How was your 1st Year in the RE industry?
I transitioned to the industry last year in RE Asset Management. I didn't have any experience, but I was working in Finance at BB for about 3 years before. It's been good so far, but I still feel overwhelmed because there are no formal training and it's a pretty lean team. For you guys who have been in the industry for a while, how was your first year? what did do to add value and show your potential?
Thanks
My first year was doing office leasing tenant rep in NYC as a 22 year old new to the city, so not well...
I also started on a lean team....it was a lot of drinking from a firehose, not knowing anything that was going on during conference calls, google and youtube were my friends to figure shit out. Now that i am 5 years in and have mastered the technical aspects, i am focused on improving my internal communication skills, legal knowledge (fully understanding loan docs, jv agreements), and builindg my external network.
Yeah, I use google to figure stuff out as well. I also use Adventure in CRE which has been helpful.
i agree. the modeling nuances can be learned within 2 years. but the legal docs, loan docs, JV agreements can be tricky. it's one thing to understand it and another to know what to catch, be creative and think about the downside and upside and the big picture.
Wrapping up my first year as an Asset Manager at a lean firm as well. The internal communication was easy, working with property managers was easy, understanding multiple markets and navigating the leasing front in those markets was/is somewhat difficult, and understanding the legalese in loan documents, lease agreements, etc. was tough to get used to but I am getting the hang of it. All in all, you get to wear a lot of different hats, get to interact with a variety of people, and every day is different.
Spent all day buried in ARGUS as a junior analyst, and all night telling chicks I was lubing up skyscraper deals with Blackstone.
I made no money. So there's that.
It sucked! I made $40k as a valuation analyst. Left that firm so quickly I don't think I even met everyone on the floor.
Like another person said, it was like drinking from a fire hose. Transitioned from corp fin to REPE acq with a lean team and lots of on-the-job training. Not much has changed — I still feel like the dumbest person in the room most days, but the dread I feel when I walk into the office in the morning is slowly going away.
Damn I didn't know RE was this stressful. I kinda assumed yall just sat around, ate beef jerky, told dick jokes and farted on each other all day.
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