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Break Into CRE
United States
Приєднався 13 лют 2018
Welcome to the Break Into CRE UA-cam channel!
On this channel we talk about real estate investing careers and real estate financial modeling, so if you're looking to break into the real estate investment industry for the first time, advance your current real estate investing career, or do your first deal on your own, you're in the right place.
Make sure to hit the Subscribe button and hit the notification bell to make sure you catch every new video we release.
Great to have you here!
On this channel we talk about real estate investing careers and real estate financial modeling, so if you're looking to break into the real estate investment industry for the first time, advance your current real estate investing career, or do your first deal on your own, you're in the right place.
Make sure to hit the Subscribe button and hit the notification bell to make sure you catch every new video we release.
Great to have you here!
Development vs. Acquisitions [Real Estate Careers]
Development vs. Acquisitions - Real Estate Careers // In commercial real estate, acquisitions and development roles are often lumped together when discussing career paths, but each provides very different experiences.
These differences include day-to-day responsibilities, the people you'll be working with, and considerations for real estate entrepreneurs planning to go out on their own, and in this video, I want to talk through the main differences between a career in real estate acquisitions and a career in real estate development.
💻 TRAINING & COURSES 💻
Enroll in the FREE Break Into CRE Real Estate Financial Modeling Crash Course here: www.breakintocre.com/free-crash-course
Enroll in any Break Into CRE course here: breakintocre.com/courses/
Get access to all Break Into CRE courses, all models, and additional one-on-one support with a Break Into CRE Academy membership: breakintocre.com/the-academy
**💰 MY FAVORITE REAL ESTATE INVESTMENT PLATFORMS 💰
EquityMultiple: equitymultiple.4drrzr.net/c/2975738/751081/10943
Crowdstreet: crowdstreet.4cl7.net/c/2975738/592761/9753
RealtyMogul: realtymogul.pxf.io/c/2975738/1008102/13202
** 📰 MY FAVORITE REAL ESTATE NEWSLETTER 📰
Thesis Driven (20% off a paid subscription): www.thesisdriven.com/breakintocre
** 🏬 RESIDENTIAL RENT DATA & ESTIMATES 🏬
RentCast: rentcast.io?via=breakintocre
🕒 Timestamps 🕒
0:00 Introduction
0:35 Development
3:03 Acquisitions
5:06 Other Considerations
#realestatecareers #commercialrealestate
*Nothing in this video should be construed as tax, legal, accounting, valuation, or financial advice or recommendation. All information in this video is intended solely for educational purposes, and you are advised to consult with your own personal professional advisors regarding your personal investment decisions.
**AFFILIATE DISCLOSURE: Some of the links in this description are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or create an account.
Research and articles referenced in this video:
reason.com/2023/10/26/damning-new-audit-finds-san-francisco-takes-3-years-to-approve-new-housing/
www.sfchronicle.com/sf/article/housing-permits-san-francisco-17652633.php
fred.stlouisfed.org/series/WPUSI012011
sfplanning.org/permit/developers
www.glassdoor.com/Salary/Hines-Interests-Limited-Partnership-Development-Analyst-Salaries-E4612_D_KO36,55.htm
www.glassdoor.com/Salary/The-Blackstone-Group-Real-Estate-Acquisitions-Analyst-United-States-of-America-Salaries-EJI_IE4022.0,20_KO21,53_IL.54,78.htm
www.glassdoor.com/Salary/Starwood-Capital-Acquisition-Analyst-Salaries-E40344_D_KO17,36.htm
These differences include day-to-day responsibilities, the people you'll be working with, and considerations for real estate entrepreneurs planning to go out on their own, and in this video, I want to talk through the main differences between a career in real estate acquisitions and a career in real estate development.
