Real Estate Analyst Career Change
I have over 4 years experience as a property accountant in both residential and commercial real estate in one the best companies around the world. I am looking to transition into a real estate analyst career and will be completing my professional certificate in real estate finance and investments at NYU, coupled with a completed course in ARGUS, in December 2011.
Can anybody add some advice on the best way to transition to this career? I am thinking of going for a MBA in finance or a real estate analyst program at a top company. Is the MBA really necessary?
Also, if anybody could add some feedback as to why people go for their MBA after completing one of the real estate analyst programs, it would be helpful.
Thanks!
what about a Masters in Real Estate from NYU or a top school? I'm sure that'll help.
MBAs get paid more, it's really that simple. And if you look at the payback calculations, it usually only takes about 3.5 years to re-coup the cost.
http://www.forbes.com/lists/2011/95/best-business-schools-11_rank.html
As far as real estate goes, I have a fairly lengthly article on the industry here:
http://www.lifeonthebuyside.com/kicking-the-bricks-real-estate/
Hope that helps.
^^^That's great info!
Thanks! This was a great article.
What type of analysis are you looking to do? I am assuming acquisitions-type analysis. However, I think asset management-type roles would suit you better given your exp. The jobs outlook for asset managment is still a little better than acquisitions.
I am assuming you have a basic understanding for real estate finance and Argus. How's your Excel exp?
An MBA may or may not be necessary depending on what type of role and firm you are targeting. IE you would need an MBA to transition into a legit PE (Blackstone/Carlyle Group) or top REIT (Vornado) with your exp but not to break into a strong regional owner/operator.
Either way, finding entry-level work is still a challenge. The job market has yet to absorb the talent that was laid off recenlty and there are people with more exp than you who would probably take the same jobs you are targeting.
My excel experience is above average. I've learned financial modeling at my NYU classes and I am interested in acquisition. If I have the opportunity to become an analyst with residential properties versus commercial, do you think I should just take it just to get into real estate finance?
I would recommend that you keep your options open to asset management if and only if you cant find a good role in acquisitions.
Residential real estate isn't much of a challenge to model in contrast to commercial. I would reccomend you (and anybody for that matter) to seek the most challenging opportunities. You want to learn as much as you can at this point in your career, and that means challenging yourself.
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