Hello,
I need advice for my real estate career. My problem is I see possibilities in a few different areas and haven’t decided one to give it my all, another weakness of mine is I read and research a lot, and need to DO more (paralysis by analysis, I know reading and researching is good, but I need to DO more action). Which area should I focus in on and start doing?
Here is my background and options:
I am 28, full time in real estate, I live in CA, graduated from a top 25 university, have my real estate brokers license, have work experience as a loan officer and realtor, have about $70k in cash (but I also have plenty of student loans), have knowledge of both commercial and residential real estate, I am very interested in the opportunities with REO’s.
Option:
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I can find someone (kind of like a mentor) or a company to work to help me succeed in either:
A. Commercial real estate lending (I like and have knowledge in this area, and some people say this is the best option to make the most money in the long term).
B. Listing residential REO’s as a realtor (I am VERY interested, have knowledge, and I hear this can be a HUGE opportunity for the next couple of years, but I lack experience and contacts).
C. Investing in REO’s (BIG opportunity, but I don’t know where I would be able to get the cash or investors to be successful).
D. Residential Lending (have most experience with this area, can probably find a Fortune 500 company to work for and move up the ladder in the long term). -
I can attempt to grow my own brokerage/company in any of these A-D options. This route may range from possible to very tough considering I have most of the knowledge, but not enough experience in some of these areas.
Any advice and recommendations is greatly appreciated. I feel at times I research and keep all these options open as a way to make an excuse for not focusing and succeeding in one of them. I really want to succeed. Please help.