Many see gold in SW Florida real estate
These days it seems like almost everyone in SW Florida is a Realtor, married to a Realtor, has a sister who is a Realtor or is studying to become a Realtor. The amount of wealth being created through real estate transactions in our region is almost staggering. Drive by any local real estate office and check out the parking lot, bling bling rides are lined up from one end of the parking lot to the other.
Florida real estate schools are bursting at the seams with new students looking to join the party. Enrollment at the Ed Klopfer Schools of Real Estate has grown from from 120,000 students in 2003 to 145,000 in 2004.
One of the major turning points in the dotcom boom was the mass migration of MBA students into the space. Companies with virtually no revenue were falling over themselves to hire the best and brightest from Stamford, Harvard and Yale. The same phenomena is happening today in the commercial real estate sector. Especially attractive are jobs in the private equity firms that invest in business parks, condominium complexes, and multiuse developments around the world. Also in demand are the financial firms where such properties are parceled into financial instruments — such as mortgage-backed securities and real estate investment trusts.
So far I have not met many MBA types in the residential sector here in SW Florida. Probably won’t see too many of these types at least until Starbucks finishes their invasion of the region.
Head of the class [Naples Daily News]
Business students flock to real estate [Boston Globe]
If you enjoyed this article, please consider sharing it!
recent comments