Side Job In RE Development
Has anyone run development projects on the side - either own equity or fee service - while working full time for a development firm? Was this how you started your own firm?
Curious how you managed it without affecting your day job - if it’s even possible.
My day job is a development manager for retail projects, but I have 2 opportunities to help former colleagues out with managing their residential development projects at an hourly rate. My end goal is to go out on my own, so this could be my start at developing as a service, then move into my using my own equity/raising capital. But I wanted to see if anyone else has done this and how they managed to separate the day job and side gig.
I should add it’s a different asset type and different market, so it’s not like there’d be a conflict of interest.
I’ve moonlighted working for a development focused mezz fund before; but not managing the project day to day. I was spread pretty thin between my day to day job in acquisitions…
At the end of the day it depends on how much time you have on your hands. I definitely consider it if you’re looking to take the more entrepreneurial path to starting your own shop, but in my experience, burning the candle at both ends is unsustainable, so I would look at it as an opportunity to see how the sausage is made at a smaller shop running deals from soup to nuts.
My 2¢.
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