Which Role?
If you had to choose between the following 3 options, which would you choose? Assume the comp is similar. The bonus varies from 10% to discretionary. Assume the ultimate goal is to own and operate a portfolio of small to medium multifamily real estate while working full time by day.
Asset Management - low income and market rate multifamily asset management. Company with several offices nationwide. Institutional type feel, about 100-200 employees.
Asset Management - Mostly market rate asset management heavily focused on a major market. Small team of around 5. Working closely with acquisitions team.
Analyst - investment sales and capital market transactions. Financial support for lead brokers. Boutique firm focused on major market. Entrepreneurial environment. Small team.
EDIT: Assume I am deciding between roles 1 and 3. Any insight?? Thanks!
2, depending on what type of transactions the broker team works on
What type of transactions would sway the decision towards the IS role?
Big ones. You could try providing a little more color, would help us help you
Is 2 all asset classes or just multi? If you're goal is multifamily then get into it when you have the chance. I would love to be with a small company that size of 5. You'll get tons of nuts and bolts experience as well and be involved more.
Just multi. The team is 5, but the company is much larger.
Go for #2... best experience and exit options
I'd lean towards 2 because there's a greater chance of being exposed to acquisition with how small the team is and with your ultimate goal in mind.
To note about your ultimate goal on owning MF properties as a side hustle, you don't need any commercial real estate multifamily experience to do this...
Go for whatever opportunity has the best team and where you'll learn the most. Additionally, go where you're going to be able to have a work-life balance that you can spend afternoons/nights and all day on weekends seeing 2-4 unit properties. Unless you have your realtor license, you're going to have to coordinate with one to see lots of properties. Ultimately, it comes down to learning your market and that takes actually seeing dozens of properties to learn what things you need to look out for. It also comes down to buying at the right price, because in 2017 there is no such thing as a deal on the MLS.
You also need a lot of money. If you're not living in the property you're going to have to put 25% down. If you live in it, you can put 3.5% + closing costs down.
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