I have an interest in underwriting but I hate the idea of traveling to do site inspections. I hate flying and the whole process of it. How often do you guys actually travel?
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I'm in production, but either us (the analyst) or the underwriter during the DD period will go and visit the site. So, if you're on a busy team, you could be traveling a lot.
Although if you hate flying, I'm sure your firm can find a workaround and have others visit for you.
I was an underwriter in my past life. Turn around time for each deal from the start of UW DD to close is about 2-4 weeks. So that means you'll have to fly out at least once a month (may be less if you're junior on your team). Lender travel trips are terrible, you're ticking boxes on the list and it gets mundane as hell.
What kind of UW were? I’m interested in real estate commercial lending.
Fannie DUS lending program at a top 3 shop
Site tours are a necessary part of real estate. Pretty much any typical role is going to require you to do site visits whether you're on the debt or equity side of a deal.
If you don't like traveling, I suggest finding a shop/role where you're solely focused on local deals.
How often would there be traveling tho? I don’t mind a few times a year just not every month.
Depends on your shop and their mandate/target markets. Are most of your deals within driving distance? Probably not often. Are your deals 100% halfway across the country? You'll be on the road a lot.
I’ve just started UW and it seems like ~1 trip a month or maybe 1 every 2 months
Been doing one or twice a month so far this year, a bit heavier than normal but dependent on deal flow.
Do you fly out or drive? How long are the trips typically?
Fly, 1 to 3 days typically depending on where in the country
Are you scared of flying?
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