Commercial Real Estate Law
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[{"id": "fwjpab0", "text": "You should also ask this question here r/law\n\nThat being said, you\u2019ll just end up in a different department then where you\u2019re at in a big PE firm or go into private practice assisting individual clients with all the things you described above", "replies": [], "depth": 1}, {"id": "fwjqvnz", "text": "Many realtors and brokers are also have attorney license.  Here in Palo Alto, PA most 2000 corp attorneys have a RE broker license without having to satisfy business classes requirements. It becomes handy. A few also have structure or engineering license as well.", "replies": [], "depth": 1}, {"id": "fwjr07f", "text": "I\u2019m a business grad / lawyer that works in house for a large tenant. I do most areas of law but do spend the bulk of my time drafting leases, subleases, modifications etc. as well as reviewing and interpreting leases. There is some purchase / sale transactions as well. \n\nThere are private practice lawyers that work in this field as well, but most probably have a more diverse commercial practice, at least at first. \n\nLong term plans are to be Chief Legal Officer of my or another similar company. Generally I\u2019m very happy with my career this far. I\u2019m in Canada too as an FYI. \n\nHope this helps.", "replies": [{"id": "fwkp3mt", "text": "Awesome, thank you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fwjxiy8", "text": "I\u2019m a commercial real estate lawyer and I enjoy it quite a bit. I\u2019ve had a bit of an unusual career path though. \n\nI fell into real estate coming out of law school and ended up working as a consultant for a high net worth family and local developer for a few months before becoming part of their in house counsel. I did that for a few years and in fact managed their developments and existing properties before going to private practice at a large regional firm (about 180-200 lawyers) and then ending up where I am now at a fortune 150 company providing legal advice and services for their global real estate. \n\nWhen in private practice my day to day revolved around purchases, sales, commercial finance (typically construction and permanent loan documentation and closing), leases, and land development including zoning (though zoning was my least favorite). I had a bit of a business background with my experience so I was very often able to be involved in the negotiation of substantive terms of deals in addition to the more granular legal topics. But I think what I was told at my old firm will always be true: that we as real estate attorneys are best advertised as business attorneys.\n\nTo that end, practicing in real estate is multi-disciplinary and often touches on more than just property law but also of course contract, corporate, secured transactions, and bankruptcy among many others. You\u2019ll find your clients range from wealthy, smart entrepreneurs to large companies to eccentric, big ego characters. To me, that always made it interesting. And more importantly, real estate was engaging because it was tangible. Though it took time, there are a number of projects I spent months or years on that I can drive by, point to, and tell people I helped make that happen. \n\nI think there is a dearth of real estate lawyers, at least here in the US. It does not seem to be the case that many new grads go into this field. At least not at the rate they used to so, anecdotally, I think it is an area that will have plenty of opportunity. And I don\u2019t exactly see the area of real estate vanishing anytime soon. \n\nI certainly think you can achieve your goal of becoming chief legal officer (indeed that is my goal) but it depends on your experience and the company you find yourself at. I think it\u2019s an easier path to CLO at google if you have a tech background than a real estate one but is likely conversely easier to be CLO at DR Horton with a real estate background instead of tech. \n\nAll that said, I truly don\u2019t believe you should go into the law profession unless you are committed to it. It is not for the lukewarm or the faint of heart. There were many long days and nights both studying and working and I\u2019m sure I\u2019ll have more ahead of me. It\u2019s a hustle and to excel at it requires fortitude, commitment and ingenuity, not to mention a good help of intelligence and, frankly, luck that you find the right opportunities at the right time. \n\nMaybe that shines a bit of light on it for you.", "replies": [{"id": "fwkp1q7", "text": "Thank you for the detailed response! I really appreciate it!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fwkkldm", "text": "Cre lawyer here. I like it but I wouldn't recommend law school to anyone unless you're going to represent clients. You can learn the law yourself without paying literally hundreds of thousands of dollars and becoming subject to arcane and uptight ethics rules.", "replies": [], "depth": 1}, {"id": "fwm2vhh", "text": "I'm a commercial real estate attorney at an AmLaw 150, midwest based firm.  I'll try to generally answer some of the questions you had above, but I'm happy to answer any additional questions.  