Is development to REPE common? (GP to LP)
I am currently an analyst for a mid-sized development firm with about 2 years of total experience, and 1 year of real estate experience (at current firm). I currently focus on underwriting, research, anything analytical, etc. across a couple of asset classes. While I focus on finance, I am also getting exposure to development/project management, asset management, capital markets, etc. I am basically the only junior-level analyst so I help out in different areas. I definitely want to stay for 1 - 2 more years and keep developing my skills and knowledge, and have a great team around me.
After that, would I have a favorable background to jump to REPE as an associate? Or would I be better suited to jump to a top tier developer as a development associate? To break into REPE, would I need a top MBA or would my experience be enough?
Bump
This happens all the time, definitely not uncommon. In fact, LPs generally view operator experience as a positive due to supposed better understanding of the assets.
Just network, and try to train up your modeling skills. Often the hardest part about REPE interviews will be the modeling portion of it.
Thanks! My firm is institutional so our financial models are pretty rigorous, so that should help. That being said, are there any REPE modeling tests out there for free?
Of course dude. It's all just investing in real estate. You know well enough at this point that the numbers part of this business can be done by a monkey.
Anything is possible, stop limiting yourself because it's not the common path. You're in real estate, there is no common path. If you're good, you'll do it. It's just a numbers game.
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