Career in CRE as a convicted Felon?

Due to unfortunate circumstances when I was 19 years old I was convicted of a felony. Needless to say after 8 years of getting my act together and taking on the challenge of getting my BSBA I am worried that once I apply for internships/jobs later down the line I will be immediately disqualified due to my criminal record. I am very passionate about CRE and finance and worry there may not be much hope for my case. However, I have been doing my research and will still apply the same level or dedication regardless of the outcome. I doubt anyone here has much personal experience relating to MY situation. However, I figured this may be a place where I could receive some direction and advice. If anyone works in HR for CRE or other financial institutions and has any advice, I would love to hear thoughts and opinions.  

 

Good to hear you got your act together and are passionate about the industry. However, as you understand it will be very difficult to access those large shops with a tick on your record. To break in your best bet may be to find a smaller shop that (if they ask or do a check) you can explain. The smaller shops may look past this as it was nearly a decade ago and you since have gotten back on track. But again, you need experience to get experience so network and have people that can boast for you and help get your foot in the door. Go on LinkedIn and search for people that have your desired role and reach out. I have worked and interned at some different shops and you would be surprised that some will simply not check or would work past a criminal history. Fine tune your skills and continue to get certificates. Try to be as presentable as possible and show your worth with the value you can bring. Some shops may see your dedication from this and take the chance. Keep pushing and if you are passionate and persistent, something will come.

Best of luck

 

Hate to break it to you, but larger firms who have application portals online, often have a brief questionnaire when you apply, which covers if you have a criminal record. I'm sure you'll just get flagged and rejected based on that, given they have so much competition.

Focus on smaller/boutique firms, doubt they will find out until background check stage, and be transparent along the way if necessary.

 

Like many have said, larger shops will probably reject you. In some countries, anyone with a criminal record cannot be in the investment management business, which is a reason why.

It's tough, but nothing is impossible. Smaller shops are probably a better route in, or working at a startup developer and going from there. And if nothing else prevails, keep saving and start doing your own CRE investments.

 

Thanks in advance to all that have offered suggestion/input, this topic has been weighing on my mind a lot lately and to hear that there is a glimmer of a chance of me having a "normal" life is very helpful and gives me hope for my future.

 

Rehabilitation and such so I had to put my community college program on hold. Wasn’t quite sure what I truly wanted to fully commit to in CC so didn’t rush to complete it. Also worked full time in a kitchen as the sous chef and thought I could make a career out of that. Realized the pay wasn’t worth the work I was putting in and finished my degree in CC and applied to local university. I don’t have much experience in real estate at all but have given thought to getting my re license. I’ve been networking a lot since being in my university and have made friends with some people at the restaurant I work at who are in IB at big name banks in my city. So my network is decent.

 

CREn00b

Rehabilitation and such so I had to put my community college program on hold. Wasn't quite sure what I truly wanted to fully commit to in CC so didn't rush to complete it. Also worked full time in a kitchen as the sous chef and thought I could make a career out of that. Realized the pay wasn't worth the work I was putting in and finished my degree in CC and applied to local university. I don't have much experience in real estate at all but have given thought to getting my re license. I've been networking a lot since being in my university and have made friends with some people at the restaurant I work at who are in IB at big name banks in my city. So my network is decent.

What state are you in?

 

Im not sure you can get felonies expunged, but I could be wrong. I think felonies haunt you for life, which is why in nearly every circumstance it is critical that your lawyer negotiate to pleading guilty to a misdemeanor. Once you have pled guilty to a felony, you lose all sorts of rights (incl. the right to vote). OP must have had a bad lawyer or a history of committing criminal activity. 

 

You can apply for expungement after 10 years so you'll have to wait 2 more years before being considered at a larger firm through a traditional hiring process.  Hire a good lawyer to help you get your record expunged.   You can try to network your way in with a smaller shop but you'll still need to explain what happened as it will likely come up.   

Have you thought about working in construction for a while till you get your record expunged?  I know many contractors and sub contractors will hire non-violent felons given the tight labor market. If you have good project management skills you could move up at a GC fairly quickly.   Or have you considered the entrepreneurial route and starting your own trade business?  e.g. drywall, framing, stucco, HVAC? You'd be surprised how much money you can make.  Eventually you move into flipping homes, then small apartment buildings, then before you know it you're a tycoon!!       

 

I actually talked with my former lawyer a few days back about an expungement and I don’t believe I’m eligible. I’m hoping since the law was just changed they’ll change it again down the line. I might try finding a lawyer that specializes in expunctions just to make sure. I am still in school currently so working full time is out of the picture for now unfortunately. I have been working in a kitchen as the sous chef but has to change my role since I was returning to uni and wanted to focus more on getting good grade/networking. I have considered the entrepreneurial side but trade work is boring to me and I’d like to use my skills and knowledge for something more mentally rewarding. I have some decent savings ($10k) just sitting and have thought about starting up a small business to make some passive income but really haven’t given it much though since there is only so much you can build up with that amount of capital.

 
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One of my buddies is in HR and served on what amounted to an in house criminal review board for a large company. They tended to look at what you did, how long ago you did it and what you’ve done since in making a hiring decision. Some stuff they simply didn’t care about e.g. fishing and hunting without a license (surprisingly common), one off DUI with no on the job driving. Other stuff was basically unhireable.
 

You’ve got time and rehabilitation on your side, the crime is serious, but it’s also not rape, murder or fraud. Smaller shops may not run background checks, look at the NC Realty Board if it requires character and fitness for licensure and if things are auto disqualified, FINRA has rules around misdemeanors and felonies, I believe 10 years for felonies and 5 for financial related misdemeanors, but even they have a process to get around disqualification.

I would look at small to mid sized GCs, they are likely to be more lenient, also smaller shops doing CRE whether it’s brokerage or investment.

 

You are 27 now? How much time did you do? 

I was convicted at 20 as well in a US court. Years later, when eligible, I got what is called a certificate of relief from disabilities. This returns my right to licensure (including real estate sales and broker) in my state. Only firearms and public office are excluded.

I agree with others, the larger PE shops are a waste of time. If I could do it all over again, I would start in construction. Ideally, with a GC who does TI fitouts so you have some exposure to leases. Learn the basics of CRE finance and modeling simulataneously. Bruce Kirsch is far and away my personal favorite. 

Feel free to DM me if you have any questions. I am happy to help. 

 

Don't listen to these people! If you believe you don't have a shot, you don't have a shot. What does it hurt to try? Talk to your network and ask them what they think you should do next to get to where you want to be. They know you personally so will have a better gauge of best steps to break in than a bunch of nerds on an anonymous forum. You can't win if you don't play!

 

Im almost 100% confident that corporate background checks do not surface your record past 7 years, so in this case I believe you would clear it. Also, if you were 19, your attorney should have gotten you youthful offender and this would've gone much smoother with no record of conviction.

 

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