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+79 | LP coming into deal at higher land basis. How to model returns to GP? | 17 | 21h | |
+71 | Major Decisions | 13 | 19h | |
+65 | Increasing RE Industry's Cash Compensation, Collectively | 42 | 4s | |
+28 | Niche down to an operator or stay an allocator | 9 | 2d | |
+24 | Breaking into CRE late 20s | 7 | 3d | |
+22 | Self Storage ECRI | 9 | 2d | |
+20 | Doom Loop or Creative Urban Reemergence? | 3 | 5d | |
+19 | Thoughts on joining an early-stage REPE fund | 6 | 14h | |
+18 | How to get good at RE Modelling? | 14 | 1d | |
+18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 3d |
Career Resources
Cold call, most of the cre guys I know didn't have any RE experience when they got in, and you at last have some.
Although anecdotal that makes me feel a little better haha...anyone else care to shed some light?
I think you should first figure out what exactly you see yourself doing (brokerage, development, repe, etc.). There are many ways to be involved in real estate. An analyst at JLL will not do the same work as one in LNR. Give us your end goal and we will assist you.
Have you looked into a masters in real estate? You already took the GMAT. You're interested in real estate. Look into a few programs in your area. WSO has a lot of info on real estate programs. Think about it.
Brother you had more experience than I did and I got into a CBRE/Colliers/JLL/HFF level firm. You'll do fine - you just really have to network your ass off and be borderline stalkerish to get that interview.
I wouldn't play up your residential experience, though. There is a high level of disdain and disgust among commercial brokers & agents for residential agents, mainly because most residential people are absolutely retarded. I would just say you have your license and have transaction experience.
Honeslty you should be aiming to be a broker if you're going toward JLL. You're overqualified for research. I had no experience 6 months ago and now I'M overqualified for research. Moving to the front office next month.
Thank you for the responses gentleman. Anyways to answer your question fez, I am most interested in doing repe, so I figured applying for an analyst position would be my best bet? Does repe not follow a similar lateral path as IB (analyst > associate > vp >md)? Development sounds interesting but I really do not know much about it. In what sector do you work in?
CRE, can you go into a little more detail on why I should be seeking a broker position? I realize that with my relevant experience in sales that it would be a positive for me getting the position but to be honest I liked the idea of moving out of the sales realm. Not to say I don't love sales I was just hoping that experience gained in repe would be more transferable in case I wanted to move over to IB in NYC in a re division or have a shot at working at a reit. Also, do you have any tips in "networking my ass off" haha. I figured shooting out some feelers on linkedin to alumni at the companies would be a good start.
Additionally, is there anything you guys recommend I should begin learning about cre to heighten my knowledge in the event of an interview/meeting? I don't think I will sound completely clueless because of my knowledge of res re, but I know relatively nothing about the commercial market.
Really appreciate the time and responses guys.
REPE follows that path generally, but there are more ways to lateral in and out than in banking
I based that off of you saying JLL, a brokerage firm. If you do research at a brokerage firm, it's really an entry-level back office role. I was just trying to get you the most bang for your buck, if you will. You're overqualified for market research.
Now, if you're looking to do REPE or especially IB...JLL might not be your best move. It's certainly a big time brand name, but unless you're working in capital markets or something it's not exactly transferable skills.
"How to Succeed In Commercial Real Estate" by John Bowman is a classic. Reading market reports by CBRE, Colliers International, JLL, HFF, etc. are good sources too.
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