Trying to transition from MF AM to Acquisitions - need help now here to start!
Hi all,
This forum has been a huge help to me in the past and I am now a second year analyst at a MF on the asset management team looking to make a move to the deal side. After working a little over a year, I constantly feel like I am on team B and not getting exposure to the investing side of the business. For someone who eventually wants to venture out on their own, I want to get this acquisitions experience but do not know where to start.
A few key points to consider:
- Internal transfer isn't possible until year 3, even then, it a huge risk as your team is notified that you are applying to another group. Could be career suicide if it does not go your way.
- Compensation is great and I know I will most likely have to take a pay cut - but it would have to be for the right experience.
- I am in NYC and would like to stay here - should I reach out to headhunters?
Any help would be greatly appreciated. Thank you all in advance!
Hi Analyst 1 in RE - Comm, any of these threads helpful:
More suggestions...
I hope those threads give you a bit more insight.
Hey mate,
I went from appraisal > restructuring/asset management > acquisitions. At this stage, being so early in your career, you should be able to make the move from AM to acquisitions fairly fluidly. So long as you have good modelling skills, have knowledge of the acquisitions process and can pass whichever modelling test you may get, you should be good.
Reach out to the RE recruiters in your area and make it clear you're looking to get into acquisitions, it's a particularly good time to be looking now as there are a lot of vacancies.
Best of luck!
Thank you - do you mind if I ask how long that process from appraisal to acquisitions took for you?
1.5 years overall. I spent 6 months doing appraisal and hated it so went to AM. I then did AM for a year and then moved to a shop doing multifamily acquisitions
Any good modelling resources for REPE? What are the nuances between traditional 3-statement modelling and RE modelling? Is it significantly different modelling different properties?
Hey dude,
Adventures in Commercial Real Estate (ACRE) do a really good course for around $500. I wouldn’t have passed my acquisitions modelling test if I hadn’t took that course beforehand.
I wouldn’t be best advised to comment on the differences between a 3 statement model and RE model, I’ve only ever worked in real estate so my modelling experience/knowledge is pretty much focused on that.
Depending on how much complexity you want to get into modelling different property sectors can be quite different. Hotels for example are often projected/valued on the profitability of the hotel as a business and thus the operator can have a huge impact.
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