Breaking into Real Estate Development?
Tips on breaking into Dev in Toronto Canada? Finishing up a Masters in Real Estate, previous background in Property and Asset Management, looking to join a team in an investment/financial role but with the option to still learn about the entire development process.
Seems like a tough market right now, but what sorts of developers should I target and what should my strategy be for landing a full-time role? I really like Dev and want to learn as much as I can.
Also wanted to ask, my financial modelling skills are solid, but I am considering taking further courses to really be solid - thinking BCre or ACRE.
Thanks,
Breaking into real estate development, especially in a competitive market like Toronto, requires a strategic approach. Based on the most helpful WSO content, here are some actionable tips:
1. Targeting Developers
2. Networking Strategy
3. Strengthening Your Financial Skills
4. Positioning Yourself
5. Market Awareness
6. Timing and Persistence
By targeting the right developers, leveraging your network, and continuously improving your skills, you can position yourself effectively for a role in real estate development in Toronto. Good luck!
Sources: Real Estate Opportunity For Civil Engineers, Breaking into commercial development, Starting in Real Estate Development, Breaking Into Commercial Real Estate
Bump
I dont know anything about the Toronto market, but you need to be networking as much as you possibly can. When I was doing my MSRE, I made coffee chats and networking events basically a part time job. Its a non-negotiable in this market. Spend a few hours researching on LinkedIn what firms are active in your market, compile a list in a spreadsheet, and just start firing off cold linkedIn messages to people for coffee chats. That was my strategy and it worked well.
Modeling is important, but thats honestly table stakes, especially in this day and age with Claude being able to do basically anything an fresh analyst can. Try to set yourself apart from other would-be analysts with your experience in PM and AM and how that can help with development. There are all sorts of ways i'm sure you can spin that, but at the end of the day, you will get hired likely due to how you present yourself in an interview, and if the firm thinks you are a cultural fit. At least thats my opinion on how things go.
Thanks for the tips. I’m in the process of coffee chats - they’re going well overall. Learning a lot from people and everyone is saying to stay in touch, but lead to nothing. Any tips?
Unfortunately been hearing this from a lot of people in your position. You are doing the right thing, just need to cast a wide net and eventually something will land. Some will say not to be explicit in asking for a job, but I almost disagree at this point. Obviously you need to handle the conversation and ask in a polite manner, but its somewhat obvious in that you are there as you want an opportunity, and maybe just state that. Follow up with people after a few months and see how things are going. Show a genuine interest in what they do.
When I did this, I had to start with an internship after graduating with an MSRE (1-year program) that I was able to convert to a full-time offer. That is probably your best bet to start with, and then grind your ass off making yourself as valuable as possible so they want to hire you full time.
Nothing about this market is easy, in terms of job opportunities or the RE itself, so you just need to keep grinding and if you have legit interest in it, you will eventually land something.
As someone who “broke in” a few years ago….don’t do it. The business model is broken.
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