Breaking into the real estate industry?
What's the best way to break into the real estate industry? I'm interested in the finance side of Capital Markets, but would also be interested in any kind of investment analyst position. I'm trying to network as much as possible.
I really don't love my forensic accounting position in Big4 and want to do something different prior to being pigeonholed into such a niche field. I work on more of the valuation side (disputes, claims) and will have my CPA.
You are casting quite a large net. Is your objective to do underwriting work on the debt side (CML, CMBS, etc)? Or you want to get involved in workouts and dispositions because you mentioned "valuations (disputes/claims)?" It sounds like you don't have a concise idea regarding where you want to go?
I work in REPE and I know people worked in RE advisory roles doing valuations at a Big Four before jumping to an institutional RE shop. Maybe that's something worth looking into? Ultimately, you will figure out exactly where you want to land on your own...
Yeah, part of my networking is really nailing down what specific opportunities are out there. I definitely think if I worked at a bank I'd be really interested in the underwriting, but want to gain valuation experience with ARGUS. On the brokerage side, there are "Capital Markets" roles that are either the finance side or investment sales side. I really would be interested in the finance side doing valuation and assisting brokers with their deals.
The problem with the RE valuation group is that they're going to want prior RE experience or at the very least, prior TAS-Valuation experience, whereas what I do is light valuation (which is why I want more technical experience). The TAS-Valuation group is a lot of valuation for intangible assets which I don't find that interesting.
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