Career Advice For My Daughter Please

Real Estate Development Blog

Dear Colm,

I need your suggestions on what my daughter should major in (i.e. business administration, marketing, real estate broker, appraiser,etc.?)

I would greatly appreciate any advice you'd have to give.

Kindest regards,

Rebecca,

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From the desk of Colm Dillon ...

Author of "Residential Development Made Easy"

The direction Marney should take will depend very much on her natural talents and personality.

I have had several careers in my life, but the one I settled on was the one that used my natural talents and gave me substantial rewards.

I am an outgoing personality and find that I can influence people to do what I want them to do – this is very helpful when you want to get people to do what you want them to do 'on time and on cost.'

People in development or real estate (the best ones) are essentially independent individuals who stand aside from the ‘rest of the pack’ – I don’t mean we don’t mix with people, it’s is just that we tend to take our own path in life.

I t also does not mean that we start with a lot of money ... I'm talking about independence of mind.

For myself, I have a disciplined mind – so if I take on a task, it is always completed.

I also like numbers – it’s a natural bent and I have always been good at mathematics. This is very useful in development.

For some reason I find reading legal documents easy and can cut through all the legalese, which tends to confuse most people. Have you heard of the saying, "the devil is in the detail?"

We all have an 'ego' - it is the 'control' of this beast that is the signature of a mature person.

I have a son who is successful in real estate; another in IT and a 22 year old daughter in ballet and contemporary dance.

My daughter has several of the qualities I mentioned above and we have discussed real estate for her later in life (after dancing).

With the advantages I can pass on to her, this is a natural and pleasing option for me and I believe, for her also.

As a father, I am naturally concerned at the way marriages break down these days. So I want to teach her to learn How to Fish every day for her lifestyle, because someone may be able to swindle her out of the Big Fish she inherits.

If you are good at real estate, of independent mind and can maintain a good level of energy, then real estate can give you a very good income, wealth growth and lifestyle.

Being an appraiser, in Australia we call them Real Estate Valuers, is very good training, because everything she learns as an appraiser, she can use in her future real estate life.

To me it is not a good 'career choice' – in my country it’s poorly paid – in the USA it may be different - check this out.

So the knowledge gained as a trained Appraiser is good. Then a move into real estate brokerage would be natural for someone moving towards being a developer.

If you take on Brokerage with a mind that 'learns' you will get very valuable lessons on the consumers mind, as well as the obvious skills of selling, marketing, contract law and its execution.

Don't join Brokerage so that your boss can use the Appraiser’s Qualification she gained, but to be trained as a broker.

As an alternative to Real Estate Brokerage, I would also consider, a qualification and experience in the finance industry, specializing in development funding.

Then it is logical to move into Development as she feels she has reached the right stage of her career - say at age 30 +.

Hope these comments help you.

Colm

Residential Development Made Easy