Agency Affordable Underwriting Analyst to Affordable Development
I recently accepted a position with at a one of the big four real estate firms doing affordable debt underwriting. I had an internship at a market rate multifamily debt group at a regional bank but the reason I took this position is for my interest in affordable housing (I did a few case study competitions revolving around LIHTC). Seems like a slam dunk to me but frankly I want to be a developer. My father is a small time developer and when I worked with him I really enjoyed the interdisciplinary nature of development (interacting with architects, engineers, investors, contractors... so on) and so that is where I want to be (preferably in the affordable sphere). He has a few deals in the pipeline but his last deal went south due to covid cost overruns and 84 lumber's incompetence (their regional manager turned out to be an addict who stole from the company and kept no cost records). Long story short there is no guarantee that I will be able to make the jump by working with my father. Is it feasible to leverage affordable underwriting expertise into a career at a developer?
Yes
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