I'm in my mid 20's, have $30,000 dollars to my name, a salaried job, and a bachelor's degree. I want to become a mixed unit developer. How can I lay out the next 10-15 years to make that happen?
I currently work as the leasing portfolio manager for a large corporation.  Been doing leasing / management for about 6 years.

Not a construction guy but I'm good with people, do well on the phone, and have strong project management skills.
[{"id": "fjo43y1", "text": "There is many ways you could approach this. \n\nOne way would to do it would be starting a masters in real estate development degree (MRED). That would add some ammo to your resume and skill set. Then from there I\u2019d seek getting in with a smaller development group (less than 10 people) that has done a few larger projects but is still growing. \n\nThat\u2019s what I would do. It\u2019s a long road but you know that.", "replies": [{"id": "fjoaa2i", "text": "What about a MS Finance or an MBA from a good school?  I have a couple options I could reasonably expect to get into", "replies": [{"id": "fk1allz", "text": "MBA from a school with a decent reputation in the industry would be good.\n\nThe thing about dev groups that's tough is unless you've got an engineering or architecture background, usually you're just going to be the numbers guy for a long time (if it's not a lean team, it could be forever). It will be a long time before you start to learn the actually development side of things beyond \"does this make sense economically?\".", "replies": [], "depth": 3}], "depth": 2}, {"id": "fjobvjo", "text": "&gt;Then from there I\u2019d seek getting in with a smaller development group (less than 10 people) that has done a few larger projects but is still growing.\n\nThis is the right answer.  If you want to get into development you need to have EXPERIENCE.  Most Lenders won't bother looking at you without a resume of experience proving to them that you know what you are doing.  The education helps but nothing replaces experience.  You will get the experience with the group and then look for smaller deals with smaller and smaller groups until you are ready for your own.", "replies": [{"id": "fjoe1rn", "text": "I'm thinking this is the most correct answer I've seen so far.\n\nWhat hard/soft skills should I emphasize when trying to land a gig with a developer?  Like I mentioned I've been in RE for 6 years now, I know how to calculate cost/sf, NOI, very familiar with the process of a commercial lease.  Thanks!", "replies": [{"id": "fjses1x", "text": "A developer has to have capital and expertise. If you can raise capital using connections and charisma, you can add value. If you have development experience or a deep understanding of a geographic area or CRE product niche, you could also add value.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjo5d63", "text": "Bang as many chicks as you can and travel. Be a wild horse my man. Don\u2019t be a corporate hog.", "replies": [{"id": "fjo7ijv", "text": "Haha what the hell?", "replies": [{"id": "fjod7u6", "text": "A fine suit will do. No hat you are not a cowboy.", "replies": [], "depth": 3}], "depth": 2}, {"id": "fjo8qcv", "text": "totally agree", "replies": [], "depth": 2}, {"id": "fjoa563", "text": "Thanks, this is the type of advice I am looking for.  Black or brown cowboy hat though?", "replies": [{"id": "fjolvl6", "text": "Brown. Definitely not white.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjo6l1x", "text": "Is there not a lot of money in being a leasing / portfolio manager? I\u2019m graduating college soon and trying to go into Commercial Leasing Agent roles. Any enlightenment you have on this would be GREATLY appreciated.", "replies": [{"id": "fjoaoik", "text": "I am not a broker anymore, which is what \"commercial leasing agent\" sounds like.  But brokerage is a great career.  \n\nI started off doing that but some other things got in the way and I left.  \n\nIf you're looking to be an agent I would pull up the Costar power brokers list in the market you'd like to work and start cold calling the companies listed in there about brokerage positions.  That's how I landed mine and I had 3-4 offers just a few months after I graduated.", "replies": [{"id": "fjobn5z", "text": "Damn I\u2019m gonna give that a shot for sure! I\u2019ve got one interview with Marcus &amp; Millichap in downtown Houston, but that\u2019s it so I\u2019ll for sure try that out. Thanks!!", "replies": [], "depth": 3}, {"id": "fjoevt8", "text": "How\u2019d your first few years salary wise look, and what are you up to now career wise?", "replies": [{"id": "fjof8th", "text": "I didn't do brokerage long enough to have a meaningful response, but I can tell you about the other guys at my firm.