💻 TRAINING & COURSES 💻
Enroll in the FREE Break Into CRE Real Estate Financial Modeling Crash Course here: www.breakintocre.com/free-crash-course
Enroll in any Break Into CRE course here: breakintocre.com/courses/
Get access to all Break Into CRE courses, all models, and additional one-on-one support with a Break Into CRE Academy membership: breakintocre.com/the-academy
**💰 MY FAVORITE REAL ESTATE INVESTMENT PLATFORMS 💰
EquityMultiple: equitymultiple.4drrzr.net/c/2975738/751081/10943
Crowdstreet: crowdstreet.4cl7.net/c/2975738/592761/9753
RealtyMogul: realtymogul.pxf.io/c/2975738/1008102/13202
** 📰 MY FAVORITE REAL ESTATE NEWSLETTER 📰
Thesis Driven (20% off a paid subscription): www.thesisdriven.com/breakintocre
** 🏬 RESIDENTIAL RENT DATA & ESTIMATES 🏬
RentCast: rentcast.io?via=breakintocre
🕒 Timestamps 🕒
0:00 Introduction
0:35 Development
3:03 Acquisitions
5:06 Other Considerations
#realestatecareers #commercialrealestate
*Nothing in this video should be construed as tax, legal, accounting, valuation, or financial advice or recommendation. All information in this video is intended solely for educational purposes, and you are advised to consult with your own personal professional advisors regarding your personal investment decisions.
**AFFILIATE DISCLOSURE: Some of the links in this description are affiliate links, meaning, at no additional cost to you, we may earn a commission if you click through and make a purchase and/or create an account.
Research and articles referenced in this video:
reason.com/2023/10/26/damning-new-audit-finds-san-francisco-takes-3-years-to-approve-new-housing/
www.sfchronicle.com/sf/article/housing-permits-san-francisco-17652633.php
fred.stlouisfed.org/series/WPUSI012011
sfplanning.org/permit/developers
www.glassdoor.com/Salary/Hines-Interests-Limited-Partnership-Development-Analyst-Salaries-E4612_D_KO36,55.htm
www.glassdoor.com/Salary/The-Blackstone-Group-Real-Estate-Acquisitions-Analyst-United-States-of-America-Salaries-EJI_IE4022.0,20_KO21,53_IL.54,78.htm
www.glassdoor.com/Salary/Starwood-Capital-Acquisition-Analyst-Salaries-E40344_D_KO17,36.htm
Переглядів: 3 695
Відео
4 Real Estate Career Mistakes To AVOID [& What To Do Instead]
Переглядів 2,7 тис.День тому
4 Real Estate Career Mistakes To AVOID // We talk a lot on this channel about what to do in the beginning of your real estate career, but in this video, I want to zoom in on some things that can really derail your growth in this industry when you’re just getting started. These are the things I’ve seen have the most detrimental effects on young professionals in commercial real estate, and some t...
The Reality of Working in Real Estate Private Equity
Переглядів 11 тис.14 днів тому
The Reality of Working in Real Estate Private Equity // When I was first starting my career in commercial real estate, anything labeled "private equity" was very foreign to me, and it took a lot of conversations with people who were already in the industry to really get a good sense of what this actually meant. And because real estate private equity is where a lot of people who want to break in...
4 Strategies To Ace a Real Estate Excel Modeling Case Study
Переглядів 2 тис.21 день тому
4 Strategies To Ace a Real Estate Excel Modeling Case Study // Excel modeling case studies are becoming more and more common in the real estate interview process, especially at some of the biggest firms in the industry (that also tend to pay the most). So to make sure you have a game plan going into an exam, this video walks through four of my biggest pieces of advice when working through an Ex...
Interest Rate Cuts Might Not Be Enough To Save Commercial Real Estate - Here's Why
Переглядів 4,6 тис.Місяць тому
Interest Rate Cuts Might Not Be Enough To Save Commercial Real Estate - Here's Why // There's been a lot of talk about potential interest rate cuts over the last 6 months, and how these need to happen as soon as possible in order to save commercial real estate borrowers. But even though interest rate cuts could be helpful in some scenarios, these might not have the kinds of widespread positive ...
5 Things To Know BEFORE Getting Into Commercial Real Estate
Переглядів 2,7 тис.Місяць тому
5 Things To Know BEFORE Getting Into Commercial Real Estate // There are a lot of things that I wish I knew before starting my career in commercial real estate, but there are a few things that really stand out that, if I knew earlier, would have saved me a lot of time, money, and frustration overall. So in this video, I want to share five things that stand out to me as some of the most helpful ...
Lessons Learned From The Bottom of the CRE Market
Переглядів 4,3 тис.Місяць тому
Lessons Learned From The Bottom of the CRE Market // Transaction activity in commercial real estate across the board is down in a big way, hiring frequency isn't anywhere close to where it was back in 2021, and for investors who bought properties at the peak with short-term, floating-rate debt, there have been (and will likely continue to be) some pretty tough decisions to make. And in this vid...
