Looking to Transition from "Regular" Buyside Finance to Real Estate

Hi all, a bit of background on myself:

  • Graduated from an Ivy in 2010
  • Spent 2 years as an analyst at a BB bank (top group)
  • Spent 3 years at a lower MM PE/Private Debt Shop focused on energy, healthcare, consumer
  • Spent the last year at an upper MM, well-known PE/Private Debt shop (focused mostly on mezz) focused on industrials, healthcare, consumer

Long story short, I have been very interested in RE for a while, have done a lot of research, have spoken to a large number of people in the industry (and made a number of useful contacts along the way - I understand network and relationships are everything in this business), and have decided I would like to transition into acquisitions & development, ideally focused on hotels but interested in other areas as well.

While I'm fully willing to take a pay cut / demotion (currently a senior associate at my fund) to learn the business, I've gotten different advice on how to break in - some say try to break in now with no real estate experience, some say go for an MBA and focus on RE, some say get a masters in RE and then try to break in. For those of you who have experience in the industry, what would your advice be? I am leaning towards doing the MBA (have been wanting to do one anyway) and trying to get an internship in the area to get my foot in the door. Let me know what you guys think.

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