Yesterday I went on my first field trip since high school. I skipped my statistics lecture to tour properties in the bay area (including Salesforce Tower) and interact with real estate students and professionals. From this I learned that there are levels to the ecosystem of real estate. I was familiar with residential housing, especially financing methods and agents. Going on this tour, I learned that commercial real estate is its own beast. It has contractors, subcontractors, architects, 1,000,000 ways of financing, marketing, legislation, and complex negotiations and auctions. The only certainty on such large projects was that something would go wrong.
I’m mainly writing this post to share the unexpected pleasure this experience brought me. But I’m also underlining the importance of taking frequent, small risks when the odds are not in your favor. Every other property tour I’ve been on bored me to tears. So remember, improbable outcomes lead to outsized rewards!