxtjroq", "text": "Dentist is the most hated profession in America. Some people fear going to the dentist more than death, and dentists have pretty high suicide rates compared to most in their income class. Special case.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpohcr", "text": "A dentist is always needed in society.  It's almost guaranteed income for life.  Plus, hours are set.  You're not working evenings, weekends, on-call, etc.  I have two friends who are dentists.  They love it and can work easily into their 60s without issue.\n\nA broker takes a lot of time, energy, and luck.  Income is not guaranteed and the profession is dependent on the economy.", "replies": [], "depth": 1}, {"id": "hxpojx9", "text": "Dentistry is tough, I think it has one of the highest suicide rates of other professions. You are your own boss and have to build up a client base, higher assistants and carve a niche out for yourself. \n\nCommercial real estate brokerage is also tough. You have to build up a client base and carve a niche out for yourself. And it takes awhile to get going, often 5 years or so before you start to make serious money or drop out with nothing. \n\nA lot of cre is relationships, and either you have them or you don\u2019t. And without them, building a network from scratch takes time and effort. \n\nSo I assume you have an interest in dentistry and I would shop around to see if there are other places that are cheaper. I think there is a rural dentistry program that is subsidized if you agree to work in a rural area. And with so many people leaving the city these rural areas may not be as bad as they used to be.", "replies": [{"id": "hxpxbfn", "text": "This. Dentistry is a stable job but you make the \u201creal money\u201d when you own your own practice, and that\u2019s after paying down your massive debts. If you live in an HCOL city, you\u2019ll be competing with thousands of other dentists unless you spend more years (and rack up more debt) specializing. If you really like it, then you should do it, but it\u2019s not necessarily the practical thing to do. \n\nA broker, meanwhile, can also make really good money but without the debt. Get yourself in with a really good team (ie strong deal flow, good reputation, institutional relationships, etc) and you can build a great career. Also make sure the MD on your team actually likes to share the commissions down to the junior people.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpomvf", "text": "Dentist with a plan to invest and switch out unless you have a serious in with real estate", "replies": [], "depth": 1}, {"id": "hxppj5d", "text": "I saw an ad on simply hired the other day for an oral surgeon. $200k-$260k/yr starting salary. Their customers aren\u2019t even awake for most of their interactions lol.", "replies": [{"id": "hxqrlhn", "text": "I\u2019d guess most oral surgeons make 2-4x that amount if they are working full time. It is extremely lucrative, but it\u2019s 8-10 years post college training and very competitive.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpq1cy", "text": "Debt is scary but having to start up a business with no experience and a couple grand in fees let alone marketing\u2026.\nDentist. Get real estate license after, then use both.", "replies": [], "depth": 1}, {"id": "hxpq95x", "text": "These two career fields are so amazingly different that this is such a strange question to me. I\u2019d gather that most people in the commercial real estate field never wanted to be dentists and vice versa. Do YOU want to be a dentist? If so, then why even entertain a potential job in commercial real estate? Why not look at becoming a dental hygienist or something similar in the medical field?", "replies": [{"id": "hxpsq5t", "text": "I think for me, it comes down to income and lifestyle. After talking with some cre brokers, I saw that they were bringing in similar incomes &amp; lifestyles to dentists and that\u2019s what initially drew me in. The concern for me is it being 100% commission based. I like the idea of going straight into the workforce rather  than doing an additional 4 years of school plus 500k+ debt, but dentists\u2019 income is guaranteed and recession proof.", "replies": [{"id": "hxptx4a", "text": "It sounds like you don\u2019t really have a burning desire to be a dentist! So in that case, it probably doesn\u2019t make financial sense to pay that much money to become a dentist when brokers have the potential to make a ton of money. I don\u2019t know about lifestyle however - I think brokers have to hustle a ton until they are older and more set up. If I had to do it all over again, I would have gotten a degree and job in finance because that seems to be the most direct way to get to big money.", "replies": [], "depth": 3}, {"id": "hxpurj7", "text": "SOME cre brokers are living a dentist's lifestyle. If you're looking from a financial perspective, being a dentist is vastly superior.", "replies": [{"id": "hxpwf34", "text": "I agree. Dentists for sure have a superior income if we\u2019re talking majority. My issue with dentistry is that I\u2019ll be graduating at 31 with 550k+ of debt. Does it still financially make sense to go that route?", "replies": [{"id": "hxq36wj", "text": "It depends. If you're willing to live in a town of 75k to 200k people and start your own practice, you can easily make 500, 600. Even 800k per year. If you want to be an employee in NYC, income will be more restricted. Do you need to spend 420k on your degree?  