24 Y.O. CE looking to transition to Commercial Real Estate
Probably pretty cliche. Graduated BS Civil Engineering. Since then I have 3 years construction experience, 2 being QC and 1 in CM. I’m 24 and looking to transition into Commercial Real Estate. Not too sure where to start, at the end of the day I feel I’m not financially literate enough nor am I on board with all the jargon you guys have. Not that I’m bad with finances, more so the language, regulations are out of my league at moment. I feel pretty confident in my actual construction abilities. Any advice would be appreciated.
[{"id": "icxc0d5", "text": "I would imagine a Civil Engineer would have skills not many have to bring to development teams? I think I read on this forum about how CEs bring unique project saving skills to the table...Could you maybe lean into that for a couple of years for CE experience then transition?", "replies": [{"id": "icy19nd", "text": "I worked for a person that started as a Civil Engineer and surveyor. He was able to use that knowledge to develop a lot of single family subdivisions. He could handle pretty much the entire entitlement process himself.", "replies": [], "depth": 2}, {"id": "icytlxd", "text": "This has somewhat been my thought process. I\u2019ve learned a lot being on site daily but still plenty to learn. My close friend has worked CMBS and currently for a lender and from sharing our work experiences I just feel like I picked the wrong field. At least financially. The pressure and expectations in CM don\u2019t seem to align with the pay ceiling. Sorry for the rant, mid-way through writing I\u2019ve realized I\u2019m more or less unsatisfied with the salary limitations that CE / CM currently have for a pretty niche field. More or less I\u2019ve been lost on where to focus and am looking for insight on skills and knowledge that I should know to\nmake myself appealing and useful in CRE.", "replies": [{"id": "icyvzbd", "text": "Understood. Others can chime in as I'm an RE entrepreneur and did not follow a W2 path with a real estate or financial company. Many things I've learned have been self taught and I only followed up with my relevant degrees later in life. \n\nI agree CM and PM are not the highest paying..So think about your superpowers and the path of least resistance to get started. If you learn the finance side, the time to educate, then get placed as an analyst where you might work for a few years before moving up the ladder has some thorns but will get you there.\n\nOf all the high paying positions I believe knowing how the finance works is among the top to get one into the higher paying roles (COO/CFO). Business building and strategy as well CEO). Also being able to raise buckets of capital from investors which arguably takes marketing, sales, communication, emotional intelligence, empathy and some knowledge of the finance (CMO/Investor Relations).\n\nThose three are essential. The other roles in an RE company like AM, CM, leasing agent, closing coordinator, maintenance etc..can be filled by W2 workers who may or may not make a decent wage.", "replies": [{"id": "icz23vs", "text": "I really appreciate the detailed response. Also congrats on the entrepreneurial route. That\u2019s a goal of mine and obviously many others but taking the dive seems daunting at the moment. In a perfect world I want to build luxury homes or smaller commercial projects where the relationship with the owner is intimate. I guess for the better or worse. I like the path of least of resistance bit, it\u2019s been pretty challenging trying to figure out what skill set to  attack first . Thanks again for the input.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "icxgorw", "text": "What role within commercial real estate? Brokerage, principal, or lender?", "replies": [], "depth": 1}, {"id": "icy9wzp", "text": "Great move!", "replies": [], "depth": 1}, {"id": "id6q89q", "text": "I'm part of a mastermind group focusing on commercial real estate. We meet every second Wednesday night by zoom at about 8pm ET. No cost. Small group, we're looking to grow a bit as some earlier members have dropped off. Hit me up if you want to join us.", "replies": [], "depth": 1}]