Is this a good multifamily firm?
I am interested in moving to real estate and there is an asset management role I am in the process for. I have zero real estate experience and want some help assessing this.
The pay is really low (45-55k) and the stats are the following. It seems to be a small portfolio of student housing. Is this a bad career move?
- 31 properties
- 6,131 units
- $900m AUM
Where is the job located? Depending on what market it is in can swing the pay range.
Pay is definitely low even for entry level and really not competitive for what you’re likely going to be asked to do. To put into perspective - at $45k you’ll be making less than the on-site management staff that you’re building budgets for to implement in the day to day operations of those assets.
Seconded that pay seems low even for an entry level position. I guess the big follow up questions I would ask you are:
What does the job entail? Is it going to be actual asset management where you will be looking at asset level returns, assessing leases, looking at future refinances, or will it be closer to property management where you are managing budgets and vendors?
Does this job/ space interest you? Are you interested at all student housing / AM or do you know want to strictly do industrial acquisitions? (Maybe you don’t know yet and that’s fine too, but another thing to consider)
What are your other options? Do you have time and money wait for something else/better? Do you need more money than what this is offering?
My two cents are as follows: this doesnt sound like your dream job. Explore your options and see what else you can find. That said, market isn’t hot rn, and if you’re able to support yourself, learn, get a foot in the industry, its way better than sitting on the couch watching reels. If the market picks up in 6 months and you find better gigs, you’re allowed quit your job. Your 6 months of work will also make you a more experienced candidate to a future employer over someone who was working in an irrelevant field for that same time.
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