I've recently been offered a position as an assistant project manager at a smaller MF development company. I've currently worked in investment sales for 1 year at Marcus & Millichap and have decided to pursue opportunities within the development sector of the industry. Development is much more fascinating to me and aligns better with my long-term aspirations.
I was offered the position through my Masters program, which is an MSRE at a Mid-Tier state college. My long-term goal is to go off on my own while specializing in both MF ground up and value-add deals. My question is, is this even a step in the right direction? The firm is very small (less than 8 people), and I would be in direct contact with the firms principals.
Their PM's facilitate the entire process from entitlements, pre-construction, and construction activities. Should I be looking for a finance position, or will this construction experience translate directly when I go off on my own? Personally I feel its a good opportunity to be involved in my facets of the business, while learning from local successful developers. I also am not as passionate about the finance side, but I do understand that it is a very important component to the development process.
I believe longer-term they will allow me to be involved in other aspects of their business. I know that developers come from all different backgrounds, but I wanted to get anyones thoughts on if this position seems like a good opportunity.
Thank you very much,
Kyle
Sounds like a great opportunity to me. There is a lot more to Development than financial modeling.
Thats what I figured. I think that will come with time and repetition as well. Thanks for your insight. Any other opinions are welcomed
I’ve asked a similar question in my post about Cumming Corporation. I got some great advice there. From what I’ve learned, your opportunity sounds better than mine and people said that my opportunity sounded good! If you want to do Development, working in development seems like the route to take.
CRE any thoughts on this? Thank you
I swear I stopped getting notifications this week of tags, bananas, shit, etc. WallStreetOasis.com Never saw this one either.
Anyhow, CREPursuit - this is a brilliant opportunity and I wish I had taken advantage of something similar to it early on. Financial modeling is something like 5% of my job, if not less. Once the project is modeled out and everyone buys off on it, the other 95% of the job is executing on time and on budget.
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