MIT MSRED
I'm thinking of applying to MIT's MSRED program after college graduation. Does anyone have any insight on what they consider relevant work experience?
Upon graduation of my undergrad I will have 4 years experience in the disaster restoration industry. 2 years owning my own business and 2 as a team leader/marketing and sales for a large company. I've sold, organized, and executed several 6 figure jobs on office buildings and factory buildings worth 10 figures. Nothing can kill a investment propriety's ROI like a disaster handled the wrong way.
Industry certifications:Mold Remediation Contractor, Mold Inspector, WDR Contractor, Fire Restoration Contractor, Certified OSHA Health and Safety Inspector.
Will any of the above help with the MIT admissions process or is development and finance considered the only relevant experience?
From my understanding, they do not want to bring on a lot of "finance" people. I believe the website clearly states that VERY FEW finance companies recruit there. I think its work applying since you have FT work experience.
What post MSRED roles do you want?
Real estate IB or REPE, I would like to do REPE and focus on making existing properties more valuable. If I had to do IB to get there that would be fine. The reason I'm considering this type program over others is I feel like my work experience is more relevant to it.
So asset management at an REPE firm? A lot of REPE firms joint venture with RE operators for deals that require a more asset intensive approach. Its difficult to generalise though.
Have you considered/Would you consider other RE owners like REITs, or some of the larger private RE companies? They tend to be a lot more hands on. You'll probably have to network a lot to get into these kind of roles.
For acquisitions people REPE firms much prefer investment banking or RE acquisitions experience. At the junior levels they usually hire people with 1-2 experience. At the post MBA level they seek people with prior REPE experience. I'm not sure how it is for asset management focused roles (harder to generalise as many REPE firms are more financially driven as opposed to operationally focused).
The MIT MSRED definitely seems like its more focused on people who want a career in RE as opposed to finance. The curriculum looks great, but I think you will need to network a lot to get into the kind of role you are looking for regardless of what programme you pursue. You should certainly broaden the kind of firm you target (not just REPE) if you want to be doing meaningful work on the asset side of things.
I would definitely consider a job with REITs or a RE company. I know I want to work in real estate I'm just not sure in what type of role yet. Finance seems interesting, but I wouldn't mind other roles at all.
Does anyone know if MIT CRE considers my work experience relevant?
Call them up?
I sent them an e-mail, sent one to Johns Hopkins also. No reply yet.
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