What I've Learned Since Starting Break Into CRE
Переглядів 2,2 тис.Місяць тому
What I've Learned Since Starting Break Into CRE // I started this UA-cam channel back in 2019, and since then, the past 5 years have given me an inside look into the goals, interests, and concerns of tens of thousands of people interested in commercial real estate. So in this video, I want to pull back the curtain and share with you 3 of the most important things I’ve learned since starting Bre...
4 [Advanced] Real Estate Investment Analyses You Should Be Using
Переглядів 4,2 тис.2 місяці тому
4 [Advanced] Real Estate Investment Analyses You Should Be Using // There are a lot of things that you can do to improve a real estate investment analysis, but if you really want to take things to the next level, there are a few extras that are definitely worth considering adding to your real estate financial models. These things can help you proactively address investor concerns, add an extra ...
IRR vs. Equity Multiple - Which is More Important? [Real Estate]
Переглядів 3,8 тис.2 місяці тому
IRR vs. Equity Multiple - Which is More Important? [Real Estate] // The IRR and the equity multiple both serve really important functions within a real estate investment analysis, but these also serve very different purposes when it comes to the underwriting process. And even though these tend to be added to financial models and investment materials alongside each other, the importance of each ...
How Would You Invest $100 Million in Real Estate? [Interview Prep]
Переглядів 7 тис.2 місяці тому
How Would You Invest $100 Million in Real Estate? [Interview Prep] // One of the most common commercial real estate interview questions that analyst and associate candidates are often asked is, "If you had $100 million, where would you invest that money, and why would you make that choice?" And to answer this question, you need to have a baseline knowledge of both what's going on in different p...
Multifamily Real Estate's Challenging Road Ahead
Переглядів 7 тис.2 місяці тому
Multifamily Real Estate's Challenging Road Ahead // Right now, we’re starting to see some major issues popping up in the multifamily sector, with delinquency rates increasing, supply coming online in record numbers, and vacancy starting to tick up in many markets across the country. And because of these changes, multifamily owners are starting to see rents flatten out or even decrease in some m...
Who's Buying & Selling Commercial Real Estate Today [& Why]
Переглядів 3,3 тис.2 місяці тому
Who's Buying & Selling Commercial Real Estate Today [& Why] // Transaction volume in commercial real estate fell off a cliff last year, with a 44% reduction in investment sales activity between Q4 2022 and Q4 2023 according to CBRE Research. But even though we've seen a huge drop in investment sales activity, there are still deals getting done in the market, and this video highlights what’s dri...
5 Real Estate Resume Rules To Land More Interviews
Переглядів 2,2 тис.3 місяці тому
5 Real Estate Resume Rules To Land More Interviews // Commercial real estate transaction volume has been hit hard over the last two years, and because of this, the revenues of many major brokerage, investment, and lending firms have also fallen a lot. And with less money to go around, hiring at these companies has also slowed down, with firms becoming extremely selective if they do bring someon...
The State of Commercial Real Estate in 2024
Переглядів 7 тис.3 місяці тому
The State of Commercial Real Estate in 2024 // There’s a lot of noise in the news lately about commercial real estate, and mainstream media is making it seem like the entire industry is on the brink of collapse, and every property owner is going to get hurt. But the reality is that commercial real estate is made up of a lot of different product types and geographic markets, each of which can pe...
Real Estate Career Advice For My 22-Year Old Self
Переглядів 6 тис.3 місяці тому
Real Estate Career Advice For My 22-Year Old Self
The Good [& Bad] of Real Estate Asset Management Careers
Переглядів 6 тис.3 місяці тому
The Good [& Bad] of Real Estate Asset Management Careers
Assumable Loans Explained [Pros & Cons]
Переглядів 2,9 тис.4 місяці тому
Assumable Loans Explained [Pros & Cons]
Is a Master's in Real Estate Worth It?
Переглядів 4,4 тис.4 місяці тому
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How To Break Into Real Estate Acquisitions
Переглядів 4,5 тис.4 місяці тому
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Commercial Real Estate Loan Payments Explained
Переглядів 4,3 тис.4 місяці тому
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What NOT To Say in a Real Estate Interview
Переглядів 4,4 тис.5 місяців тому
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Discounted Cash Flow Analysis (DCF) in Real Estate Explained
Переглядів 11 тис.5 місяців тому
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How To STAND OUT in a Real Estate Interview
Переглядів 3,8 тис.5 місяців тому
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A Beginner's Guide To Real Estate Equity Waterfalls
Переглядів 10 тис.5 місяців тому
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What Falling Interest Rates Could Mean For Real Estate in 2024
Переглядів 4,5 тис.5 місяців тому
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Looking For a Real Estate Job in 2024? Watch This.