Seems like there are many options where you could come out with half that debt.", "replies": [{"id": "hxq6c8s", "text": "Unfortunately, this is my only acceptance. I don\u2019t want to waste more time/money to reapply and take the risk of not being accepted next year.", "replies": [{"id": "hxr3htr", "text": "You could sell real estate in the mean time.  It doesn't take years to be able to do that.  If you're unwilling to potentially spend a year to save over $200k that's another thing.  If you sell real estate in places like Toronto and Vancouver, selling any piece of shit dump can make you a year's salary for an average person.  I think the main advantage is you don't have to work full time and the cost of entry is very very low.  It all comes down to your life goals and whether you think you can handle that initial debt while still saving up for a house and family.", "replies": [{"id": "hxrfxxc", "text": "&gt;You could sell real estate in the mean time.\n\nAnd, you could take your RE exam while you attend dental school.", "replies": [], "depth": 8}], "depth": 7}], "depth": 6}], "depth": 5}, {"id": "hxq4i2e", "text": "No, you\u2019re also losing years of income while you\u2019re in school.  Dentist is the easy answer for most people but reality is the top commercial real estate people make way more than a dentist.  Look at time spent at CRE as your paid education with a plan to own your own brokerage down the line.", "replies": [{"id": "hxqvz6i", "text": "There's this bit that Chris Rock did a while ago.\n\nhttps://youtu.be/53hXBg-U-ac", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hxr2p5k", "text": "&gt; After talking with some cre brokers, I saw that they were bringing in similar incomes &amp; lifestyles to dentists and that\u2019s what initially drew me in\n\nJust be aware this is not a representative sample you are talking to. These are the \"survivors\", who are now doing well. CRE can be a very lucrative career path, but it has a huge attrition rate and can be high stress. Most don't make it past a couple years or just make enough money to survive. The learning curve is steep and it will take years to learn the craft with good mentorship. It's a high risk / high reward profession where you are not rewarded by how \"hard\" you work, it's purely results based.", "replies": [], "depth": 3}, {"id": "hxrbyv4", "text": "At what age?  Totally different line of work.\n\nYou can be a dentist in 4 years and making $250k-$300k at the right office with production and $600k if you want to go somewhere remote.\n\nOr more if you open your own practice. But you will always work with your hands and trade time for a high hourly income unless you open a practice and hire other doctors.", "replies": [], "depth": 3}, {"id": "hxrfk9w", "text": "RE Broker:  100% commission / income can be whatever you want / no debt\n\nDentist: No commission / gotta build up clientele / school: 420K / Office set up with all equipment: 800K\n\nI'd still take getting the skill set of being as dentist to have something to fall back on and...I'd get my brokers license and buy a shitload of real estate for the next 40 years.", "replies": [], "depth": 3}, {"id": "hxtnf76", "text": "Get the dental degree. I\u2019m a developer and not a broker but the majority of brokers I work with are not pulling that much. I have a friend who is young and ambitious and started his own brokerage and he is making bank but he works constantly. \n\nDentistry, especially owning your own practice, you can build up to more money. It\u2019s an ideal situation for work life balance if that\u2019s what you\u2019re going for. Take the money you make from dentistry and put it towards real estate. \n\nMy parents owned small practices similar to a dentists office. They had flexibility, lifestyle, and money. They didn\u2019t even get that big of practices and with any amount of business training, could have grown vastly. But they were medical people, not business people. A business person in a medical field rakes in money.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxpqz8e", "text": "Any chance you can do the CRE gig for a year or so and then do dental school if that doesn't work out?", "replies": [{"id": "hxpt0nm", "text": "Yes I could, but I was told not to expect to make any money my first 1-2 years in the business as it takes a while to learn/form relationships", "replies": [{"id": "hxsug0t", "text": "You won\u2019t be making money in 2 years in dental\nSchool either", "replies": [], "depth": 3}], "depth": 2}, {"id": "hxr3c1m", "text": "You can't even really tell if you'll be good in CRE after only a year. You could see if you enjoy the field or not I guess, but it takes much longer usually to see if you'll be able to make a killing in CRE.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpsorl", "text": "My brother is graduating in May as a dentist. He moved from U.S to Canada only one school accepted him. He is doing an after school pediatric specialty program. Im proud as all hell of him especially for not being afraid of that debt cost. If its what you want to do in life than that shouldn't stop you. I think you have your answer already and no stranger can validate it for you. I can tell you this though the regret of not doing what you want will eat at you every single day. Choose wisely.", "replies": [{"id": "hxpwql7", "text": "Yes, I don\u2019t want to live with regret. That\u2019s why it\u2019s been tough for me to make this decision", "replies": [{"id": "hxpwzfu", "text": "Understood completely, If you want to be a dentist go get it done! If you so choose to also, as a stranger ill be very proud of you for taking such a big leap. Good luck!", "replies": [], "depth": 3}, {"id": "hxrgvbm", "text": "&gt;Yes, I don\u2019t want to live with regret. \n\nThat one's easy: Don't date or marry my ex.