Misconceptions about Commercial Real Estate & Leaving Your W-2 - (Office Hours)

Key Takeaways: Commercial Real Estate Misconceptions: Making money is not just about rent exceeding expenses Commercial real estate investing is not 100% passive Bigger numbers shouldn't scare investors Having the right sales team can help get better deals Advice for Investors: Treat commercial real estate like a business Build strong systems to manage properties Network with brokers and use strategies like mailers to find off-market properties Don't leave your W-2 job too quickly, as it helps with loan qualification Personal Experience Insights: The speaker recently had to restructure his team, reducing staff by using AI and technology First years in commercial real estate brokerage can be challenging, with low initial earnings It takes 3-5 years to become a successful commercial real estate broker Loan and Income Considerations: Banks prefer lending to those with more cash Recommended to have 100% of current W-2 income from real estate before leaving job Consider additional costs like health insurance when transitioning