Lean acquisitions team at a large owner/operator — normal growing pains or wasting valuable early-career years?
I'm currently an acquisitions analyst on a lean investment team within a relatively large, privately held hospitality owner/operator. I've gotten some solid exposure to underwriting, evaluating acquisitions, rebuys, communicating with brokers, and the overall transaction process. However, I'm starting to question whether the lack of mentorship and structure is hurting my long-term development.
My direct boss is largely MIA. There's very little training, almost no feedback on my work, and virtually no discussion about professional development or career progression. Most of what I've learned has been through figuring things out myself.
One of my bigger frustrations is the lack of communication and follow-through on deals. I'll spend time underwriting an opportunity, communicating with brokers, requesting additional information, etc., only for the underwriting to go nowhere. No feedback on the analysis, no discussion about whether we're moving forward or passing, and often no response to the broker.
I understand that the vast majority of deals don't go anywhere, and that's part of acquisitions. But it feels like we're wasting everyone's time, including the brokers'. As the analyst who has been communicating with them, I also worry that the lack of follow-through reflects poorly on me professionally. I'm curious how brokers view buyers who regularly go silent after requesting information.
The frustrating part is that I genuinely enjoy the work and want to get better at it. I appreciate the autonomy and exposure I've gotten, but I also recognize that these early years are when I should be learning from experienced investment professionals, having my underwriting challenged, and developing good habits. Instead, I sometimes feel like I'm just producing models without really understanding the investment decisions being made (or not made).
I'm also pursuing a graduate degree in real estate and eventually hope to transition to a more institutional investment platform, whether in acquisitions, asset management, or investment sales.
For those who have worked on lean acquisitions teams, particularly at privately held owner/operators, is this fairly normal? At what point does autonomy stop being an advantage and start becoming a lack of development?
Am I overthinking this, or am I potentially wasting valuable early-career years by staying somewhere with little mentorship, feedback, or clear progression?
Would also appreciate perspectives from brokers on how they view buyers who regularly go silent after requesting information.
Having a good boss is honestly underrated. Someone you actually vibe with, can learn from and who wants to see you succeed. Your wins are their wins too. Eventually you become their go to guy and start getting pulled into bigger decisions. That relationship alone is a huge reason to stay at a firm
100% agree with this. First job - great manager but didn’t like the role anymore. Second job - interesting work but manager was not a good fit for me at all.
Agree with excel relapse. Sometimes this is just big firms though. You need to speak up for what you want but not everyone is going to mentor you. Most people want to come to work, get their work done, go home and not worry about work. They don’t want to spend extra time training people. A good boss is worth a lot. Maybe it’s time to look elsewhere but understand it can be a crap shoot. Most people don’t care about others they just care about themselves.
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