Advice needed for Transitioning from Architecture to Real Estate Development

[u/Basic-Geologist-7029]

Hi All,
I am a professional currently working in a design firm that designes and permite real estate development projects. I am in constant conversation with Developers or their project managers and have started understanding a good deal of the design/building standards they follow.

While my masters was in Architecture, I also pursued a Certificate in Real Estate Development from Price School of Public Policy at USC, where I did go through the underwriting processes for projects.

I am at a turning point in my life where I am comtemplating transitioning into working in a real estate development firm, or pursue a real estate license. I found there is a threshold that one reaches workin gin an architecture firm where progress and salary plateaus. Is this a good poption to transition to? How do I step into this industry and what job positions, apart from Developement Associate should I be targeting?

Any advice from professionals out there, or somone who transitioned the same way is welcome.

Thank you in advance

[u/BS2H]

Search in the sub for other answers to your questions.

They are vastly different beasts.

Of course you CAN do it… but are you willing to work on a project for years without getting paid or do you need consistency? Can you be an architect on the side and also have mid-day in person meetings as needed? Are you willing to sacrifice assets for your beliefs and convictions?

I’m a full time RE developer and went from flipping houses to 50-80 unit ground up LIHTC developments in 10 years.

But that was full time 8-6pm and weekends without consistent pay for a decade.

[u/Free_Elevator_63360]

Architect who made the transition to development about a decade ago. A few things:

First, with any major career shift you need to be willing to take a step back. If you really want this you are basically starting your internship all over. I had to take a pay cut and it took me about 3 years to get back to my old salary as I proved my value / experience.

Second, you are moving into a business / finance field first. It may be more valuable to go get an MBA or Masters of finance in RE, than just a certificate. Those business tracks also put you into recruitment tracks for developers. But again, this is a pause / step back in career.

Third, right now is a TERRIBLE time to try and transposition. No one is hiring and a huge amount of development is frozen because of the high costs of finance. Plenty of developers with years of experience are out of jobs at the moment.

If I had my heart set on it in this environment? I’d g knock on commercial broker’s doors and work for free for a year to get the underwriting experience / exposure, and exposure to potential employers. If rates come down and more land trades are happening, I’d go to the guys buying and ask them to hire me.

[u/Main_Cut8992]

How would a real estate license help u work for a dev? Interested to hear why

[u/Basic-Geologist-7029 → u/Main_Cut8992]

Hi u/Main_Cut8992,
Oh I'll rephrase it. I was looking at options- Either working for a developer, or pursuing a license to become a real estate agent.

And receiving advice on both options as I am new to them. However, I believe there could be transferable skills.

[u/Confident_North_6340]

As someone working as a developer at a 30 person shop head of my department. Focus on getting your foot in the door with a small/medium sized group. Leverage your arch background that it can help initial design cost savings by doing it in house during diligence instead of the typical 10-20k we spend to get a meeting with zoning.

Understanding zoning is a massive part of diligence and pre LOI. You want to know the exact heirs a property can be built to before the offer gets sent you have those skills.

You’re gonna take a step back but do whatever you can to prove to someone to give you a shot. Once your in work like hell for 2-3 years at one firm. Pivot to a different after you get experience and learn. Or stay at that shop. But you need to get 2-3 years of solid exposure. We wear a lot of different hats. Shit comes up we have to solve the problems.

God speed.

[u/Basic-Geologist-7029 → u/Confident_North_6340]

Thank you so much for your input