Best way to break into CRE coming from a computer science background?

Hi, so I have a Computer Science degree from a state university and about 5 years of work experience in tech - unrelated field, I know, but is there a way to leverage this if ultimately I'd like to get into real estate development as an entrepreneur? Would brokerage be the best starting point?

Related question in terms of location: Would a major, higher COL area with higher property values be a better place to be in CRE long term or a higher growth but comparatively lower priced/COL area like TX or FL?

 

To your first question, if you have a good brand name from your tech experience I think you could get a foot in the door for interviews if you network, but slim chance by just submitting resumes. CS is a tough degree that people respect, so that helps. I think research is probably your best bet, maybe think of and pitch some ideas for how you can bring your programming skills into that area (webscraping and data mining is becoming big in research and forward-looking firms are bringing in people with programming languages under their belt).

On your second point, depends what you want to do. Do you want to work for a big name REPE/REIT/OpCo? Then a major, higher COL area for sure - those guys typically work out of major hubs and have satellite offices with a small team (partner and support staff) in the high growth markets they're targeting.

If you want to wear a ton of hats and really get your hands dirty on a ton of different things by working for a local developer, then you're probably going to have a more exciting career in a developing city.

 

Thanks for the reply. For getting into REPE/REIT/OpCo - how much would just getting a cert help vs having to get a masters degree? I see an Acquisition Specialist position at a REPE in a mid-sized area that's caught my eye - does something like that lead well into development work?

 
Most Helpful

@CREnadian made really good points. A few I would add-on or double down on.

  1. CS is difficult, like engineering, so people won't doubt your mental ability. That said, a little CRE knowledge/certification could take you a lot further. You could go all the way with a MSRE/D, not cheap or quick but it would bridge you well if you play your cards right (so would a top MBA). You could do other online classes, not the resume punch like a grad degree, but it gets the knowledge across so you can maybe make it through an interview.

  2. I would avoid brokerage like the plague unless you like selling, you could work research/analyst type role, but you would probably hate it (I am really sterotyping, but they are true for a reason, if you feel different say so).

  3. Networking, joining some CRE organizations (like NAIOP and ULI) may be a easy first step. I'd also look up alum from your school in CRE, they would easy to talk to.

  4. While not a favorite of WSO world, if you like analytical tasks, commercial appraisal is not a bad entry point for development (at least as good as brokerage if you are smart about, sadly most appraisers don't get it). It's very open to new people, for a reason, but it is out there.

  5. Research/strategy (a dept/team/person at REPE/REIM/developers) also is analytical and will value your CS degree. It's tough to get those spots as there are not as many of the, but again with networking, who knows what is possible. The appraisal exp or grad degree could be a path, but its not that easy. (this is my field, as general fyi)

  6. This is a different course, but there are a lot of tech start ups aimed at CRE, you could join one of those ventures. That may not solve what you are looking for but it is a path that needs CS people. Of course, aim to be on business side and not a programmer (I mean or why bother right?).

 

Thanks for the reply, you've given me a lot to consider.

If I'd like to get into REPE/REIT/developers, how much would getting a real estate cert vs a full degree help out? Is a cert from a CRE org or a university regarded equally?

Tech is a great suggestion, however I've found over a couple of jobs now that it's not where my passion lies. I just went into it for the money

 
cstocre:
Is a cert from a CRE org or a university regarded equally?

No. Any certification, outside of Argus, is really for your knowledge benefit only, and none of them are going to get you a job over a MSRE/MRED/MBA.

Commercial Real Estate Developer
 

@CRE is pretty much dead on correct, "certificate" is not anything like a grad degree from a resume standpoint. In theory, same 'information' conveyed but honestly I don't think you learn the same way when really forced to do projects, attend class, take tests, etc. Certs are more like seminars (some have good projects/homework, but really on you to do, and little consequences for bad performance, so most don't take as serious).

To your question about CRE org (like NAIOP/ULI/CCIM) vs. university certificate (NYU/MIT/etc), I am not sure. I think every person probably views them differently. I'm in NYC, and honestly I'v seen many people with NYU real estate certs on their LinkedIn profiles like they are grad degrees, I know better and I think most people do. That said, I personally think the university ones have some slightly higher regard, but I wouldn't make that the fact of picking. Better to go with overall content/instructor/format/cost, etc.

