How can I go from Engineer to Developer? 3

[simonrr]

Hi all.

I got my bachelor's in Civil Engineering and now have nearly 3 years of work experience as a Civil Engineer. I have my E-I-T license and I am focused on getting my PE license. After achieving that goal, my inner conscience says I should take my ambitious attitude and move into the building/developing field. I am fascinated how the construction industry works and I await the opportunity of being a part of it. Some questions I need answers for are the following:

1. What kind of company should I look to join, after getting my PE, if I would like to be a residential developer in the future??
2. Can I start doing anything now to prepare for what I would like to do after attaining my PE?
3. Is there anything I can read/study to familiarize myself more with the development/construction/real estate world?

I have a lot more questions, but this is a good start.

Thanks

 

[jimbo]

Better accumulate a lot of money, or wealthy investors who trust your abilities.

 

[simonrr]

I haven't heard back from anybody in awhile and am looking for some new feedback. I don't know if engineering is truely for me b/c of being inside and designing all day. I am multi-faceted and am considering a career in development. I am wondering if I should start out by building a few homes by myself first. Has anyone encountered a situation similar to mine and be willing to share some ideas? Thanks.

 

[RDK]

Development requires deep pockets. If you have the funds or access to them then go ahead. Even to build a couple of houses as a start you will need considerable equity. Your banker can fill you in better on the actual funding and equity requirements but think in the 50,000 and up to start on one basic house. Most bankers here will not lend money for speculative construction.

Also to be a developer you need a LOT of self-confidence. (Think Donald Trump.) Since you are asking here how to get started, I would assume that you lack the necessary self-confidence to bet everything you own on a repeated basis. I know several developers and contractors who have gone bankrupt more than once. Lost their house, cars, savings and basically walked away with only their clothes. Can you take that risk and still sleep at night?

To start building you will need a lot of knowledge about construction details not what is on the drawings but codes and actual practices. (You need to not only know structural but mechanical and electrical as well and know this at the nuts and bolts level.) You will also need considerable people management skills. (And a really good BS detector.)

If all you want is to get out of the office then the field of civil engineering is broad enough that you have plenty of opportunities to get outside. Look for positions in project management and construction management. You will most likely start off as an inspector but that’s where you want to be anyway.

Even if you end up as a developer then a stint as an inspector and construction type will do you in good stead.

Good luck





Rick Kitson MBA P.Eng

Construction Project Management
From conception to completion

http://www.kitsonengineering.com

 

[Lorentz]

For a fascinating and brutally honest perspective on the world of developers, read Robert J. Ringer's "To be or not to be intimidated?" or his earlier version "Winning Through Intimidation."

Robert J. Ringer was a real estate broker who made his fortune by finding developers who desparately need to sell their properties. He refers to them as "pathological builders."

 

[PSE]

After you get you PE, you might want to get the general contractors license and maybe a real estate one as well. After that, like RDK indicated, really deep pockets (either yours or someone elses) will be needed.

Regards,

 

[TravisMack]

Get your PE and go to work for a contracting firm for a couple of years. That way, you will get a valuable education on the "nuts and bolts" of being a contractor. Then, you can determine if it is really what you want.

 

[simonrr]

I started a new job with a different firm and have been buried in work. I have not been back to this forum in awhile, but my goals of becoming a land developer have not changed. Since I am getting closer to taking my PE exam, which is in October, I would like to get a job as a construction manager for a residential builder upon attainment of my license. I have heard the it is HIGHLY beneficial to have your PE license while working as a construction manager. Is this true? Also, would not being as experienced in residential construction management hurt me during salary negotiations even though I am a Land Development Engineer/Project Manager with a PE License?

Thanks!

 

[headintheclouds]

Here's an idea that could kill two birds with one stone - build yourself a new home. You can get a taste of homebuilding at the lowest level by general contracting your own home. You can finance this easier. I have read that general contracting your own home can save you 10 to 30% off the going turn-key construction cost. I can attest to this in my own experience. After you build a couple homes for yourself you will build up your equity and your banker will have a much greater ability to help you if you have built a couple homes on time and on budget. Then take it from there. There are also other ways to reduce your building costs - by doing certain work in-house. A half decent engineer should have the management skills to manage home construction. Now this is not a very "engineering" discussion, so I will leave it at that.

 

[DRC1]

I don't think having your PE is ever bad, but for residentail development as a construction manager, I don't think it will give you any particular advantage. When I got out of school, I worked for a civil and survey firm that worked with a lot of developers. This is where your PE is necessary.By working with such a firm, you will do preliminary survey, site development plans, construction stake out, more construction stake out (gee, I almost got back to the office before the dozer took out that line of stakes I just set out) and property suveys for individual deeds. You will see the whole process and observe many different devlopers. There are good developers and bad ones. This way you can sort out who iwho at an arms length.The principals, because they were involved in the initial survey would often get the first wind of when property was comming on the market, and were able to make a few good deals on some property.

Good Luck

 

[simonrr]

I don't think having the PE is bad either! I just found out I will be taking my PE exam next Spring. With that being said, I am already looking to attain my general contractor's license. So, I will have taken and passed the PE exam and GC Exam within the next year. That should put me on the road to development! Is there anything else anyone can think of or maybe another license I should get. I already work as a part time mortgage broker so I understand the financing side of things and and have lined up one of my friends with "deep pockets" to be my partner. All advice and feedback is always appreciated!!!

 

[amorrison]

http://www.amazon.com/exec/obidos/s...e=books/ref=xs_ap_l_xgl14/102-6861913-1692945

 

[SomptingGuy]

Going "from Engineer to Developer" is exactly what I did 10 years ago. Mind you I develop engineering software - probably not the same thing.

 

[RCEJD]

It would seem to me that you would want to work for a merchant-builder/developer who is buying raw land and taking it thru entitlements and then to building homes etc. This would encompass everything from land purchase/forward planning, entitlements, design, and construction, financing, project management, etc.

Alternatively, there are numerous design-build firms that are perfect for your combination.

Good luck.