Should I list a deal on my resume if the outcome was bad?
I started my job about a year ago and was staffed on asset managing an already distressed deal. My director and I ran almost 10 completely different scenarios trying to salvage the investment. Ultimately, nothing made sense and we gave the keys back.
I am networking and applying to associate roles pretty soon. Should I list this on my resume? On one hand, I learned the most while working on this deal, but on the other hand, it might be interpreted the wrong way and make me look bad. My other deals were nowhere nearly as interesting and were fairly straightforward. What do you guys think?
Yes of course. Anonymise the deal on your resume, highlight your areas of expertise, and in the interviews be honest that it failed but dress it up as what you learn from the failures and what you would now do differently
You learn more from failures than successes.
It sounds like you weren't in a decision making position on this deal, so there is no reason not to include it. In fact, it's probably a better inclusion than anything else, because you can speak to lessons learned and how to spot those red flags going forward.
I think the whole concept of listing “closed deals” on your resume is way overblown. Most people I’ve spoken to honestly don’t care as long as you can talk about the deal in detail , describe risks, pros / cons, etc
It's not overblown. If all you've ever worked on a deal is underwriting without ever closing the deal you have no experience of any of the following (excuse any UK centric terms)
If you have never closed a deal, you have a whole skill-gap in terms of your experience.
As I have gotten more experienced, the focus moves away from can you model to: have you negotiated SPAs, have you negotiated term sheets, have you negotiated JV docs, development docs, have you ever worked with tax advisors etc
At a junior level, say within your first year, these experience points are less important. But if you're looking to move up a ladder in terms of shop reputation, or up a ladder in terms of experience, you need to have experience.
Your worth as an acquisitions professional is not whether or not you can change rents, rental growth or exit yield on an excel spreadsheet. It's in being able to buy an asset in such a way that you close out, or largely mitigate, your risk.
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