Mid-career repe to development
This topic is covered pretty extensively here, but mostly from the junior side.
I'm a mid-level acquisitions guy (~8yrs of experience) at a repe fund that is pretty hands-off of deals (we JV everything). I'm interested in moving to a development firm in a combined role (acq + dev mgmt). Motivation is I want to actually build stuff vs just doing deals/the financial side, though I do still enjoy that part.
To be more specific, I'd like to be more involved in the design and construction of the buildings. And interface with the architect, GC and consultants versus just our development partner, who then does all of that.
My problem is I'm probably too far along in my career for a lateral move to be realistic. I won't add value on the project management side as a development manager and it's too big of a pay cut to go any lower than that.
What are the best options here? I'm thinking maybe try to find a pure acquisitions/capital markets role at a development firm and so even if I'm not the point person on the projects, at least my firm is and by extension I'd be closer to the action. Reasonable? Otherwise I could wait and try to do some small projects on my own (flip houses, etc.) but the problem there is it becomes extra work on top of my day job, where I'm more interested to change my day job. Curious if others have been in this scenario and what they've done.