Positioning oneself to get into commercial real estate when about 30 years old
About me: Recent law school graduate (J.D. from a solid school).

I want to get into commercial real estate in some capacity. I enjoy sales so brokering might be a play but I would probably want to learn the fundamentals of the business in some other capacity first; underwriting, appraising, building management etc. A real estate development project management role would be extremely stimulating to me too.

BUT: I just got a job offer that has nothing to do with Real Estate in the slightest. I think I am going to take it because I cannot say "no" to the money for now.

My question is how do I improve my prospects of a careers switch into commercial real estate in about 4-5 years when I have some money saved up? Should I join some clubs or boards? Night school?  Is it possible? Recommended? I'd be around 30 years old.
[{"id": "clh6bbo", "text": "Your age has nothing to do with how successful you're going to be in CRE.  My dad didn't start till he was 38 and does well.  Look into taking CCIM classes. They are very time consuming and a little expensive but will give you the confidence and knowledge your gonna need. Don't expect to make any money for 18 months, ZERO. \n\nIn regards to clubs, etc.  Its a sales job, networking is your best tool, so yea join clubs and real estate boards. Also, work for a brokerage firm that will allow you to shadow somebody that's experienced from day 1. Ask questions.\n\nHope this helps.\n\nEdit: In regards to \"learning the fundamentals\" go get your license.  There are people who worked full time jobs and studied for it and passed easily.  Take a pre-license class, study up take the test and go from there. ", "replies": [{"id": "clhzuja", "text": "Thank you.  I save up before I make the switch and also start networking early", "replies": [], "depth": 2}], "depth": 1}, {"id": "clhai7p", "text": "I am a bank Commercial &amp; Industrial underwriter. However, I have done a lot of CRE underwriting in my past. As far as training is concerned, one of the best courses I took early in my career was the basic appraisal principles given by the Appraisal institute. It gave me a solid foundation. I would think that if you want to get into the brokering side, a class like that would be great.\n\nIf you lack time or money, you can probably get the same information from a couple of books if you do your due diligence and find some comprehensive ones.\n\nIn five years, the decision to switch careers might not be as tempting. The fact is by then you should be making more money in your profession and you might reconsider switching.\n", "replies": [{"id": "cli23kn", "text": "I originally got into appraisal just to build a foundation for brokerage.  8 years later I'm still appraising.  The fundamentals of appraisal book published by the institute is the perfect foundation.  I would also recommend their advanced courses, or just the materials, on market analysis and high and best use, as well as advanced income capitalization.", "replies": [{"id": "clj17dg", "text": "Why are you still appraising?", "replies": [{"id": "clj1hvw", "text": "Because it pays really well and my schedule is flexible.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "clhkmu9", "text": "With a JD, I would look into corporate real estate.  Look for roles titled \"transaction manager\".  You are basically the middle man between the brokers and the corporate client.  No sales, but lease negotiation is involved.  It's how I started my career, and lots of my coworkers were former attorneys.  Great job.", "replies": [{"id": "clhzuhz", "text": "Thank you.  Did any of your coworkers switch into full time brokering roles?", "replies": [{"id": "cli1zl8", "text": "Yes, but only tenant representation.", "replies": [], "depth": 3}], "depth": 2}, {"id": "clis2s2", "text": "Agreed. I am an office tenant rep and our team has a transaction manager that is invaluable to our success. You need to be very detail oriented and organized.\n\nIts a salaried role, so your upside is capped, but teams will usually give a bonus to their TM at the end of the year. Plus, you learn how to do a deal and can move over to the brokerage side if you are willing to take the enormous risk.\n\nPersonally, however, I started out in property management. Its a great way to learn how buildings work structurally and financially. Plus, you are working alongside brokers all the time and can form relationships and potentially get picked up as a junior broker as I did.", "replies": [{"id": "clj18qe", "text": "&gt; the enormous risk.\n\nWhat do you mean?  Clearly you took it.  How long were you working in property management before you made the jump?  