Target school, Property manager, 4 months in and realizing THIS AIN'T IT.
Experience: Target school, 2 cre internships - 1 buyside (REPE retail, around $10B AUM, not many transactions during internship), and the other with the property management company I currently work for. less than one year exp.
The reason I took this job is because I figured I would be able to wear many hats and interact with different asset managers/clients. Which is true. Work has been great, hours are chill, boss is cool, however I feel like I'm getting underpaid (55k-65k, no bonus) and not using my full potential every day at work. I enjoy interacting with different contractors and clients, but I do not see myself doing this forever. I currently co-manage a portfolio of about 2.5M sf of retail space. We have a mix of institutional and entrepreneurial clients over 10 different properties. Some of the property values are as high as $150M so I'm getting great exposure to institutional-level properties. While I do get experience using different accounting software and learning the RE business from the ground up, there's not transactional experience.
I say this because I want to eventually move to the buy side and start bringing in my own deals for a firm while also getting transactional experience (rudimentary modeling skills as of now). I'm very interested in RE. During the outbreak of the pandemic, when I was virtual for school, my buddy and I bought an apartment for around $200k (using his dad's money for most of the equity), put $5k in renos and rented for a solid rent with great return metrics. My friend and I also were able to buy and flip a house, netting $46k in the process, after fees and all we each split the $46k and bought back his dad's remaining equity in the apartment and kept some cash.
Will staying in property management for two years give me a leg up on the competition as I will know how to run a property like the back of my hand? Or will I be mortally retarded when looking for my next job? Was thinking I could blend the PM experience and take some modelling courses on the side to balance out my experience. Thoughts?