From Architecture to Real Estate
Hi.
I am 35 years old and I am an architect looking for an opportunity to switch to real estate. Ideally to development, but will equally be happy in any role within the industry. I have been educating myself by reading ULI books on development, real estate finance, etc. and have a good understanding of how things work. I also plan to get the ULI certficate in pro-forma modelling and later on get certified in Argus. Additionally, I plan to enroll in an MSRE program on a part-time basis in one of state schools.
The question is: what are my chances of making a successful transition at my age? I feel like it is either now or never.
I would also love to go for an MBA but I feel that I am too old to spend 2 years in school at this point.
The job locations I am considering are Charlotte and Chicago.
I would be grateful for any advice or feedback!
Can you get a job in development? Absolutely. With your current experience you'll be seen as the construction cost estimator or architect for most projects. Many development companies have these type of guys (my firm does). You can become the go to person for project costs/budget when development opportunities arise.
Now if you want to be in the deal team, that's another story.. A MSRE program would be a great option considering your age, IMO.
architects are engineers that can't count =) just joking, but seriously if you have the math aptitude - why not..
my ex-gf did. she was an architect who went to work for a client/developer. her main value add was the ability to (re) construct the space to optimal effeciency while keeping it aesthetically attractive... it took her a year to grasp argus developer and modelling simple dev. scheme. in excel... it's possible, if you willing to invest time into it!
JONATHAN SEGAL... SD'S FINEST
https://www.architectasdeveloper.com/home
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I'd agree with you on this. As an architect, if you already have well established relationships with developers moving over to the other side of the fence would seem reasonable so long as you posses a sound understanding of real estate finance and development fundamentals that can be fine tuned into expertise.
You should just reach out to a contact at a development firm you that have rapport with and just be candid with them and let them know you're thinking of going into development and you want their advice and feedback. I think the best advice you can get on how to break into development is from a developer.
Nobama 88,
That sounds like what I would ideally like to be doing.
No, I was not a lead architect on any projects yet - I am a mid-level project architect, typically working on specific parts of the project that I get assigned. And even though I am unlicensed, I do have a solid understanding of how buildings are put together. The projects where I gained my most valuable experience were designed for international locations and were mostly high-rise buildings. Great projects, but since they were built in other countries, I was not able to see them through to construction and thus have limited construction experience. But coordinating different consultants would not be a problem.
I took a bad hit during the recession and was forced out of the profession by the economy. I had to work in sales for several years before being able to get back into my field. (But I did learn Excel and a bit of accounting at that sales job.)
So, my idea is to position myself not as an experienced architect, but someone with an architectural background who is a LEED AP, with international experience and who is a generalist who can wear many hats like you described.
As for contacts among developers, unfortunately I do not have any direct ones, which is why I want to enroll in a MSRE program in order to develop a network.
This is probably not worth much, because this guy came up decades ago, but a close family friend of mine started out as an architect, then worked in office leasing, and is now one of the biggest mixed-use developers in a major metro. Naturally, he places great emphasis on creative design, land planning, etc.
I work for a mid-size REIT and we have a couple of Development Managers that came from an Architectural background, no graduate degrees. The being said, we also have a small in-house construction team that has architects that do more of the design stuff (only 1 or 2 of them), which could be a good path to the Development gig since they work pretty closely (if you're looking at a company with a similar set up)
Hi everyone, I am looking for some help on researching architectural/design hourly rates (preferrably rates post-2009) for large-scale, public infrastructure projects such as airports, roads and tunnels. Do you have any informative sources? Web sources, books, publications?
Thank you!
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