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxptaqe", "text": "Well, what does your head say?", "replies": [{"id": "hxpu4vo", "text": "There\u2019s pros and cons to both. Curious to see other peoples perspective", "replies": [{"id": "hxqf406", "text": "But what does your *heart* tell you?", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxptdjf", "text": "That is insanely high tuition. I\u2019m not sure if that\u2019s standard now, but if the tuition wasn\u2019t a factor I would choose dentistry 100%. Do the math and see if you could come out ahead with a dentistry income. \n\nThat said, think about what you actually want to do. I\u2019ve been in CRE for about 6-7 years. I chose the path of finance/real estate because it paid well, but I find it can be relatively devoid of meaning and it\u2019s a grind. It\u2019s also a very traditional industry where being in the office is still prioritized (for the most part). If I had to do it over again I would go into tech.", "replies": [{"id": "hxpwmow", "text": "What area in tech?", "replies": [{"id": "hxq10fe", "text": "Software development. The culture is tech companies is better than in finance\\cre, usually better hours, and better pay. \n\nSomething made you apply to dental schools to begin with though. Not sure why you\u2019re even considering a broker job, there\u2019s a million things better than being a broker. And 100% commission, F that.", "replies": [{"id": "hxq4lhy", "text": "I did not expect to only have one acceptance to dental school, so that\u2019s why I\u2019m looking at other options. I don\u2019t want to waste more time/money to reapply. I agree that there\u2019s so many other jobs besides CRE that offer the income and lifestyle I\u2019m seeking and I\u2019m trying to find them since I was so caught I\u2019m in the healthcare world. Considering software but it looks like I\u2019ll need to compete a Bootcamp since my degree is not in computer science.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxpu0au", "text": "Hope you choose dentist", "replies": [{"id": "hxpwkdh", "text": "Why ?", "replies": [{"id": "hxpxq5e", "text": "1.\tWho knows what is going to happen to the realtor profession with c\u00f3moda miss like Redfin, etc.\n2.\tI know a lot more wealthy dentists than wealthy agents.\n3.\tIt's easier to start from scratch buying a dental practice than it is real estate.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxpukxk", "text": "CRE broker, but that's a personal choice. I think the repetition in dentistry wouldn't be a fit for me. Seems like night and day versus full-on entrepreneurship on a daily basis (I recognize that dentist also need to be entrepreneurs unless they accept a gig with the chains, but not sure it's more entrepreneurship than many other small businesses... CRE brokerage seems like a more intensive form)", "replies": [{"id": "i1etvd1", "text": "Thoughts on going solo on all deals or 50/50 partnership on all deals? We\u2019re both new to the business &amp; we\u2019re presented this offer. Not sure how to respond to it.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpwn65", "text": "A weave dentist makes u see $180k. Pass fir that much time and debt", "replies": [{"id": "hxu5e61", "text": "Wut", "replies": [{"id": "hxup5cu", "text": "Damn. Typos. Too much whiskey when I was typing before. Average dentist makes $180k. Too much in student loans and delayed time getting into productive producing years. I\u2019d pass", "replies": [{"id": "hxuu6x3", "text": "Yeah but alcoholism as a side effect of a career..... Real estate is tough", "replies": [{"id": "hxw05by", "text": "I know a lot of doctors and dentists. Many of them are functional alcoholics. Life\u2019s hard no matter what. Choose wisely", "replies": [{"id": "hxw9ku4", "text": "Just speaking as a person in recovery and in real estate....", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxpwolg", "text": "Dentist here. I\u2019m Assuming that you have an interest/ability in sales since you are considering being a broker.  \n\nA dentist with half the personal skills/sales ability of an average CRE broker will do exceptionally well.  Most dentists are academic, so a business and entrepreneurial mindset in dentistry does very well.  I would go dental and apply the drive of a good broker to build a strong business with multiple dentists working for me.", "replies": [{"id": "hxrg4yw", "text": "This.