Career in Real Estate Development

[Desmond Dunn]

Hello,

I am new to real estate investing. I have been educating myself for about 2.5 years now. I am looking to start a career in Real Estate Development. I wanted to know did anyone have any guidance as there is no clear path to this career.

[Bryan Hancock]

The best way to learn is through an apprenticeship from an experienced developer who you can learn to provide value to in some way.  What can you offer?

• Can you underwrite deals?  Can you do financial modeling?
• Can you locate and tie up deals?
• Can you find money for the project(s)?  If so, can you offer enough material value as a partner in some other capacity net of the risk the deal sponsor is taking associating with you?
• Are you coachable and willing to do non-glamorous tasking to help them leverage their time in trade for learning the ropes?
• Do you have the intellectual horsepower to execute development projects of your own, organize teams, raise capital, and act as a deal orchestrator and sufficient vision to serve the space market for your chosen product type?

The best thin you can do is put yourself in the shoes of the developer and ask yourself how the person approaching you adds value to YOUR day as the developer.  How do you make their life easier?  How can they do more deals, bigger deals, good deals, lower their cost of capital, increase access to capital, or get credit support needed to expand operations?  Figure out which angle works the best for your along with doing the work needed to identify the BEST developers in town for your product type, craft a proposal, and be willing to serve and learn the ropes along the way.  Be coachable.  Be loyal.  Everyone wants to "pick your brain" as the experienced developer.  If you're framed as one of N of these same types they think will waste their time and fizzle out think of how you can convince them that you're different or unique.  How can you present skin in the game to show you're serious and not just another giant time-waster looking to receive instead of give.  You need them FAR more than they need you, but if you present things well you can convince them you're worth the effort invested by delivering some of the value centers cited above.