If you work in real estate private equity, can you invest you own money into properties apart from your job? Also, if you can what are the restrictions (if any)?
I am a rising sophomore honors student on a full ride scholarship majoring in finance and I’ll be declaring to minor in applied mathematics and computer science. My original goal was to become a quant trader or researcher at a top hedge fund in New York. However, I am considering possibly going into real estate private equity in Dallas because of the market and the lower cost of living. I plan on owning a few development properties outside of my day job, but I would like to know if working in REPE will infringe on that?
Lol good luck kid, I’d recommend not putting up a development before you learn how to do it from someone who has done it. Also where’s the money coming from for this because you’re going to need at least a few million on your b/s or a HNW who will take on guarantor risk with you. You’re many years away from what you’re proposing. Best advice is do what you’re interested in, not what sounds easy Because it frankly doesn’t sound like you’re interested in real estate
Like you would develop the properties? Agree with other comments - I'd advise against that. Now what you can do - and is something that I do frequently - is invest in developments on the side. You need to be careful to avoid conflicts of interest, but just don't be a shady m'fer about it.
Developing properties was the wrong wording, my plan is to finance a few duplex’s and single family properties aside from my day job as an extra source of income. I would only start with one property and build up my portfolio overtime.
Can you be a doctor and buy duplexes? Can you be a stripper and buy houses to rent out? I don't see what is the issues here...Unless your firm invests in duplexes and houses (unlikely you'll have enough cash to buy stuff on the side), I don't see why you'd think there's an issue? Plenty of people at my shop have stuff for rent for passive income, it's normal.
very common and very sensible, i've done it and many others in commercial real estate have done it
Plenty of people do this, I'm planning on doing this too. In fact, a few of the brokers where I intern own property on the side. Really good way to have income coming in and not be 100% on commission + great way to build wealth.
Same as the others re: owning property on the side while working in the industry. The only time it'd get awkward if you're buying similar sized properties in the same markets as the firm, thereby competing with them. Definitely some conflicts of interests there. But you may have a while before you can get to owning $1B in property and being a formidable threat to the REPE firm you're looking to work for :)
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