Thread: - Best Way To Break Into Real Estate? -

Hey guys,

Things have been going super well for me and career opportunities are coming at me pretty fast. Really exciting, but also a bit nerve racking. Many of them could take me in completely different directions.

I have made a great connection with a developer who is willing to pass on my resume to headhunters and friends alike (headhunters regularly approach him as he is a well known figure in Toronto development). He said he knew of some Analyst positions and thinks he can help me get my foot in the door. My experience so far, at least in my area, is that real estate development is a bit of an 'old boys club' and can be tough to break into. So with his help I'm hoping I can create some opportunities

I don't have any real experience in the industry and I don't have a background in finance. I have the opportunity to take some RE finance courses at MIT this summer which I think I will act on if I get a job or not, which is also exciting.

My question for everyone is whether or not an Analyst position would be the best position to start at in order to learn the ropes? I learn quickly and would love to be turning my income around and making smaller investments, and eventually go off doing my own thing, etc.

I just think real estate, and the build environment, is super exciting. I love construction but don't want to be a builder. I love architecture and design but the path to becoming an architect here in Canada is super long with little reward (long hours, low pay, expensive/long schooling). So the business side of things in development seems like it would be a good fit for me. I am great with logistics and wearing many hats, dealing with people, and with numbers.

Could anyone give me any guidance? Should I try to go it alone and start small? Should I go the RE investment route?

I know there is a lot of money to be made in development and would really like to get some experience in the field.

Any perspective would help.

I am/was in the same place as yourself not so long ago! I've found 3 ideas that have helped me tremendously;

1) Find a mentor! Someone who has reached the level and sucess you aspire to reach. You don't have to work for him, but someone who can pass along the high's and low's, the knowledge, wisdom, etc...that he/she went through to attain their sucess. Heck, I found mine with a Google search for real estate agents who owned multiple real estate investment properties themselves...and he's been fantastic!

2) Take a RE Coaching program. I personally took Robert Kiyosaki (Rich Dad, Poor Dad guy) 6 month coaching course and learned a tremendous amount and made some excellent connections. The materials themselves were foundational for becoming successful in business, and especially in real estate investing.

3) Find a RE investment club in your area. They usually are full of all type of investors, young and old, wealthy and broke, and from all realms of real estate investing. Many of them all might be a mentor and/or offer some sort of coaching/mentoring program. The one in my area has an informal meeting once a month for anyone to show up and "meet and greet", exchange business cards, and see what everyone else in your area is doing.


I will give a word of caution, there are ALOT of coaching/mentoring programs out there that give little to no investment education...they've become "wealthy" by the registration fee's and not completely by their investment success. So do your research, ask others, and if they become too "pushy" then find a different route.

Just my $.2

^^^^ that's solid advice.

Now I'll give you the route I went and the pros and cons.

I started in commerical RE as a Junior Broker... turns out Im more of a residential guy. Commercial is all numbers and business decisions where residential is a lot more personality/emotional driven.

Rather than finding a very good younger mentor with a great track record I decided to just learn by doing and see where it takes me. I've definately learned a ton on my own, but I still find at times wondering if having someone to model myself after would have been a better decision. There is no substitute for doing but just like being a rookie in pro sports, sometimes it's better to learn from the bench until you are ready for big mins.

Rule #1.. don't watch real estate tv shows. They are the furthest thing from real world real estate.

I know a few developers and they all agree that a development's money is all made in converting the zoning and selling. The actual construction is not where they make their money, contrary to popular belief. They need the physical construction to keep the contractors happy and fed. But the developer is actually paid by how well and quick they can convert the land into something that they can sell. The faster they can convert and build, the less money the have to expense.

Originally Posted by SouthFloridaRealtor

Rule #1.. don't watch real estate tv shows. They are the furthest thing from real world real estate.

Strong agree. I do some property management of my own properties and it is nothing like how they portrait it to be. Sure you can renovate and raise the value but they don't tell you about the headaches and all the defaults. As well, in the shows, a day passes and they get a building permit. In the real world, be prepared to wait and wait and wait, unless you know people.

It's not really about "Breaking" into real estate. It's a numbers game like every type of sales. It's about how many people you know that could be potential clients. Starting building a database even BEFORE you get your liscense. And start studying and gathering information from your target population, also called your 'Farm'.

Good luck! And get farmin'

Guys I'm not really looking to go in to real estate sales. I want to work in development/investment.

But, as life throws me a curve ball, I may be working in our nation's capital in a month... Depending on election results.

after reading your posts, you seem like your all over the place doing things with a lot teetering currently

Interesting info... always been interested but didn't quite know how to "break in" to it without being scammed 1000 bucks for some course.