Real Estate for Beginners: 3 Steps to Get Started

Aviva Sonenreich (00:00)
If you're just starting out in real estate, the amount of advice out there can feel overwhelming. Today, I'm going to break down into three easy, actionable things that you can do and that you need to focus on.

in order to start your real estate career. I'm going to give you specific actionable steps that you can apply right away. My name is Aviva. I'm the top commercial real estate influencer in the world. I have a company called the Warehouse Hotline where we buy, sell, lease, syndicate and manage warehouses in Denver, Colorado. 97 % of my leads are from the internet and I share that with the world at Aviva Real Estate. Make sure to like and subscribe.

Now, stick around to the end. I am going to share with you a social media hack and step that I wish I would have taken literally day one and it would have saved me years. So let's get into it. Step number one to start your real estate career, get your real estate license. Nobody is going to take you serious until you get your license. So what you need to do,

is the very first thing is research the requirements in your state and course. Each state has a different pre-licensing requirement for hours and exams. So research your state, figure out what you need to do to get that license. For example, I started in Colorado, I need 168 credit hours and passed two tests. I want you guys to comment below what state you're in and if you plan to go residential or commercial.

When I was getting my license, I did it online so I could have the flexibility to work at my own pace and that worked really well for me. I did it with a company called the CE Shop. I have a 35 % off coupon in the notes below. Go grab it there. But one, figure out the requirements for your state and second, get to work. You just gotta do it. Look, I absolutely hate test taking.

hated studying, which is why I went into real estate. Taking the test, passing the course is a very, very, very small hurdle that you have to take to then never have to take a test again. I'm gonna be honest, it took me three times to pass both tests. And now we're at cruise and altitude and I'm thrilled I took the time. I treated taking the exam like a job.

and then I pass the test. So get the test done and you'll never have to study again. And then number three, Mazel tov, you've passed the test and now the real fun begins. Now that you have your real estate license, you can start to talk to industry professionals and look like you're serious, which you are because you wouldn't be here at this point in the video, right? Here's an anecdote.

I get people every day asking me, I want to be a broker, what should I do? Are you hiring?

Everything of the like. I will not talk to anybody about brokerage unless they already have their license. This is very, very common in commercial and residential, but everybody wants to be a seven figure broker, but not everybody is cut out for it and to do the work. You are because you're here with me. the absolute first step to getting taken seriously,

is getting your license. Now we can start to talk to people and approach people in the business and they will know, know, the way I feel about potential brokers who haven't passed or started the exam is how everybody else in the business feels. Take the test, take your course hours, pass, and then let's talk. If you can't commit to the long game, real estate is not for you.

But if you can, you can make, like I said, you can become a seven figure broker, you can make an unbelievable life for yourself. So, pass the test, take the hours. You're gonna get credibility for step number two. Again, go get your license, go pass the test, and then let's talk. step number two, once we've passed the commercial real estate licensing exam.

It's time to get your finances in order. What does that mean? Let's talk about my buddy Jeff. Jeff Bezos ran Amazon in the red for 10 years. So he ran a business where they were losing money for 10 years. From 1994 to 2001, Amazon lost $2.9 billion. They lost $1.4 billion in the year 2000 alone.

Now, their sales skyrocketed, going from $15.7 million in sales in 1996 to $1.6 billion in sales in 1999. They later IPO'd at $18 a share in 1997. And now if you look at the price of Amazon stock, it's north of $3,000. All of this to say,

You can work a few months without getting paid. You're gonna have to do it. Get your finances in order and this is what you need to do. One, safety net. It's not glamorous, but it's real. Save at least six months of living expenses before jumping in full time. Perhaps you have a spouse you can lean on. I would never say lean on your parents because...

Just earn your own way. real estate deals can take months to close. So your six month cushion will keep you from panicking and making desperate moves. You can work a side job. So when I started, I was busing tables at a crappy Italian restaurant and that job carried me until I could replace it with commissions.

Today, instead of getting paid in garlic knots, I'm paid in commissions and I make more money in one deal than I made in an entire year busing tables. But I worked in real estate in the day and I bused tables at night. And so it gave me the opportunity to not stress because I knew I was playing the long game. Your first year in real estate is about building a pipeline of relationships and skills and not getting rich overnight.

