Should I jump ship?
I'm currently working at a large affordable / student housing GP doing acquisitions and have around one year acquisition experience so far. I'm looking to jump ship and join a smaller shop focusing on multifamily value-add. I wonder if it's common to be asked to start as a first year analyst at the new shop given I only have one year experience? Is it possible to start as a senior analyst or it depends on shops? Would really appreciate any insights.
It all depends on what you’re recruiting for. If you don’t want to start as an analyst, don’t recruit for roles that say analyst.
You probably won't be getting a promotion with only 1 year experience and moving to a different product...you may get promoted sooner than an analyst fresh from college though.
Don't do it. Stay with student housing for like 1-2 more years. Good place to be given a potential recession. YOu will not be pigeon holed if you want to get into MF.
Thanks for the insights. I think it definitely makes sense to stay to get through the recession. But do you think student housing is a better place to be in the long term compared to multifamily? I understand multifamily is pretty competitve space but my thought is there's also very limited student housing markets where it makes sense to buy. By contrast, multifamily properties are pretty much everywhere
why is student housing better than MF in a recession? is the logic that universities/colleges will still have enrollment while those purchasing/renting MF might do so at a slower pace?
correct. Also, those schools with masters programs are likely to see a higher matriculation during recessions.
Interested as well
I recommend staying in student and affordable housing because value-add multifamily is saturated due to a low barrier to entry. You won't be able to distinguish your skill set in value-add since it's the most common investment style. It's also easier to transition to value-add down the road because it's simple.
agreed.
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