Commercial Real Estate Careers With International Travel
I am wondering what career opportunities are out there that involve commercial real estate and traveling internationally. I am a recent college graduate and have started working with one of the largest investment brokerages in the U.S. I am a sales agent specializing in multifamily. I really do not see myself long-term working in commercial real estate sales. I absolutely love investment real estate and the great potential upside which comes along with this career, however, at the moment I am not happy. I really want to stay in the real estate industry but want to travel as well. Are there commercial real estate careers which involve travel? How easy is it to get into such careers? What kind of experience is needed?
You could look into acquisitions at an investment company that does work internationally. You might also consider working for a smaller, HNW developer who does projects abroad.
You could work for a canadian company whose portfolio is mostly american. There is a good chance that this would allow you to fly from Toronto to NY at some point.
It's pretty rare because even if you work at an investment firm that does international stuff they'll typically have people on the ground doing everything (acquisitions, Asset Management, leasing, property management, etc) in that country. As the old saying going, real estate is a local game generally: that's why even the biggest of domestic firms typically (yes, there are always exceptions) concentrate in a limited number of US cities so they know the local market. Now throw in knowing a foreign market and add in how real estate operates legally, the general customs of how tenants use real estate (for example, leases are completely different beasts in other countries) and things along those lines and it makes domestic real estate skills and experience difficult to transfer to other countries on a part time basis. I'm sure if you're super senior at a place like Blackstone you oversee international stuff but generally your experts will be in that market.
That doesn't mean it's impossible but the guys I know in real estate who do things both US domestically and internationally tend to be fundraising guys who deal with international investors. I'm also talking the bricks and mortar side of RE. I'm not certain because I was never in it but maybe if you're buying and selling paper you may do it in other countries (could be wrong).
Good points. Something to consider would be the real estate arm of a multinational company. You could have the opportunity to travel to sites being considered for new locations, but as Dingdong08 said, nothing is guaranteed.
I think your best bet is to work for a private equity fund that buys and repositions assets across the US. There are a lot of these--typically small organizations that raise discretionary fund money from sovereign wealth funds, endowments, pension funds, high net worth individuals, etc. and then go on a buying spree of assets that fit investment criteria. Your opportunity to travel may be in the due diligence phase of underwriting these deals.
Thanks for all the input. How about working for a REIT?
Thanks for all the input. How about working for a REIT?
Thanks for all the input. How about working for a REIT?
Definitely could be possibilities at a REIT or REPE, really depends on your role and, obviously, if the company owns or is looking to acquire international real estate. Another option could be real estate consulting/transaction advisory. The big 4 accounting firms have real estate transaction groups and there are plenty of opportunities for domestic travel to a variety of locations. It really depends on the client and the type of project you're working on, but there are international travel opportunities as well. Also, exits are pretty good, guys working for developers, REITS, repe, etc. It's a good foundation if you are at the beginning of your career.
If you get into development, there is a good chance you could travel internationally for investor meetings, etc. Obviously, this isn't until you gain some seniority in the company. Also, I know of a firm that regularly sends its managers on trips across the country to research new developments. They may be unique in the way they develop new ideas, however.
Just a question, but your firm doesn't send its brokers to meet with lenders and investors on a regular basis? I worked at a brokerage, and the producers were always traveling to meet with the big money guys and play golf, etc.
Producers in the office rarely travel to meet clients. Most people only focus on a single market, in our case, the San Francisco Bay Area. Clients are typically local investors or developers so no travel is really necessary.
Real estate consulting is the only career path I know of with international travel. Very unlikely at the analyst level, but principal level at a firm in my market travel frequently to Europe, South America, and Asia depending on clients.
Site selection for a franchisor or retail chain - you go to different cities and decide where new stores or restaurants should be located.
Specialty auctioneering - primarily for ranches and farms, but could be for commercial or residential property.
Development - scouting for new communities or commercial development opportunities.
Regional management for apartment complexes.
Any of these will require extensive experience (and strong grades).
OR
Look for a real estate company that deals in properties located in various regions, you have to travel frequently.
I think the U.S. has hit a point of diminishing marginal growth--a mathematical certainty at some point, but a certainty that has been accelerated forward through poor public policy.
Fai
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