One caveat that I will say is please carefully consider the financial implications of going to law school.  It's obscenely expensive and could result in a lifetime of debt.  Don't go unless you know 110% that it's the right thing for you.\n\n*What's your day-to-day like?*\n\nAt the firm: I am more of a general real estate practitioner than some of my colleagues that specialize in niche areas (i.e., New Market or LIHTC).  On any given day my list of activities can vary quite a bit.  Just as a few examples I assist clients with loan, lease, LOI and PSA negotiations; analyze zoning and diligence; and prepare and coordinate closings.  I'm not very social in the office, but that's to maximize productivity while I'm there.  I don't kill myself on the billable hours - I'm generally between 1900 to 2000.  This year looks to be 1,800 to 1,900, but who the hell knows what comes next in 2020.  The work ebbs and flows, which is a bit frustrating.  I may have a month where I bill 140 hours or a month where I bill 220.\n\nIn the community:  These days, business generation is all but required if you plan to work at a firm.  Firms these days expect their attorneys to be able to keep themselve busy and profitable. \n In a pre-covid world, I attended events, travelled to and spoke at conferences, grabbed lunch, coffee or drinks with contacts and served on boards in other community initiatives.  It's all important to keeping the pipelne full.\n\nAt home:\n\nUnfortunately, all of the above keeps your plate pretty full.  I am married and have a daughter and I'd be lying to you if I said I didn't make sacrifices at home in furtherance of my career.  I'd be lying to you if I said my wife and daughter don't get frustrated at time with my work and community commitments.  But they are very understanding and I still make the concerts and most of the sports events.  We take a few vacations per year but I usually work, sometimes a lot.  I don't have any regrets but I know this level of sacrifice isn't something a lot of people want.  You often hear of work-life balance.  It doesn't exist.  It's a work life blend.  If you're successful in this field your clients like *you* and your colleague might not do - even if you're on vacation.\n\n*What is your job satisfaction?*\n\nThis overlaps with what I typed above a bit, but I am personally pretty satisfied but not without frustrations.  I'm with a very good firm that is successful and fiscally responsible.  I get paid very well for what I do and my income potential can still increase significantly.  The culture is generally good.  My colleagues support one another (this is hugely important to me).  The work and client demands can be taxing at times, but from my perspective every job has its level of misery.  I get paid a hell of a lot of money to do something I generally like.  I'm incredibly fortunate.  Now all that being said, job satisfaction is all over the board in this profession.  Not only can it vary from firm to firm, but also within different offices, within practice groups and according to the clients you serve (career tip - avoid the asshole clients as much as you can).  I know a lot of miserable lawyers.\n\n*What is your long-term career path?*\n\nI'm currently an associate with my firm.  This is the year I'm up for partner (yay covid!).  Things still look encouraging in that regard as I'm having, all things considered, a pretty successful year.  But who the hell knows.  I can see myself here for the long haul.  I was a lateral to this firm.  I don't regret it for a minute.  It helped me tremendouly in my career.  Within the firm we have a fair amount of turnover among associates, but I think most similarly situated firms do as well.  Many go in house, which is great for us because they often send work back our way.  Others stay on and pursue the traditional partner track.  Many lateral to larger or smaller firms.  Some just aren't a great fit and are shown the door.  Most seem satisfied, but we've had some periods where that wasn't the case.  Standard stuff in a firm, really.\n\nHope this is helpful.  Please reach out if you have any additional questions.", "replies": [{"id": "fx9qslw", "text": "This is great, thank you for such a detailed response! To be honest, I am not 110% set on law school yet, but I do find the work interesting and want to learn more. I'm currently toggling between an MBA or law school. I discounted law school earlier this year due to research on the job satisfaction of lawyers, but I continue to find real estate/business law fascinating. I do look up to the attorney's I work with as \"subject experts\" when it comes to unique deal attributes or answering the difficult questions, and find that very inspiring as I am still early in my career. \n\nMy goal with law school would be to get my degree and work with clients for a while, not try and go into development/PE/etc. With that being said, I am hesitant because of the debt and job satisfaction. Would working in a paralegal role expose me to more of the day-to-day work? I just do not want to make a bad decision. I'm midwest based as well, thanks!", "replies": [], "depth": 2}], "depth": 1}]