I have been looking to break into an acquisitions role for 6 months now. I have 1.5 years of RE experience but more on the portfolio mgmt side and I have been trying to get closer to the individual transactions in an acquisitions function. This opportunity sounds better than what I have right now but I’m skeptical because its essentially just acquiring existing single tenant retail assets (fast food, urgent care clinics, fitness centers, movie theaters, etc) via sale-leasebacks on long WALT NNN leases to clip coupons. Is this going to pigeon hole me? Anyone have experience at a shop like this and can talk about exit opps? Appreciate it.
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It's a start into the acquisitions front. There is no reason you can't eventually move into something else. If you said you wanted to eventually do industrial...guess what, it's also NNN for the most part. So I think if you are trying to get into acquisitions, its a start, and in 1-2 years, you begin searching for a new role. 18 months into your career you are not 'pigeon holed.' This is a ridiculous concept WSO has created. Just go to networking events as the world begins to open up again and grow your network. Than, as you start looking for your next opportunity, you can use your network to open doors for you.
^This. Everyone loves to talk about the concept of being pigeon holed, but if you did NNN for 2 years, you are what maybe in your mid 20's ? Sorry but you are not going to be a subject matter expert in NNN that is going to prevent you from doing something else. Sure there might be firms that if you go through the traditional resume submission/ application will glance over you, but if you have read the threads on here about networking and learning to bypass the gatekeepers and go straight to the decision makers and impressing them you will get a shot. I think that the idea of being pigeon holed is about people not having the knowledge/ skills to do a different job, so keep working on your skills, learning the game, and network, network, network. Hustlers get paid!
Also I’ll add, there will be some firms that do tell you: you can’t work here, you’ve only done triple net. But that’s similar to the people that say you’ve done debt for 3 years so you can’t do equity. There are firms out there that will tell you this or not want to look at you, but there are also firms that couldn’t care less what you did because what we do isn’t rocket science.
Lol people enter real estate at 30 after working in marketing for a decade... you might need to lateral or take a step back in seniority, but you won’t be pigeonholed a couple years into the job
Ah the piegonholed questions.... How are you not piegonholed in portfolio management???????
Seriously, do you think there is actually much market value for "jack of all trades" down the line? Everyone specializes, the key is linking multiple specialties and skills that drive value. People jump around quite a bit. You can't forecast your career that much, if you like this opportunity and think you will get a lot out of it, take it! Don't overthink this stuff.
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