Getting into real estate without contacts: should I try?
I am a junior at a top 30 liberal arts college studying urban studies. I've had internships at the following: 1) in the lending dept at a gvt-funded financial services firm; 2) in acquisitions and finance of a small, but kind of prominent real estate development firm; 4) in the consulting division of a non-profit financial services firm that finances real estate development projects in low-income areas to increase wealth.
My family does not have any contacts in real estate, but I am really passionate about the industry. I've been reaching out to people and trying to form connections, but it has been really difficult to find an internship for the summer. I have been applying to internships in acquisitions, development, and investment sales. I have heard back from some smaller firms who have interest, but not any nationally/internationally recognized firms.
I know that anything in life is possible, but is it likely that I will continue having trouble getting into a top firm because I do not have contacts and I do not go to a business school?
I have no family in real estate. You have great internship experience, you are fine, keep hustling, RE people really like the hustle.
It's all about how you sell yourself. If you don't come from an analytical/technical background at school, tailor your resume to demonstrate that you became skillful at modeling in excel through your internships.Play it up, talk about your technical abilities, cite examples of things that you have modeled or things you can do in excel.
Second what others have said. I have no family in real estate. I’ve built up 100% of my contacts through cold emails, cold calls, Bisnow/ ULI/ NAIOP events, intros from people I’ve met the other ways, and right here on this forum.
Such a no brainer - if you're passionate and have the drive (which it really seems like you do), you should absolutely 100% go into real estate. I had 0 contacts in real estate (family or otherwise) when I got in, and now am at a top quality development firm. Work hard and do well and you'll make contacts through your work. Join ULI or another industry group after you graduate and you'll meet people there as well. Not having family connections is the norm, not the exception.
Don't worry about a name brand with your internship, just chose which company works in the space you like and intern there. Your internship should just be about demonstrating experience.
I'm in a similar position to you. It's all about the hustle. If anyone says that you can only get to a goal a certain way, that's just them projecting their own failures and limitations on you. Not to get all preachy, but it really is all about making those cold calls/emails and taking the initiative. Like others more experienced than I have said, RE people especially respect the hustle.
As I told you via PM, all that means is that you just don't have the easy button, not that you can't break in. I didn't have any family members in the industry either but it hasn't hurt me to date; it simply hasn't helped me like it has helped others.
I had zero contacts when I was in your position as a junior looking for internships as well. You just have to put yourself out there, get creative with cold emailing people, and PM people who seem legit on this site and might be in your area.
The biggest thing that will set you apart and become memorable is to be well read on current deals going on, industry dynamics, and what certain firms are known for. I noticed as well that when you grab coffee and towards the end you ask if they know anyone they could introduce you to, almost 100% of the time you will get 2 or 3 more contacts. This will just compound your network. Just gotta be ambitious, proactive, and not afraid to put yourself out there.
Also, play the student card as much as possible. People are much more willing to mentor/help a student.
Wish you the best of luck, I was just in your shoes a year and a half ago.
Yes you absolutely should go after what you want.
As you see is the case with most posters in this thread, don't let the lack of connections stop you. I had none either - this industry is all about the hustle, so if you have it, and it seems like you do, you will get to where you want to be. Never give up!
Stop trying. Everyone in real estate was born with contacts. You’re fucked otherwise.
Et est cumque in nihil qui. Molestiae alias minima aut. Impedit non veniam harum ut possimus quos quibusdam. Expedita ut magni amet est in nostrum illum.
Ad est aut quia non voluptatem natus. Non non voluptatem perspiciatis voluptatem sit et enim sed. Ut natus dolor in velit odio. At qui optio exercitationem eum quasi similique. Fugit expedita tempore consequatur et commodi. Eum officiis quos omnis commodi voluptatem aspernatur vitae.
Vel in quibusdam ab sunt. Nihil possimus assumenda libero voluptas iusto facilis. Corporis qui sequi minus. Aut architecto inventore quisquam neque odio doloribus ex quia. Occaecati maiores omnis laudantium incidunt repellendus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...