abandon biglaw offer to pursue commercial real estate dev?
| henna spot patrolman | 06/13/15 | | Talented useless area | 06/16/15 | | slap-happy meetinghouse | 06/13/15 | | Shaky ivory roast beef | 06/13/15 | | henna spot patrolman | 06/13/15 | | Electric university milk | 06/13/15 | | henna spot patrolman | 06/13/15 | | Out-of-control trump supporter | 06/13/15 | | Titillating pearly piazza | 06/14/15 | | Odious jet-lagged market | 06/14/15 | | Clear Appetizing Juggernaut Windowlicker | 06/14/15 | | up-to-no-good tank | 06/13/15 | | henna spot patrolman | 06/13/15 | | up-to-no-good tank | 06/13/15 | | henna spot patrolman | 06/13/15 | | primrose beady-eyed church candlestick maker | 06/14/15 | | hyperventilating azn gaming laptop | 06/13/15 | | henna spot patrolman | 06/13/15 | | azure infuriating brethren crackhouse | 06/13/15 | | Odious jet-lagged market | 06/14/15 | | azure infuriating brethren crackhouse | 06/13/15 | | slap-happy meetinghouse | 06/13/15 | | Out-of-control trump supporter | 06/13/15 | | Massive temple fat ankles | 06/13/15 | | Massive temple fat ankles | 06/14/15 | | Titillating pearly piazza | 06/14/15 | | Massive temple fat ankles | 06/14/15 | | Amber Nibblets Background Story | 06/13/15 | | narrow-minded wonderful stage cumskin | 06/14/15 | | Massive temple fat ankles | 06/14/15 | | Massive temple fat ankles | 06/14/15 | | arrogant sienna preventive strike | 06/14/15 | | Chartreuse Abode Pozpig | 06/14/15 | | henna spot patrolman | 06/16/15 | | Chartreuse Abode Pozpig | 06/14/15 | | heady school cafeteria | 06/14/15 | | Outnumbered center giraffe | 06/14/15 | | ultramarine bawdyhouse party of the first part | 06/14/15 | | azure infuriating brethren crackhouse | 06/14/15 | | Odious jet-lagged market | 06/14/15 | | henna spot patrolman | 06/15/15 | | Big-titted duck-like elastic band | 06/14/15 | | Judgmental Pungent Foreskin Regret | 06/14/15 | | Odious jet-lagged market | 06/14/15 | | Big-titted duck-like elastic band | 06/14/15 | | azure infuriating brethren crackhouse | 06/14/15 | | Vermilion galvanic mother fortuitous meteor | 06/14/15 | | Supple Stag Film | 06/14/15 | | Big-titted duck-like elastic band | 06/14/15 | | henna spot patrolman | 06/15/15 | | henna spot patrolman | 06/15/15 | | Out-of-control trump supporter | 06/14/15 | | Vermilion galvanic mother fortuitous meteor | 06/14/15 | | Big-titted duck-like elastic band | 06/14/15 | | Red alcoholic public bath internal respiration | 06/16/15 | | Massive temple fat ankles | 04/21/17 |
Poast new message in this thread
Date: June 13th, 2015 7:48 PM Author: henna spot patrolman
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) |
Date: June 13th, 2015 8:15 PM Author: up-to-no-good tank
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) |
Date: June 14th, 2015 2:00 AM Author: narrow-minded wonderful stage cumskin
"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) |
|
Date: June 16th, 2015 12:04 AM Author: henna spot patrolman
"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) |
Date: June 14th, 2015 12:25 PM Author: ultramarine bawdyhouse party of the first part
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) |
Date: June 14th, 2015 12:29 PM Author: Big-titted duck-like elastic band
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)
|
|
Date: June 14th, 2015 12:43 PM Author: Big-titted duck-like elastic band
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) |
|
|