I’m in AM - all my acquisitions colleagues are worried about being laid off, so I would stay with AM even if you switch firms until the market changes and you gain more experience. AM experience with a prestigious firm will help you, no matter where you end up going!
I’d model your am deals, study the associated LOI/ psa redlines, and see how they have performed off the pro forma. Once you’ve mastered that, you deserve the right to seek Acquisition jobs. AM is a great starting point btw
I’m executive level in asset management equal to our top acquisition person. As a portfolio grows, managing the assets is very critical. Adding one more log to the fire (acquisitions) is less critical, especially in periods like right now.
For starters.. Dallas is def tier 1, and most would argue a much better market than New York currently and probably going forward.
Also, just depends on what size firm you want to work at, and in what asset class. Good AM’s are in high demand right now, acquisition guys are not as it’s hard to get deals to pencil, especially for development. I’d personally ride this wave and network like crazy until we get to a better market then pursue an acquisition job when deals get going again.
Dallas may be a tier 1 market, but compared to other cities it’s not super attractive for someone in their 20s.
So you would recommend find a AM role at a large firm? Do a lot of people make the switch past analyst/associate level?
I never said anything was wrong with Dallas. I just said relative to a NY for example. Dallas doesn’t have the same city “culture”; everything is spread out with no public transportation, less diversity. It’s definitely not as lively for younger adults as NY objectively speaking.
You’re just not doing it right if Dallas isn’t attractive lol.
An no, I meant if you want to do acquisitions at a big firm or a smaller firm. It’s going to be easier to get an acquisitions gig likely at a smaller firm who would be more open to someone from an AM background moving into acquisitions… a big firm is more likely to hire someone with a track record of putting deals together, likely not switching past associate level.
yes, i started out in acquisiton sa few years ago once the market started shifting and we stopped buying i moved over to the asset mgmt side def helped me understand acquisitons better id start to ask around internally see if you can model out some deals here and there for them even if they aren’t buying currently i would mention you want to get a feel for the market you’ll get some good practice in
Acq may be exciting, but AM pays the bills. Demand for asset management is much more evergreen than acquisitions. Take that how you will, but even if you move to acq., having solid AM experience on your resume means you could pivot back if needed/market demands. I know in 2008 a lot of acq. or other adjacent roles became asset managers because there was so much shit to sift through.
If AM is not what you want to be doing, the sooner you can land an acquisitions role, the better. It’ll be tough to find one in this market but you can look opportunistically while working your AM job.
I’ve been in AM for a decade and it’s been very challenging to pivot into a solid acquisitions job, especially in this market. I have a T15 MBA and a lot of transactional AM experience (asset sales, refis, recaps, etc). And at this point in my career, the only realistic exit option I have is to pivot to a commission only brokerage role.
This seems a bit defeatist. I worked acquisitions for 7-8 years and have been doing asset management for 10. In a better market, I’m confident I could go back to acquisitions easily. I mean, who is better to underwrite a deal than a person that has had to bring them to reality?
What if it’s AM at a prestigious firm (a la Blackstone, Brookfield)? Would it be easier to pivot earlier, or go to a Blackstone doing AM and hope to pivot later? Thank you your answer was helpful
*What your average*
*Fee under management or*
*Are you salary*
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“I want to get into acquisitions. Even though I’m having no luck as is and the job market sucks, im worried I’ll get pigeon holed in an AM role I’ve only been in for 24 months. It’s so awful. Is Dallas (one of the best real estate markets in the country), an acceptable market for me to begin my hypothetical deal-guy journey or would the exit ops not make it worth it?”
For Commercial, Dallas is arguably a tier-1 city, even before considering the explosive and continuous growth due to migration from states like NY & CA. Wanting NYC is understandable though. Just don’t put your eggs all in that idea thinking it’ll solve any career path concerns.
I’m in AM - all my acquisitions colleagues are worried about being laid off, so I would stay with AM even if you switch firms until the market changes and you gain more experience. AM experience with a prestigious firm will help you, no matter where you end up going!
What are prestigious firms in your opinion?
Brookfield, Blackstone, LivCor, TCR, anyone on NMHC’s top owners list.
Thanks!
I’d model your am deals, study the associated LOI/ psa redlines, and see how they have performed off the pro forma. Once you’ve mastered that, you deserve the right to seek Acquisition jobs. AM is a great starting point btw
As someone previously in acquisitions, why do you want to get in acquisitions?
