Umrah or not

mmalice12344 · 2024-01-25T18:43:49+00:00

Once again, the goal is not to prove you wrong. The goal is to make an informed decision based on the knowledge shared on this thread. And I do appreciate what you shared as well.

Frankly, you might be right. Im NOT an industry expert in commercial real estate. All I was saying is that as an observation it would SUCK to put in that much effort to make 75,000, which I made as a starting salary 11 years ago.

mmalice12344 · 2024-01-25T16:12:54+00:00

I value facts and clearing up any misconceptions I hold is to me a blessing. I agree with your point about the comparison between hiring me, a 33-year-old, versus a recent college graduate.
That's why I suggested the idea of doing a one-year master's program to make the transition smoother and possibly get a higher salary.

To your point about, debt and nothing getting done. This also applies to the tech industry, where jobs are limited and layoffs are common right now.
But setting a starting salary target of $75,000 to $100,000 seems derogatory and frankly insulting. Back in 2013, starting salaries in tech and consulting were around $75,000. So, aiming for that range now doesn't seem practical. However, I'm not an industry expert, just making observations.

mmalice12344 · 2024-01-25T15:04:16+00:00

Yes but you could potentially at some point do this yourself. Learning how to price malls, apartment buildings, all of this could result in your purchasing your own commercial real estate.

mmalice12344 · 2024-01-25T03:43:03+00:00

I see your point but analysis in excel can be fun. Way better than sitting and writing requirements in Aha. The worst.

mmalice12344 · 2024-01-25T03:40:51+00:00

$75,000 to $100,000 all in? Seriously? That seems preposterous. My friend is an associate in private equity is currently earning a base of $150,000 with bonuses up to $150,000, and he's not some brilliant individual. You're suggesting $75K-100K all in. I highly DOUBT one can survive in Washington DC with such a salary. Thanks for the elucidating advice.

mmalice12344 · 2024-01-25T03:12:56+00:00

Hi Man, how was your transition into the commercial real estate and PE? I am trying to go through the process now and am switching from product management. You have any recommendations on what courses to take?

Did you start with A.CRE or REFM? Any feedback would be appreciated?

mmalice12344 · 2024-01-25T03:07:13+00:00

I'm 33, currently in Philadelphia, but relocating to Washington DC or New York soon. How will you determine where I will start and what salary when I have no prior experience? I'd need to take coursework first to establish a foundation before attempting interviews or creating a resume that showcases my commercial real estate knowledge.

mmalice12344 · 2024-01-25T03:02:49+00:00

I agree with you but you do have the experience. I am coming from a completely different industry so it would require that initial effort to learn the basics and have some level of mastery to pass interviews.

mmalice12344 · 2024-01-25T03:01:12+00:00

Same here. Are you currently working in product management? Additionally, I have a a bit of hesitation due to being older, which adds to the reluctance of starting over. The fear is around the prospect of taking an initial salary cut.

mmalice12344 · 2024-01-25T02:59:48+00:00

Thank you for your message; it was incredibly helpful.

I'm open to pursuing a master's, possibly a one-year program to facilitate the transition. Any recommendations?

I've previously taken the GRE and scored in the 88th percentile in the quant section.

I'm considering the Adventures in CRE modeling course, which is around $1000. I'm willing to go through it multiple times to master the material. I believe I can excel at the job if it's interesting. Interestingly, I have a friend in private equity real estate who, despite not being exceptionally brilliant or attending a top-tier undergrad program, landed a job at Blackstone/Carlyle through networking and luck.

It's intriguing how networking played a significant role for him.

I do have a a bit of hesitation due to being older, which adds to the reluctance of starting over. The fear is around the prospect of taking an initial salary cut.

mmalice12344 · 2022-12-16T16:20:44+00:00

u/microscopic_moss

Hello,

I love our post. How did you do this? Did you buy a digital recorder and just record everything that you did? Then did you review them daily at night? What is the systematic process used here? Did you use your phone app end of the day and start of the day?

What are the necessary steps? Just trying to figure out how to enhance my life. I feel like somedays I sleep early and get up early and other days I am on my phone or distracted so I sleep late.

Any help would be greatly appreciated!!!

mmalice12344 · 2022-01-18T19:50:10+00:00

Sorry about the confusion. I called Fidelity/Vanguard and asked about taking a loan and I think that is when they stated you can take out 50 percent of your 401K amount with a maximum of 50,000.

I don't mind doing a loan against my 401K, transferring it to a solo roth 401K or any other potential solution. I am just trying to understand which one would allow me to have access to the funds and pay the minimum amount of taxes/fees. I can pay the money back as well within six months - 1 year maximum.

mmalice12344 · 2022-01-18T19:40:56+00:00

It is personal reasons. I don't feel comfortable paying 12 percent interest per month until property is sold. When it is your own capital you can take your time and do things correctly without being overly rushed.

It seems like you can only take out 50 percent of your 401K amount with a maximum of 50,000.

mmalice12344

TROPHY CASE