\n\nEight guys age 23-30, two guys in their early 40's.  50/50 split with the broker that gradually moved to a 100% keep for the agent.\n\nThe 23-30 year olds were all netting between 100-350,000 by their third or fourth year.  The guys in there 40s were doing better than that.  \n\nThe money is no joke.  But they grind hard, full suit and 50-60 in person cold calls per week in your assigned market.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjo8bg5", "text": "work with someone like me and help them raise money for deals. Over time you will get paid and get experience.   save your money . If you want to call a list of accredited investors and raise money for my fund ( 100% c omission job ) send me a PM", "replies": [{"id": "fjoa8cp", "text": "I'm interested in doing that. I just PM'd you.", "replies": [], "depth": 2}, {"id": "fjoqfhc", "text": "Can I ask what kind of commission a job like that pays? Generally not specifically to your deal.", "replies": [{"id": "fjp6cju", "text": "Depends on the size of deal, and the acquisition model of the investors. If you are good at it and your boss makes lots of acquisitions, you are going to make 200k+.  3rd party capital raisers typically get paid 3-10% of the amount of funds raised,  so you got to figure an inhouse person is going to get less. You can definitely make more as a commercial broker, but you are always going to be on the other side of the table, so to speak.", "replies": [{"id": "fjwv219", "text": "If the deals are good and the seller credible they sell themselves. It's all about the rate of return. It's got to be the easiest selling in the world.", "replies": [{"id": "fjwvrs4", "text": "Ah but according to SEC rules you are not allowed to market specific deals. IE i cant blindly call up people and pitch my deals.   You have to have a relationship with the investor to solicit funds for a specific deal.  \n\nSo we call up investors and are like hey would you be interested in going in on a deal?  Then later we call up people who have existing relationships with and offer them a specific deal.  Thats how you stay compliant.  \n\nand asking someone for $50,000+ is never an easy sale, ever, not even once.     Accredited investors are smart people.  They dont just open their wallets for anyone, That's why they are accredited investors.. .", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "fjs7u9u", "text": "This is interesting to me as well. What are the qualifications for work like this?", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjo9d1y", "text": "Following. I would also like to know. I'm in a similar position to you.", "replies": [], "depth": 1}, {"id": "fjoavfd", "text": "The book \u201cRaising the Bar\u201d by Gerald Hines presents a good road map.  He started small with industrial in Houston and grew from there.", "replies": [{"id": "fjoq2jn", "text": "Wow, he's accomplished.  Thanks for the suggestion", "replies": [], "depth": 2}, {"id": "fjtidl5", "text": "As much as I love and respect Mr. Hines, I am not sure his experiences getting started in the 1950s is really possible to duplicate today.", "replies": [{"id": "fjuxivv", "text": "True.  Every person\u2019s experience is unique. But it does help seeing how starting small can snowball into something larger.", "replies": [{"id": "fjuzsb6", "text": "The thing you should take away from Mr. Hines is he went big on office during a time period where the US workforce went from 10% office using jobs to 25% office using jobs.\n\nHe was successful because he was riding a very large wave in demand growth.\n\nTo go from a small time developer today to something huge 30 years from now, you need to figure out what the next big wave in demand will be.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjoq6q0", "text": "If I was you I would use the 30,000 and house hack with a multi-unit. Live in one unit to get the low down payment for one year. Fix up the place. Re-Fi and repeat.  I would go the multi-unit route because it's so much easier to build up a portfolio. If I had started at your age I would be a multi-multi-multi millionaire by now.   \n\n\nBuilding a portfolio of multi-unit will give you the leverage you need later to branch into other areas.", "replies": [{"id": "fk4aqer", "text": "100% this - start small and grow. Forget about school and get your hands dirty. Very few are successful at vertical construction with no background. Buy a 4 unit property and add some lipstick, cashflow, sell, repeat.