What was your starting point in CRE? How did you find your mentor?
[removed]
[{"id": "hnx1ifn", "text": "Graduated in May with good gpa but no relevant work experience. Still can\u2019t land a job trying to break into CRE. Feel your pain brother.", "replies": [], "depth": 1}, {"id": "hnx4c27", "text": "I answered a job ad for a \"real estate analyst\" at a big firm, got hired and turned out to be ok at it.  Found a niche in valuations for property tax purposes and built a book of clients.", "replies": [{"id": "hnye48g", "text": "This, but went mostly toward business vals with a bit of commercial properties on the side. Probably not as much money as selling or some other things, but there's always work. Definitely good if anyone is looking for a career that just kind of \"Cruises\" but doesn't get boring, at least in my experience.", "replies": [{"id": "ho04046", "text": "Define business val? What is this type work?", "replies": [{"id": "ho08rw9", "text": "Businesses come to you and want a value for their business or ownership in the business. You look through their financial statements, go through everything, normalize all of their stuff, then find a value through multiples, income valuation, market valuation, etc. It's a lot like real estate valuation but a lot more involved and in-depth, you learn a lot about many different businesses and their operations so if you find any of that interesting, the work never gets boring.", "replies": [{"id": "ho28eq8", "text": "How do you get into something like this?", "replies": [{"id": "ho2dr40", "text": "Easiest way to start is to search for appraiser trainee or real estate analyst positions, then work at getting you license (AT then AG) through the appraisal institute.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hnx98bc", "text": "An \"in\" helps, there is a lot of nepotism in our industry.  But not a requirement by any means.  This industry also rewards hard work, aggressiveness and having a plan (as do most).\n\nVolunteer at your local NAIOP or other industry group (CCIM, ULI, etc., or all the above). Look for \"young/developing leader\" subgroups.  THey're hugely discounted/free if you play it right.\n\nHelp set up lunch meetings, board meetings, etc. People on those boards are typically industry leaders, and if you impress them with your work ethic and willingness to learn, doors should start opening.   I don't care if you're running coffee, helping with IT, seating people at events: SHOW UP, SHOW UP, SHOW UP.\n\nIn short, be the person to do the job others don't want to do.  **Don't be a doormat: make it clear to everybody around you that your are doing shit work to get good work.**\n\nRead every local and national CRE news resource you can.  Locally, know the players, the properties, the trends, the politics (grossly overlooked, btw).  **When the opportunity is there these folks want you to know your shit and add value, not just have a project.**\n\nDo this for a year, doggedly and without fear, and I can almost assure you that the opportunities will be there.  **NEVER diminish your value or self-worth.**  Those are predators, not mentors.  Learn to know the difference immediately.", "replies": [{"id": "hnyi1g7", "text": "You hit it right on the nail. ULI, NAIOP, CCIM and other groups all have great young leadership programs and events that are cheap when you\u2019re young. Take advantage and show up and you will meet people that can allow you to go far.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hnxfum7", "text": "Bought my first building in a highly leveraged transaction a few months after graduating undergrad. Leveraged the \u201cyoung kid who owns a building looking for advice\u201d angle to build relationships and find my mentor(s).", "replies": [{"id": "hnxp59j", "text": "How\u2019d you manage to purchase a building fresh out of college", "replies": [{"id": "hnyajm0", "text": "Having family money", "replies": [{"id": "hnyb9hw", "text": "Well he said it\u2019s very leveraged so maybe it is his own money he made from other investments, idk whatever it may be I\u2019d like to hear it from him. Family money is the likely option but again i want to hear it from the horses mouth if you don\u2019t mind brother", "replies": [{"id": "hnybr8a", "text": "Sure thing Stern, keep on being stern.\n\nBut me saying it and him saying it doesn\u2019t change if he said otherwise.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "hnyq4nw", "text": "Where I went to college houses were about very cheap at the time (think sub six figures). Was trying to buy something with an FHA. Looked at a certain 4 block radius and sent letters to all the owners. Turns out the guy who owned this 30K SF 5 story building was a few months out from losing it to tax Lien. He did a sellers note for the majority of the PP above the outstanding taxes for a year and I ended up taking some private money for the Down payment. Ended up out of pocket $3K on a $600K purchase price. Renovated myself and put in place a rent roll strong enough to refi after negotiating an extension with him for an extra year on his note. Pretty unreal looking back at it, but fortunately had luck in my corner!", "replies": [{"id": "hnzj4nl", "text": "Again, I absolutely love this \"run through walls to make it happen\" kind of action.  