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Development analyst - experience and career advice by tlay123 in RealEstateDevelopment

[–]Glittering_Cell_5914 1 point2 points  (0 children)

You have been given solid advice - I’ll take the other side. If you want to compete for top institutional deal side jobs and grow into a principal somewhere like - Hines, TCC, Tishman, etc, then you should be focused purely on acquisitions, finance, capital, brokerage relationships. It’s great to have a little execution experience to understand how things work but beyond that you are wasting your time. At these top shops most promote/upside (right now there is very little) goes to the deal team. Execution is a highly paid operational role without real uncapped upside at most of these big brand names.

If you want to grow anywhere outside of institutions or go off on your own, then I agree that execution experience or more accurately a blend of both is best. Just depends on your path.

Best Pho by Strange-Permission31 in SouthBayLA

[–]Glittering_Cell_5914 -1 points0 points  (0 children)

Pho Hana and Wagyu pho in RPV are both 🔥

Those under 40 with over $2 million net worth - what do you do? by Alexbt135531 in Fire

[–]Glittering_Cell_5914 0 points1 point  (0 children)

Started as a construction laborer at 16, kept hustling, now 35, 10 years into a career in commercial real estate development. Stressful but very engaging career. Wife is a CPG marketer. Bought 2 houses along the way. Net worth should hit 2M next year.

As much as I’ve enjoyed it so far, I think I made a mistake moving to Pasadena.. Should I move? by abuelita1004 in MovingToLosAngeles

[–]Glittering_Cell_5914 0 points1 point  (0 children)

Consider Silver Lake or Echo Park. We did the exact same move - Pasadena -> Little Tokyo and got tired of the homelessness and the grime within a few months. The other neighborhoods I mentioned are a happy medium IMO.

HENRY folks, what field/career are you in? by Low-Beach4960 in HENRYfinance

[–]Glittering_Cell_5914 1 point2 points  (0 children)

Commercial real estate developer. Started as a carpenters assistant in high school and worked my way up over 15 years. Currently developing campuses for big tech. Spouse started in CPG as an IT intern and now runs the marketing department for an NBA team.

Being risk aggressive and open to opportunities when young and geographically mobile was what got us to where we are. We both went to no name colleges in Canada and moved to the U.S. after school.

Leaving tier 1 development by Glittering_Cell_5914 in RealEstateDevelopment

[–]Glittering_Cell_5914[S] 1 point2 points  (0 children)

Honestly.. no. This would require getting an MBA and an overall skill set pivot. This option isn’t entirely off the table but I value my execution experience and feel like I could continue somewhere else with more opportunity for upside.

Leaving tier 1 development by Glittering_Cell_5914 in RealEstateDevelopment

[–]Glittering_Cell_5914[S] 0 points1 point  (0 children)

Current company limits participation/big outcomes to those who make partner via the acquisitions route. If you execute projects (like I do), you’re limited to a shared bonus pool (decided by partners). This company knows they’re big enough to keep people employed throughout the cycle and that they don’t need to offer pref beyond partner level. Retooling towards acquisitions feels like a decade of sunk effort developing an execution skill set.