Would working at a PM Company be valuable to break into CRE?

Question

I’m currently a Sophomore in College majoring in Finance. Would working a Property Management Company for 2 years be suitable for an Analyst position at CRE Firm?

I know the question’s broad just looking for a sense of direction and if that’d be suitable experience. Thanks for your time.

Bjorik Mutize · Answer

On the contrary, if you are working with a reputable PM company focusing on decent size commercial asset's, i think it is good exposure in my opinion. You are considered in the "biz" and will most likely have the opportunity to bump into other RE professionals than in another field.

It's a good consideration.

Megan T. · Answer

As someone who has worked as an analyst at multiple CRE companies and hired many as well

It helps you sell your story, but your major GPA and other relevant experience will get you in the door

Being a finance major is an excellent start. Double majoring or minoring in real estate would be a big plus, but I would keep with the finance major

As a sophomore you should be looking into internships at commercial real estate firms, especially small ones. Your junior year you will want to intern for a large REIT or something similar. This will set you up for a great start in the commercial real estate field

Alex Mao · Answer

@Gary Thompson

Hey Gary, you've gotten some good advice here but I'll offer a slightly different perspective.

I started off as an accounting clerk at a RE investment company, then shifted into their property/ project management division as an administrator. I then advanced into an analyst type role sourcing and underwriting deals and existing investments, then eventually progressed into portfolio/asset management.

I can tell you that nothing prepared me more for my analyst position than having the property management foundation. What set me apart from my peers was the hands on knowledge I had gained managing commercial buildings. It made my assumptions that much more accurate and detailed. Most other analysts gather data and go through a longer learning curve vetting what's generic in a market and what's specific to the asset being evaluated.

Long response short, if you went the PM route you won't regret it. And who knows, it may open up doors you didn't even know were available.

Ronald Rohde · Answer

Check our ACRE job boards, they have a lot of advice for career seekers.

www.adventuresincre.com

Bill F. · Answer

@Gary Thompson

Short answer No.

Longer answer: It all depends on how you tell your story. Do you want to go to the development side or RE Private Equity? Where also matters: the hoops you'll have to jump through to get hired at a bulge bracket firm are different than a local friends and family shop.

An Analyst is an entry level position, so they don't particularly care if you know all the ins and outs of RE . They care about a demonstrate ability to learn new skills, because that is what you'll be doing for the first year, work ethic, and interest in RE.

Joel Owens · Answer

Yeah little to no money in property management and lots of headaches.

I see starter analysts sometimes at 40k to 50k salary at the firms. It's KEY where you live though. 40k to 50k in GA for cost of living might be able to scrape by but in more expensive states that cost more to live might be really tough.

Greg Dickerson · Answer

Only if you want to get into Property Management. Otherwise your best bet is to work for a commercial investment and or development firm as an analyst.

Would working at a PM Company be valuable to break into CRE?

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