Multi Family and Commercial Real Estate Broker here...

DubsFan

DubsFan

Well-Known Member
I actually just stumbled across this thread after being on RIU for almost a year now.

I've been in banking, lending, insurance and more specifically Commercial Real Estate since 1995. If any of you guys or gals want to chat real estate feel free to PM or ask here. I tend to feel most in my industry suck ass so you will hear me rip on my shit head colleauges for their lack of industry knowledge and poor ethics. I'd like to think I'm still standing because of my character, product knowledge and persistance. I'm also a "non brokers broker." I routinely advise my clients to cash out and invest in a more appropriate vehicle when the need arises. It's not just about closing the deal for me. I think there is a reason many of my clients have been with me most of my career and close a minimum of 3 transactions a year with me.

What does someone in Ca fresh out of prison get in order to land a career? A a real estate license. LOL <--- this is a problem.


I have been running my own brokerage in SoCal since 2002 but have been an independant contractor since 1997. I have 6 agents that sell residential real estate so I'm pretty hip to that world too (resi is simple).

In the past few years my company has closed transactions as a mortgage or real estate broker on the following property types.


Self Storage (the nice stuff, class A)
Mobile home parks (2 star and up)
Apartments (5 units to 97 units)
Land
Single Family residences
Broken Condo projects (a developer has sold 150 of 190 units and a client of mine would buy the remainder in bulk at a discount)
Retail
Office

I'm sure I'm leaving something out. The only income producing real estate I don't do much with is Marina's and Hotels. Thanks for reading.
 
DubsFan

DubsFan

Well-Known Member
windstraw said:
sounds like you got your head screwed on streight and balls to the wall. good job dude
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Everyone has a turning point in their life. The question is what do you do with it. In 1994 I almost killed myself and a buddy. This just weeks before my 18th birthday. Less than year later I was working for a fantastic company that moved me from NorCal to San Diego at age 18.

I have my faults but when it comes to my 9-5 I try and offer as much info as I can to those around me about what it is I'm knowledgable about.

Give, ask and you may recieve. The "may" is the bitch. ;-)
 
Jeeyah

Jeeyah

Well-Known Member
6 unit $249900 9 unit $324900. Just got the expenses today, haven't crunched any numbers. They're kind of shitty with low rents. lol
 
DubsFan

DubsFan

Well-Known Member
Jeeyah said:
6 unit $249900 9 unit $324900. Just got the expenses today, haven't crunched any numbers. They're kind of shitty with low rents. lol
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Not to dis our resi brothers, but they really need to learn what crunching numbers means. Many have never heard of a cap rate yet it's everyday discussion with multi family and commercial brokers.

What or where exactly is New England. I follow sports and know where it's at, but is there a line the makes it New England.
 
GrowTech

GrowTech

stays relevant.
You say you're in SoCal... please hit me up as there might be an interesting business deal we can work out :)

Looking into warehouse space... and lots of it!
 
Boneman

Boneman

Well-Known Member
I'm not in SoCal but am interested in some acreage with a house, running stream with fish and good ole peace and quiet. Anyone?
 
Big P

Big P

Well-Known Member
Boneman said:
I'm not in SoCal but am interested in some acreage with a house, running stream with fish and good ole peace and quiet. Anyone?
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hey bone thats sounds nice, thats gonna be my next move acreage and peace


but i like the stream with fish idea too



you got any other good ideas to add to the list?
 
Boneman

Boneman

Well-Known Member
Big P said:
hey bone thats sounds nice, thats gonna be my next move acreage and peace


but i like the stream with fish idea too



you got any other good ideas to add to the list?
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A 2000 sq foot greenhouse and a moat around the property that is full of piranas :hump:
 
Jeeyah

Jeeyah

Well-Known Member
DubsFan said:
Not to dis our resi brothers, but they really need to learn what crunching numbers means. Many have never heard of a cap rate yet it's everyday discussion with multi family and commercial brokers.

What or where exactly is New England. I follow sports and know where it's at, but is there a line the makes it New England.
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I have the cap rate you douche.

You're a fucking idiot. I didn't want to be specific since its rollitup. :wall:

What a fucking rude ass comment. You're probably a fucking cop you cocksucker.
 
DubsFan

DubsFan

Well-Known Member
Jeeyah said:
I have the cap rate you douche.

You're a fucking idiot. I didn't want to be specific since its rollitup. :wall:

What a fucking rude ass comment. You're probably a fucking cop you cocksucker.
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I said "Many." Caps rates are not "had" either. They are determined by you and the market.

I wasn't trying to be a dick and I'm definately not an idiot. Real Estate isn't about just houses and I feel that if Resi brokers were more educated in all property types and versed in income analysis they would be more successful and have better product knowledge.

How me being rude in your opinion makes me a cop I do not know...

If you couldn't tell, my comment wasn't directed at you. The context of my comment implied "others." By you having two 5+ unit listings tells you know more than the average broker. And how the heck would I know you're a resi only agent when all you've told me is that you're a commercial broker with apartments for sale, not houses.
 
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