I am a licensed broker, relatively new in the industry with 6 months of experience. I currently work at a Brokerage that specializes in residential leasing and multi-family sales with units 8. I'm committed to finding work as a commercial real estate analyst - I'm searching for something more mathematically complex with a higher analytical learning curve.
As background, I was a math/physics major with a very high GPA and years of independent physics research in undergrad. After school I did a few years of full stack software development at a boutique financial derivatives firm (from implementing models in software, networking market data, to working on UI tools for traders) before pivoting to 4 years of self employment in music and audio.
I've started working in real estate about 6 months ago and realized that it has the potential to blend the right amount of social and analytical skills that I want out of a career. An underwriting position at a large firm would be the ideal starting position for me, and I have been networking heavily for a while now, but I haven't heard back from a single application. I am wondering if there is a certain course I should take; master's degree, Argus training, some sort of underwriting certificate- that would help my resume rise above others. I have self studied underwriting at this point and have a decent grasp on the fundamentals of financial investment.
To position your math/physics background as a strong asset for a commercial real estate analyst role, focus on highlighting the analytical and problem-solving skills that are directly transferable to underwriting and financial modeling. Here's how you can approach this:
1. Leverage Your Analytical Background
2. Bridge the Gap with Certifications
3. Showcase Your Real Estate Knowledge
4. Network Strategically
5. Consider a Master’s Degree (if Necessary)
6. Tailor Your Resume
By combining your technical background with targeted certifications and networking, you can position yourself as a strong candidate for commercial real estate analyst roles.
Sources: Resume boosters for real estate analyst roles without any real estate experience?, Cornell Certificate in Commercial Real Estate vs MIT Commercial Real Estate Analysis and Investment Certificate, Advice On a Career, Thoughts on CRI (Chartered Realty Investor) designation?
I am genuinely fascinated how a math/physics genius ended up at a brokerage firm. Did you spend time in prison?
😂 that’s funny. I wouldn’t call myself quite a genius although I have strong confidence in myself. I have very high applied math ability and grasp finances really quickly.
In a nutshell I jumped from software for derivative trading to focusing on art and music in 2022, after a few years of basically fully remote software development. Within a few months I was a K-8 music teacher, a choir director, interning at a recording studio, and working up a book of music students. I’ve done a mix of this work for 4 years (dropped the K8 teaching job after a year as I was way better doing stuff on my own) and did well enough to buy a house in a large metropolitan city.
Anyways I’m married now with a kid on the way and decided I need to pivot again and fully use my skillset in an industry that has upward mobility. I more or less accomplished what I wanted out of my venture into full time music and audio work. I’m also just craving using my analytical side more- I tutor physics and calculus on the side for a few students a week to stay sharp but I’m looking to bite into something with some real complexity.
I ended up a brokerage out of convenience and also because I am basically self employed for the past 4 years. I wanted to work on my sales skills but am already getting tired of the sales/analysis balance - I want to be an in industry where I will need to grind my understanding for a few years before I can make a tangible impact as a sales person. I’m looking for work that is sophisticated enough to turn most people away, and where there is an opportunity to explain and summarize it to others.
I don't think anyone gets into re finance because its complexity or how stimulating it is. you can do like 80% the work on the windows calculator app
What would you recommend getting into?
Some traditional CRE ideas (I’ve worked with these people):
Start in research at a pension fund allocator and then eventually get into RE hedge fund trading (ie REIT focus) or rise up and be on Investment Committee at the research guy, and eventually pivot to head of research and strategy at a sovereign wealth fund.
Work at an analytics firm (Real Capital Analytics, REIS, NIC); or more targeted research for property specific advisory (Concord Group, JLL).
Untraditional:
Your background in music, audio, physics, and jumping around in education and brokerage, makes me think you are unconventional and would be better off working in a start up environment (opposite of my suggestions above). Think something like CloudKitchens (no idea how they are doing or environment), but RE plus a new concept and robots. Codi or similar company that is creating tech incubator spaces (WeWork 2.0) - find other people like you. Or specialize in robot taxi real estate (brokerage, build out, analytics ie someone at BCG I met did a project on maintenance truck route efficiency) and all the second and third order uses around the Physical AI - CRE trend (this is just an example). You should get a plane ticket to SF and LA for Tech Week in early October.
I really appreciate your reply. I'm based in Chicago and can't relocate for family reasons. However, these are great suggestions.
I have been focusing on grinding excel / pro forma modeling skills, as well networking. I'm going to check out every company you listed, I really haven't considered too many places outside of large brokerage firms.
There is basically no chance to go from an allocator to REIT LO, much less to a REIT HF. SWF & PPF guys have to do basically no intense research themselves because they can request anything from the people that want their capital, and any deeper research is irrelevant because of the size of the portfolio. It's a great job but there's little analysis beyond what a first-year economics student can do. Analytics firms I think are probably fine but not a bunch of finance in there.
However; a MFin (don't think Booth has a MSRED) is a good shot if you're set on the REIT LO/HF path, though I don't know too many in Chicago, but it's also really good to pivot into something more commodities/derivatives-based given the location and your natural fit with math/physics background. Before jumping straight into more school tho, Odog did have a good idea on the consultant route - all the MBB have good presence in Chicago with real estate-specific teams. RE is a tough market in particular right now regardless of what city you're in; I'd spin the current experience as wanting to do something entrepreneurial and class it up as much as you can regardless of whether you're doing RE or otherwise.
You might need to spend a few months eating crayons before you have any luck landing interviews. After that should be a walk in the park
I'm not sure what eating crayons means. Do you mean finding some very underqualified job?
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