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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...
Razzle-dazzle garrison idea he suggested
  06/13/15
Bullshit.
olive therapy generalized bond
  06/16/15
do not look back
anal sex offender
  06/13/15
Guess I can stop checking my email to see if Johnsmeyer has ...
sapphire useless brakes
  06/13/15
sadly this is urban CRE and i won't know the joys and intric...
Razzle-dazzle garrison idea he suggested
  06/13/15
CRE will always be there if you want it. BigLawl will not.
Aphrodisiac office
  06/13/15
do you think this is true re: CRE? bearing in mind that this...
Razzle-dazzle garrison idea he suggested
  06/13/15
(literally the worst advice ever poasted)
Flushed Know-it-all Background Story
  06/13/15
...
Sable harsh shitlib
  06/14/15
...
titillating dysfunction
  06/14/15
...
comical red heaven blood rage
  06/14/15
go do CRE you idiot. you know that you are better suited fo...
Insanely creepy navy church building double fault
  06/13/15
thank you. i think you're right.
Razzle-dazzle garrison idea he suggested
  06/13/15
btw, you will also probably suck at biglaw so I wouldn't fac...
Insanely creepy navy church building double fault
  06/13/15
no, agreed that i will definitely suck. the choice is basica...
Razzle-dazzle garrison idea he suggested
  06/13/15
...
Tan talking associate international law enforcement agency
  06/14/15
flame. but why the fuck would you even ask this question?
yapping site
  06/13/15
like every idiot who attended LS, i am somewhat risk averse....
Razzle-dazzle garrison idea he suggested
  06/13/15
THIS IS YOUR FUCKING BEST CHANCE IN LIFE YOU IDIOT. DO NOT P...
Vigorous menage tattoo
  06/13/15
cr
titillating dysfunction
  06/14/15
Take the CRE opportunity, aggressively refi your loans down ...
Vigorous menage tattoo
  06/13/15
...
anal sex offender
  06/13/15
A lot more shit on your college and law school campuses were...
Flushed Know-it-all Background Story
  06/13/15
Let's switch up the facts w a little hypo. What if the guy h...
exhilarant house-broken university cumskin
  06/13/15
...
exhilarant house-broken university cumskin
  06/14/15
Depends, how FRATTY is the team he's joining
Sable harsh shitlib
  06/14/15
BAIN Dallas
exhilarant house-broken university cumskin
  06/14/15
Didn't read OP but yes of course
Razzmatazz crimson codepig laser beams
  06/13/15
"i am generally ill-suited to working for others and sk...
Startled Center
  06/14/15
This thread is a good example of the doors law school can op...
exhilarant house-broken university cumskin
  06/14/15
...
exhilarant house-broken university cumskin
  06/14/15
You should probably think about why this multimillion dolar ...
Tripping crackhouse windowlicker
  06/14/15
...
stirring legend field
  06/14/15
"There is an old story about a financial economist and ...
Razzle-dazzle garrison idea he suggested
  06/16/15
what experience do you have managing people and projects?
stirring legend field
  06/14/15
TBF not sure what kind of advice you even hope to get here. ...
multi-colored depressive piazza
  06/14/15
Op - listen to Colt
Disrespectful Address
  06/14/15
Flame. What the fuck kind of CRE project pays out that much ...
appetizing public bath nowag
  06/14/15
It sounds like he is talking about a back-in after payout, w...
Vigorous menage tattoo
  06/14/15
his prediction is also probably wildly optimistic, but that'...
titillating dysfunction
  06/14/15
this is correct
Razzle-dazzle garrison idea he suggested
  06/15/15
So you have no experience managing commercial development......
heady glassy native partner
  06/14/15
Cr OP has some further explaining to do before I can make th...
puce federal corner death wish
  06/14/15
what difference does it make? it'll get him good experience...
titillating dysfunction
  06/14/15
the difference is, if he is lying about one thing, he may be...
heady glassy native partner
  06/14/15
Not disagreeing but that line of discussion is not super hel...
Vigorous menage tattoo
  06/14/15
I'm guessing it is some hookup from his dad or uncle or some...
big flirting juggernaut rehab
  06/14/15
yep that's how u make it in amerika. these faggots then tell...
milky histrionic liquid oxygen
  06/14/15
Even if it is a major hookup, no one/group with $20 million ...
heady glassy native partner
  06/14/15
presumably you understand that a $20 million project does no...
Razzle-dazzle garrison idea he suggested
  06/15/15
there's a family connection to the prospective investors, ye...
Razzle-dazzle garrison idea he suggested
  06/15/15
it sounds almost as crazy as the idea that somebody with no ...
Flushed Know-it-all Background Story
  06/14/15
Well, except that happens all the time. What the OP is desc...
big flirting juggernaut rehab
  06/14/15
$160,000 is compensation for potential which is signaled by ...
heady glassy native partner
  06/14/15
>>Most of these jobs are no partners track except in n...
hairless shimmering weed whacker school
  06/16/15
bros should I take 3.5mm/yr for a CRE project or work at DLA...
exhilarant house-broken university cumskin
  04/21/17


