Switching From Construction Management To Commerical Real Estate Development
*Please note, I read the rules before posting. I’m not looking at this as newbie advice since I’ve done quite a bit of due-diligence on this to try and make it as succinct and targeted as possible; but rather advice for a seasoned professional. I also could not seem to find a more appropriate thread.*

In an attempt to leverage the internet’s collective minds (we’ll see how this goes), I am looking to do exactly as the title of the thread says; make the switch from CM to CRE. I know that I need the right qualifications and I know I need to network. I am currently apart of NAIOP and looking to join ULI.

Current Qualifications:

- Current Position: Project Manager in Healthcare Construction
- B.S. Construction Management
- M.S. Construction Management (In-Progress)
- 7+ Years of Project Management experience in commerical construction 
- Certificate of Advanced Study In Commerical Real Estate Development 
- Certificate of Advanced Study In Real Estate Finance

Current Situation: 

Where I am at a crossroads is how and when to move forward into commercial real estate development for a role as a Real Estate Development Manager with the options I currently have. 

The short story is that I’ve been applying to jobs within CRE and reaching out to recruiters, but I haven’t gotten much traction. Every week I still get construction management recruiters reaching out to me which makes sense but can be frustrating given my goals and objectives. In my current role I am a third party consultant acting as an in-house project manager for a well known healthcare entity on the facilities and design &amp; construction side. The healthcare entity is my client and they want to make me an offer to stay on-board; however I want to go get an MBA once I’ve completed my Masters. I suspect there may be a time factor involved here as well. There are two programs I’m looking at between 2 different business schools. One is a well known private institution with an MBA cost of 93K, and the other is a state school with an MBA w/ real estate specialization cost of 31K.

These tuition numbers are miles apart, but one is a prestigious name on the resumé to help carry me and the other is a good program but cheaper cost and not necessarily as prestigious.

Option 1:

Accept the role with the healthcare entity who would provide up to 15k per fiscal year in tuition assistance and require me to stay on for 3 years once the MBA would be completed; giving me 5 more years in Construction Management before I would able to switch over. And knocking the price of the private institution’s tuition to around 55K. The name would allow me to go anywhere, but with a higher cost which may not matter if I get in with a company that pays well.

Option 2:

Accept the role with the healthcare entity who would provide up to 15k per fiscal year in tuition assistance and require me to stay on for 3 years once the MBA would be completed; also giving me 5 more years on the CM side, and if I went with the state school MBA it would almost be free. The name is not as prestigious but its an MBA with a real estate specialization.

Option 3:

Stay with my current company on the consulting side, and keep looking for a job in CRE prior to getting the MBA next year. This would get me in the industry earlier if its able to happen, but it doesn’t seem like an easy task without having an MBA or an MRED.

Conclusion:

These might seem like no-brainers either way you look at them but I cannot fathom which one is the best option because because there are different factors between experience, time and money.
[{"id": "ipjfj5m", "text": "I have a BS in construction management and an MBA, both from a top 50 university. I\u2019m a licensed general contractor, licensed real estate broker, and also doing my own development. If I had to do it over again I would have done the Masters in Real Estate over the MBA.", "replies": [], "depth": 1}, {"id": "ipjr3g9", "text": "I would do an MRED over an MBA! A lot of schools have an accelerated program if you have background :)", "replies": [], "depth": 1}, {"id": "ipkzajd", "text": "Why are you getting all these degrees? This is an industry that is a lot more entrepreneurial and relationship based, imo. You have a great skill set as a CM. You just need the financial side and some starting capital now and a good idea or two. You can get the financial side from a few classes and books. The capital side comes from relationships. Why get 2 masters when you could be out doing it and really learning?", "replies": [], "depth": 1}]