The best Career path for Success as a real estate developer

[Niko Ivancovich]

Hi, 

I want to be a real estate developer, and I want to know what the best path for me to take is considering my current position. The type of real estate development that I want to do in the future is Spec homes and apartments.  I am currently a Construction management student at Chico State, and as a Construction management student there are usually two paths that you go, Project Manager or Project Estimator. I am very good with numbers and I think being a Project Estimator would interest me more, but what position would prepare me the best for being Developer? Also is their another career path that I should consider besides being a PM or PE? 

Thank you!

[Paul Bergagna]

Having a background in construction will serve you well going forward in your path to development.  I would think that the PM track would provide a foundation in development.  

Aside from understanding how to build the buildings and how much they cost, you'll need to know how to understand how to analyze deals at a higher level to see if they make sense - what are the rents/sales you expect to achieve, what are your financing costs, what's the timeline....

I would strongly suggest taking real estate and/or corporate finance classes as well - preferably as a minor if you're able to.  

I have a similar background - my undergrad is in civil engineering.  Over time, I've transitioned more into the real estate finance side of things, but having a solid background in construction is in valuable.   If you want to fast track your career - work directly for a developer when you graduate, not for a CM.