\n\n(And....invest in real estate along the way).", "replies": [], "depth": 2}, {"id": "hxtjsre", "text": "And have you factored a $420k tuition loan on the way to become a dentist? Not even talking the opportunity costs of missing out on 5 years of work as a CRE broker?", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxpy9ds", "text": "Dentist here, \n\nConsider HPSP, it\u2019s not a bad deal if you go to an expensive dental school. It will relieve a lot of the headache of what people get thrown into out of school, to produce income to pay off debt. \n\nFor people that don\u2019t have that level of hustle, it\u2019s a good option. Coast for a few years out of school and just try to enjoy life, then you can hustle not to pay off debt, but to secure the lifestyle that you want.", "replies": [], "depth": 1}, {"id": "hxpyxbx", "text": "i love my week, work schedule, flexibility, and making over $300k. would never wish to spend my life in a dentist office. that said, seems like a surer path to being a dentist but do what will make you HAPPY", "replies": [{"id": "hxq0oqk", "text": "Are you a CRE broker? If so, do you recommend getting into the field ?", "replies": [{"id": "hxq2sk9", "text": "depends on market. i\u2019m in texas which is booming. it took me like five years to make $60k but now i can shoot for big years. i do land and work with home builders and developers. leasing and retail can be more cutthroat but easier to penetrate. there is no wrong or right answer, but if you are a motivated and driven person, you will do well. i see many of my peers killing it while not having the work ethic or expertise a dentist or doctor would have. if you bring that over into this world you\u2019re destined to succeed. don\u2019t underestimate quality of life. i\u2019m in my office 8-12 hours per week\u2026i drive all over the city every day, and i make my own schedule. best of luck!", "replies": [], "depth": 3}], "depth": 2}, {"id": "i1etumx", "text": "Thoughts on going solo on all deals or 50/50 partnership on all deals? We\u2019re both new to the business &amp; we\u2019re presented this offer. Not sure how to respond to it.", "replies": [{"id": "i1eupfj", "text": "part of my success is being somewhere with over 15 brokers. i hustle and if i help you, im ok doing all the work and getting 50% even if i have to later split with the firm. look at it as a business entering the market and having to be aggressive and take some losses. once established things will change. if taking 50/50 gets you going it\u2019s worth it", "replies": [{"id": "i1ev3fx", "text": "So how do you communicate this with the other person wanting a 50/50 split partnership on all deals? We\u2019re both brand new to the business and have access to senior partners for help. I want to set clear expectations with this person so there\u2019s no hurt feelings.", "replies": [{"id": "i1ewiej", "text": "in that case i would go s\u00f3lo unless that individual is a trustworthy and valuable teammate", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxq01ai", "text": "Pursue dentistry!  While you're doing that tread a few commercial real estate books. Set your goals on opening your own practice and then buying a multi tenant building for your practice. Soon enough you'll be able to do both.", "replies": [], "depth": 1}, {"id": "hxq0chn", "text": "For job security and almost guaranteed good money I\u2019d go Dentist. Most people I know in real estate learned through practice or investing, not schooling. Get the good job, get a steady income stream and learn about investing in the meantime. You can always become a broker, but it takes a lot more to go back to school and get into medicine.\n\nIf you love RE though just go for it. Both are very solid careers. I think the secure income stream and using that to invest would be the best case scenario, but to each their own. \n\nI dropped out of school at 20 for a career in brokerage and I\u2019ve been fairly successful by most standards, I\u2019m not killing it, but I make a good income and have a great work/life balance. With that said, I often think about what it would have been like if I\u2019d finished school and gone into law or something else, knowing I can always do real estate, but I also don\u2019t regret my path and I know it\u2019s not too late to go back if I really want. Good luck with your decision and regardless of what you choose you can have a great career and experience real estate!", "replies": [], "depth": 1}, {"id": "hxq18y4", "text": "Be a dentist for many years, build up some cash, and then do your commercial real estate by investing in multi tenant medical office buildings. You can have multiple practices in multiple buildings while leasing out the rest of the office suites to medical professionals.", "replies": [], "depth": 1}, {"id": "hxq1pzd", "text": "If you\u2019re scared of leverage, CRE would be a strange place to go", "replies": [], "depth": 1}, {"id": "hxq3xjw", "text": "Why not be a commercial real estate investor. If done right, you can make six figures while working only 5-20hrs a week. Do whatever you want with life in the mean time. My 2 cents.", "replies": [{"id": "hxq48dx", "text": "Looking for a career to generate income. Don\u2019t have the financial means to be an investor at this stage of my life.", "replies": [{"id": "hxq6hiw", "text": "You don't need the money to start. You need the knowledge of how a successful real estate deal looks, and how to identify an opportunity. if you start with money and no knowledge, you will loose the money.     \nCommercial real estate is a people business, and you will need to read a lot of books, and talk to a lot of professional people. Neither path is easy. To become a dentist will take years, and so will commercial real estate. I'd choose real estate all day! A dentist MUST be in the office everyday, business is totally relying on you, need employees, office, INSURANCE, and other things I don't know about. It's not as simple as some of these posts make it to be. Everything is hard in life. Choose your hard. In real estate, you will have your time to do what you please. Time for your family, travel, or just hang around the house all day. This is what I value the most.", "replies": [{"id": "hxqv1mt", "text": "This is true. CRE, while it takes a few years to establish a clientele list. Depending on what you specialize in matters a lot which no one here really has addressed. Some brokers specialize in selling office space, some sell industrial which is great money as is data centers. Yes it is commission based yet once you have a good grasp of the industry and are reputable, you could make a killing. It will allow you to step away and raise a family, invest passively with knowledge yourself how to do so such as underwriting skills, and really have a network of investors to work with. For me at least, I already invest and do very very well. One day, the plan is to just live of investing and enjoy my life with my family. Which may be sooner then later. At the end of the day, both fields are great but you hear about multi millionaires and even billionaires who obtained their wealth through real estate. Not dentistry. Sometimes yet I hear it more so in the CRE realm. Which for the most part is private unless your in the industry. Yet, at the end of the day, there are people who love dentistry and also real estate. They are both significantly a grind yet have high rewards. If it was me, CRE is more fitting for my persona. My background is all numbers and business and there is a reason why not many brokers stay in the field and don\u2019t make it. It\u2019s brutal, long ass hours, and just grueling. Yet, if you won\u2019t give up and work hard, you will do well. Also if you enjoy talking to people and making connections with everyone, you will do very well if you also apply your knowledge of CRE. It\u2019s a lot of outside work too, yet, the people that make it big are the ones who don\u2019t give up and know their stuff.", "replies": [], "depth": 4}, {"id": "hxrgk10", "text": "This guy! \\^", "replies": [], "depth": 4}], "depth": 3}, {"id": "hxrggiy", "text": "You also don't have the skill sets to be a dentist at this stage of your life.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxq6oq7", "text": "Our top broker made $1.7M in gross commissions this year of which he took home 90% of that. Yes it took him 15 years to get there, but this game is absolutely worth playing and has major benefits once your established. He has no set hours works when he wants to and takes multiple 2 week plus vacations a year. Works on the road from wherever he wants. Also, the next 5 top brokers took home over $1.2M net. That performance is compounding YoY.\n\nIf you do choose dentist, I\u2019m a CRE broker and I\u2019d be happy to show you how to qualify for an SBA loan so you only have to put 10% down to purchase the building you operate in and you can own/build equity &amp; net worth.", "replies": [{"id": "hxqhggb", "text": "Top dentists can definitely also make 1.5 to 2mm. Except its a lot easier to become a top dentist than a tip broker. If you have just a little entrepreneurial flair, you can have you own dental practice with dentists working for you and take off from there. \n\nAlso, dentists make $250k right off of school, as opposed to CRE.", "replies": [{"id": "hxquf9v", "text": "What\u2019s the operating expenses ratio on an average dentist practice vs gross income? Also, what\u2019s the cap ex for dentist office start up costs?", "replies": [], "depth": 3}, {"id": "hxr338t", "text": "&gt; Also, dentists make $250k right off of school, as opposed to CRE.\n\nThis is true, but they don't start earning until after 4 years of school, so a more even comparison would be comparing year 1 as a dentist to year 5 as a broker.", "replies": [{"id": "hxr4tbj", "text": "Also, OP said he\u2019s considering taking on $420k of tuition liabilities. That has to be factored into the equation.", "replies": [{"id": "hxsefy6", "text": "Agreed.", "replies": [], "depth": 5}], "depth": 4}, {"id": "hxvb5bl", "text": "the difference is most dentists make year 5.  90% of brokers are washed out by then.", "replies": [{"id": "hxw7vbe", "text": "True as well!", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hxsvijj", "text": "Dentists generally make a lot less than that. Average is 170k and right out of school it's often closer to 120-130.", "replies": [{"id": "hxsvj82", "text": "All the numbers in your comment added up to 420. Congrats!\n\n      170\n    + 120\n    + 130\n    = 420", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "i1ett4z", "text": "Thoughts on going solo on all deals or 50/50 partnership on all deals? We\u2019re both new to the business &amp; we\u2019re presented this offer. Not sure how to respond to it.", "replies": [{"id": "i1g9qhq", "text": "You don\u2019t need commit to either. You can co-broker deals on a case by case basis.\n\nIf you\u2019re young and need experience, it may make sense to work under a senior broker w/ a strong brand to gain experience on how to successfully close transactions. But after 2 to 3 years, you should be able to convert your own opportunities and collect 100% of the commission. \n\nIf you\u2019re working with another broker who is young and doesn\u2019t have experience and you\u2019re committing to split 100% of the deals on a 50/50 basis, they better be a math genius or have a some serious relationships that are going to bring in a lot of business. If not, ask yourself why you\u2019re committing to give away 50% of your $?