Q&A: Non-target -> (Non-BB/elite) IB -> Columbia MBA -> REIT Investments

This post is about moving into real estate acquisitions/investments from a non-real estate background.
It’s a been a long journey and I referred to this forum many times throughout (maybe more on the front-end than I do now) but here's my attempt to pay it forward.

I worked at an international IB in the M&A group for about 4 years in NYC, but knew I wanted to be in real estate investments or development in some capacity. Actually, in year 3 I started hitting interviews pretty hard and realized that the opportunities available to me were less interesting than I had anticipated; the biggest barrier being lack of any real estate background. I had been interviewing for about 3 months and had only really been getting traction with REIB groups, placement agencies, consultancies, and other advisors.

I began sending out cold emails to people I had found on linkedin who were working in interesting real estate investment roles in NY but had not started their careers in real estate, asking for advice. I found that a large number of the people I spoke with had an MBA from Columbia. They said it was immensely helpful in their transition, both in terms of preparing them to work in real estate investments as well as in the recruiting process. They convinced me.

I began applying to three business schools: CBS, HBS, Wharton (thanks to early decision was admitted to CBS before even having to submit the other applications). It quickly became apparent that I couldn’t simultaneously work as an IB analyst/associate, prepare my MBA applications, and continue to interview so I dropped the latter and went all in on the MBA.

The people I had reached out to initially right. I found the real estate program and people at CBS to be phenomenal. I thought I was the only person who was trying to make this move from generalist finance to real estate investments but quickly found a group of friends who were doing the same and we could compare notes and strategy constantly. The programming (I hesitate to say classes because so much of the education takes place outside of the classes) was incredible and brought me up to the level of people who have been doing this for years, if not beyond.

I am finishing up my last semester now and will return to the REIT that I interned with over the summer in an investments/acquisitions role; we deploy capital via acquisitions and development and are working on some really amazing projects. My friends who were in a similar situation have had similar success in their experiences and I think would agree with most of what I am saying.

As I alluded to earlier, its been a very long and expensive road. Those interviews I first started going to when in IB were roughly four years ago now. Instead of the cushiony savings account I had built up after 4-5 years in IB, I have a lot of debt. It’s a huge commitment to go down this path. But for me, it was a game changer. Not only am I doing the work I dreamed of doing, I feel part of the real estate community in NY, made some of my closest friends, and had just incredible incredible experiences along the way that can’t be quantified but certainly have become a part of who I am.

With that, feel free to ask me anything.