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Updated almost 9 years ago,
Advice wanted for transition from engineer to developer
Hello all. I came across this forum while researching the REDI Foundation as well as ULI and NAIOP courses and was impressed by the responsiveness and knowledge of the contributors.
I'm 31 years old and a licensed professional engineer in 30+ states. My area of expertise is plumbing, mechanical and electrical (PME) engineering for commercial and multifamily projects. I've worked as a PME engineer for 10+ years now. 4 years ago I started my own engineering firm. That firm is now 12 people and we've completed 500+ projects. During this time I've formed relationships with architects, contractors, city officials, and have crossed paths with many developers. Along the way I've gained some familiarity with the role each plays in the development process and had much practice in communicating with a broad range of professionals and personalities.
As time goes on I'm becoming more and more intrigued by real estate development. I also realize more and more that I like the challenge of, and tend to succeed at running complicated projects. Given my experience and education in engineering, which in addition to the technical work includes significant project management, organization/systems/process development, and dealing with bureaucracies, I'm hopeful I've got a good start on the skills necessary to be successful in real estate.
Problem is there is so much I know I don't know and even more than I don't know I don't know. I'd be grateful for any advice you all have on the best way to learn more and/or how to pivot from being a role player in the development of projects to leading them.
Please keep in mind that I do currently have a full time job in running my engineering firm and that while the success of the last few years has come with some financial reward I'm by no means in a position to bankroll projects on my own.
Thank you.