First Vice President @ CBRE commercial real estate agent - retail landlord & tenant representation, sales and auctions. Sharing my journey. Opinions are my own.
@danghentschel
*whispers* in 7th grade I didn’t know what double space meant so I manually went word by word and double spaced every word of an 8 page essay
Spoke with a home builder today - they’re selling the same house for $900k that were $575k 5 years ago, many all cash
Where are these people getting their money from?
A large Burger King franchisee is filing bankruptcy - that’s a brutal blow for the net lease investor that paid a 5 cap expecting 20 year cash flow at 2x market rent
Commission transparency
$50k commission = $15k cash take home
House split = $25k
Taxes, 401k, insurance, misc deductions = $10k
Take home = $15k
It’s hard to make a lot of money in brokerage
This has been one of my most polarizing posts
Successful people: this post makes sense, no issue here
Unsuccessful people: name calling and age shaming (I’m 32)
Realistic day in the life of a real estate broker with a 1 year old
4:45 - wake up, contemplate life and immediately stress out that every deal is dying
4:45-5:15 - get baby stuff ready for day care, pray baby doesn’t wake up
5:15-6:00 - only quiet time of day, pray baby
Was just ranked top producer across all asset types in the Cleveland office
Not meant to be a brag, but feels good to see the vision play out after eating dirt with 0 deals my first 2+ years in my career
Cleveland - check out my client Cloak & Dagger’s new location in Tremont! They have the best craft cocktail and vegan menu in town (certified Moss approved). Really cool peeps and great vibe.
I’m clearly nowhere near
@BobKnakal
’s level, but this story genuinely has me nervous to share my personal brand given I’m employed by the top publicly traded commercial real estate firm
I don’t think I’ll ever get over this
Thursday: 4:45 pm “bank said too late to wire”
Friday: 9 am set meeting at bank at 2 pm to wire
Friday: 1:30 pm buyer filing for divorce
As a father to an 11 month old, the story of the murdered parents protecting their 10 month old twins hits so hard
My thoughts are with all my friends and colleagues in Israel 🙏🏻
🇮🇱🇮🇱🇮🇱
@crekdawg
Kendall sorry but you’re about to get roasted here - they’re either working on their business or spending time with family
I’d start with an intro email
Just finished a couple tours of Bar Louie on West 6th today. Such a prime location for a future Tenant to take advantage of in the heart of downtown Cleveland 🎯
I’ve been a broker for 8.5 years
228 lease deals
186 stores still open / opening soon
41 stores have closed
81.5% success rate
1.5 M square feet leased
Brokers on LinkedIn:
“Such an incredible experience working with all parties on this deal”
Brokers during the deal process:
“I hate everyone and hope I never talk to these people again”
Month 1 as a broker I missed a meeting someone drove 2 hours for
I didn’t put in my calendar – I thought I’d easily remember
The next day I drove 2 hours to show how apologetic I was
I’ve been OCD about my calendar since
Today I learned it’s better to stay in my corner and post my deals and not share career advice
While the dopamine rush is awesome, there’s too many trolls out there
Multiple calls with Rite Aid owners this week
My advice:
Seriously consider the reduced rent offer
Every one of these deals is above market rent, but the reduced rent may outweigh these extra costs to replace the tenant:
Broker fees
Tenant improvement allowance
Maintenance