Junior pupil looking for occupation/training suggestions (Dallas) – Rating: 16

7 thoughts on “Junior pupil looking for occupation/training suggestions (Dallas) – Rating: 16”

  1. An entry level CRE analyst typically spends 2-3 years in a sad cubicle solely crunching numbers the first year and then getting crucified on a regular once you get the opportunity to get exposure to how CRE actually works. The pay typically isn’t all bad though.

    Unless you have an exceptionally pretty face and know exactly when to open your mouth, you won’t have any genuine, meaningful client interaction for at least 5 years. **Keep in mind that CRE investors will have zero interest grooming you into becoming their competitor. Zero.**

    Becoming the manager/director of acquisitions occurs in your mid/late 30’s if you are truly exceptional at your job or work at a place that awards job titles in lieu of salary increases.

    Regarding the market “bouncing back” in 2022, that really depends on the definition of where “back” is specifically. The Dallas market (my hometown) will experience less of a dip than other parts of the US, but the Dallas market isn’t as lucrative as it may appear to be due to the low cost of real estate.

  2. Go into multifamily especially in Dallas. For what side of the deal you want to be on, that’s your own preference. Brokerage is what guys like JLL, CBRE, and the like do, and they’ll take guys straight out of college. Because you’re a junior I’d start reaching out about maybe interning with them this summer (apps just opened). For multifamily brokerage, long story short, all the shops line up when somebody goes to sell a property and basically pitch to the owner why they should be the company picked to represent the seller. The market research usually done for this and offering memorandums is where you really learn the market as an analyst. There’s massive commission $ to be made here (can vouch for the big shops in Dallas-the power brokers absolutely kill it and they pay their analysts very nice bonuses generally from my experience). You don’t see many people moving around or leaving the CRE shops like some people in accounting do with big 4 firms or similar type positions so I think you’re making a good choice.

  3. I have been in the CRE brokerage industry with a focus on retail for almost 30 years. I am the owner of a CRE brokerage firm in SoCal. Brokerage is a great platform for achieving a lot of financial success and eventually leading to investing opportunities. Most brokerage firms do not advertise that they are looking to hire people because it is just so time consuming to deal with all the applications (of which 95% are not qualified), but most owners/managers of brokerage firms will gladly engage in dialog with a potentially qualified individual who reaches out directly to them. A well written email explaining your interest in an informational interview should get you a response. Do this enough time and you likely can get a good internship either while you go to school and/or during the summer. I have a great relationship with one of the leading CRE Retail firms in Dallas. If you want an introduction, send me a DM and I will do a quick intro.

  4. Have a 4 year finance degree, but am working on a CFA charter and and an MS in investment management and financial analysis.

    To be honest, I got lucky. Out of school I landed a job as an analyst on the private equity side of acquisitions. The jobs exist, just be patient. This isn’t even what I was looking for at the time honestly but needed some sort of investment experience with the CFA charter pursuit. Be patient, network, and interview well.

  5. I did this and started at a retail/multifamily private equity fund focused on value add and ground up development.

    It’s going to be tough to start on the principal side right out of school. Buy side usually wants to see several years experience first. Gotta get lucky. Your best bet is to target an analyst role at a brokerage or in investment banking and transition 2-3 years down the road.

    I disagree with the guy who said to start in a financing/capital markets role. It’s easy to get pigeon holed there, and you don’t get a holistic understanding of the investment thesis and the strategy behind structuring the equity side of the capital stack.

    In terms of your long term career goals, don’t try to plan so far ahead. Plenty of people think they want to be in acquisitions forever but burn out and move to a cushier job in asset management or research.

    Going out on your own in the long run is the goal of EVERY SINGLE PERSON that goes into the industry. It’s a good goal to have but always remember that very few people are ever able to successfully do it, so be sure real estate is a career you’re willing to work in under somebody else if it doesn’t pan out that way.

Comments are closed.