What is your focus each day in order to improve where you at in your career?
Is it specially related to development and learning construction? Modeling (being a monkey), learn the finance side of things or is it knowing how to source deals?
Also - what do you do each day to achieve your goals?
How can someone learn at least one new thing everyday at work without getting caught up in your day to day job?
| +46 | Major Decisions | 7 | 7h | |
| +31 | Yes Another Comp Thread | 29 | 2h | |
| +29 | LP coming into deal at higher land basis. How to model returns to GP? | 10 | 1h | |
| +28 | Niche down to an operator or stay an allocator | 9 | 5h | |
| +24 | Breaking into CRE late 20s | 7 | 1d | |
| +24 | Target Return for Spec SFR Development? | 8 | 2d | |
| +20 | Doom Loop or Creative Urban Reemergence? | 3 | 3d | |
| +19 | Self Storage ECRI | 8 | 8h | |
| +18 | 3 Hour Condo/Rental Excel Test - What Can Be Expected | 2 | 1d | |
| +17 | What do you RE folks think? | 7 | 5d |
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In my day job, I'm making sure we have a large pipeline. It's much harder for developers to cut staff when there are projects under construction ;)
Outside of that, I'm continuing to look for, talk to, and research developers who put additional effort into what they create. That could be tech innovations, heavy timber or other new construction methods, a focus on beautiful design and architecture, sustainability, "what office will look like post-pandemic," or anything else that goes beyond the merchant builder strategy of VEing everything interesting out of a project.
Just two weeks ago I had a great talk with a company from the Netherlands about how they approach design as well as a local developer who talked about how developers can help the communities they gentrify through job training and hiring workers specifically from the neighborhoods the projects are build in.
Sending you an email in a few minutes
5 years ago I used to practice how I sounded on conference calls, practicing with Voice Memo on my iPhone. Since I’m naturally not a talkative person.
Respect
I spend my time on passion projects, whether that’s facilitating relevant discussion on RE in networking groups, speaking to students looking to break in, or connecting people with resources or mentor-figures. These are all soft-skill activities as that’s an area where I’m lacking and in. However, before I landed my FT role I spent countless hours practicing financial modeling/Excel to represent myself as a technically capable analyst.
It’s all about where you are in your career path, and which skills are more useful in the present moment. Earlier on it’s better to be the number cruncher/analyst, later on it’s better to be the relationship cultivator and people-resource. Though of course YMMV depending on what you do.
It's not much but i try to stay very current on major political and economic events, especially with everything going on now.
Other than that, it's easy to get complacent in your job and put networking on the backburner. I try to reach out to one person a week to just chat high level what they are seeing in their respective industry or market and their outlook moving forward.
Currently I am trying to transition more into the acquisitions / originating team. I'm currently a financial analyst and I want to get more into touring assets, raising capital, and getting more involved in the origination process.
I am extremely extroverted so modeling all day at my desk gets boring at times. (I don't mind modeling at all, rather I kind of enjoy it, but all day it does get old)
Out of my "day job" I am working on starting a real estate syndication business plan. I hope to have my first deal close Jan 2021. I'm only 22 so it is very hard to ask random people for money, So, I am going to have to front a large amount of my own equity. My goal is to have my first few deals to go well so I can get a bit of a track record going!
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