Lost Student Trying to Break Into CRE
The post is essentially what the title says.
Looking to break into CRE and eventually REPE. Currently Sophomore in undergrad. Feeling lost as not fully understanding CRE recruitment cycle timeline and best pathway to achieve my goals. Have looked into some RE associations. Would this be helpful? I know to network, maintain high GPA, relevant ECs....etc. How can I most effectively break in?
Diving into the world of Commercial Real Estate (CRE) and Real Estate Private Equity (REPE) can indeed seem daunting at first, especially when you're still navigating through your undergraduate studies. However, you're on the right track by considering networking, maintaining a high GPA, and engaging in relevant extracurricular activities. Here are some actionable steps and insights to help you break into CRE and eventually REPE:
Understand the CRE Recruitment Cycle: Typically, CRE firms start looking for interns and new hires a year in advance. For summer internships, applications might open as early as the fall of the previous year. It's crucial to research and mark these timelines to ensure you don't miss out on opportunities.
Leverage Real Estate Associations: Joining real estate associations can be incredibly beneficial. They offer networking opportunities, industry insights, and often have resources for students looking to break into the field. Consider national organizations like the Urban Land Institute (ULI) or the National Association of Industrial and Office Properties (NAIOP), as well as any local or school-specific real estate clubs.
Networking is Key: You've already identified networking as crucial, and it truly is. Attend industry events, reach out to alumni working in CRE, and don't hesitate to ask for informational interviews. These connections can provide valuable advice, inform you about recruitment cycles, and potentially offer referrals.
Focus on Relevant Skills and Knowledge: While maintaining a high GPA, also focus on courses and certifications that will make you stand out. Courses in real estate finance, investment analysis, and urban planning are beneficial. Additionally, consider certifications like ARGUS or a course in financial modeling specific to real estate.
Gain Practical Experience: Internships are invaluable. Look for internships not only in CRE firms but also in related fields like real estate development, investment banking, or asset management firms with a real estate focus. These experiences will give you a solid foundation and make your resume stand out.
Showcase Your Passion and Knowledge: Start a blog, contribute to real estate forums like Wall Street Oasis, or participate in real estate case competitions. These activities demonstrate your interest and initiative in the field of CRE and REPE.
Prepare for Interviews: Understand the types of questions you might face in CRE interviews, including technical questions about real estate finance and valuation. Resources from Wall Street Oasis and other finance-focused platforms can be invaluable for preparation.
Remember, breaking into CRE and REPE is a marathon, not a sprint. It requires persistence, networking, and continuous learning. By following these steps and staying proactive, you'll significantly increase your chances of breaking into the field.
Sources: Having a very difficult time breaking into CRE (Please Help - I'm Desperate), Having a very difficult time breaking into CRE (Please Help - I'm Desperate), Best way to break into CRE coming from a computer science background?
I’m in the same boat, but I am a senior at a top 25 business school. I would recommend getting a real estate license, and completing a financial modeling course so that you have some relevance on your resume. After that, work on networking with professionals at the companies you want to work at. Could be a brokerage firm like CBRE, Marcus & Millichap, JLL or other development firms like Toll Brothers, Lennar, and others. It all depends on what you want to do. You could do a property management internship at Greystar or a leasing position. All of these skills are necessary and provide the right contacts if you’re going to be entrepreneurial as an end goal.
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