Construction Family Business
Background: Semi-target, liberal arts degree, 1 year in analytics.
Situation: Before 2008, my dad did very well building spec single-family homes and some neighborhoods. He bought land, built the houses himself, and sold them. He got out before the crash without losing money but never went back, mostly because he says he doesn't understand the finance side. He's willing to get back into the business with me and use his network to help us get started, on one condition: I first either (a) work at a real estate firm for a few years to learn the finance, or (b) get a graduate degree.
- Firm vs. degree: The goal is to restart a shop like his and eventually grow it into bigger projects and other asset classes. Which path builds the most relevant skills and credibility? I'm assuming certain resume stamps, alongside a real track record, will matter when raising larger amounts of outside capital. Is an MBA overkill here, and would a specialized program like an MRED (e.g., Columbia, USC) be a better fit? I’d be willing to do an earlier MBA, one that is ranked lower but regionally strong or has good RE professors.
- Breaking in: What's the most efficient way into a relevant role like acquisitions or investment analyst? Cold applying hasn't worked so far. I'm considering an Argus certificate and adding financial modeling projects to my resume. Are those worth it, or is there a better use of my time?
- The finance gap: While I don’t want to over index on finance skills for a specific asset class, where should I start? Claude recommends I look into: developing, construction lending, land carry and interest rate risk, pro formas and sensitivity analysis, and structuring deals with equity partners. Assuming most roles, especially entry level, don't cover all of this but is there anything else I'm missing or not considering? Really just tryna set a solid foundation for myself over the next few years and go into business asap.
- Others' experience: Has anyone done something similar, joining or restarting a family building or development business?
There may also be the argument that anyone in my shoes (recent grad and ability to take risks without worry of finances) should only be working on AI startups, but I don’t really buy that.
Appreciate any input. Sorry for the length, I used AI to help organize my thoughts.
