Career Advice: Tax Manager or start over as Real Estate Analyst
I am over 30 and have been working in tax at big 4. Got my MBA finance from a 3rd tier school(I know, I know, should have gone to a top MBA even though the 3rd tier school gave me a scholarship). I didn't do an internship during my MBA because of some family issues but I cleared CFA level I. All my work experience are tax related. I like real estate investment and wanted to work in REPE, REIT, or real estate development etc someday, earn a decent paycheck doing what I like. I am offered a CRE associate position at Massey Knakal Realty. Looks like it would be a great learning opportunity(CRE sales, underwriting, valuation, client relationship etc). The starting pay is less than half of what I can make as a tax manager though. And I know if I continue to do tax (although not passionate about it), I will be making close to $150K to $200K 5,6 years down the road. So I am trying to see what exit options I have if I take the job at Massey Knakal and if those exit options worth me leaving my tax job which pays $150 to $200 couple years down the road. Thanks!
this is what you'll be doing if you have NO RE connections and work alone.
step 1: create a list of owners in your market step 2: make 50+ phone calls DAILY hoping to schedule a meeting step 2.5: put up with owners insulting you and hanging up on you step 3. go to these meetings (nyc has a lot of sketchy neighborhoods) step 4: do a proposal explaining the price and hope you convinced them to sell step 5: now that you have the listing, its time to find a freaking buyer (this is the hardest part) step 6: attempt to close and pray nothing goes wrong step 7: COMMISSION! step 8: repeat steps1-7
you'll do this for a few years. is it easy? no. is it rewarding? it can be. but realize that a lot of things can and will go wrong. good luck
Thanks so much for the candid advice, fez! I am not looking to stay with a brokerage firm for long as I am not a sales type person. I am trying to see if the real estate valuation/underwriting experience at Massey Knakal would give me leverage into REIB, REPE or REITs in the future. And how long will this take? Or if I need to have a MSRED from a top school in order to get into REIB, REPE etc? A lot of my clients are developers, REPE or REITs, so maybe I can still break in from that route? I guess the ultimate question is if all these effort worthy considered that I am over 30 and can make a decent amount of money doing tax couple years down the road. Although I understand that staying with tax means I am gonna do something I am just ok with but not passionate about and I won't have that potentially lucrative bonus doing real estate investment.
Sophie :-)
Voluptate cum ut incidunt vel ex laboriosam natus. Praesentium est unde libero et placeat qui reiciendis dicta. Harum sunt nam aliquam nemo qui blanditiis possimus. Nesciunt quia nisi nam ea hic qui repellat. Consectetur ea eum suscipit sit et dolores laborum.
Amet enim sunt dolores et odio amet beatae. Voluptatem ut in ea qui eos. Est minima pariatur rerum odio unde consequatur. Laudantium id et dignissimos maxime consequatur. Beatae ut saepe reiciendis ducimus vel saepe. Animi enim delectus eum quia. Quae omnis reiciendis et explicabo officiis.
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...