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Profile Request - 30/wh/m

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readeyjh
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Profile Request - 30/wh/m [#permalink] New post   10 Dec 2009, 22:50
Hey alex, I'd appreciate some input:

I'm a little older than it seems most mba students are - I'll be 31 next fall... I prefer to be on the west coast or in the northeast, but mainly I want to pursue Real Estate Development instead of continuing my current job in construction management.

My stats:
GMAT - 730
GPA - 2.9
UnderGrad - Vanderbilt University
Work Experience - 7 yrs, including project management
Good recommendations

What should be my safeties, probables and reaches?

Thanks!
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AlexMBAApply
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Re: Profile Request - 30/wh/m [#permalink] New post   13 Dec 2009, 18:11
Real estate = local.

Focus on MBA programs in the regions you want to work in.

There are only so many schools. If you're in California, then it's basically Stanford, Berkeley, UCLA, USC, UC-Irvine, Pepperdine, Santa Clara, SFSU (also depends on whether you want to be based in SoCal or NoCal). Northeast is also pretty broad -- Boston/NE, DC/Virginia, Philly, NYC, etc. They're all very local markets.

Keep in mind that if you want to do real estate development, the pedigree of your MBA will mean very little. It's about contacts, salesmanship and money. If you're interested in the "development" side more than the finance side, then you may want to consider a MS in Real Estate offered by schools like MIT or Berkeley (amongst others - although I really dont' know a whole lot about those programs).
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readeyjh
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Re: Profile Request - 30/wh/m [#permalink] New post   13 Dec 2009, 18:25
Thanks for your input!

I do want to do real estate development, but I also want to keep my options open. It may be that I can make some good money doing real estate finance for a couple years before doing development, at that point the pedigree would be important, right?

Plus, who knows what kind of doors will open at a top B-School... maybe I get in and change directions? I'd love to have those kind of options, so I am concerned with the pedigree of the program.

Do you agree?
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AlexMBAApply
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Re: Profile Request - 30/wh/m [#permalink] New post   14 Dec 2009, 20:42
Not sure why pedigree would matter in real estate development - you're going into an environment that is a heavy sales culture.

As for your other question re: open doors there's not a whole lot I can tell you because your question is so open ended. Pedigree isn't irrelevant, but it's importance is often overstated (and sometimes way overstated) by those who don't have it.
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readeyjh
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Re: Profile Request - 30/wh/m [#permalink] New post   14 Dec 2009, 23:02
Hey alex, why do you say real estate development is a heavy sales culture? I've been working in the industry for 7 years, and I would describe it as a project management culture...

Admittedly it has been with small companies, so am I missing something?
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Re: Profile Request - 30/wh/m [#permalink] New post   15 Dec 2009, 11:55
It's a sales culture in the sense that it's about results and access to money. It's entrepreneurial, and there isn't that thick layer of middle management where pedigree can help to differentiate you in an environment where the work and milestones are murkier.

Real estate development as you probably know isn't a place full of MBAs like Wall Street or management consulting. As such, the pedigree and network isn't going to do as much for you as you may think. In any case, it's a matter of opinion I suppose - if you really believe that having a prestigious school on your resume will really help you, go for it.
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Re: Profile Request - 30/wh/m [#permalink]
15 Dec 2009, 11:55

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