Would an MSRE be good for my situation?
I was just admitted into Gtowns MSRE program. I currently work in Development as an Analyst. My firm is the in-house developer for a massive general contractor (think Gilbane, Turner, etc.). We mainly specialize in infrastructure projects. Some projects I've worked on consist of airports, arenas, affordable housing, student housing.
I want to transition into private development away from public. Also I currently work in a midwest office in a Tier 2/3 city. I'd also like to move to DC anyway as my firms HQ is located there and the majority of my college friends are on the east coast.
Given that I'm already in development and want to transition into a different asset type + move to a more prominent east coast city, does going to Gtown sound like a good idea? I imagine it wouldn't be that difficult to transition from infra to commercial dev, but thought an MSRE might expedite the transition??
Also, I would have to take out a loan of ~20k for what it's worth.
Thanks for any advice.
Definitely not worth it, especially if you need to take out a loan. You're already in real estate and have very relevant experience. Just keep applying and interviewing (although a bit tough in this market). An MSRE is for breaking into the industry. The only value the MSRE will have to you is 1.) having an "excuse" to be moving to the DMV when the interviewer asks you why you are moving there and 2.) Maybe a small network, but i'm sure if you were to send out some cold emails, people would respond to you even if you are not Gtown MSRE. If it's "FiNaCiALLL MoDeLiNG" you're after, just practice on your own because an MSRE won't teach you that...it'll only teach you what a cap rate is
Work in DC dev & acq… don't think you need it. I'm just on the deals and not the project side but I really think any young guy with actual development experience is a complete rarity and you should recruit just fine if you're normal/hardworking/presentable.
Sounds like you work for Edgemoor or something similar; almost all of my friends are in construction at Whiting-Turner, Clark, HITT, etc. They're all dying to move to commercial development, and they all try to break in where you're at on the in-house/infrastructure end.
Those are the guys that should consider the MSRE, MBA route.Still, it's not the worst idea, the degree definitely wouldn't hurt you. There are still people out there (especially in DC) that eat the education shit up. I went to a very non-target state school and have considered it just to boost my resume; but the actual decision makers have told me no one important cares. So I'd come here and exhaust all options via job hunt before you take a loan out.
[Relevant] Experience rules the roost in RE. Deeply focus on that, and everything else falls into place.
Bueller
Im kind of in the same boat. I am also in the Midwest at a Tier 2/3 city and want to move back to the east coast. My CRE experience is limited to small shop brokerage so I am also considering the MSRE to break into DC. Im sure that coupled with my deal flow experience will be helpful to break into bigger shops. It was hard enough breaking into CRE where I am now….
You're literally in a better position to lateral to a great REPE firm that funds development / value-add deals from your current role than you will be coming from a MSRE. Market is shit right now and idk much about DC, but generally any large coastal city on the eastern seaboard (Boston, NY, DC, Miami) is going to have a ton of local, regional and national Dev shops as well as your usual MM REPE suspects that exist all over the world.
Did you get admitted to the Masters in Global Real Assets at McDonough or the Masters in Real Estate through the SCS at Gtown? I am applying to both for next years term to get into the DC market and to transition from brokerage to REIB/REPE.
If you’re in brokerage you do not need an extra degree to get onto the principal side in DC
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