Wanting to get a feel from the community here. I have just been offered a position at a newish multi-acquisitions shop that has a strong founding partner with an institutional background. They already have one portfolio transaction under their belt and appear to have the capital relationship to execute on 3-4 a year. The position would be their first hire and would be cradle-to-grave with an opportunity to start from the ground floor.
I have been in my current role with a regional developer for almost six years. I have grown with them from 5 guys to twenty and was one of the first hires outside of the partners. They pay me a strong and probably above-market salary, but the realistic path towards being a partner or getting carry is pretty cloudy with the current multi-development market and the status of our current projects/pipeline.
The new opportunity is a large cut in base, but has a strong fee/promote upside. In addition, I feel that it would be a switch to a much more active and opportunity-ripe side of real estate in today's market. Any thoughts/comments from the community would be great.
Long term, do you want to be a developer or do you want to acquire properties?
Porque no los dos?
Most people aren’t. Doesn’t mean you can’t be, but they are different paths and different skill sets.
I am more finance-driven and enjoy fast-paced deal flow so I think long term I lean toward acquisitions.
Curious what you decide, seems high risk high reward so maybe just a very personal decision
Ended up going with the acquisitions role. A lot of it has to do with personally where I am at age wise and current market dynamics. Seems like the right time to make a jump.
Congrats, you said relatively low base, what's the total comp/carry structure for this type of role?
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