Whats the best way to become a commercial real estate developer?
Posted by admin on 5 Dec 2008 5:25 pm. Filed under Renting & Real Estate.
NotoFroto
I am currently a student at Western Michigan University majoring in Business (finance) (with an emphasis on real estate) and public law.
I am currently a student at Western Michigan University majoring in Business (finance) (with an emphasis on real estate) and public law.
I am studying for the LSATs now. (so that I might go into real estate law)
Is this the best way to get where i want to go?
What alternative career advice would you recommend for someone like me?
Thanks a ton
On December 6th, 2008 at 7:12 pm
The best way is to get a job with a real estate development company & learn the business.
On December 10th, 2008 at 12:54 pm
Work for one for a while to learn and get on the job training. See if this is what you want, if not you may find something related in this field.
On December 10th, 2008 at 9:44 pm
My kids went to WMU – good school. I work for a residential builder/developer as a bookkeeper. Unless you have a huge wallet, IT IS VERY EXPENSIVE TO DEVELOP PROPERTIES. You have to deal with the government entities and they can take forever to approve a building plan as well as the underground and all the things that are needed to develop vacant land. In the meantime, you pay interest on the loans you took to develop the property and the rates are not usually fixed. Especially now with real estate on the downturn, it is increasing difficult to sell projects. I would buy a single lot or lots already developed and build that way.
I think you should study and pass the builders exam for Michigan or whatever state you think you will practice, with the law degree will only enhance that real estate emphasis. Good luck!
On December 13th, 2008 at 2:34 pm
Other than gaining a formal eduction on commercial realestate you might want to educate yourself a little bit about various commercial real estate process.
Also, commercial real estate situation in various part of the state.
In my resource box I include a link to a website that has a lot of info focus on commercial estate. I found it very helpful.
Good luck
On December 14th, 2008 at 11:53 pm
Get an internship with a development firm.
Law school is useful – my sister is in law school right now – and you could do both at the same time.