Transition to real estate acquisitions possible?
I have been working for 5 years as a commercial real estate appraiser and was thinking of transitioning to acquisitions. Also, I have an MBA in finance from a top 40 school. Is this realistic? If not what interim steps would be needed. Appreciate any advice!
It can be done if you plan it out accordingly and have a strong network. You will most likely need to take a pay cut and transition into more of an asset management or investment/financial analyst role. Once you build up transactional or operating relating work experience you would have a chance.
At the end of the day it really depends on the network you have built b/c your pretty far into the appraisal business after 5 years.
I have seen it done, but I'm not sure whether the person had to start out as a mere analyst. I would also expect the naysayers on here to tell you it does not fit the cookie cutter life plan for real estate greatness.
Thanks for your thought! Are there any other opinions?
Yes. Network with the owners you have done appraisals for. Look to see if they have analyst/associate level positions open on their acquisitions teams. The market is loosening up a bit so there may be a good opportunity out there. Good luck.
This should be easy for you to do. What city are you in?
Boston... I actually have an informational interview on tuesday with a managing director of a big cre investor... So it def seems doable. Thanks for all your thoughts!
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