Hi RE Forum, need some advice from seasoned RE professionals.
I'm currently in my second year as an analyst for a small REPE firm. It's a boutique shop and most of our capital comes from high net worth individuals. We focus on value-add, distressed office and retail assets across the US.
Over the past year or so I've gained some experience in underwriting new deals, but mostly analysis and. After speaking recently with my supervisor it appears that the firm wants to develop me into an asset manager. While it's great that they're planning to develop me further, I got into the business with more interest in acquisitions. I didn't get as much deal-making experience in my first year due in part to the size of the firm, and with cap rates where they are today our deal volume has been on the lower end for value-add assets.
At the same time,attractive too. I personally place quite a bit of value on the ability to successfully managing distressed assets (we're return junkies), and the guys here are authorities in that area. I enjoy my team here and have so much more to learn from them, which I don't take lightly. I also observed that asset management tends to be a more stable role than acquisition, where demand for analysts is determined more or less by market.
I'm now wondering whether I want to stay and develop into an asset manager or try to find an acquisition position elsewhere. To the experts here, what is your outlook on the future of these two roles? There's got to be a correction coming and I see asset management being more in demand with higher stability when the time comes, but my understanding could be flawed. Also curious as to how easy it is to go from one role to the other should I decide to make the switch.