35 Yr old hoping to work for a REIT upon graduation
Helli all. I am a 35 year old returning student at Kaplan University. I am studying finance with a specialization in real estate. I have 2 years until I graduate. Upon graduation I hope to work for a REIT. My question is what are my job prospects being that I will be 37 upon graduation?What are some things that I can do to get on at a reputable firm? Any feedback is greatly appreciated.
REIT jobs are very tough to get; in a sense, some might even say it is comparable to landing a gig in a real estate private equity firm. It's very competitive, and to be blunt you'll be competing against many younger folks coming from higher ranked schools than you. Some shops value pedigree more than others, but I can tell you a few things to internalize should you want to go down this path: 1) you will need to be able to model/underwrite lights out and will most likely be given a test at any interview you are invited to 2) you will need to network your ass off/hustle to even land an interview, meaning reach out to as many people as you can at various shops you're interested in and request a few mins of their time via phone to learn about their career path, request advice, explain your aspirations, etc.. 3) do not have any preconceptions about your 'intrinsic value' or what you deserve to be paid as you will be starting at the bottom most likely; you might even be upfront with your interviewers and explain you are fully aware and are hungry to learn/work hard. Being 35-37, I would guess you might have a family and priorities/financial overhead that most millennials do not, and I think this could work to your advantage i.e. you could sell yourself as being in it for the long haul vs. job jumping, you are more mature and can demonstrate a higher ability to get work done/focus/engage with others, etc.. and the list goes on. Understand you are at a disadvantage given your age, competing against younger people who can probably take a lower salary, and might be willing to work longer hours (I could be wrong on all three-apologies for generalizing). Work hard, treat recruiting/networking like a full time job, and hustle. Investment sales could be another way to the REIT space as well, and may have a lower barrier to entry. There are a variety of ways to end up in any given role in real estate, and for the most part all experience is good experience in the grand scheme of things.
Investment Sales is simply brokerage, or the buying and selling of buildings if you will.
Top Companies that do this on the institutional level are JLL, CBRE, C&W, HFF, Colliers. Then there are mid market and small tier national shops, and then there are regional shops.
What is your experience with real eatate?
why does it matter?
I live in a real estate.
Google John Crossman guide to CRE. It'll help you with the basic and areas of specialization in CRE. Also, Adventure in CRE is a great website.