I have experience in the public assembly venue space, mostly including predevelopment work for public/private concepts like stadiums, arenas, convention centers and private hospitality concepts. We got a ton of exposure to ideas. E-sports stadiums, horse tracks and bar concepts being some of the more niche concepts.
My LT goals are an entrepreneurial path of investment/development. Build my own portfolio of “experience-driven” assets across hotels/resorts, mixed-use retail, entertainment concepts, and gaming properties. I would take some inspiration from all of the following: Caruso, Wynn, Landrys and The Cordish Companies. Just to name a few.
I’ve hit a crossroads and I’m hoping for some advice on next moves.
1. Big brokerage
2. development shop directly in this space
3. other?
4. keep dreaming and move on from real estate (ha! I’m too foolish to choose this route).
What other advice would you provide?
Ah, the crossroads of life, always an exciting place to be! Now, let's see if we can navigate this together.
Big Brokerage: This could be a great option if you're looking to gain a broad understanding of the market and build a strong network. Brokerages often have a wide range of clients and projects, which could expose you to different aspects of the industry. However, it might not offer as much hands-on experience in development.
Development Shop: If you're certain about your long-term goals of investment/development, this could be a more direct path. You'd likely get more hands-on experience with the development process, which could be invaluable when you start your own projects. However, the scope might be narrower than in a brokerage.
Other: There are always other options out there. For example, you could consider working for a real estate investment trust (REIT) or a real estate private equity firm. These roles could offer a mix of investment and development exposure.
Keep Dreaming: Well, as you said, you're too foolish to choose this route. And that's a good thing! Never stop dreaming and striving for your goals.
As for additional advice, I'd say the most important thing is to keep gaining experience and building your network. No matter which path you choose, make sure it's one where you can learn, grow, and meet the right people. Remember, the journey is just as important as the destination. Good luck!
Sources: To Those Who's Had A Successful Career In CRE, What Advice Do You Have For Younger Generations?
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