Hi all, I'm looking for some advice on a career path / what my next step should be.
currently i am a valuation analyst for a repe firm in NYC for our multifamily properties. I run DCF, DCAP and sales analysis for our properties along with some ad hoc work and small other tasks. all of my analysis is on multifamily properties we already own, so i don't actually have any deals under my belt. I also don't have due diligence experience. i believe i have solid real estate and modeling skills, nothing too complex however. what would be a good next step in my career where i can further develop and learn more.
do you think i can get into acquisitions? if so what kind of firms would be most likely? (lifecos, reits, repe, etc)?
if not what would be a good next step to set me up for an acquisitions role?... debt analyst at a bank, maybe a capital markets or IS analyst at a good brokerage, Asset Management analyst?
yes you can get into acquisitions, but these jobs are very competitive. the best way to elbow your way in is to be in the right place at the right time. start networking your ass off and creating new relationships with acquisitions/development/AM people at all of the above places you mentioned. if you keep your head down and continue to do this while checking in regularly with your contacts, you will be surprised how quickly real leads (human leads, not selectleaders posts) start materializing.
It's perfectly reasonable to ping a contact once every 4-6 weeks to let them know you are still interested in their firm and to kindly request they keep you apprised of any opportunities. As long as you are respectful, most people in turn respect persistence and will help. When an opening does come around you will be top of mind instead of a resume in the paper stack. And if you are a little annoying, who cares. Better to have asked than remained nameless.
Create a google news alert with their firm's name (or their name if they're regularly in the news) and be sure to follow the company on LinkedIn and Facebook. If they do something of note, send a quick email congratulating them or offering legit insight.
Likewise, if you do cool shit, let them know. "Hey I did this - what have you been up to? Hope all is well."
If you guys talked about non-business things, like say college football because you went to rival schools, well it's now almost football season so those tidbits are perfect. Shows you paid attention too.
Overall though, it's only creepy or desperate if you make it that way. Neither of you should be under any delusion as to what the relationship is - you are trying to get a job or a higher up connection and they are trying to scout you for talent in the future or knowledge on competitors. It's a beneficial relationship for both ends, so there's no need to be weird about it.
anyone else?
One thing I'll mention is - if you're currently an analyst, and have put in a few years, it might be worth waiting out a promotion. Do you think that's likely to happen in the next ~18 months? As many have mentioned on these forums, moving laterally (title-wise) to another firm is much easier than moving up to another firm.
How long have you been in your current position? I would say that if this is your first job out of undergrad, a minimum of two years is needed before moving on.
Also what type of deals are you currently looking at? Institutional quality? Do you want to stay in your current deal profile or make a change?
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