Real estate law to open business doors

(On Campus Interviews, Summer Associate positions, Firm Reviews, Tips, ...)
Forum rules
Anonymous Posting

Anonymous posting is only appropriate when you are revealing sensitive employment related information about a firm, job, etc. You may anonymously respond on topic to these threads. Unacceptable uses include: harassing another user, joking around, testing the feature, or other things that are more appropriate in the lounge.

Failure to follow these rules will get you outed, warned, or banned.
Anonymous User
Posts: 324681
Joined: Tue Aug 11, 2009 9:32 am

Real estate law to open business doors

Postby Anonymous User » Thu Sep 15, 2016 2:55 am

This is a question for real estate lawyers. How does practicing transaction real estate law provide an attorney exposure to the local market, players and transactions? And how does this knowledge, network, and understanding of the 'real estate game' supporting breaking into the business of real estate after a few years of practice?

1styearlateral

Silver
Posts: 834
Joined: Wed Mar 30, 2016 3:55 pm

Re: Real estate law to open business doors

Postby 1styearlateral » Thu Sep 15, 2016 9:02 am

I'll take a bite since I work in RE.

It's pretty self-explanatory. If you're representing players in the real estate market, you're going to get to know them pretty well. There are a handful of huge players in NYC that regularly do deals that everyone knows. But there's also a lot of smaller players that still do millions in deals every year. The problem with RE (at least in NYC) is that it's a very tight-knit group. AFAIK, it's very hard to grab new clients because most are already spoken for.

As far as breaking out into the business side... I guess you could go in-house at a management or development co. But idk if practicing RE law makes one qualified to do the business side.

User avatar
viz-luv

Bronze
Posts: 134
Joined: Sat Feb 23, 2013 10:30 pm

Re: Real estate law to open business doors

Postby viz-luv » Thu Sep 15, 2016 10:45 am

Yeah this ^.
You get to know people in it so that would help with learning about future opportunities.

But are you talking about making your own deals? The real thing you need is having the financials, not real estate experience. If I were to invest right now I wouldn't need a few years of practice, but I'll know more people who may be willing to work with me then as we've developed a relationship (in theory anyway, ymmv). Our clients are always running new deals so it wouldn't be hard to ask if you could get in on one as long as all ethical requirements are met. I suppose you could also become more familiar with what a "good" deal is with more time if you are saying you have no real experience currently.

User avatar
kellyfrost

Platinum
Posts: 6361
Joined: Mon Nov 09, 2015 3:58 pm

Re: Real estate law to open business doors

Postby kellyfrost » Thu Sep 15, 2016 10:50 am

I recently learned that real estate lawyers are referred to and refer to themselves as "Dirt Lawyers." I kind of like it and it makes sense.

http://www.scbar.org/cvwebr/cgi-bin/msa ... ductcd=722
Last edited by kellyfrost on Sat Jan 27, 2018 3:37 pm, edited 1 time in total.

gfd973

New
Posts: 56
Joined: Sat Dec 08, 2012 7:36 pm

Re: Real estate law to open business doors

Postby gfd973 » Thu Sep 15, 2016 11:24 am

viz-luv wrote:Yeah this ^.
You get to know people in it so that would help with learning about future opportunities.

But are you talking about making your own deals? The real thing you need is having the financials, not real estate experience. If I were to invest right now I wouldn't need a few years of practice, but I'll know more people who may be willing to work with me then as we've developed a relationship (in theory anyway, ymmv). Our clients are always running new deals so it wouldn't be hard to ask if you could get in on one as long as all ethical requirements are met. I suppose you could also become more familiar with what a "good" deal is with more time if you are saying you have no real experience currently.


TCR

First of all you need to understand something about investing. You might have a leg up in terms of advising REITs or similar investing vehicles on their own operations w/r/t regulatory requirements and the like but that's about all you really bring to the table as an RE lawyer. If you don't have an accounting/finance background you're useless.

Second of all you need to understand something about investing in RE specifically, because it is a specialized asset class within the alt investments space.

Third of all you need to be able to distinguish yourself from the other lawyers out there in literally every other transactional practice group who are trying to move to some business type role. Your having worked with RE clients helps, but you're still just as dumb on every other axis.

In short, if you want to go into the business side, go to business school. If you want to be a lawyer, go to law school. It's pretty simple.

1styearlateral

Silver
Posts: 834
Joined: Wed Mar 30, 2016 3:55 pm

Re: Real estate law to open business doors

Postby 1styearlateral » Thu Sep 15, 2016 11:52 am

viz-luv wrote:But are you talking about making your own deals? The real thing you need is having the financials, not real estate experience. If I were to invest right now I wouldn't need a few years of practice, but I'll know more people who may be willing to work with me then as we've developed a relationship (in theory anyway, ymmv). Our clients are always running new deals so it wouldn't be hard to ask if you could get in on one as long as all ethical requirements are met. I suppose you could also become more familiar with what a "good" deal is with more time if you are saying you have no real experience currently.

Short answer: Have millions of dollars lying around.

User avatar
viz-luv

Bronze
Posts: 134
Joined: Sat Feb 23, 2013 10:30 pm

Re: Real estate law to open business doors

Postby viz-luv » Thu Sep 15, 2016 1:12 pm

1styearlateral wrote:Short answer: Have millions of dollars lying around.


Yeah, but I was trying to give him/her hope :D

1styearlateral

Silver
Posts: 834
Joined: Wed Mar 30, 2016 3:55 pm

Re: Real estate law to open business doors

Postby 1styearlateral » Thu Sep 15, 2016 1:28 pm

viz-luv wrote:
1styearlateral wrote:Short answer: Have millions of dollars lying around.


Yeah, but I was trying to give him/her hope :D

Ha. Real estate investment is really reserved for the mega wealthy.

BernieTrump

Bronze
Posts: 126
Joined: Sun Mar 13, 2016 5:54 pm

Re: Real estate law to open business doors

Postby BernieTrump » Sat Sep 17, 2016 1:16 am

.



Return to “Legal Employment�

Who is online

The online users are hidden on this forum.