What was your path to a Real Estate Private Equity job? Looking for advice
After looking for many hours on the RE forum here, it's become clear that the career path into real estate private equity is not structured at all like the traditional private equity path. It appears people take many different routes but are still able to end up in the space. I'm curious to hear your transition into REPE, what stepping stones you've used, what you've enjoyed, and what you might change. Hearing diverse backgrounds would help me to decide what route would be most direct into the REPE space.
For reference, I am a junior finance major 3.3 GPA at a non-target University of [State]. This spring I've doubled up on internships, one at a small REIT and another for a small VC firm. Going into summer, I've interviewed at both a property management company for a sales-based role and a large regional bank for a credit analyst role in their real estate banking department. Given the choice, which would set me up for easier future success in the REPE space, preferably in an acquisitions role? What might be the logical next step looking into internships this next fall/spring?
I would appreciate any advice and am excited to read your career paths.
Got my undergrad B.A.in history. Came from a family where not many of us went to college, so i had no idea what i was doing. Landed a jobas a researcher at a major brokerage making $38k, basically writting office market reports and helping brokers make comp surveys Made friends with the brokers and got them to intro me to their clients/help me find a job on the ownership side. Was able to land an analyst gig with a regional developer. Lateral transition from developer to LP acquisitions team and have moved up the ranks since then.
Non-Ivy target B-school, undergrad GPA 2.9
Sophomore summer internship at LMM REPE. Started as a research intern, taught myself RE modeling and transitioned into an Acquisitions role. Did so well they kept me on the full year and gave me a 2x raise
Junior summer internship at MF REPE. Important to note that no MF REPEs recruit at my school, so this was a cold application through their website.
Got a return offer. Currently filling the gap by working at a boutique RE investment/development firm.
My advice to you: always be hustling. Don't take a break if you can't afford to. In my last 2 years of college, I went from a 1.18 GPA to a 3.8 (semester, not cumulative). I worked full time in the summers and part time during the school year just to get experience. Even once I landed the MF REPE job, I still didn't take a break because I know there's a good chance I might not be at the job forever. I'm making connections before I start that role so that there are doors open for me in case I get burned out or I'm looking to start a family with my fiancee earlier than expected. At my current role, I've been crushing it and already have an offer to work here after my term at MF ends.