I just graduated from the MRED program at USC in Los Angeles. I had a fantastic experience and would be happy to answer any questions or provide guidance.
Age: 30
Program: 2013 USC MRED (graduate)
UGrad subject and GPA : UCLA Civil Engineering
Prior Work Experience: Civil Engineering/ Land Development (4 years); Construction Advisory (4 years)
Current Placement: Construction/Real Estate Consulting
Career Goals: Entrepreneur/ Small-scale Development/ Urban Infill
Crabbers:Originally posted by crabbers00
Thanks for jumping into the conversation. I am very interested in the program at USC and feel that it hasn't been discussed as often as the east coast programs.
I'd enjoy hearing about your favorite aspects of the program and what specific words you would use to describe the "focus" of the program. I think the core courses and electives look outstanding and the class member quality seems to be very high (but also very homogenous to some extent).
The MRED/MBA option is also enticing and I would appreciate your views into the dual-degree approach vs. solely pursuing the MRED.
Also, what do you plan to do now that you've graduated?
Ecoates:
Age: 29
Program: 2011 USC MRED (graduate)
UGrad subject and GPA: NYU Stern School of Business; Finance and Economics
Prior Work Experience: Retail Development & Private Equity; 2 years with JLL Corporate Solutions prior to MRED
Current Placement: Responsible for apartment development in SoCal for a well-capitalized multi-family developer
Career Goals: Residential development
I can offer the unique experience of being a native New Yorker and NYU undergraduate, who chose USC’s MRED program. I can honestly say it’s one of the best decisions I’ve made.
I think there is way too much emphasis on east coast programs. Prior to selecting a program, I did extensive research and USC’s MRED offered the strongest combination of skilled professors, technical skills, and alumni network. I came into the program believing that I knew a lot about real estate and development and was blown away by the amount I learned during the program. The program is very focused on helping students develop the skills that they will use in their future careers and I rely on those skills extensively at my current job as a multi-family developer. From our finance classes, where we learned how to structure complicated waterfalls, to the design classes that helped me become proficient in site planning so that I can communicate effectively with an architect, USC helped me become a better real estate professional. Many of the professors have extensive real world experience which helps brings a tangible aspect to classroom discussions and experience.
Beyond the classroom experience that I had at USC, I can’t emphasize enough the importance of the camaraderie among USC MREDs and the strength of the alumni base. You develop a very unique bond with your classmates during the program. While I’m sure this is true of any school, I don’t believe there is the level of cooperation and friendship post-graduation that you see at USC. Most of my close friends are from the program and I’ve seen this to be true for each subsequent class that graduates the MRED. This has proven very valuable in my professional life. For example, in the last month, I’ve looked at mixed-use sites (multi-family and SFR/office/retail) and have been able to call my friends who are developing these respective product types to get their honest take on value. In some of these situations, should we decide to move forward, we would potentially look to bring in their firm. These relationships have proven valuable in a very competitive industry.
Lastly, there is the strength of the USC alumni network. Alumni networks were a bit a foreign concept haven gone to NYU for undergrad. Outside of a few schools (Harvard), it’s hard to understand the strength of a strong alumni network not having attended one of these institutions. As a NYU Stern grad, if I were to cold call a NYU alumni, I would likely get a polite response but beneath the surface they would be thinking "why is this person calling me”. I think this is true of most institutions and that is where the USC alumni network differs. USC alumni bend over backwards to help one another. In the same situation, if I were to call a USC alumni, I would likely get a lunch to discuss referenced topic and a GENUINE effort on their part to help. That’s a small antidote but speak volumes to what you get out of the program.
I won’t bash any other schools but the fact that I chose USC over other NY schools speaks for itself. I personally decided to stay in SoCal after graduation (quality of life like no other), but I have classmates who've moved to NY and DC and are with very prestigious firms running development projects.
I’d encourage any prospective student to visit the USC program and meet with the facility.
Amazing overview Mlh272. I was already interested in the USC program based on everything I have seen on the Dollinger MRED website, but your personal testimony seems very genuine and really has me thinking about USC as a strong option. I am attracted to the program for the same reasons you list - lots of adjunct professors with strong development careers, core and elective classes that seem to really seek to educate students for a career in real-estate, and the high-caliber of the admitted students.
Can you give us some insight into the career services and recruiting process for MSRED grads? Does the Dollinger program have a full-time career services person and do many companies come to campus to interview future graduates. The alumni network and big RE career fair are undoubtedly huge events, but how much work does the program put into finding jobs that are good fits for their graduates? Also, what would you estimate was the starting salary of graduates in your class (base + bonus)? Did most of them go into development?
Thanks
I thought I would let everyone know that I emailed Columbia earlier this week and they responded that their open house will be on Monday, October 7th from 4:00-6:00 pm in 200 Fayerweather (building).
Columbia also mentioned that afterward, prospective students may sit in on an "Alternative and Distressed Investing Strategies" class or a panel lecture in their auditorium (or just head home).
Those that are interested can email the program directly to RSVP.
Age : 25
Program Applying to : USC, Columbia, NYU, Georgetown
UGrad subject and GPA : Business mangement and entrepreneurship; 2.3
GRE / GMAT score : 680
Prior Work Experience: Which Field / No. of Years: 4 Years Full Time, 1 Year Part Time
Expected Placements : Money / Organization: Development or larger acquisition fund - $100,000+
Place where you want to Work : West Coast, Chicago
I am looking for some straight talk here.
