Capital Markets to MF Development
I currently work in Capital Markets Advisory, but have had a strong desire to make a pivot to multifamily development. I have some startup capital saved (~$400K) and really don't want to work for anyone, so I'd like to start my own shop. I'm just not entirely sure how to go about it and learn. I know a ton about multifamily real estate on the finance side, but development is another animal which I've had minimal exposure to. I was thinking of maybe getting a MRED, but I don't know if I could go back to school after 8 years. Also, I wouldn't want to take a year off and lose out on that income. Currently pulling anywhere from $300 - $500K annually depending on the year, so I'm also very hesitant to leave my current role until I feel comfortable with the development and have 1-2 projects lined up.
Has anyone had a similar experience, and if so how do you recommend learning more about the development process and nuances? One suggestion I've received is to shadow a developer for a few projects; that's something I'd consider but my concern with that is losing the autonomy/income I have now and working under someone who may ultimately not be a good teacher or not allow me to be as involved in the projects.
Sit maiores voluptas quis. Et laborum suscipit deleniti in sed. Natus dignissimos necessitatibus in debitis accusantium exercitationem reiciendis sunt. Iste provident quos est mollitia ut perspiciatis rerum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...