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjp4unn", "text": "Get a rich father", "replies": [], "depth": 1}, {"id": "fjph6cg", "text": "One cool thing about having 30k, is that if you can increase you're net worth by 6k a year via working, you are getting 20% gains on your net worth / year. \n\nSo stay focused on keeping the income coming in and try to see if you can find a small project you can get involved with and you could easily have a first property in the next few years.", "replies": [{"id": "fjyra3c", "text": "This is incorrect math. Year 2 he\u2019d have 36k, so additional 6k would not be 20%", "replies": [{"id": "fkl21y3", "text": "correct you would have to increase each year but you could sustain this for years and at the point is by the time you've saved you're way out of being able to do this, you've drastically improved your financial situation.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fjpqspe", "text": "!remindme", "replies": [{"id": "fjpqu0d", "text": "**Defaulted to one day.**\n\nI will be messaging you on [**2020-03-08 05:22:07 UTC**](http://www.wolframalpha.com/input/?i=2020-03-08%2005:22:07%20UTC%20To%20Local%20Time) to remind you of [**this link**](https://np.reddit.com/r/CommercialRealEstate/comments/fehcno/im_in_my_mid_20s_have_30000_dollars_to_my_name_a/fjpqspe/?context=3)\n\n[**CLICK THIS LINK**](https://np.reddit.com/message/compose/?to=RemindMeBot&amp;subject=Reminder&amp;message=%5Bhttps%3A%2F%2Fwww.reddit.com%2Fr%2FCommercialRealEstate%2Fcomments%2Ffehcno%2Fim_in_my_mid_20s_have_30000_dollars_to_my_name_a%2Ffjpqspe%2F%5D%0A%0ARemindMe%21%202020-03-08%2005%3A22%3A07%20UTC) to send a PM to also be reminded and to reduce spam.\n\n^(Parent commenter can ) [^(delete this message to hide from others.)](https://np.reddit.com/message/compose/?to=RemindMeBot&amp;subject=Delete%20Comment&amp;message=Delete%21%20fehcno)\n\n*****\n\n|[^(Info)](https://np.reddit.com/r/RemindMeBot/comments/e1bko7/remindmebot_info_v21/)|[^(Custom)](https://np.reddit.com/message/compose/?to=RemindMeBot&amp;subject=Reminder&amp;message=%5BLink%20or%20message%20inside%20square%20brackets%5D%0A%0ARemindMe%21%20Time%20period%20here)|[^(Your Reminders)](https://np.reddit.com/message/compose/?to=RemindMeBot&amp;subject=List%20Of%20Reminders&amp;message=MyReminders%21)|[^(Feedback)](https://np.reddit.com/message/compose/?to=Watchful1&amp;subject=RemindMeBot%20Feedback)|\n|-|-|-|-|", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjrj1i7", "text": "I currently work on the development team for a major developer. The first thing you need to do is starting to think about scale and types of projects. Do you want to do value value add, ground up, etc. keep in mind If you want to do large projects, you need large project experience. If not, then this advice will be less relevant. \n\nThe best way to get large project experience is by working for a large developer. Getting one of these jobs is a challenge as developers run incredibly lean and only need a very small team in house. I would consider either a MBA or MS both with strong real estate programs. Getting my MBA was a huge help for me as it broaden my knowledge base. In order to do large scale development there are a lot of different pieces of information that you need to be familiar with, legal, zoning, finance, construction, leasing, etc. these programs will help increase your knowledge in all of those areas. Developers hire consultants in these areas but as the developer you need to be familiar with these areas to adequate manage these consultants. \n\nYou need to start networking as much as possible. That\u2019s the only way to get an introduction to these firms. Lean on your leasing contacts. You should be able to meet the right people. While networking you should be familiar with your target market. Read all of the trade magazines understand big deals that are going on etc.", "replies": [{"id": "fjtf8qc", "text": "Great response.  Thanks", "replies": [], "depth": 2}], "depth": 1}, {"id": "fjt54mx", "text": "Take a look at the risk/return chart for the path that you are thinking about.  Developers win big, but they also lose big as well. Try and get in with an institutional type firm or even a small one with deep pockets.\n\nhttps://learn.realvantage.co/language/en/investing-in-real-estate-know-your-spectrums-first/", "replies": [], "depth": 1}, {"id": "fjvm71t", "text": "You have 30k in liquidity sounds like your off to a good start. I would just invest that passively into a syndication or if you feel confident in acquiring and managing your own deal buy something small like a 2 family or even a single family rental. You can refinance it after a couple years and put that equity towards another deal if you save up in the interim. Build wealth. Don\u2019t get stuck thinking about something 10 years down the road. You will know when you are ready for that and have the funds to make it happen.", "replies": [], "depth": 1}]