Career advice for student trying to pursue development
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[{"id": "f0pjmwg", "text": "Getting a real estate license and working in for a commercial real estate brokerage would give you deal experience.  A lot of developers either have that background or would value that experience more than a graduate degree.  There\u2019s no easy way into the development world.  You could try to get a job as an analyst but those are typically limited in quantity and in high demand, so unless your dad is a developer or a wealthy investor I would suggest finding another route.  I\u2019m sort of on the developer path now, but it\u2019s more of a trailblazing not so much a path.\n\nEdit:  Also, not really sure what you mean by California not being a place to be a developer.  You\u2019re in one of the most dynamic real estate markets in the country.", "replies": [{"id": "f0pz4rx", "text": "Second this. Transaction experience is paramount. You'll need to put in serious time and work some deals before you get anywhere close to a development role.", "replies": [], "depth": 2}], "depth": 1}, {"id": "f0po2ww", "text": "Try to land an entry level analyst position after college. A graduate degree at your level of experience would be a complete waste. You should have good work experience before you even consider it. If you go straight graduate degree, you will still have no real world experience and it\u2019s just generally a BAD idea. \n\nIn regards to what kind of analyst position? Honestly any thing that you can land. Apply to as many as you can, see what sticks and take the best thing. Analyst positions are far and few but once you get in, you can usually segway into whatever. You really just need to learn as much as possible at the entry level. No amount of schooling will give you real world experiences.", "replies": [], "depth": 1}, {"id": "f0q3noh", "text": "I aspired to development out of college as well. Unfortunately for me, I graduated in the middle of the downturn and not a single developer in my desired market was hiring (even the 3 mentors I had that were themselves developers). Through an internship I was offered a job in land brokerage with one of the top brokerage firms. I\u2019ve now been a land broker for right around 9 years and love it. If this avenue is available, I would consider it. I guarantee you will have developers trying to hire you away within 18-months. However, I will forewarn that the first 3-5 years in land brokerage are brutal financially, but you will get your Doctorate in development the old fashioned way, on the streets. (I would advise partnering with a senior broker early on)", "replies": [], "depth": 1}, {"id": "f0qla12", "text": "Apply to every Development Associate job listing that you can.\n\nTake your time on your resume and cover letter. Have friends and family critique them. Each should be one page max and sent as a pdf, not word doc. Formatting is important. Also, Letters of Recommendation and references helped me land my first job. You would be shocked by how much following these instructions will set you apart from other candidates. Perfect your resume and cover letter! Also, practice your interview out loud with multiple people before an actual interview. First impression is critical!\n\nMRED isn\u2019t necessary and not nearly as important as actual work experience. BS in Economics is good but I\u2019d argue the prestige of the university you graduate from is more important.\n\nRegarding your California comment, development in Los Angeles is booming right now. It may slow down during a recession but probably not more so than anywhere else. Also, if you can develop in LA or SF, you can develop anywhere else in the US.\n\nIf you can\u2019t land an entry-level position as a Development Associate, try finding one of these:\n\n- Transaction Coordinator for a **commercial** agent/broker. Learn property valuation, how to analyze deals, closing escrow, investor relations.\n\n- Development Expediter at a company like Burnham. Learn how to deal with city officials that permit development projects.\n\n- Executive Assistant for someone important in real estate (development, brokerage, management, or investments), construction, entitlements, architecture, engineering (structural, MEP, civil), interior design, or even at a water/power utility company. Learn the various trades.\n\n- Estimator-in-training for construction/development. Learn how much everything costs and how to budget correctly.", "replies": [], "depth": 1}, {"id": "f0qsg2d", "text": "Disagree with those saying to go into brokerage\u2014that job is completely different from development and/or acquisitions, and requires and teaches a completely different skill set. If you get an internship at one it wouldn\u2019t be bad since you can at the least make some contacts, but I wouldn\u2019t go brokerage full time unless it\u2019s actually what you want to do.\n\nAgree with those who say real world experience &gt; graduate degree, especially if you\u2019re young and right out of college. Only go to grad school for Real Estate if you\u2019ve spent the first few years doing something completely unrelated and are trying to make the transition.\n\nContact local developers and start networking now. It\u2019s a relationship driven business.", "replies": [], "depth": 1}]