What degree should a real estate developer have?

[FXtrader]

Does it matter? What should they get a degree? The college I'm going to doesn't have a real estate major or anything.

[FXtrader]

I know I'm at least going to minor in Chinese as I'm very interested in Chinese urban development. Would Chinese be okay as a major with a minor in something else like finance?

[thebackdoorman]

A real estate developer is not a job... in the traditional sense... one where you apply and based on your skills, you get it.
Real estate developers have capital.
To be in the industry then, it is a different question. Try engineering, math, economics, finance to be on the consulting/development/feasibility side. Maybe law.

[FXtrader]

Originally Posted by thebackdoorman

A real estate developer is not a job... in the traditional sense... one where you apply and based on your skills, you get it.
Real estate developers have capital.
To be in the industry then, it is a different question. Try engineering, math, economics, finance to be on the consulting/development/feasibility side. Maybe law.

Okay, let's say I have capital. I have like $30 M. Where do I go? What do I do?

[Nouvellecosse]

Originally Posted by FXtrader

Does it matter? What should they get a degree? The college I'm going to doesn't have a real estate major or anything.

Your degree should be in Business. As a developer, you'll be responsible for the financial part of creating a building. That includes raising the necessary money by attracting investors and applying for loans, as well as determining how much you can spend on each aspect of the development including land, materials, labour, and marketing, based on how much you expect to sell the property for. You'll also need to understand local market conditions in order to know what type of buildings are in demand and how much you can expect to sell one for.

You'll hire an architect to design the building, an engineer to determine how to execute the architect's design, marketing people to help sell the property once it's completed, and a lawyer to help navigate the local laws and regulations, and a construction company to do the actual building.

In other words, running a property development business will have many similarities to starting any other type of business, so the skills and training required will be similar as well. If you're starting out as an individual, you'll need a business plan. For instance, you may see a property for sale and decide that you could make money by buying it, building something that there's demand for, and selling for more than you paid for the land and to develop the building. If you do this successfully, you'll make a profit and can go on to the next development. If not, then hopefully you have enough money that you can adsorb the loss.

[Jan]

The #1 thing a developer is interested in is finding tenants because that determines the value of a property. After the contract has been signed, getting the thing built is being done by the lesser gods in the company. The one thing you want to focus on is a vast knowledge of the market, and a sensor for those who are looking for space. The money is in being the network. Not sure if there is a school for that though.

[Abinash89]

In India only muscle power is needed.If you have it then you can also be a real estate developer.

[particlez]

Originally Posted by Abinash89

In India only muscle power is needed.If you have it then you can also be a real estate developer.

Well done, sir.

It's not just in India. In "developed" nations, developers are required to have a lot of money and endless ambition. It helps if they cast away little things like a conscience. Then they draw a pentagram and summon the devil 3X.

Money is used to:

1. lobby government officials
2. buy publicity amongst the media
3. maybe donate money to academia to influence their attitudes

[Citystyle]

Three people best suited to starting a small development company IMO. You always need money and finance, but you can't expect to make a return without the right skills.

Property and Finance Economist - understand land values, financing of project, economies of scale required on apartments, rent ect..

Construction Manager/ Economist - quantities, estimate, tender, project manage.

Registered Builder - site management and quality control.

[Busiouty]

In India only muscle power is needed.If you have it then you can also be a real estate developer

[vikass]

hi all
a real estate developer has Master of Real Estate Development degree.
Real estate developers are the impresarios of the built environment. They orchestrate the talents of many players and balance the needs and interests of the various constituents touched by a development project. It is their job to discover how we want to live and work – and to provide the settings accordingly.

In many ways, a real estate developer is a creator of the urban landscape, working within a complex system of governance to tackle the challenge of converting undeveloped or under-utilized resources into homes, employment centers, civic areas, and places of recreation and commerce. With the excitement of finding place-based solutions to the unique set of problems presented by a development project, there also are the risks, rewards, and responsibilities that come with making our built environments more habitable and prosperous.

With greater frequency, community groups, government agencies, other property owners, and even the media are becoming involved in the development process. The capital markets, political and regulatory context, and major players change so rapidly that it is difficult to remain informed, let alone competitive. To deal with the complexity of the field and its far-reaching effects, today's industry professionals require advanced training to prepare them to operate in increasingly technical and interrelated areas.