Hello Fellow Monkeys,
Ive recently begun my post grad journey in CRE on a valuation team at a top brokerage shop. Ive already decided this is not a long term play for me and am looking for advice on where and what I should do in the next year in order to leave this side of real estate and break into acquisitions or repe. Any advice would be greatly appreciated.
Network and get lucky or go back to school and get an MBA/MSRE. Also, don't stay in appraisal too long. The pay gets good really fast so get out early if it's not for you. I took a pay cut when I left appraisal to join an LP investor.
how good how fast
Really depends on the market, what firm you work for and how many hours you're willing to put in, but a good range is probably $150k-$250K all in by year 2-4. Top producers are anywhere from $250-$750k. i don't think anyone ever broke $1mm when I was there but someone might have recently given the refi/acquisition volume in 2021.
This is not true haha
It was true 8 years ago. Production numbers were a regular topic of conversation and I knew 8-10 people who were within those ranges, myself included. The top producers comp range were people with over 10 years experience, perhaps I wasn't clear on that. But if you say it's not true I guess I'll just go fuck myself.
I think he's saying it's not true given you are laying out data points from 8 years ago...
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