What technical skills are an absolute MUST HAVE in Commercial Development?
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[{"id": "i9vy7uc", "text": "- Reading and writing \u2714\ufe0f", "replies": [], "depth": 1}, {"id": "i9w60wn", "text": "Financial modeling is probably #1.  Learning to identify sites is #2.  Negotiation skills are very important,  too.", "replies": [{"id": "i9xrigk", "text": "Financial modeling isn\u2019t even close to #1 if you want to start your own business, you can get by with back of envelope 1 pagers very easily to start.\n\nYour other points and project/people management skills are WAY more important in development provided you understand the numbers.\n\nNow if we\u2019re talking an analyst/associate role at an existing shop then financial modeling and project management would be top 2.", "replies": [{"id": "i9y6vte", "text": "If you can't model out a project,  you cannot get a bank loan or investors.  Back of the envelope doesn't cut it.   I agree that project management should be added.", "replies": [{"id": "i9ya5cv", "text": "I have literally submitted a one page pdf proforma to a bank for an $80M loan.", "replies": [{"id": "i9yalmc", "text": "That's great,  but i promise it wasn't a back of the envelope kind of thing.   We both know this because we've both done big loans on big projects.", "replies": [{"id": "i9yvzpn", "text": "It wasn\u2019t, but my point is that you can easily hire someone or outsource financial modeling. It\u2019s definitely not the most important skill, although understanding the numbers and what levers you can pull is up there.", "replies": [{"id": "i9zob4x", "text": "You can outsource project management, too.  You can outsource fundraising.  You can hire a loan broker to line up your loan.  But that's all really expensive.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i9w9qwm", "text": "What aspect/role of CRE? Property management? Insurance? Title? Legal? Capital Stack? GP/LP structuring? construction? brokerage? If brokerage what type of brokerage? Is it retail, office, MF, Industrial, Education, Hotel? \n\nNeed more info.", "replies": [{"id": "i9wrsb7", "text": "More info? No you don't. He said \"in commercial development\". You weirdly just copy/pasted the Google search result for (alternative jobs for a real estate agent).\nAnswer 2 was spot on: EXCEL. I work for a debt fund that specializes in construction financing. As someone who combs through multiple OM's and highly sophisticated excel spreadsheets daily, it make or breaks your deal. If I receive a PACKAGE about a development project and I have to contact you for missing information.... NEXT!", "replies": [{"id": "i9wrsvg", "text": "[NEXT JOKE ORIGIN](https://www.reddit.com/r/ChoosingBeggars/comments/7kr5as/i_need_a_free_100mile_bus_trip_for_20_people_and/)", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "i9wdu47", "text": "If you\u2019re on your own: balls\n\nIf you\u2019re working for someone: brains", "replies": [{"id": "i9wp5fy", "text": "Upvote this to the moon", "replies": [], "depth": 2}, {"id": "i9xlh8a", "text": "Got brains and no balls but wanna start a business. Please send help", "replies": [], "depth": 2}], "depth": 1}, {"id": "i9xds6b", "text": "Know how to deal with government entities and know all if their requirements. So to another contributor, reading comprehension is a must.", "replies": [], "depth": 1}, {"id": "i9xioh4", "text": "Get man with computer camera come in document.Start with 1- 10 year plans.", "replies": [], "depth": 1}, {"id": "i9y64cx", "text": "Some context would help. Are you trying to strike out on your own or are you looking for skills that will help you land a job in development? \n\nWhat is your existing CRE experience? \n\nWhat asset class are you wanting to focus on? Each has some \u201cmust have\u201d nuances.  \n\nUniversal skills I consider a must have are: \n\n1. Excel. Specifically for pro forma modeling, budgeting, and construction draw monitoring. \n\n2. Zoning. Learn how to research zoning codes. Zoning is not universal and it varies from one municipality to the next. Also understand the applicable re-zoning process. This ties in heavily to site identification. \n\n3. Building codes. You need to have a basic understanding of IBC. Also, nearly every municipality will have their own set of amendments to IBC that have to be followed. Most amendments aren\u2019t material, but some can be huge. \n\nLastly, if you can, spend a summer working in construction and learn your way around a hammer. It\u2019s not a technical must have, but knowing how to actually build shit gives you a valuable perspective.", "replies": [], "depth": 1}]