How Many Deals Do You Work On In Development?
I currently work as a development analyst for a relatively small team (50 peoples) in a large east coast market (DC,BOS,PHL) but does work nationally.
I was wondering how many development deals you all work on on an annual basis? I feel like I've only really been able to dive into 3-4 deals in the last year. This includes initial design meetings, modeling, proposal creations, construction, etc.
I do get to see the developments cradle to grave, but compared to my friends in acquisitions or even friends in larger development shops, I feel like I'm not getting as much deal experience as I should? Would love some insight.
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Welcome to development brutha!
What is "enough" deal experience? Do you think having a lot of insight and experience is more or less important than knowing something at a 30,000 ft view? This question feels like something you can answer yourself with a few seconds of reflection.
Or, more to the point, are you spending most of your day working, or sitting on your ass scrolling through social media? Your answer to that will also answer your question above.
Those are average numbers. Any less and you are probably stuck on a mega mixed-use project that will take a decade out of your career, that path is not for everyone. I have worked at a firm where I handled over a dozen projects myself along with half a dozen I worked on in tandem with a more senior member of the development team. When you have that many projects, it gets repetitive because they have to be similar (if they were not, you would be working 100-hour weeks) and the increased deal flow does not add to your experience. 3-5 is the sweet spot and is indicative of quality developments and profitable scale.
I'm currently working on three developments, two under construction and the other in entitlements, with a few pursuits on the side. That's pretty typical for development. You could take on one or two more if you have some good outside help like a solid CM.
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