Is it wrong to hop around in your early first few years to try different verticals and figure out what you enjoy?
First year analyst in multifamily acquisitions. Now that I’m in the industry, I’ve come to recognize there’s so many other interesting verticals of real estate. For example, I always wrote off going to the debt side when I was in college just because I thought debt would be boring. I further was falsely under the impression people in debt don’t make money. I guess I’ll check that up to being a college student. Mezz / bridge lending seems like it would be interesting to work in. Development Id also like to get a taste of. Point is to say that I’m kinda interested in it all. I like RE that much and just want to get to really explore the industry before choosing what I want to do long term. Interning, 1-3 times throughout college, although helpful, I realized just doesn’t give you enough knowledge / exposure to really figure out what you want to do. Would like to spend next 2-4 years trying out as many different verticals and niches of real estate on the buyside as possible. Any suggestions on how to achieve this / how to do this without looking like a job hopper / etc. also under the influence when writing this so for I give bad grammar, sentence structure, wold selection, etc.
Can you move internally at your company? That could help. Or you could go to a small company where you do a bit of everything. That’ll give you a taste of it. It’s going to be hard to do everything - but it’s possible. For instance - I’ve done asset management, acquisitions, capital raising (debt and equity), lending, development. But it was more luck as it happened at two separate companies.
Would you say there’s any real benefit to having tried out those different verticals or is it better to select one and go all in on it?
Yes. You learn a bit about everything which is nice. You know enough to problem solve and ask the right questions.
I’m less of an expert than I would be otherwise and people who have done only one thing may know more about that one thing than I do, but I know more in general. Also, I am confident I can sell myself to do anything if I ever find myself out of a job. AKA more security.
Best way to do this is find head hunters that work with small PE firms and hedge funds that have broad CRE mandates. I know Raith Capital has a pretty broad mandate and do almost everything, but that’s only one firm. There’s a lot out there just like them.
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