When people think about getting a job in real estate, they typically think about being an agent or broker. While both can be fantastic career choices, the world of real estate is full of lucrative jobs. One of the most underrated careers in the field is a real estate developer. A real estate developer is either an individual or an entire business that watches over everyone involved with the construction or renovation of new buildings. In this article, we'll be going over how you can become a real estate developer.
Obtain Your College Degree
The first step of any career involves acquiring your college degree, says Anthony Minniti of Texas Land and Home. The degree you'll need is at least a BA in real estate. Alternatively, you can also aim for an undergraduate's degree in finance. Getting a master's degree in finance is a great way to maximize your chances of being hired. However, an MBA in finance can be very expensive to finance as they have an average cost of $65,000. It's possible to get it for a lower price, but it depends on the location and the learning institution's rates. Some areas charge students up to $80,000 for this degree. But that doesn't mean you shouldn't invest in it. You can easily pay for this degree by taking out a student loan. You don't have to be a full-time student either to get this degree. If you're someone who has a busy schedule, taking out part-time student loans are your best option.
You Have to Get Your Real Estate License
In the real estate industry, having a degree isn't enough verification. You also need to obtain the proper licensing. How you can get a real estate license varies on the state you're in. Most require you to pass the state exam and pass a background check. Some may also go the extra mile and require your fingerprints. Furthermore, getting a real estate license isn't free. The cost also varies as some may only charge $300 while others cost more than $1,000, says Scott Rubzin, founder of Tiffany Property Investments.
Get as Much Experience as You Can
Who said that all you needed was a college degree to be well-informed and experienced? While they're definitely going to make up a majority of your education, real estate is one of those fields that requires additional experience on top of it. In the case of a real estate developer, your best course of action is to get an internship within a real estate development program, suggests Carter Crowley, co-owner, licensed Realtor & senior acquisition manager for CB Home Solutions. Having at least two years of real estate experience under your belt will look great on a resume.
Study Your Target Market
Daniel Cabrera, founder of Sell My House Fast San Antonio says that real estate developers do have the opportunity to choose a preference within their field. Some developers opt for commercial real estate while others prefer developing residential buildings. Since you're a beginner, it's best to start off with one or the other, so you're not torn on what's best. Once you make your decision, your next step is to start researching your target market. Having a keen understanding of your market and the audience can give you insight on how to go about things.
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