Hey monkeys, need some advice! For some background I’m currently working in an asset management and servicing role right now and my goal is to jump to acquisitions. Didn’t realize what I got into when I took my first job but that’s besides the point.
I recently got offered a job at a valuation and advisory company (think Altus Group, Etc.) for a valuation analyst position. I would be running valuation financial analysis, DCF, managing 3rd party vendors (PCA, etc), and helping to write appraisals. If I take the position I would probably stick around for a year to year and a half before leveraging that to get an acquisitions role.
My question: Do y’all think it’s worth taking this position as an intermediary step before moving to acquisitions or do you think I’ll be able to find someone to give me a shot? I haven’t had much luck yet :/
yup, I would take that over servicing
Yeah that’s my thought but do you think waiting to get into investment sales or keep applying and networking to get into acquisitions would be better than taking a year to work in valuation and appraisal?
Former
Valuation is a big part of acquisitions, developing those skills will have transferable value. Appraisal, advisory, and consulting can open a lot of doors. Especially true when you become client facing.
That’s true, do you think 1 year at this position would be enough to jump to an acquisition shop?
Yes it's possible. Maybe closer to 1.5 years so you are able to learn and digest how valuations work. For reference, my first job was valuations and while I don't currently work in acquisitions, I was able to get interviews within that and asset management at the ownership level. Probably could have gotten in/better looks if I cared about networking back then, so keep that in mind as well.
Currently in a valuation role; I think it's a great spot to learn, gain deal experience and build out your resume before trying to lateral
That’s good advice, when trying to move to another position you said you would try to lateral? Do you think you would be able to secure a sr. Analyst gig at an acquisition shop after or just an entry level?
Alot of it depends on your deal experience and your position at Val shop
key is to get out of valuation asap.
yes. going to something like acquisitions from your job would USUALLY require some extra step. you're getting closer. you'll make it a lot easier on yourself if you do a stint in valuation. baby steps, you'll get there
if you really need to, use valuations to get into IS then repe/development
From what I have been hearing it seems like Investment Sales is a much more clear route to break into Acquisitions/REPE. From what you said do you think I’d need a stint like valuation to break into IS first? I’m trying to minimize the amount of stints I take to break into my end goal
For what it's worth I was in Valuation for about 3 years before moving to the principal side for our Acquisition/Disposition team where I've now been for ~2 years. I was able to secure a handful of interviews for development and principal side roles, which I credit mainly due to my team being a high volume team, meaning top 5% in fees for a national brokerage. I knew I would be competing with other candidates who may be more qualified from IS/Debt Placement and other Principal side backgrounds, so as others have said, it is a role that can get you there but there are other routes than can provide a much easier transition.
If you do opt for this route, I would be sure the team you are working on is a high volume team (12-30 reports/month) that works on a array of deals as this can help sell your story in understanding complicated ground lease, tax credit, development, value-add deals, etc.
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