Its been a while since my last blog entry.
A lot has happened since then.
1. I completed the P90X Program. Its my proudest physical accomplishment and I got into amazing shape in 90 days. So much so, that I was dunking a basketball on a 9.5 foot rim in my polo shirt and khakis. You can view it on the videos tab on my facebook.
2. My partner Tim asked me to be a partner and help run his Metro PCS Store. The store has a soft opening this Wednesday in Pasadena, CA. I've got a tiny equity stake, but its enough to make me a legitimate entrepreneur. All with no money out of pocket.
3. An old friend that I used to intern with, Pierre, brought me on to help him run Click2Asia.com. Since I joined two years ago, we have expanded to San Francisco, San Jose, Sacramento, Orange County, Los Angeles County, and now the Inland Empire. We also are expanding to south Indian speed dating. I train the new reps this tuesday night.
4. Our Elite Matchmaking Service with Click2Asia has also taken off and we are getting great traction. We have secured our first client and are slugging 2-2 in terms of quality matches. We also are implementing an image consulting program to help people with their image and our bootcamp program with Dr Allan has also taken off. We've had 10 people graduate from the program with a 100% money back guarantee and NOBODY has asked for their money back.
5. I've completed the IB Training Program. I'm just nerdy about learning finance stuff and its been great to learn about how the numbers are all calculated. It will serve me well as I progress forward with my business career.
6. I've started Douglas Consulting where I consult people on how to interview. I've just secured my second client. My first, I met at IB Training and got her into JP Morgan. This second client wants to do Operations Research.
7. I've invested a TINY amount, which was all I had, into my first real estate REO deal. The deal had a couple surprises and we will still sell at a profit, but not at the 75% returns we were intially looking at. I'm happy just to get my money back and to be learning from my partner who is a real pro.
8. I've completed the Mastery University Program with Tony Robbins and its changed my life! I've also done a number of other seminars. One of which is with TH Mastery. www.thmastery.com its a health seminar. You'll find some awesome info here about how to ward off cancer and have more energy. Its all about getting on the raw foods diet.
9. I've dated my fair share of pretty women. Sadly, none of them have worked out and I'm constantly investigating whether its me. But for the record, there are a lot of quality women here in LA.
10. An acquaintence has called me and asked me to partner with him to do nightlife promotions. So now, I am a partner with a company called Friction Social www.wersocial.com its targeted for the 27-40 crowd. Its a great lounge scene.
The market has been tough and I'm proud at how I am responding to it by being resourceful and developing new skills. I've also started to hit this threshold where the trust is there so more people are interested in doing business with me. As usual, the money and compensation is always 'lumpy' which makes it hard for things that are consistent... like bills... haha
People have always told me that its not about the destination and that its about the journey. Its never made sense to me, but Tony Robbins says that, 'Its not about the goal, its about growing to become the person that can accomplish that goal' I agree with that. Because good market or bad, money is fleeting and the only thing that remains is my experience and skills. As long as I take care of my health, then I'll have another chance to take a crack at things.
Monday, August 15, 2011
Wednesday, April 1, 2009
Life as a broker
If you had asked me what my life would be like as an agent when I started a little over four years ago, I would have never anticipated where I would be and how I have grown.
Lured to the world of commercial real estate by the big commissions and prestigue of doing the big mega million dollar deals. I thought with my outgoing personality and pedigree background in commercial real estate, that the sky was the limit for me - not exactly.
Admittedly, I have seen some great success in the business. One deal was $8,370,000+ and was my intro to Investment Sales. What an intro! Later, I would continue to close deals, but I would learn how 'choppy' my earnings stream became because I was 100% commission based. You can budget well and live at home, but commercial deals take a long time. After all the splits, even with minor expenses, you can end up underwater depending on how long of a dryspell your in. Another thing that I learned about commercial real estate is that you can be a smart, hardworking guy with great sales skills, but a lot of it depends on the property you are selling. If it is not priced property and you can't manage your sellers expectations down, you get the donut, $0, for all of your efforts. Now as a 'seasoned agent' I really understand when I look at the closing statements of the big payouts to the brokerage's how hard it is to earn that money and how much of it I actually get. After splits with the house and my senior, there isn't too much left on the table. Still, I press on convinced that with my background and work ethic that things will eventually come together. And it will, just need to keep my thoughts on doing the right things and away from worrying about how I am going to pay my bills. Its amazing... something as simple as weathering the storm... seems to be a herculean feat at the moment.
As tough as things are financially for everyone, I realized that finances aside, I am extremely happy. I'm healthy, have my mom and good friends and for the most part, I can still read and exercise. Being tight on cash has made it challenging to date =) to say the least, but I welcome the challenge knowing that when the market turns things can only get better.
Lured to the world of commercial real estate by the big commissions and prestigue of doing the big mega million dollar deals. I thought with my outgoing personality and pedigree background in commercial real estate, that the sky was the limit for me - not exactly.
Admittedly, I have seen some great success in the business. One deal was $8,370,000+ and was my intro to Investment Sales. What an intro! Later, I would continue to close deals, but I would learn how 'choppy' my earnings stream became because I was 100% commission based. You can budget well and live at home, but commercial deals take a long time. After all the splits, even with minor expenses, you can end up underwater depending on how long of a dryspell your in. Another thing that I learned about commercial real estate is that you can be a smart, hardworking guy with great sales skills, but a lot of it depends on the property you are selling. If it is not priced property and you can't manage your sellers expectations down, you get the donut, $0, for all of your efforts. Now as a 'seasoned agent' I really understand when I look at the closing statements of the big payouts to the brokerage's how hard it is to earn that money and how much of it I actually get. After splits with the house and my senior, there isn't too much left on the table. Still, I press on convinced that with my background and work ethic that things will eventually come together. And it will, just need to keep my thoughts on doing the right things and away from worrying about how I am going to pay my bills. Its amazing... something as simple as weathering the storm... seems to be a herculean feat at the moment.
As tough as things are financially for everyone, I realized that finances aside, I am extremely happy. I'm healthy, have my mom and good friends and for the most part, I can still read and exercise. Being tight on cash has made it challenging to date =) to say the least, but I welcome the challenge knowing that when the market turns things can only get better.
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