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[{"id": "hp5hxrj", "text": "Definitely is a good foot in the door as a lot of shops would value your understanding of UW, deal process, waterfall structures, etc. Question  is why would you want to leave multifamily? In terms of deal flow, there\u2019s not a better sector outside of industrial right now. That said AM vs acquisitions in any sector really just depends on what you want to do. Is sourcing, pitching, and UW on a deal team exciting to you or would you rather construct business plans and drive value in AM? No wrong answer and is generally pretty straightforward to go from one to another within a sector. That said, if moving from multi to AM in office or industrial, I\u2019d imagine you\u2019d need some Argus experience to be competitive", "replies": [{"id": "hp5i5y6", "text": "But I\u2019d say most people in multi REPE are committed to multi- myself being on of them. Is the same for folks in the brokerage, debt, management, and development sides as well", "replies": [], "depth": 2}, {"id": "hp6qu7r", "text": "Agree that if you want to be on the acquisitions/asset management side, take the acquisitions role regardless of property type. In an ideal world, starting in commercial would probably offer more optionality later and an easier path to multi roles than vice versa, but not impossible. Argus really isn\u2019t that hard, it\u2019s the lease structures that take some time to grasp.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hp5uvra", "text": "I have run the gamut from multi family management to retail and industrial acquisitions and I can tell you that industrial looks down on multi family often in a big way. It\u2019s to the point where my company won\u2019t hire a person if their only experience is in multi family and if they do, it\u2019s not for site acq. They may hire a multi family person for a coordinator role.", "replies": [{"id": "hp6qz6b", "text": "It\u2019s a box in a field, tell your shop to relax lol", "replies": [{"id": "hp7bx5k", "text": "Except the fact that it\u2019s not. A lot of people just assume that\u2019s what it is and that\u2019s why those industrial groups (mine included) tend to ignore multi fam people when they apply for jobs.", "replies": [{"id": "hp7fnga", "text": "Is that because of the more complicated lease terms/inherent differences in management due to that?", "replies": [{"id": "hp8r6uu", "text": "The lease terms can be more complicated, but overall the process is just much different from acquisition, entitlements, development, and lease out. It's a much longer discussion than a reddit thread should/could encompass. If you want to DM me for a longer conversation, feel free.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hp6bwcf", "text": "With an acquisitions role comes the inherent mastery of market dynamics but also asset management. AM is the meat and potatoes of your as-built product. Mastering the different lease types in multi, industrial, office etc.. is critical to understanding who the customer is for those various types of leases and how you will help the company drive those customers to your product.\n\nLooking at it that way my initial choice might be to target an acq role based on one of the longer lease asset classes. Market, employment, demographics and demand drivers often have overlaps with multifamily even though MF has a very specific customer and lease type.\n\nRunning a portfolio of office is completely different that running a multifamily portfolio in terms of capital strategies, ongoing maintenance, leasing, tenant relations. So, on the acquisitions side, I believe you'd have a broader base of knowledge coming in from a more commercial view and moving laterally to multi if desired. It's also very easy to get training on the multi side in terms of understanding the product, the leases and the customer.\n\nDevelopment is a different monster, so you'd have to figure out which niche you are talking about..merchant, build to hold, land banking, land development. All will have various approaches that model out the end usage but also have particulars that an as-built acquisitions person may never think about. I could be wrong but I'd initially take care not to lump a general as-built acquisitions role and a development acquisitions role together as if they are the same.\n\nSquid made a comment about industrial developers looking down on people with multi backgrounds ...In a sense, I can see that considering acquiring, entitlements, site prep and construction of a tilt-up or steel frame building might be totally different than the process for developing and constructing a wood frame garden or podium type building for residential. I wouldn't want a sticks person in charge of making decisions on my concrete and steel project until he or she were competent.\n\nHope that perspective helps a little.", "replies": [{"id": "hp7d7f1", "text": "This is exactly what I was trying to convey, albeit in a much more flippant and ultimately no helpful way. Thank you for clarifying what I meant.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hp6pmtl", "text": "Why would you leave multifamily to take a step down / lateral move and delay advancing your career after already succeeding in a highly desirable career track.", "replies": [{"id": "hp88ei7", "text": "More so just asked out of curiosity how easy it is for someone to transition to different property types after having started a career in one of the more desirable roles", "replies": [], "depth": 2}], "depth": 1}]