Location Ventures CEO Rishi Kapoor was recently featured in Daily Business Review article titled “How to Make the Switch From Law to Real Estate”.
From the article:
“From a soft skills standpoint, one of the best takeaways is risk identification and mitigation. At the end of the day as an attorney, you’ve always got your worst-case hat on,” said Rishi Kapoor, CEO of Location Ventures in Coral Gables.
The number of lawyers making the switch to real estate in South Florida is on the rise, as many are exploring their career options in a hot real estate market.
Rishi Kapoor, CEO of Coral Gables real estate and investment company Location Ventures, did just that after realizing in law school that he “had this urge to be able to create something and realized that real estate was the something.”
It’s a change in direction that Kapoor said he’s seeing many attorneys take. “There’s a lot of attorneys I’ve met that, at some point, have transitioned to the real estate business. I think they get a good understanding of what development is and maybe it’s through working with other clients or maybe they start to dabble with their own collection of hobby projects,” said Kapoor. “Ultimately, I have seen a number of people make that change. I’ve seen quite a few people either transition in full or partially transition to real estate development as part of their career.
For those hoping to do the same, here’s a rundown of the key skills to hone.
Keep Your ‘Worst-Case’ Hat on
Understanding how to read a contract and negotiate is crucial. “From a soft skills standpoint, one of the best takeaways is risk identification and mitigation,” Kapoor said. “At the end of the day, as an attorney, you’ve always got your worst-case hat on. I think that’s a great skill that translates once you’re over on
the private business side.”
Don’t Try to Go It Alone
It’s also important to get hands-on real estate development experience, whether considering specializing in real estate law or jumping into the development industry.
“You’ve got a great starting base, which is the education: how to negotiate contracts; how to speak the language; understanding the law, whether it’s zoning, transaction law. The most important thing for me is that if they go out on their own, they’re hiring the best people to surround themselves with,” said Kapoor. “One of the beauties of real estate is there’s nearly a consultant for everything that you can hire as a third-party … to work with you.
Read more from the Daily Business Review article HERE