All Forum Posts by: Christopher Christian

@Javier Osorio I actually decided against the MBA as many people who posted advised. The more I thought about it, the harder it was to justify the cost. I also realized there was no guarantee an MBA would land me a job in a new industry. I did, however, end up doing a real estate investment program at NYU School of Professional Studies where I made some great connections and learned quite a bit along the way. 

Thanks for the advice regarding FP&A. I'm a pretty strong Excel user and have done quite a bit of modelling. I still need to learn macros, though. 

Best of luck!

A lot of people say that if you find a great deal, the money will follow. On today's podcast (#307) Chad Doty said that's not necessarily the case. He said you have to also "be the person" that people would want to give money to. He said becoming that person is the first step to being successful in commercial multifamily.

So, here's my question: What do you think it means to become that person? A track record of successful deals is extremely helpful, obviously, but what would you work on if you had no deals under your belt? I'm asking this in the context of CRE investing, specifically.

Thanks!  

@Scott Nidell These are all excellent questions. I have considered some of them but not all, so I really appreciate your input. 

@Jim Goebel Super helpful advice. Thanks so much for your response and for pointing out the debt to income ratio issue as it relates to capital access. At this point, I'm not sure that I would have a competitive application for a top 15 school. The more I think of it, maybe it makes sense to try and find an employer who would cover a part-time MBA at a cheaper school if I do take the MBA route. 

Thanks for the reply! 

@Mandie Holmes Thanks so much for your reply! This is excellent advice. I never even considered that I would likely take a pay cut from a career change despite having an MBA. Thank you for sharing.  

@Tony Kim Hey Tony. You aren't being a jerk at all! Those are all very valid questions. It's a long story, but basically I left Texas and moved to NYC in 2008 at a time when the economy was doing terribly. On top of that, I entered the music business which was on it's knees at the time since it hadn't adjusted to new consumer habits. My dream was always to be in the music business in NYC, so when the largest music company in the world offered me a full time position I jumped on it. The position was EXTREMELY low paying, however, and wasn't one I particularly loved doing. Keep in mind I was already making around 80K a year in Texas in my late 20s and gave that up to follow what was my passion at the time. Over the next several years I made a couple of lateral moves to try and figure out what I wanted to do at the company (without promotions/raises), and it wasn't until two or three years ago I figured it out: Finance! 

My performance reviews, particularly since I have moved over to finance, have been excellent. I often come in on Saturdays and work extra hours during the week although I am a salaried employee who doesn't get overtime. I don't want to come across like I'm trying to make excuses, however. I can definitely up my game and am always striving to do so. So to answer the question, what I wanted and worked towards when I was 25 has drastically changed, and I have only really figured out in the past couple of years. I envy those who figure it all out from the very beginning, but this is the path I'm on and all I can do is look towards the future! 

Thanks so much for the response. 

@Ross NA Thanks for that additional insight. Much appreciated. 

@David H. Thanks for sharing that. One of the reasons I'm considering the MBA is so I can transition out of the industry I'm currently in (music business). My idea was to get a job at a large real estate firm to learn the industry, network, and to earn a higher income in order to benefit my personal real estate investing. The thought was that I would create synergies between a W-2 job in the real estate industry and my personal real estate investing. There is something to be said about just grinding it out where I am and moving forward with real estate investing now, though. It makes a lot of sense and something I am very heavily considering.  

Thanks for the response!

@Matt K. That would be an absolutely ideal scenario if I could get a new job in the field I want without going back to school. Maybe I'll just start applying to those higher-paying jobs and see what happens.

Thanks for the response! 

@Cam L. Thanks for the reply! I have not applied to the jobs I'm trying to get into yet, mainly because they seem to require some prior experience. For example, a real estate acquisitions analyst role I was looking at required a Bachelor’s degree and a minimum of 2-5 years of prior experience in investment banking or real estate. Being a corporate finance guy in the music industry, I have experience in neither. Sometimes I see roles that will require a couple of years of experience OR an MBA, so I was hoping the MBA would help with the lack of specific experience. But who knows? Maybe it is possible to make the jump via self-education and networking. I guess my best bet would be to try and meet people who are currently in these roles and get their take. 

Thanks for the advice, and best of luck with the B-school applications!