Career in Real Estate
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[{"id": "d5ci2wr", "text": "Why are you still graduating in Fall 2017 if you decide not to pick up a minor? (Option #3)\n\nI currently work for a CRE investor/developer of shopping centers.  My last job was working for one of the large commercial banks in its commercial real estate lending unit.  I may not know everything, but based on my experience, here's what I think.\n\nPersonally I'd go with Option #1 if possible, and make sure you take finance and accounting courses to back up your knowledge.  And ditch the Master of Finance, IMO.  I think going into CRE lending is a good way to get some experience before jumping to development but banks often require you to be well-versed in the finance and accounting side of things.  You don't necessarily need a minor in these subjects, just take classes and know your stuff.  Know the basics of finance.  Know how the 4 financial statements relate to one another.  Learn about what a healthy balance sheet looks like and how to calculate relevant debt ratios/metrics.\n\nThe reason I choose #1 over the others is that it conveys that you have an interest in real estate and it lets you graduate sooner.  Honestly, minors in and of itself don't mean a whole lot.  You just need to show that you have the knowledge (and some minor programs require you to take needless classes).  You should start networking ASAP.  This is your best way to get a job and is worth more than the MSF or and minor program.  You still have a year so play the student card and take in as many informational interviews as possible.\n\nYou may or may not land in an ideal spot to start your career, but that's okay.  Find a job in the industry that gives you good experience and if you think it necessary, get an MBA or MSRED later on.  I'm not well-versed in MSF programs but I don't see many people with those degrees in the CRE industry.  If it's just a matter of learning financial concepts, take some courses and make sure you convey that you understand the basics of finance (IRRs, NPVs, etc.).\n\nGood luck.", "replies": [], "depth": 1}, {"id": "d5ct4nz", "text": "Don't get into commercial. Start with residential learn how to sell, then get into the big leagues. ", "replies": [{"id": "d5d6l5d", "text": "It is a monumental challenge to transition from residential to commercial.  Many of my friends have tried that fought and have no idea how to make the jump.  Further, working in residential is just that: residential.  Generally when you start in commercial, you are exposed to a wide variety of product types (office, industrial, retail, hospitality, and yes, residential).  So please explain how someone starting in residential for a few years be able to analyze and understand the nuances of other commercial product types after deciding to make the jump...", "replies": [], "depth": 2}, {"id": "d5hwcp9", "text": "This is terrible advice. Go directly to the big leagues. Don't mess around.", "replies": [], "depth": 2}], "depth": 1}, {"id": "d5da460", "text": "International relations isn't going to help you much with RE development, but I guess you're already committed to that. Basic finance will be helpful, although it's not too complicated and you can probably learn enough to get stated on your own. \n\nThe best advice I can give you: Get an internship this summer. **By far** the best experience that I had in learning the RE business during undergrad was the summer internship that I took with a big REPE firm that turned into a year-long internship, and then eventually turned into very good full time work immediately after graduating. Obviously it won't be exciting stuff at the beginning - but if you work hard, and your bosses like you, they'll try to keep you around. I studied econ and finance, but school became nothing more than a formality after I started working for this firm doing actual, real life stuff.\n\nGot promoted, and soon after I that I parlayed the experience into a graduate RE development degree for some additional academic exposure, to check out a new city, and to meet some cool people in the business.\n\nTL;DR: What you major in won't matter if you get a good internship with a good firm and work hard.", "replies": [], "depth": 1}, {"id": "d5dmkie", "text": "Graduate early, the extra semester is not worth an extra minor. I majored in marketing and minored in history, graduated 2 years ago and currently work as an analyst for a successful regional multifamily and retail developer (projects ranging from $30-$180MM). My boss told me he chose me over a college finance grad and a guy with a masters in RE due to my professionalism, persisitance with the job interview process, and enthusiasm for the industry. My point is that the CRE industry requires MUCH more than a degree. Most market intel, relationship building (people skills), 'boots on the ground' skills cannot be taught in a classroom. I'm sure a lot of older more experienced guys on this subreddit will sneer at that, but it's true - unless of course you are trying to get into a big corporate firm, which a couple years of experience at a small firm will definitely make you more qualified anyway.\n\nDon't get so hung up on getting a minor. I learned all the finance, excel, and argus stuff on youtube. I'm also not the most sophisticated guy at the party so if I can do it so can you.", "replies": [], "depth": 1}]