\n\nThe most important decision to make is which asset type (industrial, retail, office, multifamily, etc\u2026) you will like to work on and which territory you will work. If a deal falls in your lap that is outside of your core competencies, then you can refer that deal out to a broker who does specialize on that deal on a 50/50 split basis - or 60/40, 70/30 - you\u2019re in the drivers seat so you can set the terms. You\u2019re giving him the deal so he wins and your leveraging his experience/strengths, so you win.\n\nSplits can be determined on a case by case basis. Ultimate flexibility.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxq6zo8", "text": "Dentist.", "replies": [], "depth": 1}, {"id": "hxq7fv4", "text": "I\u2019m not a broker but I was recently thinking being a dentist is one of the best careers there is.  People always need you, they rarely die at the dentist, you can open your own practice almost anywhere, etc.  I told my son \u201cif you have no idea what you want to do by the time college rolls around, consider being a dentist\u201d.", "replies": [{"id": "hxqvhci", "text": "It\u2019s definitely a great career, just don\u2019t know if it\u2019s worth 500k+ debt!!", "replies": [{"id": "hxu54la", "text": "Dude, you have an amazing opportunity sitting in your lap. Debt can be paid off slowly and EVERYONE is in debt, one way or another. Real estate is a crapshot.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hxq8og5", "text": "There are very few, if any jobs that are worth going $420K into debt for and dentistry isn't one.", "replies": [], "depth": 1}, {"id": "hxq99kf", "text": "Personally, I'd be a dentist and use my high income to invest in real estate", "replies": [{"id": "hxrh7ov", "text": "Bingo.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxqe40n", "text": "Taking on that much personal debt for something you are unsure of is never a good idea. If you can\u2019t make dentistry happen without figuring out a better way to pay for school I would suggest taking the other route. Stay out of personal debt, learn to sell, build your business, and let it compound year after year. A dollar earned and invested today is worth much more than a dollar that is not guaranteed years from now especially if you are also going to put yourself in massive debt in order to gain that dollar.", "replies": [], "depth": 1}, {"id": "hxqe6t8", "text": "Ask the same question in the dentistry subreddit", "replies": [], "depth": 1}, {"id": "hxqe8dc", "text": "What is your interest? Do you think you would like to do dentistry for the rest of your life? You should think about what you really want to do first before thinking about the money.", "replies": [], "depth": 1}, {"id": "hxqee4f", "text": "Why not study to become an anesthesiologist? I\u2019ve recently learned how much fucking bank they make. If you\u2019re torn by such disparate choices, why not throw this one in the mix?", "replies": [], "depth": 1}, {"id": "hxqlkfz", "text": "can someone explain to me why the tuiton is $420k? Wtf, half a million?? How?", "replies": [{"id": "hxqmo7h", "text": "Dental schools are a business and are constantly raising tuition prices", "replies": [{"id": "hxqndzq", "text": "insane", "replies": [], "depth": 3}], "depth": 2}, {"id": "hxvz46k", "text": "US Dental schools are the most expensive schools in the world, even more than medical school which are at 250k-300k ish.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxqvk7e", "text": "Sales jobs can get hot at times, but die off most of the time. Sales guys are left hopping from job to job because they often don\u2019t meet their targets and are laid off. Real estate sales is a HIGHLY saturated field\u2026 there\u2019s wayyyyyy too many sales guys out there. \n\nI say go to dental school. You\u2019re guaranteed a shit ton of money and can open your own practice at some point. You could always do RE on the side. Matter of fact you could just buy your own RE and make passive income to pay off your debt faster. Sales is not a stable job, not worth the headache.", "replies": [], "depth": 1}, {"id": "hxqx5vp", "text": "Not to hate on this comment but agents are not the same as CRE brokers with a specialty. If you sell a house compared to 5 million dollar data center, with a 3% commission, that\u2019s a lot of money. I\u2019ve seen brokers make a commission of 2 mill and the paycheck to prove it. Just with one deal. It\u2019s a risky business, yet Redfin is crap and if your basing the success of a CRE broker off of using that, then your looking at some pretty crappy brokers. There is so much more to it. Also if the broker has a high net worth going into the business, being a CRE broker may be a wonderful idea as it connect you directly with investors and developers if investment is in mind which it should be. Dentistry is great yet, to say they are then going to invest in real estate later. Which alot of these post are recommending is like saying two totally different careers should combine with knowledge of one but not the other. A broker does not do dentistry, and a dentist is not a broker. CRE does not have a price cap, a dentist may not either depending on where they work or if it\u2019s a own practice, yet both can make a significant amount of money. Real estate tho, while dependent on the economy, is something like a dentist in which you can do it for life. Yet you have networking in that field. These fields couldn\u2019t be more Opposite and I guarantee the personalities of both of these characters are very different. Commercial brokers can be very brutal, especially in the workplace. Very different type of breed. If you don\u2019t give up and keep going, you will do well, but to compare them is like comparing ice and fire.", "replies": [], "depth": 1}, {"id": "hxqy5ts", "text": "A long time ago I DIDN'T get into medical school and I always say it was the best thing that could have happened for me. I would have been an older student- starting at 24. The amount of time and debt it would have taken would have delayed my path.