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abandon biglaw offer to pursue commercial real estate dev?

the situation: just-graduated 3L with an offer at a major ma...
titillating violent turdskin fat ankles
  06/13/15
Bullshit.
Big Flickering Haunted Graveyard Stock Car
  06/16/15
do not look back
low-t unholy church building multi-billionaire
  06/13/15
Guess I can stop checking my email to see if Johnsmeyer has ...
Citrine very tactful resort brethren
  06/13/15
sadly this is urban CRE and i won't know the joys and intric...
titillating violent turdskin fat ankles
  06/13/15
CRE will always be there if you want it. BigLawl will not.
irradiated hairless parlor
  06/13/15
do you think this is true re: CRE? bearing in mind that this...
titillating violent turdskin fat ankles
  06/13/15
(literally the worst advice ever poasted)
Carmine Electric Furnace Boiling Water
  06/13/15
...
Supple Garnet Really Tough Guy
  06/14/15
...
cerise institution messiness
  06/14/15
...
talented ebony box office
  06/14/15
go do CRE you idiot. you know that you are better suited fo...
Narrow-minded Therapy
  06/13/15
thank you. i think you're right.
titillating violent turdskin fat ankles
  06/13/15
btw, you will also probably suck at biglaw so I wouldn't fac...
Narrow-minded Therapy
  06/13/15
no, agreed that i will definitely suck. the choice is basica...
titillating violent turdskin fat ankles
  06/13/15
...
flushed embarrassed to the bone son of senegal
  06/14/15
flame. but why the fuck would you even ask this question?
Pungent Laughsome Spot
  06/13/15
like every idiot who attended LS, i am somewhat risk averse....
titillating violent turdskin fat ankles
  06/13/15
THIS IS YOUR FUCKING BEST CHANCE IN LIFE YOU IDIOT. DO NOT P...
boyish dilemma partner
  06/13/15
cr
cerise institution messiness
  06/14/15
Take the CRE opportunity, aggressively refi your loans down ...
boyish dilemma partner
  06/13/15
...
low-t unholy church building multi-billionaire
  06/13/15
A lot more shit on your college and law school campuses were...
Carmine Electric Furnace Boiling Water
  06/13/15
Let's switch up the facts w a little hypo. What if the guy h...
overrated translucent market french chef
  06/13/15
...
overrated translucent market french chef
  06/14/15
Depends, how FRATTY is the team he's joining
Supple Garnet Really Tough Guy
  06/14/15
BAIN Dallas
overrated translucent market french chef
  06/14/15
Didn't read OP but yes of course
scarlet curious indian lodge pervert
  06/13/15
"i am generally ill-suited to working for others and sk...
Painfully honest point queen of the night
  06/14/15
This thread is a good example of the doors law school can op...
overrated translucent market french chef
  06/14/15
...
overrated translucent market french chef
  06/14/15
You should probably think about why this multimillion dolar ...
stirring national
  06/14/15
...
Dun medicated plaza jew
  06/14/15
"There is an old story about a financial economist and ...
titillating violent turdskin fat ankles
  06/16/15
what experience do you have managing people and projects?
Dun medicated plaza jew
  06/14/15
TBF not sure what kind of advice you even hope to get here. ...
Lilac cuckoldry lodge
  06/14/15
Op - listen to Colt
stimulating lime public bath
  06/14/15
Flame. What the fuck kind of CRE project pays out that much ...
Tripping 180 stage
  06/14/15
It sounds like he is talking about a back-in after payout, w...
boyish dilemma partner
  06/14/15
his prediction is also probably wildly optimistic, but that'...
cerise institution messiness
  06/14/15
this is correct
titillating violent turdskin fat ankles
  06/15/15
So you have no experience managing commercial development......
charismatic maize crotch hell
  06/14/15
Cr OP has some further explaining to do before I can make th...
Sadistic purple shrine
  06/14/15
what difference does it make? it'll get him good experience...
cerise institution messiness
  06/14/15
the difference is, if he is lying about one thing, he may be...
charismatic maize crotch hell
  06/14/15
Not disagreeing but that line of discussion is not super hel...
boyish dilemma partner
  06/14/15
I'm guessing it is some hookup from his dad or uncle or some...
cheese-eating jet cruise ship
  06/14/15
yep that's how u make it in amerika. these faggots then tell...
Black Chad
  06/14/15
Even if it is a major hookup, no one/group with $20 million ...
charismatic maize crotch hell
  06/14/15
presumably you understand that a $20 million project does no...
titillating violent turdskin fat ankles
  06/15/15
there's a family connection to the prospective investors, ye...
titillating violent turdskin fat ankles
  06/15/15
it sounds almost as crazy as the idea that somebody with no ...
Carmine Electric Furnace Boiling Water
  06/14/15
Well, except that happens all the time. What the OP is desc...
cheese-eating jet cruise ship
  06/14/15
$160,000 is compensation for potential which is signaled by ...
charismatic maize crotch hell
  06/14/15
>>Most of these jobs are no partners track except in n...
Comical International Law Enforcement Agency
  06/16/15
bros should I take 3.5mm/yr for a CRE project or work at DLA...
overrated translucent market french chef
  04/21/17


