Best cities to start your CRE career
What do you guys think is the best city to launch your career after college. (Specifically brokerage and development)
What do you guys think is the best city to launch your career after college. (Specifically brokerage and development)
+40 | Case-Shiller Showing Higher Ratio Than Ever Recorded Before - Are We In For a Collapse in Housing? | 15 | 5m | |
+38 | Launching Own Shop | 20 | 3d | |
+38 | Extremely Salty After This Process | 32 | 23h | |
+27 | Megafund REPE Comp | 7 | 1m | |
+26 | Am I right to be kinda pissed about this? | 8 | 2d | |
+25 | Quick mental math question | 8 | 3d | |
+25 | Alternative to Starting A Shop | 5 | 1d | |
+20 | Is NYU Schack (BS) worth it for Commercial RE/REPE/REIB | 12 | 4d | |
+15 | Compensation: Real Estate Development | 7 | 2h | |
+15 | Tightest Historical Spreads for CMBS SASB and Conduit | 2 | 2d |
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NYC...everywhere else is irrelevant
But really to not be a troll, its depends. This is real life, there is no reason to move to LA for a RE job if you know you want to be back in Atlanta in 5 years anyways. If you have a network, where is it? If you want to end up back somewhere where would it be? Real estate happens in every city which comes with ups and downs, it means you can find that type of work anywhere. Its not like you're asking if you can be a commodity trader in LA. But your RE experience can often end up being localized which makes it harder to change markets than say an actuary
I know people who would never in their life move more than an hour form the ocean, or never move somewhere there isn't snow in the winter. Whats important to YOU? Live your life because you're not going to be Jonathan Gray, sorry.
I am sorta sorry, but not really, for saying NYC 200%. No matter where you plan on ending up, creating a network in the capital of the world is beyond valuable.
No doubt the city has a ton of flaws, but this environment will absolutely shape you into a more successful person.
Edit: Why on earth have I been getting MS???? Not one thing I said was incorrect.
Agree. The guy said "start" and NY is clearly the mecca of RE finance.. Plus the elevated salary you'll get as a function of being in NY will follow you to whatever city you want to be in long-term if you're a decent negotiator.
That being said, firm quality trumps location 1000x
Denver.
The whole Front Range will be developed over the next 30 years through both sprawl and infill. Capital and people are pouring in, job and income #s are up and seen to be continuing in that direction, economic base is diversified and on the cutting edge of several industries (aerospace, military, tech, outdoors gear, tourism, logistics, etc). The climate and natural environment inherent to Colorado is unmatched and naturally draws people in almost regardless of economic condition. The culture is open, entrepreneurial, friendly, and still embodies many of the traditional live and let live values that made the West so great. The lifestyle and culture emphasizes a great live-work balance and social expectations are to live a healthy active lifestyle. People are generally friendly, so it's much easier to network, break into what you are looking for, and create amazing opportunities for yourself.
I'm a bit biased because it was always the place I wanted to live and is a great place to live, but considering the basic economic and demographic fundamentals, there aren't many places better to build CRE career than the Front Range. Every few weeks I see another person from my home moving there, and there are many multiples of that who would love to live here, but can't move from a plethora of reasons.
Really, it's about finding the place you really want to live, then going and making it happen. But the fundamentals can't be denied that the Front Range provides incredible opportunities to make it happen.
Dude, stop hyping it. We’ll continue to get more people from the coasts who will come here and ruin it.
Unless you have strong ties to, and network in, a specific tertiary city, you should aim to start your career in a major US city.
In no order:
New York
Miami
San Francisco
Atlanta
Los Angeles
Boston
Chicago
Washington, DC
Dallas
Houston
Maybe some others (Phoenix?) That in no way means you can't find a great opportunity in a smaller city, like Highwoods in Raleigh, but it doesn't hurt to play the odds.