And you immediately start earning some money? ", "replies": [{"id": "cll3od3", "text": "I was in property management for about 2 years. The risk comes from a lack of consistent income. The typical commercial deal cycle lasts anywhere from 6-18 months or longer, so starting out is very difficult. You can expect to make very, very little for the first 2-3 years.", "replies": [{"id": "clmuoan", "text": "In re risk: it's really hard to make a deal. There are a lot of brokers with more experience than you. I'd agree with westorstterone26's point that PM can teach you about the business. But the real key is to be able to develop relationships with companies or people who will hire you. If you aren't able to make people like you and more important trust you, you are not going to have a good time in CRE brokerage. ", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "clhm1eq", "text": "I was studying the LSAT and I come from a family of attorneys (3 brothers and my dad) all said the same thing, don't be dumb get into CRE. It is not uncommon for lawyers to jump ship after a while and get into CRE...They see what these brokers are making for the work required and compare it to their own schedule, not saying we don't have long hours or put in a lot of time but my life compared to my families is much different.\n\nAnyway, just network with companies while becoming an expert in the CRE law area... My one brother has made quite the name for himself and pretty much every residential real estate agent that is active knows of him. Now, I would not recommend residential work but find a niche in CRE to become an expert at, teach classes at your local real estate school. Then after a few years, you should have a good name for yourself to approach any of these major companies. I am located in AZ and one that pops to my mind with a JD would be Cole Capital, I think they would be right up your alley.... But, try and meet guys, take them to lunch or just grab a coffee (coffee is prob best). You talked about development, there are plenty of active guys, again a couple here in AZ would be Cole, RED Development, Evergreen Development, or any of the big houses (CBRE, JLL, etc.). I would look up a few development companies and browse through their contacts and just call a few about coffee. \n\nI got started in CRE 3 or so years ago and I just turned 30 in Feb, and age really doesn't matter. The important thing is just networking with local brokers in your field. ", "replies": [{"id": "clhq14p", "text": "AZ! We just launched /r/ArizonaCRE - come on over!", "replies": [], "depth": 2}, {"id": "clhzufw", "text": "Thank for the response.  \n\nI'll try and make it a hobby (outside of my soon to be non-real estate job) to learn the law of a real estate niche all while networking.\n\nAre you brokering right now?  How long did it take you to start earning money?\n\n", "replies": [{"id": "clo05jm", "text": "Sorry for the late reply... I am in retail, and retail is like the red headed step child of cre. You can make money the quickest in it but it won't be as large as other areas of real estate, unless you find yourself being able to sale the centers after you lease them up. I was at a boutique firm and we would always win listings and lease them up but when it came time to sale the center the landlord would go with a big guy...this sucked, curse it was a lot of money out of our pockets. I am in the process of joining colliers, and a team that lists centers for sale, because I was tired of doing all the grunt work for only a small piece of the pie. When I got started in retail, i started making money about 12-18 months in. First year may have been around 25-30k second year about 50, and now should be right around the 100 mark... Other sectors take a little bit longer since they are much higher dollar and numerous lawyers/parties involved. If I have a 1200 sf space in a shopping center, I will hit my common uses list and nearby businesses that size (ie.nail salon) and can speak right to the owner, who is usually able to finish a deal in a few weeks. So the checks aren't as pretty but can definitely make that up in volume. The real money in retail is tenant rep. Friend of mine took a sign call for a businesses first store, he ended up doing 27 more with them and easily taking in about 800k from just one client.\n\nAnd, I think retail is by far the least boring... Way more different tenant mix and shopping centers.\n\nSorry I might be all over the place writing this, I am under a ton of meds and cough syrup-the good stuff with codeine ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "clhsqnt", "text": "I would read literally everything you can about real estate and development in your market. Every city has a variety of online boards (curbed, skyscraperpage, skyscraper city, local boards, etc.). Make it your hobby to know about every development that is being built or planned for your town. Follow every step of the process, talk to other people that also have the same interest. That's the best way to learn it. \n\nCommercial RE is a very hard industry to break into because it really doesn't employ all that many people, but the people it does employ tend to be able to make a lot of money very quickly. \n\nYou are obviously smart if you have a law degree so I have no doubt in your ability to learn the industry. What you really have going for you is that you are set up to make good money. With a law degree you can probably very quickly save up enough money to buy a small commercial property and learn first hand. So I'd save up enough for a small multifamily or retail building and just jump in after you feel you've read enough about your local market to understand what locations are worth investing in.", "replies": [], "depth": 1}, {"id": "cpyxsrk", "text": "Learn commercial and investment banking from Dandrew Media. Then decide if it's worth t to become a broker, property manager or loan officer.", "replies": [], "depth": 1}]