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Old 10-11-2013, 10:16 AM
 
Location: OC/LA
3,830 posts, read 4,257,226 times
Reputation: 2214

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I've worked as a commercial R.E. appraiser for about a little under 2 years, but I want to go into R.E. development.

My girlfriend is finishing med school in the May and we will be moving to wherever she matches for residency, and I was hoping to get some good input as to what are some hot markets for R.E. development. She has to rank all the programs she interviews at so I'm trying to get a feel as what would offer the best prospects for me too.


Locations she has interviews at:

- Midwest
Chicago
St. Louis

-Eastcoast
Boston
Philadelphia
NYC
Baltimore
D.C.

-South
Raleigh-Durham
Atlanta
Nashville


-West/TX
Austin
Dallas
Houston
Portland
Palo Alto / Bay Aea
LA
San Diego


So I know TX is super hot at the moment, but I don't know much comparing Houston vs. Dallas vs. Austin. Any opinions on those 3?

Also, any opinions on St. Louis, Philly or Baltimore, because those are top programs, but I'm not so sure about the markets there.

Any general comments would be helpful too.
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Old 10-11-2013, 10:32 AM
 
4,567 posts, read 9,754,108 times
Reputation: 6666
Quote:
Originally Posted by HyperionGap View Post
My girlfriend is finishing med school in the May and we will be moving to wherever she matches for residency
If she only gets one offer from Baltimore, it looks like you're moving to Baltimore. Why not wait until she hears back from them?
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Old 10-11-2013, 10:46 AM
 
Location: Scottsdale, AZ
2,132 posts, read 4,674,455 times
Reputation: 3204
Why isn't Phoenix on your list? Healthcare is booming here so she should have little trouble finding a place at one of the numerous new hospitals AND Phoenix is a great area for RE development tons of opportunity.
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Old 10-11-2013, 11:02 AM
 
Location: OC/LA
3,830 posts, read 4,257,226 times
Reputation: 2214
Quote:
Originally Posted by 399083453 View Post
If she only gets one offer from Baltimore, it looks like you're moving to Baltimore. Why not wait until she hears back from them?
For residency it's not an "offer." It's a "match"

For each specialty, X med students interview at Y hospitals/programs. Each med student ranks all the hospitals from 1 to Y. Each hospital ranks all the med students from 1 to X. A computer algorithm matches all the students to hospitals based on the rankings. So this is why I am hoping to get some feedback to help her in coming up with a rank list that would best suit both of our prospects.


Quote:
Originally Posted by AZJoeD View Post
Why isn't Phoenix on your list? Healthcare is booming here so she should have little trouble finding a place at one of the numerous new hospitals AND Phoenix is a great area for RE development tons of opportunity.
Phoenix has not offered her an interview (yet).
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Old 10-11-2013, 11:08 AM
 
Location: Kansas City North
5,533 posts, read 9,335,649 times
Reputation: 11034
Why should SHE decide on where she wants to go based on your wants? She isn't even married to you, and this is an important decision that may have ramifications for her entire career. Let HER decide what's best for HER and if it works for you, so be it.
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Old 10-11-2013, 11:22 AM
 
Location: OC/LA
3,830 posts, read 4,257,226 times
Reputation: 2214
Thanks for your unwarranted input into my personal life (which you have no background on whatsoever).

Was that the question that I asked? Is this the relationship forum? No.

Since you are so worried about her entire career, how about you just pretend we're married. Now do you have an opinion on any of the cities I listed?

Last edited by HyperionGap; 10-11-2013 at 11:34 AM..
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Old 10-11-2013, 11:38 AM
 
Location: North Idaho
28,277 posts, read 38,791,908 times
Reputation: 62333
Many of those areas, I don't think are good and the areas you are listing where I might go in and do a development are extremely expensive to purchase real estate. In those areas, unless you are quite wealthy with lots of financial backers, you would probably work hard to find a fixer house to renovate, and it's going to be difficult to develop a new subdivision or build an apartment building.

There are apartments being built in Portland Oregon. I have no idea how financially viable those projects are. Rentals are extremely tight, so there is demand for apartments, but land is way up there in cost, so I don't know if apartments can be built for a cost low enough that rents will cover expenses. The urban growth boundaries make it difficult to locate land that can legally be developed.

That is the only city on your list where I know enough about the real estate market to not be merely repeating what I've heard from other investors.

The same for San Diego. Land available for development is very limited and the cost is high. It's been many years since I've done any real estate in San Diego county, although I know a few people who are still buying. So I don't know that market well.
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Old 10-11-2013, 11:43 AM
 
13,713 posts, read 8,220,989 times
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What type of development are we talking about?

What is your budget? What is your timeline? Are you developing to sell or to rent?

Lastly, how good are you at working the system to get things built?

.
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Old 10-11-2013, 12:00 PM
 
Location: OC/LA
3,830 posts, read 4,257,226 times
Reputation: 2214
Quote:
Originally Posted by oregonwoodsmoke View Post
Many of those areas, I don't think are good and the areas you are listing where I might go in and do a development are extremely expensive to purchase real estate. In those areas, unless you are quite wealthy with lots of financial backers, you would probably work hard to find a fixer house to renovate, and it's going to be difficult to develop a new subdivision or build an apartment building.

There are apartments being built in Portland Oregon. I have no idea how financially viable those projects are. Rentals are extremely tight, so there is demand for apartments, but land is way up there in cost, so I don't know if apartments can be built for a cost low enough that rents will cover expenses. The urban growth boundaries make it difficult to locate land that can legally be developed.

That is the only city on your list where I know enough about the real estate market to not be merely repeating what I've heard from other investors.

The same for San Diego. Land available for development is very limited and the cost is high. It's been many years since I've done any real estate in San Diego county, although I know a few people who are still buying. So I don't know that market well.
Thanks for the input. That's pretty much what I was worried about with most of the places I listed in CA.


Quote:
Originally Posted by beb0p View Post
What type of development are we talking about?

What is your budget? What is your timeline? Are you developing to sell or to rent?

Lastly, how good are you at working the system to get things built?

.
I guess my timeline is to work as an analyst or some entryish level position for an established commercial RE investment firm or developer for 3-5 years and then go out on my own and start trying to do some deals myself.

I would assume to have at least 500K of my own capital by the time I start doing my own developments.

Quote:
Originally Posted by beb0p View Post
Lastly, how good are you at working the system to get things built?
I'm not sure I know exactly what you're talking about here, so I'm going to assume I'm complete garbage.

Are you talking about zoning, permitting and all that stuff? Or actual project management and construction. Or something else entirely.
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Old 10-11-2013, 12:22 PM
 
Location: Brentwood, Tennessee
49,943 posts, read 53,133,696 times
Reputation: 98359
Bebop has a really good point. I assume she meant all of the above.

I would work your backup plan until you get to know the area, the market there, and the local governments.
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