Trust me when I say Real Estate is NOT a part time job. I work with buyers and sellers in 49 states and I've heard every complaint out there. I do Relo so I deal with the agents and the transferees all day long. Most of the time the complaints are that the agent "isn't available when I need to go look" Or the "agent is to busy to show me something" Or "the agent won't get back to me quick enough." So unless you can get up and leave your full time job or take phone calls during the day, then part time won't cut it.

Sure, if you don't expose yourself then not many people will be calling you anyways, but if you really want to get yourself out there, it needs to be full time.

Soundproof Condos, let me repeat that, Soundproof Condos !!!!!!

I was looking in the New York treads the other day and there were a lot of how to soundproof condos or where are the soundproof condo questions. Not one agent was positive on how to soundproof condos and not one agent had one listed. See where this is headed, obviously there is a market for soundproof condos or soundproofing conversion consultants/know where you can get a conversion loan persons. It's new territory.

Now as I stated in my reponse to finding soundproof condos I am sticking with my advice to start wherever Regis Philbin lives since I think my reasoning is dead on.

Anyway I'm not in the profession but I do think I see where someone on top of the soundproof condo market in this economy might have a huge advantage.

Just my 2cents, Dunes

Hey Steven.

You are going from Finance into Real Estate, depending on how much you really want this may very well be a great transition for you.
My opinion on your situation is this.
Real Estate is not part time, it might be somewhere in the suburbs if you are a suburban house wife or a stay at home dad, but not here in the City. You mentioned doing rentals on weekends and evenings. What if someone calls you during the morning or they can only see something on a lunch break, what are you going to do then?
There is a strong possibility that more than half of people the people who would come to you for help, you would have to turn down because they wouldn't fit into your 7 to 7 corporate job.
And you want to work in Commercial Real Estate. I'm not sure how doing Rentals is going to help you. Commercial and Residential are two different beasts and so is the schooling and education for both.
You can lease a rental in an hour, and you can take anywhere from a year to 5 years to close on a commercial building. So when would you put in your time, when everyone on your team is gone home after a long day of work?
I think you need to seriously think about this...Finance or Real Estate, it's not both, you can combine finance into real estate and be comfortable dealing with a wider pool of educated buyers and sellers, but doing one and the other is foolish.


Good Luck to you,
~Alen

Steven, first get your real estate license. There are companies that offer night and week-end courses. That will give you a sense of what you are getting involved in. Having a career in finance is a logical extension of a real estate license and would make you more informed as an agent to assist buyers or sellers.
Before becoming an attorney I worked for 11 years as a real estate broker - the first five in luxury rental apartments. It takes a great deal of time; shoe leather; and determination.
A recommendation I have for you is that Weichert affiliates offer on-going training for their agents and I recommend calling a local office for further information. Additionally, they have training on-line which might be useful to you since you are working full-time.
Should you achieve your real estate license but find you can not put in the hours necessary to work in the industry but still wish to receive referrals for business, I can recommend a company that allows you to "park" your license without having to pay the dues required in the larger firms. Please call our office for further information.
Best wishes and good luck.

Hey Steve, Happy New Year first of all. The best advice I can give you is if you believe in yourself, you can do anything. I started in real estate part time several years ago (although the market was much different) and sold 15 houses my first year. I stayed part time for another 2 years after that, did great, and quit my full time job. I've been full time for 4 years now and got promoted to manage my office. I recruit and train new agents. What you need to do is find a good office to work with. Someone who has a real training program. Good luck and call me if I can help in any way.

Ralph Windschuh
Century 21 Princeton Properties
631-467-0009

After reading the two responses, I would like to give further details to maybe get a more direct-type answer.

I am not trying to jump into real estate as a part-time job to make money by putting a couple ads up on Craigslist and hoping to get a bite. I understand that the rental market is pretty crappy right now, my doorman building just knocked a lot of $$ off my new apartment I'm moving into on Feb 1st due to low demand.

What I am trying to do is get some exposure to the real estate market in general through part-time rentals (such as in buildings near my area)and hopefully get a better understanding of the whole process. My eventual goal is work for a commerical company that owns building, assesses properties and makes big moves, however I understand that once I have my MBA/JD that type of role, coupled with my finance experience, should prove worthwhile.

So.... how can I get the most out of being a part-time agent? And yes, I understand calling people routinely at 9pm to talk about prospective rentals isn't feasible. Though if I am just trying to do a few listings and eventually grow my capacity, should this work? thanks

I don't want to sound to discouraging, but real estate is not a part time job. Getting your license is one thing, but then the real work starts. Even though you have already a basic understanding from working with your broker friend, where would you get the time to preview apartments? You have to physically see what's on the market, you have to be there to show apartments at the timy your buyer or customer wants. I work nearly every day, long hours, about 80 hours a week. That might be a bit much for most brokers in general, but you need a lot of time, advertising, networking, pre viewing and showing.
If you really want to give it a shot, maybe the best way to start is in rentals.
in any case, good luck.

Steven,

It sounds like you have given this much thought and are heading in the right direction. Jumping into the real estate arena, at this time, is going to be difficult at best. Doing this as a part time undertaking is reasonable and illustrates an understanding of the status of the real estate business at this time as well as your personal needs.

There is a nice marriage between financing and real estate that may be beneficial. Steve, where things fall apart is thinking you are going to be productive in real estate between 7 & 9 PM. The absence of dinner time, travel time, personal time etc. falls short of being reasonable. If you think people are going to be receptive to your evening calls after 9 PM, you are sadly mistaken.

The idea of working with an experienced agent(team) in a mentor capacity is another plus for you. But it isn't going to be easy finding someone to invest in you at less than part time.

Best wishes and good luck making it happen.