Career Advice acquisitions and development analysis- New city, new career... new hire?
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[{"id": "g5k50t7", "text": "So to start, I know nothing about the market you are considering. But first and foremost, I would do research on the market. If it's strong and at least not collapsing, I'd say you're off to a good start.\n\nI just completed a job switch going from New Orleans to Massachusetts. The first thing I did was identify companies that fit my interest. I develop affordable multifamily and mixed use/mixed income projects. So, I made a list and literally tracked down emails of folks that worked in those places and asked to learn about their work and companies. \n\nIronically, while this didn't lead me directly to a job, it helped me learn more about the market on an \"insider\" basis. E.g. I was able to reference people's names and certain challenges specific to the market in the actual interview. By having these interviews I was also forced to practice telling \"my story\" of why I want to do development. It's good practice.\n\nULI is good in some cities but right now how much networking will realistically happen in a zoom webinar they might offer. I'd try to reach out directly and form some genuine bonds. Obviously it's tough right now so you'll have to be pretty relentless and just get yourself on the phone with folks.", "replies": [{"id": "g5kv3vx", "text": "Thank you for this response! Did you move after you had the job lined up?", "replies": [{"id": "g5kw370", "text": "Yes. I don't have the savings right now to float myself for a few months while I look.", "replies": [{"id": "g5ky9zy", "text": "Congratulations on the move and thanks for the advise!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "g5k5l5d", "text": "I\u2019m a little confused about your story. How long did you work in tax post-graduation before transitioning to resi sales? Did you go back to school after resi sales which led to the REPE internship? What city was the REPE internship in and how well-known is the shop? Trying to better gauge your age and prior work experience to cater my advice.\n\nRegardless of answers to the above, I think this transition is doable but obviously going to be a bit challenging given the current job market with Covid. As you mention, networking will be key. \n\nPrior to networking, I would really focus on getting your story down. You\u2019ve explained why you became interested in real estate, but you also need to be able to explain why Phoenix. Crafting a story that implies you\u2019ll be in Phoenix long term always helps as many companies don\u2019t want to take a chance on a young person with limited ties to a city, find out they hate it and move back home a year later. Whether it be family in Arizona, a significant other, or just a love of the city, describing it in a way that makes it sound like you\u2019ll be there long term will help. \n\nAs far as finding a job, did the REPE group you worked for like you? If so, asking your former manager if they can make any introductions to someone on your behalf would be the easiest part forward. If they don\u2019t have connections in the city, then the next step would be reaching out to younger folks at the types of shops you want to work at. I\u2019d focus on younger folks simply because they are more likely to respond and can still help give indications if a role might become available. If you really commit to this for 3-6 months, I\u2019m fairly confident you will be able to find a role.\n\nULI/NAIOP is definitely not a bad place to also do some networking but I doubt they are doing a lot of events in the near future with Covid. Typically both of these groups have meetings for young professionals, so I would focus on those. \n\nGood luck!", "replies": [{"id": "g5kux0j", "text": "I worked in tax for a year. I didn't go back to school. The internship was for an international REPE that worked with developers in the states. It's a small shop and not known in Phoenix. \n\nAbout a year at each job, so unfortunately I could be categorized as a job hopper but it is what it is and I will have to beat the stigma in job interviews. I'm 26 and I do not want to get a Master. I am totally against student debt and I'd personally rather intern for free then put myself 100k in the hole. \n\nI do have limited ties to the city, but I wholeheartedly intend to stay. It's not out of the blue. Since I live across the country do you recommend me moving there and living in a cheap apartment and networking from there or applying for a job away from the city? The general consensus is that you don't move without a job lined up but I'm not sure I'll be able to show my dedication to the city if I'm not there.\n\nThe REPE did like me, however, I don't believe they have connections to Phoenix. I will reach out to people. Thank you for your response!", "replies": [{"id": "g5le4in", "text": "Got it, figured you are fairly young but wanted to make sure you didn\u2019t spend 5 years in tax prior to making the career switch as that could change things a bit.\n\nI don\u2019t think job hopper is much of a concern, you have an explanation that is logical. Agree on the masters, while it could potentially help, I think of it as truly a last resort and don\u2019t think it necessary in this situation.\n\nIt will always be easier to network when you\u2019re living in the city you want to be in. Since Phoenix is a lower cost of living market, it could also make sense from a financial perspective and be cheaper than where you are currently living. That said, I don\u2019t think it\u2019s entirely necessary. I think networking will be especially important if you\u2019re not in Phoenix as applying with an out of state address could be an auto ding from some employers.\n\nAs for jobs, make sure you\u2019re checking all the real estate specific job boards including select leaders, RETS, adventuresincre, etc. I would also consider asset management roles in addition to acquisitions/development. While not as \u201csexy\u201d, I think asset management is actually a tremendous place to learn, even better than acquisitions. Given your position, as long as you\u2019re on the investment side, you\u2019ll be in a good place.\n\nFinal thought, stay very up to date on Phoenix real estate news. Through bisnow, the local business journal and whatever other applicable real estate sources you have access to, being conversational in recent transactions in the market will make your networking conversations much more fluid.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}]