I am wanting to get into a Masters in Real Estate Development program, preferably USC.
I have a very low GPA of 2.3 from a University in the Top 50. The GPA came about from a mix of serious personal family problems at home the majority of my college years to not caring at the time.
I got a 680 on my GMAT.
I have 5 years work experience in real estate - Asset Management managing a large 2MM SF portfolio across the US, Commercial Credit Analysis underwriting loans, and Commercial Brokerage where I sourced a couple million in deals. I would be able to get a couple stellar recommendations and I am very active in ULI, BOMA, and IREM.
I truly believe I would be a great fit for their program, as I think I have a solid and well rounded background in multiple areas of real estate. My passion is in real estate. I am well aware I really screwed up back in college.
The question I have for you guys, do I have a chance in hell or will I just be wasting my time and money? Are there any other programs worth looking at for real estate that I could possibly get into?
Have you considered taking some additional real estate focused course work through groups like CCIM? I have taken a few of their basic courses and they assign numberical letter grades to exams, classes, etc. If you could put together an understandable story and kill it in post-college courses, your story might be strong. If you could re-take the GMAT and score above a 700, concerns about your mental aptitude would be greatly mitigated.
Also, I can't remember where I saw it, but USC's MRED program doesn't have astounding average GMAT numbers....I think it is like 630? Based on the accomplishments of some of their graduates, it is clear they place more emphasis on experience and career promise than raw stats.
I wish some of these MRED/MSRED programs would publish a class profile in the same way that MBA programs do.
Received an email earlier this week regarding Admissions Information Sessions for USC's Dollinger Masters of Real Estate Development Program.
Attending an Information Session is the next step. You will have the opportunity to hear a presentation on the program, ask questions, and speak wit Prof. Chris Redfearn, Director of the MRED program.
Dates and locations are:
Los Angeles, CA - Aug, 23rd, Sept. 20th, and Nov. 15th
San Francisco, CA - Oct. 24th
I couldn't have said it much better, but I'll try to add my own spin to Mlh272's great abstract of the USC Dollinger MRED.
The caliber of both the staff and students at USC is astounding. The full-time professors have tremendous reputations in the real estate industry and provide thought-provoking interactions with their students throughout the program. The adjunct professors are well-known and respected industry professionals that provide a real-world outlook in an academic environment on a real-time basis. And the students accepted into the program have such a diverse set of skills and experience that you learn from each other almost as much as you do from the professors.
Re: the camaraderie, I have definitely taken away more than an education in Real Estate Development. I have both great friends and potential future colleagues in my fellow classmates and recent alum.
And finally, as a UCLA Bruin undergrad, it pains me to admit that you won't find a network as strong as the USC alumni network, especially in California. Both my husband (a USC Gould Law School grad) and I have been overwhelmed by the alumni network and their willingness to help you succeed in your career. Whether you're looking for advice, a capital partner, an introduction, or a job, Trojans help Trojans without hesitation. Thanks to the USC alumni network, my husband landed at Kirkland & Ellis in San Francisco, and I have an immediate network of entrepreneurial real estate developers throughout the SF Bay Area.
ecoates: In terms of career services,the Dollinger MRED has a less structured, although more pragmatic approach than most business schools. Real Estate is a relationship-based business and your success can be made or broken based on relationships and reputation. From day one, the program provides you with endless opportunities to network with both alumni and industry professionals. It is up to you to start building your network; by the end of the program, most students have met with hundreds of alumni, developed a personal reputation, and created a diverse network of strong relationships and potential career opportunities. This approach to "career services" will serve you better in the long-run and last throughout your career (as opposed to a typical job-placement upon graduation approach, which only gets you your first job, not necessarily a career).
Thanks for the comment ecoates.
I have thought about taking the GMAT again, but I worry that I could go in there and bomb the test with a score in the 500s. I know some schools take only the highest scores, but other take averages or look at all of your scores.
Would you recommend that I take some classes at the local community college? Maybe retake stats or econ and show that I can score well in those classes? Or would CCIM be a better route? They are both expensive for me, so I would only be able to take 1 or 2 classes.
I do wish I could know how many, if any, USC MSRED students scored gpa wise below a 3.0. I dont want to spend a couple grand if my 2.3 GPA has already doomed me.
Last edited by TooLowGPA; 15 Aug 2013 at 9:38 AM.
Too Low,
I can't speak to the MRED programs specifically but I know more than a few people with low UGPAs that got into good (in some cases top) graduate programs in a few different fields. I can also tell you that none of these people bothered with CC classes. The key was putting together a strong application with good test scores, a solid personal statement, good recommendations, etc. Bottom line is that a lot of people goof off or have to deal with personal circumstances in UG that prevent them from doing as well as they could have. The fact that you are a few years removed from college should help a lot.
Apply to as many programs as you can and see what happens...you might be surprised at the results.
I would also recommend contacting USC directly and talking to their staff. When you do that, try to focus more on your success at work and other accomplishments.
Hello, I am a law student geared towards real estate and wanted to know if columbia's msred program provides any real estate PE foundation and opportunities? I am work experience in real estate investment/management on both operator and allocator levels, wondering if MSRED would just overlap most of the knowledge I already have, or expand upon it? I do not have any development experience, so in that sense I know it will.
Anyone attending Columbia's MSRED Open House tomorrow from 4-6 pm? I am planning to attend the open house as well as sit in on one of the program's classes afterwards.
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