Working for multifamily GC
is working for a GC right now as an APM or PE good right now compared to working a traditional role in real estate?
Construction costs are still up there but there's building still happening, I'm sure to a lesser extent since no deals are getting closed. Is it crazy to leave construction for a development role right now? Not hearing a ton of new deals get completed.
Most people don't really have that as a decision. You are either better suited for one or the other. If you are suited for the work, you will do well at it.
GCs are slowing hard right now considering the lack of deal flow, you'll be in the same boat in a year or so. Also from a from a future earnings position you're way lower on the pay scale unless you're truly a ripper at the job.
They drink from the same stream you do but a little ways down. If you're having a bad time, they're gonna get smoked. Pricing's dropped from last year like 3-5% in my area from what I've heard.
I'm thinking it might be better to hold onto the GC gig if there's work for another year or so, rather than jump ship to a development shop that may or may not have a slow pipeline for a good portion of this year.
Don't stay at a GC longer than you have to. Experience has diminishing returns if your goals are in dev/any other real estate finance imo.
What do you mean by “good right now”? That depends on what your goals are and what you want out of your work. I would bet a lot of those GC’s are just as stressed and worried as some developers, so I don’t think that would be the case.
i'm referring to the time lag experienced since all the projects need to go through pre-construction until breaking ground. basically what the above commenter has mentioned.
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