So far in my limited amount of experience, I have noticed that AM seems to either be a department wide big deal or just something that one person does in the group. I am sure this has a lot to do with hold period (ex REITS and Developers have AM departments while REPE have very lean AM teams sometimes just one person doing it for the whole West Coast).
Is it worth it as a career/skill set? Is investing time into developing your AM skills worth it in the long run? Like many in CRE I want to break into the entrepreneurial side sooner than later.
Curious others’ thoughts as well
I will share my thoughts as I got pushed in AM 2 years ago. Some background is im 4 years out of undergrad and work for a small PE shop.
I think there are a lot of pros of working in AM for a certain amount of time. You learn the very details of what it takes to run a property and can index expenses pretty quickly in your head.
There are also a lot of cons. AM never really consists of positive news. It’s always problems and becoming solution oriented. You start to search out the problems before they happen and in a nutshell that’s what AM is.
AM is usually a less sexy job and you get stuck having to solve for the underwriting which is tough sometimes. I think it’s a fine career but not one that I plan to be a part of forever.
+1. what makes you say it's not one that you plan to be a part of forever? what would you want to do long term?
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