In all blunt honesty, if you want to get into legit REPE/REIT/development (i.e. big institutional players), you really should look at MBAs and/or MSRE/Ds, on balance it's probably the most effective route for someone in your position. Still no guarantee, and it's expensive and time consuming. The 'cert' is more for you getting baseline knowledge and a way for you to test the waters to make sure you want to really do this jump, it won't likely get you a job all by itself.

If you are willing to work in smaller, no-name shops and startup type ventures, you may be able to network your way in. CS is respected, and effort matters. People do this and it can work, but it's not easy. You would absolutely take a big pay cut (at least short term) if you go this route). As I don't really know what you make, I can't compare to post-MBA type salaries. You would need to do an internship or something mid-grad school to really have the best shot at landing a legit analyst/associate type role upon graduation.

No easy path, but people have absolutely done it.

 

With 5 years of work experience in CS, you'd likely be taking a significant pay cut to transition to any type of CRE role. I like what @redever said about hopping in with a tech startup focused on CRE - there are a few of those around and you'd probably be able to get some equity participation.

Another option is to take your CS money and invest it in real estate. Do you want to work on multi-million-dollar institutional deals? Or are you just interested in commercial real estate as an asset class? If it's the latter, you could get your feet wet investing in a 4plex or similar with your own money. Jumping into CRE would probably push you back to 60-80k salary, so it's up to you if you'd like to make that switch.

I also just put together a broad summary of CRE investing and valuation for my classmate; I'd be happy to send it your way if you'd like. Just shoot me a PM.

 

Thanks, PM'ed you. Yeah that's true about the big pay cut. It's definitely caused me some hesitation on committing to this move. However, tech isn't where my passion lies and I'd like to eventually end up working as a real estate developer (I have this life long obsession with urban development/planning and I've always pushed pursuing this field to the back burner in favor of something more stable). So to answer your question I think I'm shooting for eventually working on multi-million dollar institutional deals

 

Might be worth doing some sort of urban development focused Masters if that's where your interest is -- most of the REPE stuff you'd be working on will be a little less interesting I'd imagine (e.g. acquiring warehouses/apartment/office buildings).

Even if you don't enjoy SWE, you're probably going to feel very frustrated moving to heavy Excel oriented roles when you realize just how lacking in all of the basic tools (e.g. version control) the modeling-heavy roles require.

On the subject of modeling, I think the Adventures in CRE modeling accelerator is known to be good for the basics -- its stuff you'll need to get up on if you enter a finance role, again, while its a useful cert, its just a cert.

 

Repellendus dolorum mollitia numquam. Dolor odio accusamus quis. Velit quisquam omnis nam possimus et magni. Optio porro eveniet eum velit et nesciunt magnam. Distinctio minus eaque facere. Reiciendis accusamus corporis aut velit sapiente eos.

Career Advancement Opportunities

March 2024 Investment Banking

  • Jefferies & Company 02 99.4%
  • Goldman Sachs 19 98.8%
  • Harris Williams & Co. (++) 98.3%
  • Lazard Freres 02 97.7%
  • JPMorgan Chase 03 97.1%

Overall Employee Satisfaction

March 2024 Investment Banking

  • Harris Williams & Co. 18 99.4%
  • JPMorgan Chase 10 98.8%
  • Lazard Freres 05 98.3%
  • Morgan Stanley 07 97.7%
  • William Blair 03 97.1%

Professional Growth Opportunities

March 2024 Investment Banking

  • Lazard Freres 01 99.4%
  • Jefferies & Company 02 98.8%
  • Goldman Sachs 17 98.3%
  • Moelis & Company 07 97.7%
  • JPMorgan Chase 05 97.1%

Total Avg Compensation

March 2024 Investment Banking

  • Director/MD (5) $648
  • Vice President (19) $385
  • Associates (86) $261
  • 3rd+ Year Analyst (13) $181
  • Intern/Summer Associate (33) $170
  • 2nd Year Analyst (66) $168
  • 1st Year Analyst (202) $159
  • Intern/Summer Analyst (144) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
Secyh62's picture
Secyh62
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
BankonBanking's picture
BankonBanking
99.0
5
kanon's picture
kanon
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
DrApeman's picture
DrApeman
98.9
9
GameTheory's picture
GameTheory
98.9
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”