Should I apply to Masters of Real Estate programs?
Hey everybody,
I am a 2020 graduate of Cornell and have been working for nearly a year now. I work in a completely unrelated field without any experience in institutional real estate (however, my family is pretty invested in RE and have developed a few profitable properties but this is more small scale). I have always been interested in commercial real estate, specifically development and acquisitions (I know development is something people usually break into after having other RE experience under their built). I tried to break into the industry my senior year of college but things didn't work out. Thankfully I landed a pretty cushy job, but I absolutely hate it and cannot imagine staying at this place long-term.
I was wondering if it would be worth it for me to apply to some Masters of Real Estate programs in the Fall to make a career transition. I have been able to save a quite a lot of money (working from home and some lucky plays in the stock market), and would most likely be able to completely foot the bill for a 1-year program.
I'm primarily interested in Columbia's MSRED program as I would like to stay in the NYC area and it is only one year. Is it worth going broke (but no debt) and forgoing a year's worth of income (~100k worth of income) to make this career transition? What kind of positions would I be able to recruit for and what would typical compensation look like starting out given that I have no previous RE or finance experience. I have researched the industry extensively for the past 2 years and I am 100% confident I want a career in it, and I would also like to make this career transition sooner rather than later as I hate my current job and hope to open my own firm one day.
Thanks everyone!
Lmao I'm Dead, sorry there are no responses yet. Maybe one of these topics can point you in the right direction:
More suggestions...
If those topics were completely useless, don't blame me, blame my programmers...
Have you tried networking around? You went to cornell and your family is pretty invested. Not trying to troll but you didn't really comment on that aspect. I'm sure an alumni or your family can introduce you to someone
You should honestly do it. You get in, work hard, and do it the right way and you should be able to land a solid position you are happy about. 1 year isn't much and if you can afford it, it will pay off. Getting roles through friends and family can work, but it's often never in the exact position you want it to be. I don't care what anyone says, Nothing beats getting started early.
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