Transitioning to CRE from Construction Management
-Hi CRE. I'm going to try to make this as brief as possible, but my situation is quite specific so I'll try to give some detail as well. Apologies, I am not good with reddit formatting.

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-I'm a 24-year-old construction management professional working in NYC. I graduated from a top 50 private school with a dual major in civil engineering/something else in 2015. I've been working on a large residential conversion project ($500M+) for a well-known developer over the last two years with my company on the CM side, however my company and the developer have decided to part ways. I was given the opportunity to continue working on the project with the new CM, which I accepted. I'll be starting in several weeks. Final TCO is projected in 3.5-4.5 years. I chose to remain on this project because it's well-known throughout NYC (for better or worse) and I have a great relationship with the client.

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-I'm interested in getting into real estate development, but I don't know the type of career path I should be looking into or what path I should take to get there. I was just admitted into NYU's MRED program part-time, and I am considering enrolling to start this fall. This would leave me with about $80k in student loans by the time the program is complete. The project I am on would finish up around the time I receive my degree and I could use my degree + experience working with a developer to possibly transition into a PM role at a developer. With that said, I don't think I'm interested in working on the construction side with a developer. I've always had an interest in the finance side of the industry but have never gotten a chance to explore that. I'm scared of completing this project, getting my degree and then having to start over in an analyst role that pays $60k, but I really believe that's where my interests lie. The ROI might not be there with the degree, however.  

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-I know this is a bit all over the place, but can you guys please provide some insight into the types of roles I would be able to transition into assuming I complete this project from the CM-side successfully and receive my MRED by the time I'm 28~29.    
[{"id": "dhn806a", "text": "What first comes to mind is you should work on the investment strategy side of a REIT- One specifically focused on value-add and redevelopment. A private investment company could also be a good fit, one focused on development or acquisitions. Find a growing market to work in. www.tradingrowth.com ", "replies": [{"id": "dhnsuvf", "text": "find me some CRE in Nevada, fam.  I want to Derive Value. Hedge Risk. Increase Liquidity. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dhnsqpm", "text": "school is no help in the RE biz. ", "replies": [{"id": "dhob2ex", "text": "Thanks for the comment. Do you have any advice or recommendations specific to my situation if you don't believe going back to school will be helpful in this transition?", "replies": [], "depth": 2}, {"id": "di3dvio", "text": "Totally disagree. I work for a big opportunity fund, wouldn't have gotten here if I didn't get an MBA from a school with a real estate program. That being said, I went to a top program - not sure if the ROI would have been worth it for an MRED or MBA from somewhere that wasnt too 10 w/ a big CRE alumni network. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dho3tzo", "text": "I did a similar move, went from a large GC where I was an Assistant PM with a civil engineering bachelors and started working for a developer as an owners rep/PM. I started getting my masters in real estate development before I changed companies and finished it at the new firm. Generally, it's been a good move for me. The construction and engineering background is a great combination with the business skills you get from an MSRE program. \n\nOne thing I noticed about the NYU program is that they do not have a development concentration. Have you considered some of the other MSRE programs with development or CM tracks? For example, I know an online MPSRE from Georgetown costs about $35,000.\n\n", "replies": [{"id": "dhobmlt", "text": "Thanks for the comment.\n\nNYU actually has two separate degree programs, their [MSRE](http://www.sps.nyu.edu/academics/departments/schack/academic-offerings/graduate/ms-in-real-estate.html) (MS in Real Estate) which is mostly geared toward finance, and their [MSRED](http://www.sps.nyu.edu/academics/departments/schack/academic-offerings/graduate/ms-in-real-estate-development.html) (MS in Real Estate Development) which focuses primarily on development.\n\nThe major draw for me to the NYU program is that 1) it offers the part-time option and 2) I can attend in person and network with professors/developers in the NYC area.\n\nIf you don't mind could you give me a bit more insight into your timeline? How useful did you find the program you attended in what you're doing today as an owner's rep?", "replies": [], "depth": 2}], "depth": 1}, {"id": "dho6em0", "text": "I'm graduating (today, actually!) from Columbia's program. It's a masters in RE Development, so it might be what you're looking for, and they give good financial aid which makes it about the same as NYU's program. Message me if you want to chat about the program.", "replies": [{"id": "dhob9or", "text": "Thank you, and congratulations! About to PM you.", "replies": [], "depth": 2}], "depth": 1}, {"id": "dhqlxnf", "text": "I bought my first storefront for less than $80k and have used that as my CRE training. Just a thought...", "replies": [], "depth": 1}, {"id": "diicjoh", "text": "I left a project management position at a large GC to work as a construction manager at a REIT around your age.  I'm just about to start a MSRED program as well.\n\nA couple insights:\n1. Try not to think of it as stopping your career as a construction manager and starting your career as a developer.  The transition from contractor to developer operates on a spectrum and you can make the transition over two years or 20 years. \n \n2. Look for companies who manage and hold real estate as well as those who develop and sell.  Older buildings require constant construction management - capital improvements in residential and capital/tenant improvements in office.  These smaller projects require construction management positions which bridge the gap between being a contractor and developer.\n\n3. Use corporate websites to look up the management teams for large developers, owners, or operators of real estate in your market.  You will find many backgrounds (architecture, contracting, urban planning, pure finance) and many Masters degrees (MBAs and MSRE/MSRED degrees).  I think the Masters is important, but not an absolute prerequisite.  You will also find that while working for a real estate developer or owner, your employer is much more likely to contribute to your education as well.  ", "replies": [], "depth": 1}]