\n\nI took the med school rejection and got pissed off and was determined to succeed as a comm broker.\n\nI didn't really have an the option you do, OP. Honestly I'm not sure what I would choose in your shoes", "replies": [{"id": "i1etwg4", "text": "Thoughts on going solo on all deals or 50/50 partnership on all deals? We\u2019re both new to the business &amp; we\u2019re presented this offer. Not sure how to respond to it.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxr9hjm", "text": "This is maybe an unpopular opinion on Reddit, but less so among real estate professional. Brokers are a drain on society and are always the least knowledgeable people in any room. There\u2019s very little that\u2019s valuable to what they do, and the compensation doesn\u2019t make a lot of sense. Wouldn\u2019t be surprised if tech washed them out in the next 20 years.", "replies": [{"id": "hxu58et", "text": "\ud83d\udc4f\ud83d\udc4f\ud83d\udc4f", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxr9r7z", "text": "My son is in his first year of Dental School, it will be worth every dime. Those that get in to Dental Schools are the elite students and their career path will be incredible. Do you mind telling me what school you got into.", "replies": [], "depth": 1}, {"id": "hxrb73n", "text": "Broker for 20 years.\n\nThere have been ups, downs super ups. Super downs become a dentist. Lol.", "replies": [], "depth": 1}, {"id": "hxrbk56", "text": "Dentist", "replies": [], "depth": 1}, {"id": "hxrf3uk", "text": "I'd rather be a dentist and take all my spare cash and be buying real estate.", "replies": [], "depth": 1}, {"id": "hxrfsis", "text": "Dentistry is more stable, and you shouldn't worry about the debt. You will have no trouble paying it down with the money you can earn as a dentist.\n\nCRE is more exciting, probably more stressful, riskier, and potentially more lucrative. \n\nTo help figure this out, try answering these questions: Do you like being financially stable? Do you like working on people's teeth? Do you like investing in real estate?\n\nIf I were you, I'd consider taking the dentist job and then funneling your surplus cash into real estate partnerships. Scale your practice, hire other dentists, and transition time away from that to make more time for investments if you want. PM me and I'd be happy to chat more.", "replies": [], "depth": 1}, {"id": "hxrgmao", "text": "I have a dentist client who has built up a great practice. His w2 is seven figures. He and his wife own about 150 units so they do the real estate investing too. I dont think you can go wrong as a dentist", "replies": [], "depth": 1}, {"id": "hxrhchx", "text": "Being a broker and not being a rainmaker is a miserable existence. You have black swan events every few years- 2008 crash, pandemic, etc where if u aren\u2019t sitting on years of living expenses you could be up shits creek without a paddle while no deals are in advanced stages of closing. Deals fall through all the time.  Brokers jumping from one shop to another for years and floundering. There\u2019s no guarantees in anything you do. Being successful in either one would be a good life.  But if u don\u2019t want to make 100 calls a day for years to build a book of business then dentistry for sure.", "replies": [], "depth": 1}, {"id": "hxrhejq", "text": "Definitely a commercial real estate broker, as a dentist i'd have to get real personal with the client, you know all kinds of questions and digging into their anatomy....as a commercial real estate broker, i am at arms length and i'll make alot more money with just one client..plus i don't have to purchase all kinds of equipment and employ others to run an office..another headache... you have to manage your clients and your employees as a dentist....talk about an early grave. Not to mention the years and money spent on dentist school or whatever they call it...anyone with 1/2 a brain can make money as a commercial real estate broker and it costs..0 dollars to win, win, win,,,,", "replies": [{"id": "i1etysl", "text": "Thoughts on going solo on all deals or 50/50 partnership on all deals? We\u2019re both new to the business &amp; we\u2019re presented this offer. Not sure how to respond to it.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxrkjpv", "text": "A high paying, well respected job in which you contribute to society.\n\nOr a job where people use the term 'hustle'.", "replies": [], "depth": 1}, {"id": "hxrlu8h", "text": "Successful real estate brokers earn as much as the average dentist. \n\nSo I would pick a dentist career over real estate broker if I want to maximize earning.