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Hey everyone! I am currently a college sophomore studying Finance. I am finishing up my undergraduate curriculum, and am thinking about matriculating to grad school to attain my MBA with a focus on Corporate Finance.
When I become established and build up enough capital, I would like to go into a field where I believe that there is a lot of money to be made: real estate development in urban environments. To be even more specific, real estate development in the Philadelphia area. There are so many metrics that point to the current and long-term viability of Philadelphia's (my boundaries would be the Delaware River to the east, 52nd Street to the west, Washington Avenue to the south, Berks Street to the north, and Baltimore Avenue to the southwest) market for apartments, condos, and mixed-use developments. I believe that Philly is super-prime for development, and I want to enter this market as soon as possible.
Is anyone here familiar with the real estate development market? If so, how does one enter it? How does one become a successful developer? Even if I can't get into the business, I would still like to work for a reputable Philadelphia area development company, like Brandywine (NYSE: BDN) or Liberty Property Trust (NYSE: NPT). Thank you!
My nephew majored in Construction Project Management and had many job offers during his senior year at U.of FL and now has a job with a major contractor. Great way to learn all about it and later fly solo.
You need to start studying about architecture, construction and Project management so you'll know what the people in the business are talking about or they won't want to deal with you.
Contact the Philadelphia area development companies, like Brandywine (NYSE: BDN) or Liberty Property Trust (NYSE: NPT) and ask them what they are looking for in a employee seeking the position you desire.
Maybe they'll take you on as an intern.
Last edited by NickofDiamonds; 10-20-2015 at 01:00 PM..
You need to start studying about architecture, construction and Project management so you'll know what the people in the business are talking about or they won't want to deal with you.
Contact the Philadelphia area development companies, like Brandywine (NYSE: BDN) or Liberty Property Trust (NYSE: NPT) and ask them what they are looking for in a employee seeking the position you desire.
Maybe they'll take you on as an intern.
Spot on advice from start to finish, with emphasis on the last sentence.
My M.S. is in real estate from JHU. It's a great way to get into the business from a development standpoint.
My advice is network, network and network some more. Real estate development is an extremely broad term with many subsections i.e. acquisitions, development, construction, capital markets, legal, etc. I work in the first one. All can be very specialized depending on the field of real estate that you decide to work in (res/ commercial etc.)
I had a few friends that did that sort of thing. First, you should probably work for someone else until you figure out how everything works. Then, at some point, if you want to work for yourself, you either need your own money or the ability to borrow lots of it. In other words, you need a friend at the bank. Then, if you're smart, you can make lots of money fairly consistently. One caveat: don't get overextended. If the economy turns south, you can end up being stuck with a bunch of properties you can't sell.
my m.s. Is in real estate from jhu. It's a great way to get into the business from a development standpoint.
My advice is network, network and network some more. Real estate development is an extremely broad term with many subsections i.e. Acquisitions, development, construction, capital markets, legal, etc. I work in the first one. All can be very specialized depending on the field of real estate that you decide to work in (res/ commercial etc.)
[LEFT]Real estate developers can start out in many different fields. Some start as real estate agents who, after buying and improving properties, succeed in selling them for a profit. After a period of time, they may raise the capital necessary to work with an urban or regional planner, architect and builder to develop, build and market a project, such as a new condominium development.[/LEFT]
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