Is This Good Experience?
I am currently in school and want to get into buy-side RE analysis after I graduate and attempt to get into REPE. I have an opportunity to work with the owner of a 100 unit property management company as his assistant. There is room for growth. Considering the career I want to follow, would this be considered good experience if a future prospective employer saw it on my resume?
Is this for a single, 100-unit building? Or a person who manages a mix of 100 separate or mixed units across town?
In general, for a career in real estate investment mngt, having some true "ground level asset" experience is actually really good and very underappreciated in forums like this.
That said, don't expect any of the so-called "REPE firms" to look at this as that much different than an average college job. Nothing bad or wrong with this, but it is not a job in investment real estate and does not sound like an institutional level operation.
So, if you can work this during the fall/spring and really don't have other internship opportunities, sure, do it! You may learn a lot about the apartment industry actually. Still, if you want an institutional real estate career, go for the internships that will get you that experience and job ops.
This is good experience however, you need to go into this understanding what the work actually is. Property management is dealing with tenants, unclogging toilets, collecting rents, etc. Property managers, unless they are vertically integrated in an investment firm, do not really have any direct interactions with acquisitions teams except with the asset operating costs budgeting.
If you're talking about an internship, the short answer is that all experience is good experience. More to the point, property management is the backbone of the real estate industry, a fact that way too many folks on these boards don't want to acknowledge or just don't understand. Especially at a smaller scale if you're starting your own business. While a hiring manager at a REPE may look down on this a little, as inferior to someone interning at a fund, I actually think you'll get more valuable experience than if you spent a few months shadowing a junior person at a bigger equity shop
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