Hey everyone. I've posted on here many times and have always received great advice/insight, hoping for the same.
I've just been accepted into the Hopkins MSRE & Infrastructure program. My goal is to work in a capacity that invests or advises on investments in South America. I know there are REITs and REPE firms doing work down there, and in regards to infrastructure, I've been finding firms/advisors doing work in transportation/energy/mine development based out of DC, NYC, San Fran, and London.
Before getting the acceptance letter today, I was researching volunteer opportunities, RE firms, and impact investment firms in Bolivia that I was thinking of trying to become involved in. I figured if I had 6 months-1 year of experience down there, then came back up here and went to something like Columbia's MSRE or International Finance program I would be in a better position to get hired by a PE company in the US doing work in South America. Also for reference, the Hopkins program requires a several finance/econ/stats courses.
So the question is a matter of which route would allow me to achieve that goal? A masters in RE/infrastructure finance early on, or 6 months- a year of volunteering, or maybe an internship in the region prior to obtaining an advanced degree.
This is a very specific question, and I have not seen many people post in depth about South America or infrastructure, but I wanted to see what the community thought.
RE experience>MSRE>volunteer/internship.
What exactly is it that you want to do with regards to LatAm? (Development, REPE, brokerage, etc.) Are you fluent in Spanish/Portuguese? If not, I would focus on that first. What countries/region are you interested in (Brazil, Colombia, Paraguay, or maybe Andean or Southern Cone)? Are you up to date with the macroeconomic trends?
Realize that the RE industry in Brazil is completely different from say Bolivia. There is more activity in Brazil than Bolivia. Brazil actually has American shops (REPE, development, brokerage), unlike Bolivia.
Give more details on what exactly is it that you are aspiring to do.
Thanks for the reply. I would like to eventually work in RE or Infrastructure PE.. Or some capacity that is involved with PPP's in urban development, or infrastructure development. I just view infrastructure and real estate development as being able to have huge positive economic impacts, while also being lucrative for myself. There are different ways to become involved in this, so I'm looking around to where I can get my foot into, and will keep moving from there.
I know the industry is different because of government/regulation issues, but the main reason to go down 1-2 years out of undergrad would be to master spanish at a business-proficient level. Also, many of the people working at companies I would like to work at have had some kind of experience in a different country before getting their current job.
In short, development/repe in Andean countries... I try to read up on macro trends, news, politics. So what do you think?
Appreciate the insight.
My best friend is from Bolivia and I've invested in Bolivia--it's maybe the worst country ever in the history of the world to invest in unless you're corrupt as hell. Our investments went south even though my friend's dad is the equivalent of a powerful senator there. Why on Earth would you pick that country to invest in?
Damn, I'm sorry to hear that man. Yeah, the environment sucks, especially for Americans- so I hear. But there are investment/development firms. My family owns a RE development company, but the systems and procedures are very, very primitive compared to here. I would only go for the experience, learn to speak spanish at a 'business' level, etc. The goal would be to then leverage that into a role that is investing in other countries down there. But eventually I would love to help support economic development initiatives for them in the space of infrastructure/RE development.. maybe some kind of affordable housing scheme, because none have been able to work so far.. Idk, thats what the MSRE would be for.
Also, I have a family friend who works for the inter-american development bank, so I figured they would have good connects. Another family friend has experience in micro-finance down there, and another one actually started an 'impact investment' fund. WB also has a huge infra initiative down there.
Regardless, the reason of going down there would be to gain a some lines on a resume saying I have international experience, as well as becoming 'business' fluent. So the question is, which route would be more valuable towards the end goal.
Out of curiosity, could you elaborate on your experience? Did you buy/develop RE? I was reading a British PE forum, and they were literally painting the opposite picture. Saying the environment was greatly improving, and now or the near future would be the time to invest, especially in energy/mining development....
To add to your comment though, my grandfather is from Missouri and was a VP at his firm. He was involved in a deal that would privatize a utility, and one day the government basically seized everything...
It was an import/export business. We were able to recapture our original investment basically because this powerful politician used his connections to get us our original investment back.
I'm sure there is a ton of money to be made in Bolivia so long as you're willing to bribe your way to the top, which I'm sure the British PE guys are happy to do. Unfortunately, Bolivia is a pseudo-Marxist vacuum of business opportunity--there is no rule of law. You can make the most brilliant investments on Earth and lose everything because the government decided your bribes weren't big enough or because the government refuses to enforce contracts or prosecute thieves.
REITs? REPE firms? Laughable. Bolivia is a tiny backwater shithole. I'd look at several other LatAm countries (Colombia, Brazil, Chile ...) before that one.
But Bolivia does have a good number of outrageously hot women in the upper classes.
@"DCDepository", very hot. But the culture is way different than here in the way you speak/act/engage them.. so I've found..
@"prospie", yeah, going to Bolivia would just be to gain 'international experience,' before coming back up here and entering a program.. then hopefully experience+MS or MBA= working in the field I want. After speaking with several people I think I'm going to get the degree first.
Also, @"prospie", do you have any experience doing business in the region?
Good luck lining up capital partners to go into Bolivia.
Dude, Bolivia is a shithole. Believe me. Do you honestly believe an American, Brazilian, Mexican or Colombian RE firm will be impressed that you worked in Bolivia? Hell no. They'll laugh at you. Bolivia is a mess. The Girls are hideous (yes, even upper class chicks). There is absolutely nothing in Bolivia. If you're seeking a spanish speaking country, consider Colombia, Chile, Mexico, etc.
Not trying to sound mean, but the fact that you're considering Bolivia shows me that you know next to nothing about South America (and the rest of Latin America for that matter). If you're seeking valuable experience Bolivia wont offer anything. That is the last place an investor would consider. That's a fact my friend. I would rather work in Venezuela than Bolivia...
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