Sumner Intern opportunities
I am a sophomore at a non target school who is pursuing and Economics degree. My main goal is to eventually invest personally in multifamily but want to gain experience through an internship and job for about 5 years after college. I want this job to revolve around CRE investing. I don’t really know if I want to focus on debt or buy side yet.
I have an above average resume but don’t think I will be able to get a top notch internship this upcoming summer.
I am seeking an internship in the Houston, TX area and have looked for positions with CBRE, JLL, C&W, Stream Realty, and a couple other. I have applied for some positions. Some of these companies don’t have any positions posted.
However, I have recived an internship position with Marcus and Millchap. I haven’t got the full details of the position but the guy I will be interning for has a lot of experience.
So my question is should I still shoot for a stronger position with CBRE JLL, etc, and try and get a role that revolves around the investment side? Or should I take the M&M position for the summer, learn as much as I can, and then use that experience to try and get an internship with CBRE or JLL the summer after?
Any advice or tips would be great. Thanks!
Make a habit of proof reading your shit before posting/emailing/messaging/etc.
Why don't you continue your search for a CBRE or JLL type shop until you get the full details on the M&M position? Is there a time constraint for giving them an answer?
M&M, CBRE, JLL, Stream, etc. are all sell-side brokerage shops for the most part. You said above that you want to focus on CRE investing, but that you don't want to be on the buy-side. I think you may be confusing sell-side vs buy-side as all CRE investing takes place on the buy-side (developers, REPE, pensions, REITs, REOCs, etc.) With that said, given that you're a sophomore you'd probably learn a ton doing a sell-side gig for the Summer and you would position yourself well to do a buy-side internship the following Summer. At any of those firms you'll see a good deal flow, especially in Houston. You'll probably face some headwinds against more experienced candidates if you try to go straight for a buy-side internship.
Check their website: http://www.sumner.com/
Hines is in Houston, TX and fits the bill for what you are looking for. Unsure about their summer opportunities though.
Take the m&m internship as long as it's not an administrative job, it's strong enough experience for a sophomore summer and continue to network with cbre jll. Many teams hire interns during the school year.
Here’s a tip: real estate companies very rarely actually post internship opportunities. Go approach every company you’re interested in from the standpoint that there is in fact an internship available and it’s yours to lose. Be persistent and know how to speak the language, and you’ll come out with something. M&M is bird in hand for almost anyone, given their model is churn and burn and they’ll probably either not pay you or will pay minimum wage. Look up analysts or associates via LinkedIn at target firms, figure out their work email, and send them a BRIEF message. There are threads on here with sample networking emails, but you ultimately want to request 15 minutes of their time for a short phone call, or suggest that if they are busy, you would welcome the opportunity to speak with HR or their recruiting director. Ask intelligent questions to these people, and certainly do your research. At the end of the call, thank them and close with 1) I want to work for your company 2) it is the natural progression for me given my high interest in real estate investment and strong dealflow at the firm/other logical reason to explain WHY that firm and only that firm is best fit for you.
Follow up on a week, thanking them for the call and for helping you to confirm your interest in the company. Then, a quick 2 sentences about what you bring to the table/WHY YOU. Don’t use generic fillers that could describe anyone interested in real estate. Be genuine and unique. Lastly, request an opportunity to interview and provide some days/times you are available ideally (2 windows per week, starting 2 weeks out from day of your email). Then, you wait and let the cards play out. But don’t put all your eggs in one basket, so go out and hit it hard and run this system on all the shops you want to talk to. If you’re ignored, follow up every 1-2 weeks, but if you go 0/3, just move on to shops that are giving you time of day. Good luck man.
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