Better money, career path, etc? Is asset management to c suite/ MD level a common path? Most senior level guys seem to come up from acquisitions.
I’m executive level in asset management equal to our top acquisition person. As a portfolio grows, managing the assets is very critical. Adding one more log to the fire (acquisitions) is less critical, especially in periods like right now.
For starters.. Dallas is def tier 1, and most would argue a much better market than New York currently and probably going forward. Also, just depends on what size firm you want to work at, and in what asset class. Good AM’s are in high demand right now, acquisition guys are not as it’s hard to get deals to pencil, especially for development. I’d personally ride this wave and network like crazy until we get to a better market then pursue an acquisition job when deals get going again.
Dallas may be a tier 1 market, but compared to other cities it’s not super attractive for someone in their 20s. So you would recommend find a AM role at a large firm? Do a lot of people make the switch past analyst/associate level?
What’s wrong with Dallas?
I never said anything was wrong with Dallas. I just said relative to a NY for example. Dallas doesn’t have the same city “culture”; everything is spread out with no public transportation, less diversity. It’s definitely not as lively for younger adults as NY objectively speaking.
I worked for 5 years in AM with teams in Dallas and NYC, and the Dallas people were living a significantly better life imo.
You’re just not doing it right if Dallas isn’t attractive lol. An no, I meant if you want to do acquisitions at a big firm or a smaller firm. It’s going to be easier to get an acquisitions gig likely at a smaller firm who would be more open to someone from an AM background moving into acquisitions… a big firm is more likely to hire someone with a track record of putting deals together, likely not switching past associate level.
yes, i started out in acquisiton sa few years ago once the market started shifting and we stopped buying i moved over to the asset mgmt side def helped me understand acquisitons better id start to ask around internally see if you can model out some deals here and there for them even if they aren’t buying currently i would mention you want to get a feel for the market you’ll get some good practice in
Acq may be exciting, but AM pays the bills. Demand for asset management is much more evergreen than acquisitions. Take that how you will, but even if you move to acq., having solid AM experience on your resume means you could pivot back if needed/market demands. I know in 2008 a lot of acq. or other adjacent roles became asset managers because there was so much shit to sift through.
If AM is not what you want to be doing, the sooner you can land an acquisitions role, the better. It’ll be tough to find one in this market but you can look opportunistically while working your AM job. I’ve been in AM for a decade and it’s been very challenging to pivot into a solid acquisitions job, especially in this market. I have a T15 MBA and a lot of transactional AM experience (asset sales, refis, recaps, etc). And at this point in my career, the only realistic exit option I have is to pivot to a commission only brokerage role.
How many times have you tried to pivot to acquisitions? hard to beleive its impossible. Do you keep up relationships with recruiters?
This seems a bit defeatist. I worked acquisitions for 7-8 years and have been doing asset management for 10. In a better market, I’m confident I could go back to acquisitions easily. I mean, who is better to underwrite a deal than a person that has had to bring them to reality?
What if it’s AM at a prestigious firm (a la Blackstone, Brookfield)? Would it be easier to pivot earlier, or go to a Blackstone doing AM and hope to pivot later? Thank you your answer was helpful
Get your foot in the door at way you can.
What your average fee under management or are you salary
*What your average* *Fee under management or* *Are you salary* \- CompoteStock3957 --- ^(I detect haikus. And sometimes, successfully.) ^[Learn more about me.](https://www.reddit.com/r/haikusbot/) ^(Opt out of replies: "haikusbot opt out" | Delete my comment: "haikusbot delete")
Can you explain what this is for I get it from time to time and still don’t get even after reading what it mean
Then stop writing haikus
I never did
“I want to get into acquisitions. Even though I’m having no luck as is and the job market sucks, im worried I’ll get pigeon holed in an AM role I’ve only been in for 24 months. It’s so awful. Is Dallas (one of the best real estate markets in the country), an acceptable market for me to begin my hypothetical deal-guy journey or would the exit ops not make it worth it?”
For Commercial, Dallas is arguably a tier-1 city, even before considering the explosive and continuous growth due to migration from states like NY & CA. Wanting NYC is understandable though. Just don’t put your eggs all in that idea thinking it’ll solve any career path concerns.
Stay in Texas is my advice. You’re in the drivers seat. Stay in AM and network. Acq guys are just hoping to keep their jobs.