Bored while watching interest rates rise and the price of debt slowly plunder offices so I have turned to my fellow monkeys to get some thoughts in exchange for bananas. I hope this will shed some light for future real estate creatures in their pursuit of land.
During your career, have you been sector specific or agnostic? Has this respective choice helped your career or limited it?
While I see the benefit of being agnostic in the beginning of your career, I also see benefits in becoming specialized and becoming the go-to person in a niche.
I started out at an office-only operator. I'm grateful for the experience, because I got a ton of Argus training because of it. I went to the LP side mid-2021 and became sector agnostic. I enjoy having a much broader exposure -- I think it teaches me to be a more nimble investor. I also dodged a huge bullet by leaving office -- can't imagine being focused on the sector right now.
Unless you're at a MF, you will probably make the most money when you become a specialist in an area, at least in my view and what some recruiters have told advised me.
However on a personal level I've bounced from a single sector focus, to being a generalist, and back to a single sector focus and I can tell you I am currently bored out of my mind. I've accepted that I'm never going to be a billionaire, let alone a multi millionaire, so I'm more focused on what I actually enjoy which is variety and I'm now focused on getting back into an agnostic role even if it might pay me less in the long run.
Not agnostic, but we focus on two asset classes 99% of the time. We're open to anything if the price is right, but mostly stick to our bread and butter.
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