Should I become a real estate broker ??

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tjstogner
Posts: 75
Joined: Fri Apr 13, 2012 9:28 pm

Should I become a real estate broker ??

Post by tjstogner »

An Indian friend of mine would like to involve me in a business venture, selling real estate. However, although proficient in sales, neither one of us have any of the experience or licensing necessary. The goal is to start with residential, but ideally to be working with corporate real estate, not only here in NY, but in India as well (he knows a ton of people there). Before I get myself in too deep to anything, what are your thoughts and opinions?
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Rob5TCP
Posts: 3812
Joined: Tue Jun 05, 2007 7:34 pm
Location: New York, NY

Re: Should I become a real estate broker ??

Post by Rob5TCP »

How much experience do either of you have running a small business. Can you start part time (don't give up the day job)?
What are you potentially giving up in your current career?
Can this be done from home - with minimal expenses?
In NY, which is a very tough market, how would you get listings (Craigslist)?
How would you get buyers? Do you have a specialty niche
or good contacts?
Draw up a realistic budget for the first 6 months or year.
Where is the money coming from. It might be quite awhile
before income (cash flow) start to come in. How do you keep
it going?
How old are you - do you have dependents?
A lot easier at 25 and single, then 45 with a spouse and 3 kids.
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