Poast new message in this thread



Reply Favorite

Date: June 13th, 2015 7:48 PM
Author: titillating violent turdskin fat ankles

the situation: just-graduated 3L with an offer at a major market V50, low 100s in debt. through personal connections, some shit i learned in/prior to LS, and a ton of luck, i've been offered the opportunity to manage a ~$20m commercial real estate project from start to finish. details are still hazy but i would pull a salary around $75-90k for 2.5 years while working on the project and 25-30% equity in the project, which i estimate would be worth $8-10m net of debt in 7 years.

pros: the upside is obviously huge. i am more interested in the CRE opportunity. i would be self-employed and self-directed. i am generally ill-suited to working for others and skilled at managing people and projects.

cons: much higher chance of failure. the development is relatively high risk/high reward. i would live like a pauper while making loan payments until the payout, which is quite a ways down the road.

input welcome. seems like i know the answer already but it's always good to see if others have insights i missed.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112200)



Reply Favorite

Date: June 16th, 2015 12:32 AM
Author: Big Flickering Haunted Graveyard Stock Car

Bullshit.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129858)



Reply Favorite

Date: June 13th, 2015 7:49 PM
Author: low-t unholy church building multi-billionaire

do not look back

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112208)



Reply Favorite

Date: June 13th, 2015 7:53 PM
Author: Citrine very tactful resort brethren

Guess I can stop checking my email to see if Johnsmeyer has responded to my application to manage that Mega farm he inherited.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112251)



Reply Favorite

Date: June 13th, 2015 7:54 PM
Author: titillating violent turdskin fat ankles

sadly this is urban CRE and i won't know the joys and intricacies of BBW ranching... yet.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112262)



Reply Favorite

Date: June 13th, 2015 7:59 PM
Author: irradiated hairless parlor

CRE will always be there if you want it. BigLawl will not.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112301)



Reply Favorite

Date: June 13th, 2015 8:04 PM
Author: titillating violent turdskin fat ankles

do you think this is true re: CRE? bearing in mind that this is not an entry-level associate position at a CRE firm but a chance to manage & be a full-fledged partner on a project.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112339)



Reply Favorite

Date: June 13th, 2015 8:28 PM
Author: Carmine Electric Furnace Boiling Water

(literally the worst advice ever poasted)

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112517)



Reply Favorite

Date: June 14th, 2015 1:58 AM
Author: Supple Garnet Really Tough Guy



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114519)



Reply Favorite

Date: June 14th, 2015 10:21 AM
Author: cerise institution messiness



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115671)



Reply Favorite

Date: June 14th, 2015 1:52 AM
Author: talented ebony box office



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114492)



Reply Favorite

Date: June 13th, 2015 8:15 PM
Author: Narrow-minded Therapy

go do CRE you idiot. you know that you are better suited for, and more interested in it. Even if it doesn't pan out you'll get some experience and contacts and can keep progressing.

Whereas if you do biglaw, you'll make an extra 200k over that 2 year span (100k after taxes) but will have been miserable and have no relevant experience.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112416)



Reply Favorite

Date: June 13th, 2015 8:26 PM
Author: titillating violent turdskin fat ankles

thank you. i think you're right.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112504)



Reply Favorite

Date: June 13th, 2015 8:30 PM
Author: Narrow-minded Therapy

btw, you will also probably suck at biglaw so I wouldn't factor in any possibility that you can maek it to partner. no offense, but most people suck, especially those that dont want to be lawyers.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112531)



Reply Favorite

Date: June 13th, 2015 8:58 PM
Author: titillating violent turdskin fat ankles

no, agreed that i will definitely suck. the choice is basically take this chance now or put in my 3 years to pay off my loans before doing something similar to this.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112747)



Reply Favorite

Date: June 14th, 2015 1:51 AM
Author: flushed embarrassed to the bone son of senegal



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114486)



Reply Favorite

Date: June 13th, 2015 8:17 PM
Author: Pungent Laughsome Spot

flame. but why the fuck would you even ask this question?

