Early Career Choices
I'm at pivotal moment in my career and would like some thoughts/advice from y'all. I'm a year out of school and have 2 years (incl. internships) of multifamily development experience under my belt. Trying to decide if I should join a new regional office for a national multi firm (eg. Greystar, Mill Creek) and help get that off the ground OR go work for a more established firm in my area that does bigger projects (high-rise, mixed-use). Would be an analyst/associate position.
I like the regional office opportunity as it seems more entrepreneurial, but also risky for this stage in my career. Long-term goal is to do my own deals, whether it's ground-up or existing. I don't come from money or a well-connected family. So I want to choose the right path to build the experience, credibility, and bank account that I'll need later on.
I was also considering a jump to CRE debt for better pay, structure, deal experience. Development is a fun business, but the pay sucks at junior levels.
If you want to do your own deals take the one that feels entrepreneurial and stop worrying about whether a job feels risky. I used to think like that and it held me back a lot. That kinda risk is nothing compared to doing your own deals.
Debt vs building apts is very different so it depends what the heck you're drawn to personally. I do highly recommend the debt broker route though, can be a great path to making great money at a young age and having time for your own entrepreneurial pursuits.
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