Poast new message in this thread



Reply Favorite

Date: June 13th, 2015 7:48 PM
Author: Razzle-dazzle garrison idea he suggested

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: olive therapy generalized bond

Bullshit.

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



Reply Favorite

Date: June 13th, 2015 7:49 PM
Author: anal sex offender

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: sapphire useless brakes

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: Razzle-dazzle garrison idea he suggested

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: Aphrodisiac office

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: Razzle-dazzle garrison idea he suggested

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: Flushed Know-it-all Background Story

(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: Sable harsh shitlib



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



Reply Favorite

Date: June 14th, 2015 10:21 AM
Author: titillating dysfunction



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



Reply Favorite

Date: June 14th, 2015 1:52 AM
Author: comical red heaven blood rage



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



Reply Favorite

Date: June 13th, 2015 8:15 PM
Author: Insanely creepy navy church building double fault

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: Razzle-dazzle garrison idea he suggested

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: Insanely creepy navy church building double fault

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: Razzle-dazzle garrison idea he suggested

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: Tan talking associate international law enforcement agency



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



Reply Favorite

Date: June 13th, 2015 8:17 PM
Author: yapping site

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: Razzle-dazzle garrison idea he suggested

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: Vigorous menage tattoo

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: titillating dysfunction

cr

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



Reply Favorite

Date: June 13th, 2015 8:19 PM
Author: Vigorous menage tattoo

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: anal sex offender



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



Reply Favorite

Date: June 13th, 2015 8:29 PM
Author: Flushed Know-it-all Background Story

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: exhilarant house-broken university cumskin

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: exhilarant house-broken university cumskin



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



Reply Favorite

Date: June 14th, 2015 1:58 AM
Author: Sable harsh shitlib

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: exhilarant house-broken university cumskin

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: Razzmatazz crimson codepig laser beams

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: Startled Center

"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: exhilarant house-broken university cumskin

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: exhilarant house-broken university cumskin



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



Reply Favorite

Date: June 14th, 2015 7:15 AM
Author: Tripping crackhouse windowlicker

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: stirring legend field



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



Reply Favorite

Date: June 16th, 2015 12:04 AM
Author: Razzle-dazzle garrison idea he suggested

"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: stirring legend field

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: multi-colored depressive piazza

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: Disrespectful Address

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: appetizing public bath nowag

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: Vigorous menage tattoo

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: titillating dysfunction

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: Razzle-dazzle garrison idea he suggested

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: heady glassy native partner

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: puce federal corner death wish

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: titillating dysfunction

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: heady glassy native partner

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: Vigorous menage tattoo

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: big flirting juggernaut rehab

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: milky histrionic liquid oxygen

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: heady glassy native partner

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: Razzle-dazzle garrison idea he suggested

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: Razzle-dazzle garrison idea he suggested

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: Flushed Know-it-all Background Story

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: big flirting juggernaut rehab

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: heady glassy native partner

$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: hairless shimmering weed whacker school

>>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: exhilarant house-broken university cumskin

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)