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Career Advice - Real Estate Development/Investments

1,203 Views | 3 Replies | Last: 7 yr ago by Up&ComingAg03
WestTXag18
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I am beginning to look into new jobs but don't know exactly what to look for/expect. I am interested in real estate development and investing, but I would like to speak with someone that has experience that could help me better understand what kind of job I could get with my experience and what I can expect to be actually doing on a day to day basis in that job.

Graduated A&M just a few years ago, then got my MBA and have been working as a commercial real estate appraiser in Houston for almost 2 years.

Any advice/suggestions for what I should look into and what I would be getting myself into? I am also open to any opportunities if anyone knows of any. But right now I am just hoping to gain some insight into the industry.I am located in the Spring/Tomball area so will be looking for something in north Houston when the time comes.

Ideally, I would like something that could maybe get me out of the office some. I enjoy the research/analysis of my job but really dislike writing report after report. I think I would also like to be more involved with management of a project/within the company.

Thanks for any help!
Bitter Old Man
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AG
I've been in several positions across the CRE business, but I think I learned the most as a lender (banker) because I get to watch others invest and make money and how they do it. I can see all aspects of how different deals are structured and funded by different groups.

IMHO - Development and Investing are about 2 things. The 1st is Balls. There is a lot of risk on the line when you get started. Most good developers have been bankrupt at least once. (See Trump). Not everyone has a stomach for it, and most developers are a little bit nuts.

The 2nd is the ability to find and recognize a good deal. Being an appraiser should give you a leg up there, but you have to be able to think outside the box and how you can make a deal work for you. If you find the right deal, money is easy to get.

There really isn't a job called "Developer." If you want to be a developer, then go develop something. But jobs working for developers are like Unicorns, and there aren't a lot out there unless you have a connection already. They like to keep their overhead low, so unless you are adding a lot of value to them, you are dead weight.

Careers you might want to consider: Banking/Lending (including mortgage brokers), Private Equity, or Brokerage. Large brokers (CBRE, JLL, Cushman, HFF) have market research departments in every city, which is a great entry-level job into the industry, which your experience would be useful.

At the end of the day, real estate is about sales and business development. If you are a banker, broker, PE, or other, you need to be able to find deals. If you can network and do that, then you would be valuable to someone. If that seems outside your comfort zone, then I would think twice about it.

Up&ComingAg03
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AG
I'm an appraiser myself and am curious about your comment about wanting to get out of the office more. That's what many people enjoy in the field, actually getting to get out on inspections. I'd lIke to hear a little more about your experience in the industry and what you don't like about it. Pm me email me off my profile.
WestTXag18
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I can't PM you.

I guess I didn't mean that I want to get out of the office more than I am now. I do like that part about my job. I would just like to be able to do the same if possible in my next job.

It is very possible in my research that I find out sticking with appraising for now would be the best option. I just know I don't want to do this long term and there isn't really any growth into a new position possible here. What I am doing now won't ever really change no matter how long I am here. I think working for a developer could allow for more growth and opportunity in the future. At least that is my thought and what I am trying to figure out if true.
Up&ComingAg03
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AG
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