Does working in REPE/development make you a good personal RE investor?
Just curious. One of reasons I was interested in REPE/development was because it might be tied to managing my personal investing in RE. Do you see a lot of cases in which working in the field actually make you a good side job or personal investing? Thank u!
Real estate isn’t rocket science. It definitely helps and teaches you the questions to ask. If you’re at an LP PE fund, you may not get the operational component of the business, but you can definitely learn it. I would argue development preps you to do your own deals-whether that’s acquisitions it’s development- due to being closer to the bricks. But both are good paths and work for people. As an aside - I know people at lenders as well who buy real estate on the side. My point being - any role helps. Use what you know and figure out how to fill in the gaps and problem solve.
Depends on size of firm, if you’re at Hines or Blackstone what you’re working on isn’t going to be pretty different in terms of scale of what you could feasibly do on your own. You’d probably be best off at a smaller repe fund/developer/operator doing $50-75 million deals.
Not to say that that you won’t gain extremely relevant experience at any real estate fund no matter the size though.
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