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25A - What's Next?


Step 1: What's next for my firm and I is targeting new markets. As of now, we just operate in the south east. In the next 18-36 months I plan on reaching out to more markets and will start by targeting the mid west and California first. 

Step 2: Interviewer number one: Suggested that I stay within my SE markets in which I specialize in.

Interviewer number 2: suggested that I branch out of grocery anchored shopping centers and start targeting other products such as office and industrial.

Interviewer number 3: agreed with my expansion plan. 

Step 3: Based on my own expectations and the feedback  I have received from customers, I plan on expanding into different products such as single tenant net lease assets. 

Another thing that makes sense to my venture going forward will be to recruit new agents. By doing this, I will be able to to earn  more commission and do more deals thus beating out my competitors.  

New Market.

Step 1:The radically different market I will target is a different type of consumer. As of now I am just working with investors with assets that are worth 5 million dollars plus. Going forward I will start targeting investors with assets that are below 5 million dollars. 

Step 2: By doing this I will expand my footprint and be in contact with much more investors. 

Step 3: Adaptions I will have to make are being able to work with emotional investors as opposed to institutional investors. 

Step 4: What surprised me the most is the how different the private buyer pool is than the institutional buyer pool. 

Comments

  1. Daniel ChavezJuly 26, 2020 at 11:21 PM

    Hi Bryson,
    Great post! I think you included a lot of detailed information about a current market and a possible new market for your business venture. I think expanding your business into different real estate markets outside of the southeast could prove to be very beneficial. As for a possible new market, targeting assets valued less than 5 million could also be very beneficial and allow you to grow your business faster.

    ReplyDelete

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