Conflicts of Interest

I’m gonna keep this fairly brief and vague but I’d like to get some monkey input on this as I’m not sure how to proceed. The context is that I currently work for a large brokerage firm (JLL/CBRE/Eastdil/Cushman) on a team that specializes in a niche product type (think manufactured housing/student housing/senior housing). As such I have access to a ton of data and transaction level info.

I have a family member that has asked me to consult for them so they can pursue this kind of investment opportunity. Basically I’ll be doing all the leg work (underwriting, finding the deal, helping with the development process, etc). I’ve agreed to help as this would be great experience for me to leverage however I don’t know if this is something I need to disclose to my firm. I am earning an hourly wage for this work and I’m afraid that if I tell my firm about this project they’ll come in with a bunch of restrictions or tell me flatly that I’m not allowed to do it.

I’ve already told my family member that transaction level info is confidential and everything that I provide will not have details that can’t be found outside of public sources. But I’m still using my firms tools and data sources to help with the project... Any insights would be appreciated!

 

I wouldn't tell anyone about this if I were you. I would just flash drive the data materials/comps you need and do the underwriting for this on your own time on a separate computer. The big brokerage shops are not tracking each individuals access of data off Axiometrics, CoStar, RCA, etc... plus it costs them nothing for your download it considering they are already paying for your license/unlimited usage.

 

EVERYONE in the brokerage business does this, you are definitely not alone. Technically speaking it's a legal no-no, but you're fine. I wouldn't tell your shop about the side hustle...no need to bring unwanted attention to what you are doing. While any company certainly has the ability to monitor your email at will, they aren't doing it at these big brokerages unless you are causing a specific issue. Get that bread...

 
Most Helpful

As others have said you'll be fine, but to avoid attention:

  1. Do not name the files you're creating / transferring anything that would look suspicious. If you're researching 120 Broadway, but that has nothing to do with your team, DON'T name it 120-broadway.xls (esp if it's in a folder someone else might see).

  2. Clear your log files. Assuming you're on Windows, Start menu > Control Panel > Administrative Tools > Event Viewer > Security will show each time a removable storage device connects and disconnects. If you don't have access to this, then your IT dept is savvy enough to know you're grabbing files (they just don't care). The system records the USB stick's serial number AND the file names transferred. Which brings you back to #1.

As maineiac42 said,

> Do it outside the office on your own computer using your own software and your own research logins and keep your mouth shut.

Definitely don't do any analysis company computers / software.

“Doesn't really mean shit plebby boi. LMK when you're pulling thiccboi cheques.“ — @m_1
 

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