Leaving consulting for Real Estate offer in Phoenix?
Just want to get some thoughts from people in the indsutry. I currently have been consulting for about 3 years and just got an offer from a Real Estate shop in Phoenix, AZ.. I'll be coming in as a senior analyst and was offered 75k all in. I have 24hrs to decide according to HR.
A little background about me, I'm a former athlete and love being in the sun doing activities. That's why Phoenix attracted me. I'm also in my later 20's/ single.. I would like to get some insight on individuals in the RE industry or Phoenix AZ finance market. Is 75k a fair offer? is there a strong finance presence in Phoenix? What is a solid salary to live good out there (I have no debt month to month asides car insurance/ rent) … Also any other nuggets/ advice would be appreciated.. Places to live, areas to avoid, etc..
Thanks!
What kind of real estate shop--are they doing deals local to Phoenix?
$75K with no prior real estate experience is at or above market. Phoenix is growing quickly--#1 for net migrations in the US currently. Great place to be if you are doing deals locally, although it does tend to get hit harder than other markets in a recession environment.
Cost of living is low;you can find a nice studio apartment for less than $1,500.
Thanks Ricky. Most of the deals are Southwest & Midwest.. Do you have any recommendations on areas I should narrow my apartment search?
Downtown Scottsdale is probably the most fun/lively for mid-20s professional. Also check out North Scottsdale, Tempe if you are OK being around a lot of younger students, Roosevelt Row area of downtown if you want to be closer to downtown/airport area.
Definitely Old Town Scottsdale. Downtown Phx is good too. There's a lot of really nice areas to live in including Arcadia and North Scottsdale. It really depends on what type of environment you prefer. I lived there for a number of yearsso feel free to pm me if you have any questions about the area. The CRE industry there is decent and growing. If you like to do things outdoors it is a good place, although a few months out of the year those types of activities almost exclusively happen before 9am. Unless you're part-lizard like some of the locals and can golf in 110+ degree heat mid June-August.
I would agree with Rick above although if you're 3 years into consulting you're likely taking a pay cut depending on where you currently live, which is unusual for a career pivot. If you do well you'll likely get bumped to all in $90k within 1-2 years.
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