The Great Recession was the best thing that ever happened to my career - by Daniel Gardner

Conventional wisdom says 2008 was the worst possible time to get into commercial real estate. Looking back, it was the best thing that ever happened to me.

At the time, I was working as a commercial property manager. I had just met a great woman who eventually became my wife. I had a salary, benefits, and an employer-matched 401(k) plan. While working my 9-to-5 job, I attended graduate school at Brandeis University from 6:00 to 9:00 p.m., Monday through Thursday. It was brutal. It was nearly impossible—harder than raising newborn twins (I eventually got to experience that, too). I never slept. I was either working or studying 24/7. I remember coming into work each morning, and people would give me a hard time because I looked so exhausted. They thought I had been out partying. Unfortunately, I had just been studying.

As graduation approached, something had to give. It became impossible to keep my grades up while earning a living, so during my final three months of school, I realized I couldn’t continue working full-time and finish my degree. I resigned from my job.

The date was October 1, 2008.

The financial markets were in free fall, and the Great Recession was beginning. It was, by almost any measure, one of the worst times imaginable to quit a stable job with no backup plan and start a career in real estate.

I had no clients, no listings, and very little money. I remember looking at my bank account, seeing about $800, and deciding to spend roughly $300 on real estate classes and the licensing exam. It wasn’t a calculated business plan—it was a bet on myself.

I interviewed with only one company: Centre Realty Group in Newton, Massachusetts. They had rented an apartment to my girlfriend and me a short time earlier (she’s now my wife), offered me a position, and I accepted.

I had no idea where that decision would lead. I just knew I had to make it work. I had $500 left and one week to figure out real estate.

Next month, I’ll share how I went from earning about $3,000 a month as a property manager to becoming one of the top apartment rental agents in my office, more than tripling my income—and the simple habit that completely changed the trajectory of my career.

Daniel Gardner is founder of DMG Brokerage, Norwood, Mass.