A college sophomore emailed then cold called me looking for a summer internship in commercial real estate.
She’d already applied to some national companies. No luck. So she stopped waiting and started dialing.
She knows her superpower, she loves being a connector and meeting new people. I’m impressed that she wasn’t scared to make the call. She’s going for a job in sales and doing the job before she even has it.
I told her to keep going. The right person will say yes.
If a hungry sophomore cold called you about a CRE internship this summer, what would YOU say to her?
@credealjunkie Can you imagine if San Francisco eliminated rent control?.
What would that unwind look for current residents, what would it look like for development?
@realEstateTrent People under appreciate how much money was everywhere with the tech companies in the 20teens. That was a peak. It’s hard to say that was normal. Office leasing in San Francisco and Oakland has a long way to go.
@jasonc_nc I saw @moseskagan point out that old businesses tend to produce cash flow so owners can give money away without diluting their ownership. High growth companies would have to sell their ownership to give it away. It should be included in the thought process.
@DDrolapas No. They would say in their thousands of data points in their portfolio they always see some vacancy no matter what people try to pitch them on.
I get your pitch though. Especially if it’s a good thing that they move out. But a lender takes a vacancy factor every time.
@stevegarthwaite@CaseyMericle@HealthcareREguy I have a client closing on one of these tomorrow. Grand Slam deal. Corporate seller. He has 35 years of experience, cash to close (even though he is using debt) he jumped on it faster than anyone.
@harrisonfinberg Do you think it will make you dumber and harder to have creative thoughts? This weekend I spoke with friends who use AI a ton and it saves them a ton of time but they said they are now incredibly reliant on it.
The trend continues, big money is coming back (finally)
HSBC Life plans to return to real estate via value add funds.... HSBC is looking at real estate funds again after committing no new capital to the asset class for several years.
@mortgagetruth The person this serves is on the lower end, it will look great until they have more delinquency and problems. There are so many small exceptions that humans can deal with that computers will mis-price or incorrectly accept the risk.