Переглядів 4 тис.6 місяців тому
Looking For a Real Estate Job in 2024? Watch This.
Rising Interest Rates Aren't The Only Problem in CRE - Here's Why
Переглядів 3,7 тис.6 місяців тому
Rising Interest Rates Aren't The Only Problem in CRE - Here's Why
How To Prepare For a Real Estate Financial Modeling Excel Test
Переглядів 3,8 тис.6 місяців тому
How To Prepare For a Real Estate Financial Modeling Excel Test
The Rescue Capital That's 'Saving' Commercial Real Estate
Переглядів 4,5 тис.6 місяців тому
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Thank u sir for suggestion
I have worked in both sides of the industry, and although Acquisitions has a lot of potential for scalability, I still prefer development. You just have to be a kind of professional that is comfortable with risk and uncertainty but could be incredibly rewarding if done right and diligently.
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key is diversification. Personally, I delegate my investing to an advisor, cos my job doesn't permit the time to perform market analysis myself. Thankfully, my once ago stagnant portfolio has now 5X in barely 4 years, summing up almost 7 figure as of today.
i'm blown away! more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one... they all seem to be involved in either real estate, stocks, or crypto
Can't share much here, I take guidance from Evelyn Infurna a renowned figure in her industry with over two decades of work experience. I'd suggest you research her further on the web.
Thank you
Thank you!
Hi Justin, I’m an architect with 4 years of experience working for a developer across all aspects of the project side, but I am keen on venturing into development as an entrepreneur, as a more long term goal. As a move to learn more about the business side of real estate I’ve decided to undertake a masters in real estate which will focus on RE finance. Considering a developer also needs to understand how capital/debt markets and mechanics work, post graduating from my masters would you suggest a few (2/3) years in an acquisition focused role to better understand said mechanics or would you suggest working on the business side at a development shop (ie. Corporate finance/strategy etc.)? Looking forward to hearing from you! Thanks, Karan
I was literally just searching UA-cam last week for videos of you talking about development as a career, glad you made one!
I was going to watch your video but your facial expressions were just too annoying.
Can you make a video discussing the pros and cons of being in an acquisitions position as an LP vs GP? Comp in early years vs comp later on? What are the main questions to answer when deciding which path to go?
Whats kind of jobs would offer a role that involves both? I dont want to be stuck doing only one thing, working in both would be ideal.
I have been in sales for 3 years now but have an education in finance and did the REFAI certification for fun. I’m trying to change career path and go into RE. Any recommendations ? Certifications or so ?
Hello Justin! Couldn't reach you on LinkedIn so I will try to get your advice here. Can someone from your team help with career traction for my personal situation? Do you have some career consultation in Break into CRE?
Would you say working in development is more excel/numbers heavy or design/people relations heavy?
The latter for sure
I prefer dev for my private portfolio & acq for 3rd parties
Thanks for adding this! Very interesting - any specific reason why that's the case?
@@BreakIntoCRE I’d assume dev for private portfolios bc of the amount of control compared to that with 3rd parties.
Would you say that working as an Acquisitions analyst for a value-add developer is a nice middle ground between both areas of the sector? I'm looking to move from being an analyst for a brokerage firm and go into development, so I can eventually do my own deals. I would love to see your take on this Justin.
Great question - in my experience, I've found that even when working on acquisitions with a heavy value-add component, it's relatively rare to get too far in the weeds in the construction process and learn the things you'd need to learn to be a skilled developer. If at all possible, transitioning straight into working on land acquisitions and ground-up development projects after your time in brokerage would be ideal.
Would like your take on this, I am currently a broker (2 yr experience) and will be moving to larger market/ state. I've been taking your modeling courses for a while now and am interested in looking into acquisition and development positions. Would an acquisitions/ or dev. role make more than a broker at a top 5 shop, or move into a brokerage role then transition to an acquisitions role later on.
If you're looking to maximize comp, in more "normalized" market conditions (not the ~70% YoY drop in transactions we've seen in 2024), high performing brokers at top 5 shops (CBRE/JLL/Cushman/Eastdil/Newmark) will typically make more than their counterparts working in acquisitions or brokerage roles ~5-7 years in to their careers. It's also usually significantly easier to transition from investment sales to acquisitions than vice versa (assuming you have a strong technical skill set), so staying in brokerage in your new market and transitioning into acquisitions or development after ~2-4 years could be a great move. Good luck!
