Property Manager looking to break into Asset Management
 I have about four years experience in multi-family. This past year I managed a condo deconversion which required management of the construction team as well as constant updates to ownership. There was quite a bit of agency that I had over the process. 

I love the project management, financing, and budgeting that is required of the job. I hate dealing with the residential tenants, too much drama and time wasted for me. 

Really I don't know much about analysis or CRE, have a bachelors in psych (I know), have gotten praise from the equity guys who own/invest in my building. Where do I go from here?
[{"id": "icrzcpl", "text": "I\u2019d start with sharpening your excel skills quite a bit, and then trying to either get an MBA (maybe overkill, but depends at what level you\u2019d like to be an AM for)  or really jumping into some courses about commercial real estate finance and financial analysis in general. You need to get your hands on an acquisition model and understand all the assumptions that make the model tick. Also, you really need to understand the capital stack as a whole - both the equity and debt sides. Which means understanding what specific return metrics are relevant to either side, how they relate/overlap, where they are different... etc.", "replies": [{"id": "ics18b4", "text": "Perfect. This is super helpful. I'm looking into MBA programs, but was thinking about a REFM course. \n\nDo you think it would be too bold of me to ask ownership about their acquisition models? \n\nThanks!", "replies": [{"id": "icsqq5d", "text": "You should be able to pivot with an MSRE which is way less competitive and way cheaper", "replies": [], "depth": 3}, {"id": "icsslw8", "text": "I\u2019d start out with A.CRE models, there really is plenty to on there. For Multifamily, a lot of groups use proprietary models that they aren\u2019t always keen on sharing", "replies": [], "depth": 3}], "depth": 2}, {"id": "icsjj2m", "text": "Lots of good advice here.\n\nI started out as a porter and now multifamily AM.  An MBA in real estate finance would be great, but not necessary - I don\u2019t have one. \n\nHaving your background in operations gives you a big advantage, especially when breaking in.\n\nYou will start as an analyst, so Excel skills are key.  A.CRE has some really good modeling courses.", "replies": [], "depth": 2}], "depth": 1}, {"id": "ics2rq7", "text": "I honestly wouldn\u2019t bother with extra formal education. You\u2019re certainly qualified enough to go be a project manager at a development shop or value add multifamily buyer. \nOk-Paper is spot on that you need to learn more about the financing aspect - but, if you can do a crash course enough on your own through YouTube for a couple of weeks so that you\u2019re conversational, you are 90% more qualified than most finance guys because you have A) actual experience running an actual property; and B) actual experience running a construction project. \nThe finance stuff is the easy part. \n\nSource: this is what I do for a living", "replies": [{"id": "in82n9r", "text": "What does the Day to Day of an Asset Manager look like? Are you behind a desk a lot?", "replies": [], "depth": 2}, {"id": "ixia24f", "text": "How can you pivot from a GC or sub? Do you think working conditions are better?", "replies": [], "depth": 2}], "depth": 1}, {"id": "icthm8s", "text": "My suggestion is start applying for jobs! I would think a perfect situation would be you work with an experienced Asset manager who needs help with the portfolio that will teach you, you already have a great background to transition and are clearly motivated and interested, that\u2019s half the battle. I wouldn\u2019t sell yourself short, do what you can with YouTube and podcasts to learn, apply for jobs and go be confident you\u2019ll be successful!", "replies": [], "depth": 1}, {"id": "icu1ass", "text": "Are you willing to move to Austin? If you or anyone reading this is, send me a DM I\u2019m looking for both an Asset Manager and an Asset Management Analyst to join my team working in workforce Multifamily", "replies": [], "depth": 1}, {"id": "icunmzt", "text": "Try the REFAI certification. I\u2019m taking it now and it was recommended by some guys at NorthMarq and USAA Real Co. it\u2019s a great combination of textbook, excel skills, and real estate specific analysis.", "replies": [], "depth": 1}, {"id": "icvduel", "text": "Good comments here. Also check out IREM's Asset Management cert which may be perfect for PMs moving to AM.", "replies": [], "depth": 1}]