I am looking for thoughts from the RE pro's on WSO. I'm meeting with a friend this coming week who's a long time industry veteran and is leaving his current fund where he was a partner (just an fyi, I'm about 40, he's early to mid 50's). Over the past dozen years they've raised about $8B and he's primarily been the guy who raises the money and before that he worked with some of the biggest names (the actual guys, not simply the firms) in real estate. I started in REPE out of college and did that for about 4 years and have been in more traditional (but not totally traditional the entire time) PE since then and have usually kept up with and have had an interest in the RE world (investing personally and professionally), and we raised a smaller fund and put together an investment team at my old firm to take advantage of financially distressed assets in 08 (I put together the strategy and team and was on the investment committee but I wasn't involved in the day to day activities of that fund, although it did really well but I chalk that up to assets going for nothing in 08-09-we just bought right, no one involved was a genius). I will admit that I haven't really kept up with RE trends over the past few years simply because I've been too busy and after prices recovered and assets had been picked through I just didn't see any low hanging fruit.
My friend that I'm meeting with has been trying to get me to get back into real estate for the last 3-4 years because he knew I was unhappy with my former partners at my PE firm (long story). I think he's interested in putting together a new fund and building something big for the last 10-15 years of his career and I know he'll ask me my thoughts and probably want me to join him. I'm involved in another PE firm now but this guy may present something of interest.
I'm not looking for career advice; rather, because I haven't really been keeping up with trends in real estate, I'd like to get the thoughts and opinions of those in the trenches of what are the next hot sectors, products, types, strategies, general industry trends etc. so I don't sound like an idiot. I'm not sure where my dinner this week is going to go but I'm never one to not consider something that could be lucrative and fun, and I'd like to hear the opinions of those on here who are in the business. I'm obviously talking to other people I know in the field but I thought some of you would have good thoughts. I don't want to chase what's hot now or has recently been hot, but something that could be good in the future. And just general trends that you only get while you're doing it every day and not simply something you'd read out of an industry rag.
Thanks all.
