How can I move into another field with Multifamily Research Analyst experience?
I have been at my current position for nearly 3.5 years. Its somewhat of an entry-level position (titled Real Estate Analyst) at a small consulting firm that produces rental market studies for primarily LIHTC (low-income) housing properties. I'm vastly underpaid for the amount of work I do and we are on the demanding deadline type workflow every 4-5 days. Its also a niche position in that in doesn't offer really any marketable technical skills (i.e. Agrus/Yardi/real estate finance).
We produce ~80 pg. reports and it mainly consists of describing a project's proposal, analyzing demo/demand, econ, inventory, saturation concerns, comparable property data, and determining rents. There are some sections of certain reports that require more extensive analysis, such as special needs demand, but overall the skillset isn't that extraordinary. Excel expertise would be the only really technical marketable skill. Of course project management, organizational and analytical are listed in my resume/cover letter but employers in R.E. seem to want technical skills and experience more closely attached to the open position.
There is little opportunity for upward mobility at my firm. A former colleague was there for 5 years until he pressed for a management position. They did grant him the position and a side office but he wasn't given a raise. He had to fight for a while to get properly compensated for his new responsibilities.
I'm looking for a more upwardly mobile position. I would like to be on the asset management/development, commercial investment and lending side of multifamily. I would feel this type of work would not only be more rewarding but also more lucrative. I have a Master's in Urban Planning and Bachelor's in Business Administration with a minor in Urban Studies. I did have an unofficial focus in real estate finance in graduate school. I built upon this focus by being the lead on the development/team of a capstone group project and also was the finance person in the Urban Land Institute Hines Design Competition. All of this of course doesn't do much for employers who want actual employment experience in real estate finance or asset management.
I sense that I'm heading towards a dead end if I continue at this firm and in this field of R.E. I haven't had any sort of response from dozens and dozens of applications over the past year. There is ample opportunities even with the weakness in the market but I feel like I'm not qualified for most to if not all positions.
I'm trying to figure how to be more marketable for potential employers. I've considered getting an online associates degree in R.E. finance, or, obtaining some sort of licensure in mortgage underwriting. I'm not sure that these would be worth the time or money to obtain one of these. I would appreciate any advice in how to move out of this research analyst field.
Thanks
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