anybody in the real estate or consulting industry?

  • Posted by a hidden member.
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    Mar 27, 2011 7:26 PM GMT
    I'm in business school and I'm currently deciding which "concentration" to pursue.

    I have a passion for real estate, it runs in the family. Residential real estate is fun for me, but it is not the best market currently. I don't know too much about commercial real estate, but the little that I know seems interesting.

    When choosing a concentration, I also have to take into account what I'm "good' at, what my skills are. I think I have a strong organization ability; I can visualize things really well.

    Did anyone here go into one of these fields? Did you start out of college, or switch into the profession? Any advice?
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    Mar 27, 2011 10:26 PM GMT
    I recently got involved in commercial real estate here in Mexico, which is a completely different beast than in the US. Tons and tons of legal crap to go through, but it's pretty fascinating.
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    Mar 28, 2011 12:38 AM GMT
    Thats pretty cool. Real Estate down there has to be way different. Doubt I'd ever get into that, unless some weird fate/chance thing happened. I don't even know spanish icon_confused.gif
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    Mar 28, 2011 12:46 AM GMT
    ivyjock saidI'm in business school and I'm currently deciding which "concentration" to pursue.

    I have a passion for real estate, it runs in the family. Residential real estate is fun for me, but it is not the best market currently. I don't know too much about commercial real estate, but the little that I know seems interesting.

    When choosing a concentration, I also have to take into account what I'm "good' at, what my skills are. I think I have a strong organization ability; I can visualize things really well.

    Did anyone here go into one of these fields? Did you start out of college, or switch into the profession? Any advice?


    I'm not in either but have a number of friends in both now. One thought if you like either is to focus heavily on finance and accounting courses. The best strategy consulting firms like Mckinsey and Bain have significant finance components (though they also will hire across degrees and not necessarily business - and are looking generally for raw brain power and strong case study solving skills). The thing about finance/accounting is that they're courses where it's tough to learn on your own - and as a consequence if you're in a fluffier concentration it can be a significant advantage when it comes to hiring (they're also generally not as easy) since others won't have it.

    I started out investment banking out of college - but generally you'll find that a lot of the best biz students either do i-banking or consulting (because they often offer the most money) - both areas of which are good backgrounds for a lot of other fields either in finance or management.
  • Ironman4U

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    Mar 28, 2011 1:04 AM GMT
    I've done consulting work for years. My area of expertise is sales and marketing. Although, I also get involved a bit in leadership and strategic planning (usually as it relates to marketing). I love the flexibility it affords me and the impact I can have on an organization's success.

    I got my MBA with a concentration in Marketing, so that was the beginning of my path. Although I didn't start my consulting business until after I got many years of hands-on experience working for other companies and building my real-life resume.

    My best advice would be to follow your passion. If you love real estate, that's great. But make sure you like it for reasons that are important to you, beyond your family's involvement. Good luck.
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    Mar 28, 2011 1:08 AM GMT
    I don't think you need a college degree to get into residential real estate. It is complete waste of time to get a college degree unless you just want it as back up. If you feel like you need a back up going into residential real estate then you probably will fail. It takes a lot of work to become successful in residential real estate and if you have any doubt then you should probably not even try.

    Consulting is very board.
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    Mar 28, 2011 3:54 AM GMT
    riddler78 - yeah, most b-students tend to go into ibanking. especially from my school, since our finance departent is.. the best. the thing is that the first few years of ibanking sound miserable, and i've learned that $ doesn't lead to happiness. i'd much rather find a job i enjoy and am good at. while i might be able to do finance, doesn't appeal to me. i'm a midwest boy after all haha, not necessarily looking to work on wall street.

    our real estate dept is also incredible which works out well for me. its just a tough decision.

    i wonder how much concentrations matter, as we all have to take the core business classes.. the concentration really only indicates we took ~3 or 4 different higher level classes.

    anyway, are you still in ibanking/how did that go?



    ironman4u - yeah a big thing i have to figure out is if my family's involvement in the industry has lead to me thinking i love it, or if i truly have a passion for it on my own. i guess only time will tell.

    consulting seems to be a career with lots of flexibility.. along with lots of off-hours working. has that been an issue for you?



    avadekedavra - i'm not looking to become a real estate agent haha.

    i never said anything about my college degree being a backup. i would never put myself through this school without knowing and appreciating its value. i don't think getting a real estate degree from the best real estate department in the nation is a waste of time whatsoever.

    i have no idea where you got any of those ideas haha
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    Mar 28, 2011 4:02 AM GMT
    I'll be honest, I don't know a lot about business school degrees but in general a lot of people get jobs that aren't necessarily in line with the degree they got. By which I mean you can get a degree with one specialization but still work in another field.

    If you have a strong organization ability and are good at visualization those skills should help you in any path you choose. My advice is if you have a passion for real estate then go for it. Aim to do what you love.
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    Mar 28, 2011 4:20 AM GMT
    ivyjock saidriddler78 - yeah, most b-students tend to go into ibanking. especially from my school, since our finance departent is.. the best. the thing is that the first few years of ibanking sound miserable, and i've learned that $ doesn't lead to happiness. i'd much rather find a job i enjoy and am good at. while i might be able to do finance, doesn't appeal to me. i'm a midwest boy after all haha, not necessarily looking to work on wall street.

    our real estate dept is also incredible which works out well for me. its just a tough decision.

    i wonder how much concentrations matter, as we all have to take the core business classes.. the concentration really only indicates we took ~3 or 4 different higher level classes.

    anyway, are you still in ibanking/how did that go?


    I was happy with the time I spent there and I'm also happier that I left - though I do wonder sometimes. Investment banking is a money trap. It was pointed out to me at the time that if you're not doubling what you make every three years you're not doing well. That said, investment banking seemed more like a game of endurance / politics than say merit in general. Average hours per week were north of 90 because of my specific group though it seemed like we worked harder than the others to be fair. And you're right, money doesn't lead to happiness. We were paid well, but at the same time, as another friend who is no longer in banking once put it, it's sort of like a trial by fire. Those who go through it have more respect for others who also go through it - and if you survive it shows you at least know how to work hard which is something you can take to other industries.

    I have a number of friends who graduated presumably from your same school (didn't Trump's son study there as well? not sure which concentration he did). But yeah, just because you studied with a certain focus, doesn't mean you have to go into that focus to work. Finance skills are prized anywhere including strategy consulting - but I have a pretty elitist view of strat consultants many of whom outside of Bain/McK are less than rigorous/useful/valuable.

    Also - given that I've met a number of people on this site who are at a similar point in their lives trying figure out what they want to do, you've got time to figure things out and even do-overs. There's nothing that says you can't just do more schooling after - though I think getting a finance concentration from that school will provide a strong basis for doing real estate, strat consulting or even finance (ibanking/buyside)... I wonder if you can audit a few of the real estate ones - but a lot of the ideas are probably similar or at least they build on finance ideas since ultimately it comes down to returns and what drives them.

    I'm no longer in banking - left that a long time ago, but now working at my company (and a few startups). But yeah definitely do something you love and specialize at it. Personally, I find the world of startups fairly exciting given how new it is, and the opportunities out there. You can private message me if you want me to go into further detail. Parenthetically, this was a recent article on TechCrunch:
    [url]http://techcrunch.com/2011/03/26/friends-don%E2%80%99t-let-friends-get-into-finance/[/url] (more with reference to the finance industry rather than studying finance)