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112440)



Reply Favorite

Date: June 13th, 2015 8:27 PM
Author: titillating violent turdskin fat ankles

like every idiot who attended LS, i am somewhat risk averse. i also have personal connections in the major market where my V50 would be. i'm trying not to factor that into what i think should be a professional decision, but it's tricky. (the CRE gig is in my secondary city hometown.)

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112510)



Reply Favorite

Date: June 13th, 2015 8:32 PM
Author: boyish dilemma partner

THIS IS YOUR FUCKING BEST CHANCE IN LIFE YOU IDIOT. DO NOT PASS THIS UP. EVEN IF YOU FAIL COMPLETELY, YOU WILL BE 100% MORE PREPARED FOR 100% MORE INTERESTING AND MORE LUCRATIVE SHIT THAN BIGLAW. DO NOT FUCK THIS UP.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112549)



Reply Favorite

Date: June 14th, 2015 10:21 AM
Author: cerise institution messiness

cr

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115676)



Reply Favorite

Date: June 13th, 2015 8:19 PM
Author: boyish dilemma partner

Take the CRE opportunity, aggressively refi your loans down to <3.0% interst, do not look back

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112454)



Reply Favorite

Date: June 13th, 2015 8:24 PM
Author: low-t unholy church building multi-billionaire



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112487)



Reply Favorite

Date: June 13th, 2015 8:29 PM
Author: Carmine Electric Furnace Boiling Water

A lot more shit on your college and law school campuses were named for real estate developers than for lawyers. HTFT.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28112522)



Reply Favorite

Date: June 13th, 2015 11:26 PM
Author: overrated translucent market french chef

Let's switch up the facts w a little hypo. What if the guy had an MBB associate offer instead of Biglaw?

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28113613)



Reply Favorite

Date: June 14th, 2015 12:25 AM
Author: overrated translucent market french chef



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114066)



Reply Favorite

Date: June 14th, 2015 1:58 AM
Author: Supple Garnet Really Tough Guy

Depends, how FRATTY is the team he's joining

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114517)



Reply Favorite

Date: June 14th, 2015 2:20 AM
Author: overrated translucent market french chef

BAIN Dallas

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114641)



Reply Favorite

Date: June 13th, 2015 11:28 PM
Author: scarlet curious indian lodge pervert

Didn't read OP but yes of course

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28113627)



Reply Favorite

Date: June 14th, 2015 2:00 AM
Author: Painfully honest point queen of the night

"i am generally ill-suited to working for others and skilled at managing people and projects."

let me stop u right there chief

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114526)



Reply Favorite

Date: June 14th, 2015 2:22 AM
Author: overrated translucent market french chef

This thread is a good example of the doors law school can open w focused efforts. I've noticed especially employers in the real estate space LOVE hiring fresh law school grads and new lawyers.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28114653)



Reply Favorite

Date: June 14th, 2015 7:08 AM
Author: overrated translucent market french chef



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115319)



Reply Favorite

Date: June 14th, 2015 7:15 AM
Author: stirring national

You should probably think about why this multimillion dolar opportunity was not offered to an experienced RE project manager and/or snapped up by said individual.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115322)



Reply Favorite

Date: June 14th, 2015 9:59 AM
Author: Dun medicated plaza jew



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115590)



Reply Favorite

Date: June 16th, 2015 12:04 AM
Author: titillating violent turdskin fat ankles

"There is an old story about a financial economist and passionate defender of the efficient markets hypothesis who was walking down the street with a friend.

The friend stops and says, "Look, there is a $20 bill on the ground!"

The economist turns and coolly replies, "Can't be. If there was a $20 bill on the ground, somebody would have already picked it up."

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129567)



Reply Favorite

Date: June 14th, 2015 9:59 AM
Author: Dun medicated plaza jew

what experience do you have managing people and projects?

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115594)



Reply Favorite

Date: June 14th, 2015 10:31 AM
Author: Lilac cuckoldry lodge

TBF not sure what kind of advice you even hope to get here. You seem to understand the criteria well enough, less certain higher reward with more stable but lower returns.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115704)



Reply Favorite

Date: June 14th, 2015 11:42 AM
Author: stimulating lime public bath

Op - listen to Colt

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28115907)



Reply Favorite

Date: June 14th, 2015 12:25 PM
Author: Tripping 180 stage

Flame. What the fuck kind of CRE project pays out that much in equity to the project manager? And are you saying you only get equity at the end?