@@BreakIntoCRE Awesome, that was my thought process as well, thanks for the input
I think it takes a certain type of person to be a developer IMO. It’s not an industry for everyone, you have to be patient, extremely optimistic but also not be bothered by disappointment. Seeing an area go from nothing, to apartments, retail, etc is something I personally love.
Completely agreed - thanks for adding this!
love this was really helpful I'm writing my 1st pitch deck and your smile in delivery help me feel less stressed ahaha thank you
will a degree from WGU in data analytics assist me in obtaining this occupation?
Love the videos Justin! A video on pros and cons of leasing brokerage vs sales (capital markets) brokerage would be very helpful
Great advice!! The key is to always have an end goal, well said!
Justin I just want to say thank you. I took many of your courses on Udemy and they help me tremendously. I am serious, I could have not have done this without your materials. Keep on with the good work!
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
Her good reputation already speaks for her .I’m also one of the beneficiary of Natalie Strayer. So happy I gave it a trial after being skeptic of the process.
Just starting my career as a leasing broker for Newmark- I’m already wanting to break into a Capital Markets role. What’re your thoughts on leasing and do you think it would be smart to make that switch? What can I do to prepare for that switch? Thanks!
How do you break into CRE if you don’t have background experience and a college degree?? Having that problem right now but i do have my real estate license
If your young and trying to break in look at Matthews REIS
I'm a residential real estate appraiser looking to get out of that. It's tough right now and this is the second big slowdown of my career (2008-2012 was rough too). If I've been self-employed for so long, will companies in CRE not be interested in hiring me? All I've heard is no.
Great content, I’m new to CRE. Thanks for the advice
Glad it was helpful!
Great insights Justin! Having the end goal in mind and thinking like the owner are crucial.
Excellent breakdown. More on PERE!
I came across your channel just today.. and I must say, you’ve great contents. Learning so much from your videos. Great job!
Hi Justing, great work as always. Could you please do some material covering valuation & advisory role and the transition from there to other roles / departments? Thanks.
I think a great video idea would be to do a deep dive on the typical role and responsibilities an associate level position on the GP side would have during the due diligence process. What should an associate be expected to handle once a deal is sourced and the underwriting is complete but the transaction is not closed?
Great video! I'd be interested to learn more about Hedge Funds specialized in Commercial Real Estate by trading REITs mainly (Cohen and Steers, etc...)
Thanks again for another great video! Cheers
It’s funny that private equity RE companies have everything except private equality, so they need to raise it
What do you mean
I mean it how I say it
@@mostimusic2616 So by “private equality” you mean more diversity on the teams that matter ?
Great info 👍
Great content as always Justin, thank you for making these videos they are all very helpful!
Thank you!
I really enjoy listening to your videos and insights. Can you please make a video on becoming a real estate valuer / appraiser. Thank you1
Thank you very much! Was riveting to watch especially because I am searching for opportunities right now
Really glad it was helpful - good luck with the job search!
Can you make a video on the Cortland raid/Realpage investigation?
Great work Justin. Can you make a video showcasing how fund/portfolio modelling is different to Asset level modelling ? Thanks
Would love to see this as well
Great feedback - thanks for posting this!
Which of these paths are you most interested in?
Your comment about how your previous roles in the industry will influence whether or not you become a developer or an acquisitions professional is spot on.
thank you, this boosted my confidence while applying
Thank you !!!!! & FYI your hair looks nice : )
Great video! I use IRR to compare investments
I'm seeing a shift towards industrial and logistics properties, driven by e-commerce growth.
Hey Justin, just wanted to let you know that I was accepted to join Eastdil Secured's Virtual Real Estate Training Program, which oculd give me the opportunity for a summer internship next year, and I couldn't have done it without you. Any tips for exceling this training and getting that summer internship? Best regards, David.
This is amazing! Congratulations, David! My biggest pieces of advice are to pay extreme attention to detail in your work and do everything you can to schedule one-on-one conversations with Eastdil team members you work with outside of the training itself. This program will look excellent on your resume - congratulations on being accepted!
I was accepted to it too. Are you also starting June 17th?
What are some things you've seen your most successful friends and peers do early on in their careers to set themselves apart?
Very helpful information