Real Estate Development (standard, debt, tenant, house)
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I want to get into Development. I want to start out working for a Developer to learn the ropes, but I can't seem to find any that are hiring. Does anybody have any advice how I should go about this?
I want to get into Development. I want to start out working for a Developer to learn the ropes, but I can't seem to find any that are hiring. Does anybody have any advice how I should go about this?
I want to get into Development. I want to start out working for a Developer to learn the ropes, but I can't seem to find any that are hiring. Does anybody have any advice how I should go about this?
I want to be a "Real Estate Developer" is like saying I want to be a "in medical". Are you talking a doctor, or someone who sells band aids to doctor offices? 99% of the people in real estate development are in specialties related to that broad term. My uncle is a real estate developer but he owns the corporation. Most people under him are in specialties supporting that broad definition:
Property aquisition
Design and development
Zoning, Codes, and development standards
Architectual review
Leasing
Property management
Accounting
Taxes & escrows
Maintainace and support
Marketing & Advertising
Density Research
Waivers, Stipulations and variance
Permits
Vendor relationship
Engineering
Administarative support
Utility services
Document preperation
etc.,
etc.,
etc.,
There are small time developer who do small scale projects, but if your talking true developers, your talking larger projects than house flipping or a home here & there. So if you want to get into Real estate Development, you have to have apply based on your specialty.
Just to give yourself a taste of what it feels like to be in real estate development these past few years, take a million or so out of the bank and set it on fire.
If you still feel good after doing that, then maybe real estate development is just your thing.
Otherwise, there are better ways to go broke.
(Serioulsly, if you are well capitlaized and can get some sensible projects off the ground with a ten to fifteen year time horizen, i think you'll probably do okay. Be prepared for anxiety like you have never experienced, however.)
I want to get into Development. I want to start out working for a Developer to learn the ropes, but I can't seem to find any that are hiring. Does anybody have any advice how I should go about this?
A couple universities in the north east offer masters programs in development. I attend Hopkins but Georgetown and a couple in NY among others offer it. You learn a lot in the program because within development are a hundred subfields. With Hopkins, it is a who's who of development in Baltimore which is really one of the few ways to get a foot in the door without having millions of dollars or being a finance genius.
Real estate development isn't about building pretty buildings. It's about building a pretty building that has a tenant paying you a premium for it being pretty and covering your debt service so you can remain solvent.
A couple universities in the north east offer masters programs in development. I attend Hopkins but Georgetown and a couple in NY among others offer it. You learn a lot in the program because within development are a hundred subfields. With Hopkins, it is a who's who of development in Baltimore which is really one of the few ways to get a foot in the door without having millions of dollars or being a finance genius.
Real estate development isn't about building pretty buildings. It's about building a pretty building that has a tenant paying you a premium for it being pretty and covering your debt service so you can remain solvent.
So does the University of Houston.
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