This sounds like a retail construction project (anchored strip center in the burbs), but still probably flame.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116119)



Reply Favorite

Date: June 14th, 2015 12:26 PM
Author: boyish dilemma partner

It sounds like he is talking about a back-in after payout, which wouldn't be uncommon

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116126)



Reply Favorite

Date: June 14th, 2015 12:32 PM
Author: cerise institution messiness

his prediction is also probably wildly optimistic, but that's not really the point. the point is that even if he makes far, far less than he expects on that back end, even nothing, it's a better route to go down than biglaw.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116154)



Reply Favorite

Date: June 15th, 2015 11:59 PM
Author: titillating violent turdskin fat ankles

this is correct

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129520)



Reply Favorite

Date: June 14th, 2015 12:29 PM
Author: charismatic maize crotch hell

So you have no experience managing commercial development...

but someone is willing to pay you 30% equity to act as a project manager without any skin in the game yourself...



(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116139)



Reply Favorite

Date: June 14th, 2015 12:31 PM
Author: Sadistic purple shrine

Cr OP has some further explaining to do before I can make the flame/not flame determination

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116145)



Reply Favorite

Date: June 14th, 2015 12:32 PM
Author: cerise institution messiness

what difference does it make? it'll get him good experience in a much better career path than biglaw.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116157)



Reply Favorite

Date: June 14th, 2015 12:35 PM
Author: charismatic maize crotch hell

the difference is, if he is lying about one thing, he may be lying about a lot of things and it may not actually be a better career path.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116163)



Reply Favorite

Date: June 14th, 2015 12:46 PM
Author: boyish dilemma partner

Not disagreeing but that line of discussion is not super helpful to him

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116212)



Reply Favorite

Date: June 14th, 2015 12:35 PM
Author: cheese-eating jet cruise ship

I'm guessing it is some hookup from his dad or uncle or someone in the family. Obviously no one gets 30% of the promote on a $20mm development deal with zero experience without a major hookup.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116167)



Reply Favorite

Date: June 14th, 2015 12:37 PM
Author: Black Chad

yep that's how u make it in amerika. these faggots then tell Russian girls they are self made men.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116179)



Reply Favorite

Date: June 14th, 2015 12:43 PM
Author: charismatic maize crotch hell

Even if it is a major hookup, no one/group with $20 million is going to give someone with no experience the type of responsibility that is reasonably compensated by a 25-30% promote.

Unless it is literally his dad's money, the dad is going to be doing the work, and there are no other financial partners.

Even non-capital partners have to have some skin in the game, or a tremendous amount of service potential.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116206)



Reply Favorite

Date: June 15th, 2015 11:44 PM
Author: titillating violent turdskin fat ankles

presumably you understand that a $20 million project does not require investors to put up $20 million in cash

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129350)



Reply Favorite

Date: June 15th, 2015 11:43 PM
Author: titillating violent turdskin fat ankles

there's a family connection to the prospective investors, yes. without giving too much detail, the project is one that i identified myself (though i obviously would have to learn an absolute fuckton). it's viable largely because of a combination of tax credits that are not commonly used or well understood in this market, but that i happened to study in great detail in LS. so i do add some value. i have pretty unimpeachable leadership/mgmt credentials from before LS – apologies but not going to give more detail.

30% was probably on the optimistic side, but i am going to try to pull it. i would probably be happy with 15-20% if that's all i can get.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129336)



Reply Favorite

Date: June 14th, 2015 12:38 PM
Author: Carmine Electric Furnace Boiling Water

it sounds almost as crazy as the idea that somebody with no prior experience as a corporate attorney might be offered a $160,000 starting salary and partner-track job at a large law firm

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116188)



Reply Favorite

Date: June 14th, 2015 12:44 PM
Author: cheese-eating jet cruise ship

Well, except that happens all the time. What the OP is describing almost literally has never happened....unless the OP is the son, nephew, brother or twink of whoever runs the development company.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116208)



Reply Favorite

Date: June 14th, 2015 12:45 PM
Author: charismatic maize crotch hell

$160,000 is compensation for potential which is signaled by a lot of years of going to good colleges and or law schools.

Most of these jobs are no partners track except in name.

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28116210)



Reply Favorite

Date: June 16th, 2015 12:09 AM
Author: Comical International Law Enforcement Agency

>>Most of these jobs are no partners track except in name.

Wait, WHAT?!

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#28129626)



Reply Favorite

Date: April 21st, 2017 3:26 PM
Author: overrated translucent market french chef

bros should I take 3.5mm/yr for a CRE project or work at DLA Piper???

(http://www.autoadmit.com/thread.php?thread_id=2907676&forum_id=2#33128613)