One of our Get Beyond Money guests, Jaclyn Szerdi Morrison, is a millennial woman on a mission. She is a partner at Jewel Tone Interiors, an interior designing firm specializing in commercial real estate, and President of CREW, Commercial Real Estate Women of Fort Lauderdale and Boca Raton. She loves working in the commercial real estate space, but her passion is to give back to the community and uplift women through CREW most of all.
What does it take to get into the Commercial Real Estate industry as a woman in the Miami area?
First, it’s essential to define commercial real estate. According to Investopedia, Commercial Real Estate (CRE) is defined as any property used for business or business-related purposes only. It's solely a workspace instead of your home or living space. If you are a business owner with a storefront that you own, you are in the commercial real estate industry.
In regards to CREW, you have to be in the field of commercial real estate to join the organization. CREW provides educational opportunities and allows women (and men) to network with others in the industry. They have happy hours, conventions, and summits, all dedicated to helping women navigate a male-driven industry.
If you are a woman (or man) looking to invest in commercial real estate, you have to start by doing your research. Fortune Builders have provided a great guide to help you on this journey.
Here are 3 tips on getting started in commercial real estate:
- Understand the Commercial Real Estate Industry – Do your research. What type of property do you want to own? What type of risk are you willing to take? What about finances?
- Look towards the Future - Depending on the type of CRE you want to invest in, you will need to check out the neighborhood. What does the future look like for the community?
- Understand the Financing - This isn’t just about how much money you will make, but the actual cost of the investment. You may have some additional charges. What about electricity, water, and the internet? How long will it take for you to make a profit on your investment?
Speaking about financing, Tropical Financial Credit Union has a team of commercial real estate and property loan experts ready to help you along the way. They will help you get the finances you need to purchase your commercial real estate. Whether you are a woman buying her first property or a seasoned investor, our team is here for you.