Big4 CPA considering career switch to commercial RE
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[{"id": "hzcmwvm", "text": "Step #1: get on some audits of real estate companies, either REITs or PE's. Step #2: look into transferring into the real estate consulting or transaction practices. All Big 4 have dedicated real estate practices. Step #3: transfer to industry if you are not enjoying consulting/strategy practices. This way you won't need to take as much of a step back in your career journey.", "replies": [{"id": "hzcopg4", "text": "Thanks so much!", "replies": [{"id": "hzfssyg", "text": "I know plenty of people that went this route. Audit to advisory (either real estate m&amp;a or real estate DD teams) and then went on to other roles with in the industry (of the people that did this, roles a few years in include fund managers, asset managers, a COO for a major lister RE company, RE brokerages and more)", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hzcyus7", "text": "Build up some savings, if you haven't already. your income will go down in the short run.", "replies": [], "depth": 1}, {"id": "hzd9hqq", "text": "Hello!\n\nI have a similar background to you. CPA who's done cyber (IT Audit) and does accounting in CRE currently. \n\nWhat in CRE interests you? Do you have a network to tap to get in?", "replies": [{"id": "hzf76mo", "text": "I think the ability to always work on new deals/clients seems really attractive to me. I also feel like there is also more earnings potential (Maybe?) \n\nAs of now I have zero experience in RE but am rapidly trying to build out my network thru LinkedIn. Currently just trying to meet and connect with as many people as possible to get a sense of where I might fit in. \n\nDo you think Im missing anything? Anything else I should consider?", "replies": [], "depth": 2}], "depth": 1}, {"id": "hzdk3zf", "text": "Feel free to message me, I was big4 audit til I made senior and then left for an investment analyst position. All my clients at big4 were CRE funds/REPE and I spent the vast majority of my time working on valuation (verifying appraisals, cap rates, etc), acquisitions (familiarized myself with underwriting models), and tearing apart Monthly Operating Reports (digging into operations - great experience for budget variance reporting and financial reporting in general). I work in a lean shop where I get exposure to essentially every aspect of the business, and have strong feelings about what skills translate well, what don\u2019t translate at all, and what I wish I would have focused on more before leaving.", "replies": [{"id": "hzf7aoe", "text": "That\u2019s exactly the type of role I\u2019m looking for! Will definitely reach out!", "replies": [], "depth": 2}], "depth": 1}, {"id": "hzdycl0", "text": "What about becoming a Controller for a RE company?", "replies": [{"id": "hzf77ni", "text": "Ehh. Don\u2019t want to work in accounting forever.", "replies": [{"id": "hzg2kgk", "text": "Right, but that\u2019s your entry into the RE world. See if you like it from an accounting perspective and then express interest in learning the RE side of the business.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hzfbrx0", "text": "You definitely have a good story with a CPA background and documented effort of improving skills/learning the industry. What do you want to do? What asset classes interest you, I.e. office, apartments, industrial, etc? Do you want to source/UW/pitch deals in an acquisitions role or draw up business plans as an asset manager, UW debt, produce debt, or even sell/lease as a broker? My compliant of many people wanting to get into CRE is that they typically view the industry with a huge scope, when in reality it\u2019s very specialized. I wouldn\u2019t necessarily zero in on an asset class in your case, but find out what you want to do role-wise and really dig in on honing your skills/network for that position. The great thing about the industry is it\u2019s very people-oriented and almost everyone in lucrative roles is production-oriented, so putting yourself out there is a good path to being rewarded. Can somewhat relate to your situation- I work on the REPE side (multi family) and before worked in debt. Wasn\u2019t the easiest path with a Poli Sci degree", "replies": [], "depth": 1}, {"id": "hzqn04z", "text": "Thanks so much for the great response! I think my goal is to get into an acquisitions type role, however I\u2019m not sure how picky I should be considering I am still trying to break into the industry. Would you recommend waiting for a role in acquisitions or would you consider accepting another type of position just to get into the industry first?", "replies": [], "depth": 1}]