I'm currently working in CRE finance but plan on getting into development eventually. I want to learn some basic construction concepts to have a talking point other than just financing, so I'm thinking about taking some sort of construction management class or reading a few books on the topic. Any suggestions?
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Career Resources
Maybe volunteer for habitat for humanity? I would think doing volunteer work would be a nice way to pick up the skills and lingo while helping others out.
Not knocking this idea - But I've found it is particularly difficult to get involved with Habitat. We tried to arrange it for my team at my old firm and they wanted to charge us a fairly substantial amount to participate (hesitant to call it volunteering since we were being charged). Not sure if this was an isolated thing or if this is how it works across the board for them, or could just be for the corporate side. Must be doing well though
Go to the local college bookstore. Find their construction management/architecture classes. Buy whichever textbook you think would be most useful.
Great idea, fyi.
Habitat will teach you the basics of building a simple single family home, good stuff to learn (longtime member myself). But in regards to commercial real estate construction concepts, taking a course in construction management would be a good route.
I happen to be in retail RE and there are a lot of good resources for people to easily learn about construction in that asset class, don't have much experience with office, apartment building type stuff though.
Buy the books from whatever course you think you should take or just research it online. You have infinite information at your fingertips.
Definitely wasn't expecting to see habitat for humanity as a response. I'll definitely check that out along with a few books, thanks guys.
Volunteer at Habitat if you want to help someone in need, feel better about yourself, or need to complete community service. Don't volunteer there if you are trying to learn about construction in CRE.
@"ArcherVice" is right on with books and online resources. Watch a few episodes of "Build it Bigger". They actually cover a good bit of project management, explanation of the process and get into some nitty-gritty details.
Here are 2 of the best books I have come across on the subject of development. These books have been recommended to me by various professors in my Masters program, development professionals I know and network with, and even people on the CRE finance side who have used them as primers. You can volunteer or whatever but to get a thorough understanding of the art and science behind development, you should really consider professional level sources. Below are links to 2 books depending on your focus:
http://uli.bookstore.ipgbook.com/real-estate-development-products-97808… http://uli.bookstore.ipgbook.com/multifamily-housing-development-handbo…
Thanks a ton guys, this is really helpful and exactly what I was looking for
Volunteer experience in construction is great, you learn more and much more fun
Get the know the Capital Project's / DD guys at your firm if they exist.
Construction Resources (Originally Posted: 08/18/2016)
Hi,
I am particularly interested in Development but would like to learn more about the Construction aspect. Is there a book that you would recommend that gives a detailed overview of the process from the Project Manager perspective.
Additionally, any construction resources most practitioners tend to rely on (for example Ivestopedia).
It would also be great if you're willing to share financial models pertaining to construction or resources you would recommend.
Thank You
Fundamentals of Building Construction: Materials and Methods textbook by Edward Allen and Joseph Iano.
I could shoot you over a copy of the Bidding Excel Spreadsheet that I use to use at a Contractor to give you an idea how things are calculated that way.
Some of the best resources I know:
2016 National Construction Estimator - really helps you understand more labor/cost for projects you might not be familiar with
Construction Contracting: A Practical Guide to Company Management by Sears & Clough - I haven't met a CEO of a contractor who didn't have this book or read it.
Markup & Profit: A Contractor’s Guide by Michael C. Stone - this is a solid read. Really helpful!
Some blogs: http://www.dexterchaney.com/news/blog http://blog.cmicglobal.com/Construction-and-Capital-Project-Management-…
Hope that helps brosephus.
This is awesome! Thank You very much. If you could send me the Bidding Excel Spreadsheet i would truly appreciate it.
Construction Resources/Learning Materials (Originally Posted: 11/15/2016)
Hey everyone. Analyst here at a BB doing BS lending. Obviously we do a lot of construction loans. Wanted to see if anyone in the WSO community could recommend any books, websites, or trade magazines to learn more about construction. I feel like my role is too finance oriented sometimes and we often get away from bricks and sticks. Any help would be appreciated.
Interested as well. ULI book is good, but stays high-level. Does not touch up on a lot of CM points such as GMP vs. lump sum contracts, bonding, etc.
A great intro and light read that will benefit your own edification in construction/engineering is "Structures: Or Why Things Don't Fall Down" by JE Gordon
Thanks. Will be sure to read.
Maybe subscribe to ENR? I have one, its ok. They usually have 1 good article and its issued every 2 or 3 weeks I think. Maybe see what big developments or projects are going on in your City and see when they do invitational hardhat tours. These are usually pretty cool. I know NAIOP try to do some every couple months or so. If you want more technical info, maybe search for Construction Management undergrad textbooks. You could drop an email to an engineering school with a CM program and ask for info/recommendations on books too. I think some kind of baseline understanding of the technical side will only help in the long run.
There are a lot of great courses on Udemy and Coursera that cover building systems (MEP’s, structural, architectural), civil systems, construction management, etc through both a design and construction lens. I also agree with the above post on grabbing architecture and construction books from your local college bookstore. Might be more expensive and denser to read than the online video courses though. At least starting out.
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