My Plan B------> Real Estate

Discussion in 'Pfizer' started by Anonymous, Apr 28, 2014 at 3:22 PM.

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  1. Anonymous

    Anonymous Guest

    1) An MBA from a "no-name" program doesn't guarantee you jack squat. The streets are loaded with downsized pharma reps and managers with MBAs. Which leads me to #2
    2) The only industries that I see recruiting laid off big pharma reps and managers are small pharma and contract sales companies. Fortunately for us, one contract sales company is peopled andy led by a large number of Pfizer Labs expatriates.
     

  2. Anonymous

    Anonymous Guest


    This is why this topic is "MY PLAN B". When lay offs come and they will, those who made the effort to produce income outside of pharma will have less stress and will not have to take the first job that comes along.
     
  3. Anonymous

    Anonymous Guest

    I concur. But I can think of at least 6 reps and managers that were within spitting distance of our Hall of Fame that haven't found anything after our last big cutting. Pfizer is still listed as "current". Bottom line is that our culture punched the heck out of initiative and entrepreneurship. You won't find many takers here
     
  4. Anonymous

    Anonymous Guest

    Well I'm working on combining 4 side by side lots in my downtown area business district. If I can get them all under contract they make a desirable location for an apartment building. I can either resell the whole thing while under contract OR close on the properties and get zoning approval to build 40 units and sell that package. I'm hoping for a 400 to 600k payoff.

    Don't undervalue land deals and flipping contracts.
     
  5. Anonymous

    Anonymous Guest

    You play your cards right, you should be able to make more than 600K.
     
  6. Anonymous

    Anonymous Guest

    Re: My Plan B------> I Suck Cock And Lick Ass For Profit

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  7. Anonymous

    Anonymous Guest

    How could he make more money? By actually building the apartments? Unless he is that uber rich pfizer salesman who happens to have 20%-30% of a multimillion dollar construction project I don't know what his other play is here.

    I think that is why he referenced flipping the contract. Get it under control with a study period then sell out to a bidder who can buy low before its encumbered by plans or proper zoning. This adds much value and then build the project to get more value.

    Each of those last two steps take closing cash, time and money to hold the land while it works its way through what I presume will be a maze of city red tape. If this guy can make a half a million just getting sellers to sign a contract and flipping it to a developer than that's almost not time or effort put into a major haul.
     
  8. Anonymous

    Anonymous Guest

    This thread has been an really helpful. I'm embarking on owning a CVS. It's actually a really good deal. You build the building and they lease it back from you for 25 years and take care of all the maintenance. I bought two pieces of land and tore down a house and stinky run down car wash. It's at a nice intersection that's in an up and coming area.

    I had to sell all 5 house I own to get the cash for the land and build costs. 1.9 million to build out the structure and its on a 20 year note. CVS signed a 25 year lease for 395k a year. After my debt service and insurance I will make 60% take home monthly on what they pay me.
     
  9. Anonymous

    Anonymous Guest

    If you're telling the truth, this is a great success story. The lessons that I took from this are a) it takes $$$ to MAKE $$$$$. b)it takes strategic thinking and foresight to MAKE $$$$$.

    I don't know about where you live, but where I am, strategic thinking and innovation has been beaten out of our work-lives. As a result, we've (from my boss's boss on down) turned into marketing droids that collect signatures and schedule lunches, kidding like bobble heads while our managers regurgitate corny recommendations and "advice" during field rides.

    The thought of risk-taking or coming up with innovative ways to make $$$ curdles the yogurt!

    As a result of THIS, many here are left chanting the same mantra: "all I need is __ more years, and then I can retire to a life of luxury and leisure."
     
  10. Anonymous

    Anonymous Guest

    Wrong, as a DM, I have more freedom than I had as a rep. I only spend 1/2 day at most with my reps, usually take them to lunch. I hate doctor lunches and avoid whenever possible. I have no computer time clock on my day. Now I do have to put up with the bs from upper management and try to shield my reps from as much as possible. But I'm a dinosaur among DMs, most are young aggressive assholes who think they are going to be CEO one day. Won't happen.

    I make more and get to work from home often. The rep job is nice, but DM job has been better. Not sure you can do it my way anymore, I got into this DM thing way over a decade ago.

    About ready to hang it up with this industry, too robotic anymore. Probably work part time somewhere, shoveling shit or something else with more dignity than current day pharma.

    Good luck to all!
     
  11. Anonymous

    Anonymous Guest

    Unless your RM is a total Pfizer blue tool like I had. Not going to get into the BS this guy did to monitor us, but it was fkn ridiculous!
     
  12. Anonymous

    Anonymous Guest

    Yeah becoming a DM opens up so many other doors. You are mostly home so other work options are great. I'm a DM and I manage most of my real estate now that I'm home the last 6 or so years.

    I'm looking into taking a contract pharma DM spot locally since none of my team works in my home town. I'm just trying to figure out the background check. How to convince them I left and not have big P know I'm taking a new job.

    One years saved up contract salary can get me a condo free and clear in my rental market,
     
  13. Anonymous

    Anonymous Guest

    Flipping a new house in a week. Buying for 230k renovating for 75k more. Reselling for 375k. Found an ugly house in the best hood in town. Just got lucky. This one makes my year.
     
  14. Anonymous

    Anonymous Guest

    This thread used to be full of dreams and updates. Now, nothing.
     
  15. Anonymous

    Anonymous Guest

    What do you want to know? My mailbox is still full of checks and the tenants pay the few mortgages I still have. The rental market is strong and still receive 10 calls a week from prospective renters even if I am not advertising. I have a list of over 50 potential tenants and I don't have the openings for them. I am 100% full and have not been under 95% full for the last 2 years.
     
  16. Anonymous

    Anonymous Guest

    So I have 3 paid for mulitfam properties and I have found a new 4plex that should bring my about 5k a month in rent. I'm into it for below 3oo and it will be worth 650k after I'm done. I see some great ROI here but I'm torn about selling one of my other properties to make sure this new one has no debt OR to just keep a balance on the 4 plex and not sell one of my other properties.

    Am I crazy to not want any debt and does this make me miss out on opportunities?
     
  17. anonymous

    anonymous Guest

    Good stuff here. This pharma thing just doesn't do it for me. No challenge and countless conference calls, sharing success stories bs and everything else that has nothing to do with actually selling or putting money in my pocket. Been in the pharma game for over 7 yrs so not sure what I'll do next. Money is decent I can't lie but the job itself is taking its toll.
     
  18. anonymous

    anonymous Guest

    I was in the pharma game for 17 years. Early days were fun and I enjoyed the job. In recent years I agree with everything you experience. I stayed with the job for so long because the money was good but really liked the free time to build a real estate portfolio. I built a business on their time that now supports me . Everyone who wants out - take advantage of the free time. Many reps I know use the time to play golf, coach sports, go to the gym at 2:00. That's all fine but they will be working for a company for the next 20 years. I did not spend their time having fun but I no longer need their paycheck. It is a choice. Looking back pharma was a boring career choice but not many other jobs would allow me to build my portfolio while they paid me.
     
  19. anonymous

    anonymous Guest

    I'm hitting close to the 10 year mark in the industry and I can relate. I've always had a side business. This thread is probably the best thread on this board no doubt. As the years go by the useless managing by your DM and annoying colleagues gets old really quick. Good advice above. Start a business as soon as you can be your own boss and always have something to fall back on.
     
  20. anonymous

    anonymous Guest


    Is the $5K a month the total of all your properties or just the 4plex?