This is not a get rich quick scheme. This is a get rich quick over the course of your life situation that anybody can do. having a financial foundation gives you the patience to actually play the long game and succeed.

Now we have gotten our licensing test and we did the hours. We have a plan financially. Now it's time for step three, find mentorship and work. And what does that look like for someone just starting out? So the fastest way to learn is to work directly under somebody doing exactly what you want to do. So.

Actionable step number one, get a mentor. Who do you know who works in the business? Who do know who can introduce you to someone who works in the business? Time to get social. How can you provide them a value in return? It's time to get comfortable getting uncomfortable. And the first step is to reach out within your immediate network. Maybe your mom's, ma, ja, and buddy.

husbands in commercial real estate. Time to pick up the phone and talk to them or email them but I suggest picking up the phone.

You want to start connecting the dots of who might be hiring, how you can get your foot in the door. Please be respectful of people's time. Whatever you do, do anything in your power to make this worth their while or they will not take the time, period.

Don't just ask for free advice. Position yourself as someone willing to work hard and contribute and let them know that their time sharing with you is worthwhile. Now, if you don't know anybody in the business, that's okay. Time to hit LinkedIn.

A lot of smaller brokerage firms that are growing will be hiring and this is a really good way to start in the business. You don't have to be at the top brokerage day one. Believe me when I tell you, the brokerage you decide to work for is not going to tell you how successful you are. Everybody thinks that

their brokerage is gonna be the make or break. No, it's your action that is the make or break. So I wanna see in the comments if anybody's tried to get a job in real estate on LinkedIn and what has worked and what hasn't worked. Now another really way to get your foot in the door, specifically in commercial real estate, but also in residential is to essentially look up every commercial real estate brokerage in town.

maybe the top 10, 15, 20, call the front desk, ask to talk to the managing broker. This has to be done via phone or you will be ignored. The managing broker knows what you're doing and you are trying to get an in-person interview with them. Get your interview, pick up the phone, tell them who you are, what you do. You have your license, you have your financial plan, you want to work to make your own way in the business.

Can I meet with you? They know what you're doing. They know you want a job. This is how we court each other in commercial real estate. You're gonna get a million no's. And this is normal in real estate. I eat no's for breakfast with my cheerios They're low in protein, but all you need is one yes. So you're calling every brokerage in town, asking to talk to the managing broker, asking to meet with them, getting an in-person meeting.

and then selling yourself dress to impress please Now, things to consider. If you can get in with a successful broker as a mentor and work really hard under them, provide value, prove your worth. They will hand you deals, right? Brokers like myself who've been in the business and older, there's a lot of...

The median age for a commercial real estate broker is 55 years old. We get deals put in front of us every day that we say no to because they're too small.

Find yourself a broker who is big time.

provide them a value and they will get these small deals handed to them. And when they don't want them, they're going to give them to you and you're going to close them and you're going to pay them a referral fee and you're going to watch your pipeline grow. This is a huge opportunity in this business and it's a way for you to start making money, start making connections, start making contacts and even just understanding how to transact because that is an art form in and of itself.

Absorb everything you can under mentorship. Go on property tours, sit in on client calls, learn how brokers structure deals. In six months, you're gonna learn more doing deals, jumping in with two feet than you ever could on your own. So.

To recap, the three steps you need to take to start in your real estate career. One, get your license. Two, get your finance in order. And three,

Find a great mentor. And here's the bonus tip that I wish I knew. Day one, start talking about real estate online. You don't have to talk about what you sold or what you didn't sell. But if you want to start selling houses, start talking about houses. If you want to sell hotels, start talking about hotels. You would not believe how impactful it is to see when people see you talking about a topic.

over time. They assume you just do it. This is powerful. And after years of doing this, it works. Believe me.

if this video helped you in any way, please drop a comment below telling me what step you're gonna take first in your real estate career. Please subscribe and send this to somebody who needs to see it. I share weekly tips on this channel to help you win in real estate. See you next week.