Bravo !!!", "replies": [{"id": "ho0ljtq", "text": "Thank you!!", "replies": [], "depth": 5}, {"id": "ho51am9", "text": "I like this story too because its not like 1 thing happened.\n\nOP took the initiative to go hunting, send letters, etc.\n\nThe property owner took the initiative to be like \"hey I can't pay my taxes, what do I have to lose? lets work a deal here\"\n\nOP can't pay the taxes either lol but he worked and got some lending for it.\n\nIts one of those things where everyone worked through problems and figured out solutions and everyone won as a result vs 99% of folks in either of their positions wouldn't have done that and this deal wouldn't have happened.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "hnziy21", "text": "Absolutely love this !!!!", "replies": [], "depth": 2}], "depth": 1}, {"id": "hnxidk2", "text": "My path to becoming a commercial broker is different than most. I first started selling residential properties and then got into lending. I sold homes and funded loans for about 5 or 6 years. \n\nA guy I was playing hockey with was a partner at a smaller commercial firm in my area and he wanted to go off on his own. Since I was a Broker, he asked me to come be the broker for the shop and in return he would teach me \"commercial\". I have been a commercial broker since. \n\nSince I already had extensive transactional experience, it wasn't too difficult for me to pick up and I didn't need much guidance. The biggest benefit I had was, I was able to \"drop\" my mentors name when leaving messages or calling about available properties. Because other brokers knew him, I didn't have a problem getting information or phone calls back.\n\nI would recommend looking at indeed ads for shops looking for agents. You can also network at chamber or other real estate and commercial real estate events and try and get your foot in the door by forming relationships with others in the  industry.", "replies": [{"id": "hnxsjju", "text": "What state are you located in?", "replies": [{"id": "hnynq6y", "text": "I am down in southern California", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hny3ds0", "text": "I took a real estate finance course at school about a year ago, unrelated to my major, since then have taken an Argus enterprise course and have been studying for my salespersons license. Joined the real estate club at my school like 6 months ago and started trying to get an internship like 4 months ago. Finally landed my first internship in acquisitions in development at a small company, actually starting next week. Look for real estate clubs at ur school and just network as much as you can. Oftentimes you\u2019ll find people leaving jobs or internships that can put in a good word for you if you show them ur serious. I don\u2019t know shit tho I haven\u2019t even worked a day yet in the industry but I\u2019m excited to start. Best of luck!", "replies": [], "depth": 1}, {"id": "hnzc5px", "text": "Have you tried having rich parents?", "replies": [], "depth": 1}, {"id": "hnzvk60", "text": "Network, network, network. I had no strong connections to the industry but through reaching out to everyone I found one guy who knew a guy in senior management at a development firm and made the intro.\n\nFrom there I was able to impress him enough to get recommended for an interview, went through the full process including case study, and secured the job.\n\nPeople say it\u2019s near impossible but it\u2019s not. It took me nearly 6 months of constantly taking people for coffees and asking referrals for additional referrals before I got lucky.", "replies": [], "depth": 1}, {"id": "ho1h55i", "text": "Unpaid internship and networking through my university.", "replies": [], "depth": 1}, {"id": "ho1v4we", "text": "Try networking as much as possible. Find people on LinkedIn who work in the big brokerage firms in your area and ask if you can talk in person or over coffee for 20-30 min on how to join their company or competitors. You\u2019d be surprised how many people will share when a coworker is quitting or when someone at a competitor is quitting and are willing to give you referral. You have nothing to lose by asking, and be you\u2019re own advocate. Don\u2019t let lack of experience in CRE deter you, many positions especially entry level can be completed successfully if you have the soft skills. What market are you in?", "replies": [], "depth": 1}, {"id": "ho28aye", "text": "Network your ass off. Eventually if you are likable your name will get around", "replies": [], "depth": 1}]