Acq job market - Summer 2023
What’s the acquisitions job market look like for an MSRE grad finishing the program August 2023? Seems like, as if now, everything has dried up at the associate level. Terrible timing or will things be moving again?
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Good luck my dude
I’ve been getting pinged a lot more recently for gigs coming up, maybe things are starting to turn.
Currently in an MSRE program, a lot of summer 2023 internships are opening up and seeing full time acquisition/development roles as well in NYC. Where are you based, Boston?
Saw you are in brokerage, shouldn't be hard based on your last post. Even if you need to go to a smaller unknown owner developer do it. I did that after two in brokerage, am now am getting looks from some very well known firms.
The time on the principal side is what matters, the modeling is more intense, you're seeing way more on that side of table. Brokerage is great, but 3 years in brokerage you can learn the same as 1 on the principal side in terms of what you see and really learn even if your team doesn't take time to mentor you. Brokers you're quickly looking at UW, putting together a package and doing that over and over. Principal side even if it's a pass you're digging way deeper, justifying comps, discussing with your more junior team members what do you think of xyz scenario in todays market given high interest rates. It's a way different conversation and you really learn a lot about how to look at a deal, plans, what a realistic timeline is for a value add vs ground up deal vs some random info the owner may tell you as a broker or you assume in your model. You learn about what pricing really makes sense, spread between YoC and exit cap/which owners want a bigger spread and why. You get to talk to capital sources to get their real time thoughts, discuss live deals they may be interested in selling without going through a broker, real thoughts on why they're selling ("Bc our mandate was office at the time, now were switching gears these assets we bought at insane basis"). I was at a shitty brokerage shop but I did not have the same conversations principal to principal as principal to broker. Also on the principal side paychecks are steady, so sure we aren't making $50k to $200k to xyz a given year but you know what you're going to make and have stability. Lmk if you have any questions.
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