Greetings ACP AdvisorNet Community! An ACP Veteran Protégé recently asked this question about the commercial real estate business and any feedback would be greatly appreciated;
"The commercial real estate field is something I am heavily considering pursuing. Do you have any contacts in the field who might be able to weigh the pros and cons of going into this type of business? What are the first steps I should be taking in order to be set up for a successful career in commercial real estate?"
Answers
A few thoughts about the Commercial Real Estate arena.
A) The market for selling land and such is in flux, heard firsthand are offers to sell homes (presumably commercial holdings, also) for forty bucks, while some companies charge something like 8 percent. Beware. The internet may make your industry disappear, despite legacy status.
B) Location, location, location. The city or region you operate within will have political dynamics which are not initially visible, hampering or augmenting commercial real estate moves and sales. My beloved hometown is both a giant opportunity, yet remote government has decided to become what can only be described as punitive towards growth, so good people trust, plan, work together, only to find a decade of effort vanish as we sit out boom-bust economic cycles.
C) Regarding my beloved Central Oregon, it is utterly, inconceivably novel, but not knowable without a little study. Considerable eco subterfuge, or guilt government, to coin phrase.
There is a vast region of land on NE City edge, which was given for one dollar from County to City for use as a public good, like a R&D university. Skipping over some serious corroborating backstory, those on the SW side enjoy a remote government, media, advantage, so years of everyone working towards this NE plan for the good of all, traffic, economic, cultural, education, family wage jobs, delayed until nobody cares much anymore. A giant opportunity should a commercial real estate company seize upon the rather weak gaming so easily neutralizing (actually, inverting, reversing, turning inside out) the local citizens will to expand in the NE direction- into the local desert, with nothing, nothing, to harm, buku water well underground, all utilities from this side.
This example is provided for a few reasons, example, opportunity for a mentally muscled type, perhaps yourself, Bend, Oregon is small enough to still be able to stand and deliver truths to City and Council personally, live. The City (I love many of the public employees) cannot barely sell any land they got for free, suspiciously so. In every problem, there is some kind of solution, perhaps for you. It is also an oasis of many kinds locally. A resort type town without the environmental, geological, limitations, but a giant dollop of false political characterizations. If you come here, look me up, I can hook you up.
As of Nov 19, haven't heard anything further on this: has this individual had his/her questions satisfied?
Thanks. JS
Likewise from me: 34 years in commercial real estate, specializing in retail store leasing, shopping centers etc. Would be more than pleased to speak with this individual.
JS
This person is taking a good first step. Talking to people who have had successful careers in the industry will help them navigate the various routes to break into the business. I would be happy to have a phone conversation with this person.
Thank you all for posting your answers and professional insight to this question. We have relayed all the information we have received from you to the Veteran and it has been extremely helpful!
Semper Fi,
Erik S. Schlacter
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