\n\nOn the other hand, if I had trouble being accepted at dentist school and also I\u2019m not confident I\u2019m going to make it through school, then I\u2019d rethink the dentist path", "replies": [], "depth": 1}, {"id": "hxrqtkh", "text": "Dentist. The tuition debt honestly doesn't look as bad when you factor in the first 4-5 years as a broker when you are making peanuts. I've seen a fair amount of people who get into brokerage and think that they'll be earning a steady +150k **if** they can make it past year five, there's absolutely no guarantee. The flexibility is nice but it's definitely not as comfortable of a lifestyle. Your clients ultimately have the last say in every transaction, deals fall through even if you do everything by the book.  I know plenty of seasoned brokers that live frugally that easily pull 400k, they still stress about spending money on a 40k car because the market could take a turn at any time.", "replies": [], "depth": 1}, {"id": "hxrsqh2", "text": "Specialize in root canals and crowns and become the specialist for a few offices. My ex\u2019s father did that and was making a million a year basically working 8-5. He did that quite a few years. Now he has a small dental empire in Westchester County, AND invests in commercial real estate.", "replies": [], "depth": 1}, {"id": "hxrvk06", "text": "I know several dentists &amp; was surprised to hear that the job is physically demanding. Crouching, hunched over etc, messes with lots of back &amp; leads to problems from poor posture. You might want to explore this idea", "replies": [], "depth": 1}, {"id": "hxrznaa", "text": "I took my kid to the dentist recently. We checked out band he figured out how much money dentists make.\n\nHe\u2019s going to be a dentist\u2026\n\nIn all seriousness, that\u2019s a lot of dough. Tough call!", "replies": [], "depth": 1}, {"id": "hxs3det", "text": "Go to dental school. Anyone can become a licensed broker in no time at all. This is a hustle. Get that degree and do this on the side.", "replies": [], "depth": 1}, {"id": "hxs3fny", "text": "Broker", "replies": [], "depth": 1}, {"id": "hxse7qa", "text": "To make the money to pay off that debt and to make that money to the opportunity cost as a sales broker you will need to be a small business owner with at least 2 to 3 employees. Good luck", "replies": [], "depth": 1}, {"id": "hxsfpxw", "text": "I was accepted into an expensive dental school several years ago but ultimately didn\u2019t go due to the cost. Also I know I wanted to stay in CA so dentist salary isn\u2019t as competitive as other states. Then I went into commercial RE brokerage for a year and now I\u2019m working a salaried job in CRE.\n\n1. If you don\u2019t have a type A personality or existing relationships with property owners then it\u2019s very hard to make comparable money in brokerage. So many brokers fail within a year and if you fail you won\u2019t be able to go back to dental school. During my time in brokerage I actually tried to reapply to dental school because I felt like I had made a mistake. \n\n2. If you can get a salaried job in CRE that has potential career progression then it might be pursuing especially if you\u2019re in a competitive dental market such as CA and NY. \n\nFeel free to dm me if you want more info.", "replies": [], "depth": 1}, {"id": "hxsu7gd", "text": "If you choose dentistry and end up not loving it, you will be $500k in debt. If you try CRE and you don\u2019t love it, you would have learned a valuable lesson.", "replies": [], "depth": 1}, {"id": "hxsuvp8", "text": "Go OMFS and get paidd.", "replies": [], "depth": 1}, {"id": "hxsuyox", "text": "Dentist here. You'll probably make more as a dentist but when you take into account the insane student loan debt, malpractice insurance, disability insurance continuing ed courses and license fees it's going to end up being not that different. Being a dentist will generally be commision only as well so you won't necessarily have more stability as a dentist.\n\nI like the work but honestly bc of insane dental insurance crazy patients and basically no rights as an employee; I would actively discourage anyone who asks to not go into Healthcare in general and dentistry in particular. The only exception I would make to that is if you are someone that doesn't care about working conditions, pay, have a thick skin and can't see yourself doing anything else.", "replies": [], "depth": 1}, {"id": "hxswi6f", "text": "Do not become a real estate broker over a dentist.\n\n\nSpecializing in dentistry can fetch 400-$1M. Or more if you're a good business person.", "replies": [], "depth": 1}, {"id": "hy2elc7", "text": "Remember, you after taxes it\u2019ll be 100k\u2026 you\u2019ll be paying off that debt well over 10 years\u2026", "replies": [], "depth": 1}, {"id": "hyait7c", "text": "I work at a public med school and advise students on finances.  Most share the same financial fear and not being able to \"live life\" like their friends or undergrad counterparts, but at the end of the day they get married/have kids/buy houses either in med school or residency and don't have to wait.  They'll also be in a sustainably strong financial position and have the ability to have a balanced life, which I think is less likely as a broker (I was a broker for 12 years and know this).  I strongly encourage you to run a long-term forecast of the numbers.  The debt is only 1 of the barriers to becoming a dentist and I'm aware of the many others that you've already overcome by being accepted into a program.\n\nDM me if you want to talk more about this!", "replies": [], "depth": 1}]