Is it a good time to look for career in CRE….appreciate your feedback
Anyone working in commercial real estate care to share some insight?

Hey Guys, I’m considering a career switch into commercial real estate from working as a residential mortgage loan officer for the past two years. 

My question is how would you suggest I go about setting myself up to get my foot in the door ? Long term goal is to get a senior position at an acquisitions firm.

It’s a lot different than what I’ve been doing but I do have finance and excel modeling skills and a basic understanding of capital markets. 

I’m working on completing A.CRE accelerator course. 

Also with interest rates having gone up, is there a slow down in firms looking to add on new talent due to higher cap rates and less available deals?
[{"id": "iptjawc", "text": "Commercial real estate is a career. There no point unless you love it. You can go broke or get rich. Either is possible", "replies": [{"id": "ipvd0nd", "text": "This.  Every type of market has its positive and negatives to working in the industry.  Things are booming\u2026 well then there\u2019s little inventory and tons of competition.  Markets fall\u2026 less buyers but those that have the cash want to buy while theirs opportunity.  As this guy said you should not be worried so much as to whether the timing is best economically to get into the biz but instead whether you really want this as a career.  When I got into the business everyone had a reason why it was a poor time to start and why I should transition years down the road. I knew deep down I was passionate about making it in this business so I knew I would be successful no matter what.  if you go into it with that mentality then it doesn\u2019t matter what the economy is doing this year or next, your trajectory will be positive.", "replies": [{"id": "ipveenu", "text": "Agreed! I guess I\u2019m just managing my expectations but I should be more purposeful in my efforts rather than trying to have certainty on the outcome. Appreciate the response", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iptmuij", "text": "Not sure how modeling is a specific benefit to a career in CRE. While being good looking can be a plus in general, you probably shouldn\u2019t brag about it. :)", "replies": [{"id": "iptwcst", "text": "Lmao excel modeling", "replies": [], "depth": 2}, {"id": "ipwwdd1", "text": "If you're not proforma building your acquisitions, you're getting lucky.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipuztch", "text": "I was an MLO for two years as well at one of the biggest lenders. Now working a job at one of the largest CRE firms. Happy to talk about my experiences, thoughts, outlook. Feel free to DM.", "replies": [{"id": "ipv80tq", "text": "Oh nice, thank you! I sent you a PM!", "replies": [], "depth": 2}], "depth": 1}, {"id": "ipvf36h", "text": "Lots of firms have slowed / stopped new asset purchasing through the end of the year. A lot of talk about next year, but it\u2019s still firm specific. Have seen a few firms doubling down why everyone else is sidelined.", "replies": [{"id": "ipvjv8z", "text": "OP could get into the tenant side? National  tenants can use their data modeling skill set to decide to keep or close current stores.", "replies": [{"id": "ipww99c", "text": "OP, this is the right move. Get a job as RE acquisition associate for a retailer. Will teach you how to identify properties without failing on your own to learn.", "replies": [{"id": "ipxw0yo", "text": "This is great advice, save and except for: \n\nA.) Our economy - Which retailers do you think are hiring right now? Forget the labor market stats you read, REIT\u2019s, developers, etc. are all shitting their pants around the economy. Cash conservation is key, hiring isn\u2019t.\n\nB.) OP\u2019s current role - Not to be a dick, but most retail investment teams are going to take a dim view of resi mortgage brokerage experience.\n\nOP, I\u2019d look for work as an investment sales, or D/E placement analyst at a brokerage. Assuming your team doesn\u2019t suck, you\u2019ll get solid deal experience, and opportunity to build a contact list on the principal side (should you decide to move over in the future).", "replies": [{"id": "ipzh8dr", "text": "Hm I like that it sounds like D/E at a brokerage would make the most sense right now. How should I go about networking or getting someone to take a shot on me given that my experience isn\u2019t much on paper?", "replies": [{"id": "irsy5kd", "text": "sent you a PM", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ipw05im", "text": "Here is some great news wrapped in some shit news:\n\nIt's not a good time to be getting into any type of career as we are going into a major recession.\n\nSince that is the case (all options are not great), then it follows that you should just do what you want, since your chance of success is equally shitty in some other industry.\n\nIt follows from that, that you have a higher chance of success doing something that you are good at, and that tends to happen when you do things that you like and have an interest in. \n\nSo emotionally, and statistically speaking, you should just do what you want. \n\nAs the Flaming Lips once said: \"All we have is now\"\n\nThere is no better time than now.", "replies": [], "depth": 1}, {"id": "ipxvify", "text": "What part of real estate bubble bursting do you not understand?", "replies": [{"id": "ipzglrt", "text": "lol", "replies": [], "depth": 2}], "depth": 1}]