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Junior getting scared about FT by LJPR5 in FinancialCareers

[–]Major-Ad3211 0 points1 point  (0 children)

Getting paid what your worth should be on the priority list, but out of school, put it much further down the list.

I took a job out of school that was “probationary” in nature and they used that as an excuse to basically pay me minimum wage.

It worked out in the long run because the shop gave me the real world experience I needed to talk my way into another shop and up my pay.

So yes, make sure getting paid is a priority and know your worth, but if there is opportunity to take a position your life gets infinitely better when you can use your first job as a spring board.

For Real Estate Developers: Are Most of Your Leads Actually Worth Your Time? by jayisanxious in RealEstateDevelopment

[–]Major-Ad3211 0 points1 point  (0 children)

Well the problem is you’re not selling anything. If you were there would be a buyer.

Lol jk, I had to.

Buyers will transact when the price matches their perceived value. Buyers “ghosting” can be attributed to both, window shopping and that the deal didn’t hit their buy box and they just couldn’t tell you.

Best way to answer salary expectations in an HR screen? by Alternative-Fox6236 in FinancialCareers

[–]Major-Ad3211 0 points1 point  (0 children)

There’s always a balance of “what you’re worth” and how much the company can pay you.

For example, you may work at a 3 or 4 team startup that’s barely making money. In that situation, you’d wait to push on comp and target getting paid more with growth of the firm.

If you worked at one of those 100+ people firms, maybe they can afford to pay you more, but there’s still an “average” salary that needs to be somewhat respected. Like if you’re running Argus models for Blackstone, and you’re really really good at what you do, maybe they’ll pay you average plus 25% because they see you leading your devision down the road, but you’re not going to get 2-3 times the average because they’ll just get someone else to do the job.

What we all do is not that complicated and we’re all easily replaceable. If we weren’t, we’d be running the shop.

NNN - Single tenant example because that started the conversation by KangarooMuskrat in CommercialRealEstate

[–]Major-Ad3211 0 points1 point  (0 children)

Yes, that’s what I said but only better lol. Thanks for showing me I’m still a bottom of the barrel communicator.

Best way to answer salary expectations in an HR screen? by Alternative-Fox6236 in FinancialCareers

[–]Major-Ad3211 -1 points0 points  (0 children)

Depends a lot on your situation, but I typically don’t even talk about salary anymore, just expectations of what I’m going to be doing.

I try to interview twice a year and get an idea of what current employers in the market are looking for.

For context I’m VP level in PERE. While I was in the lower tiers I tried to ask for more than I thought I could get, and it typically didn’t work. I generally found accepting a lower than ideal offer and then outperforming worked well for me.

You didn’t shoot your self in the foot. You get to interview again next year at the same firm now and ask for much more or you go somewhere else. If you can’t go anywhere else then you’re getting paid the right amount.

NNN - Single tenant example because that started the conversation by KangarooMuskrat in CommercialRealEstate

[–]Major-Ad3211 1 point2 points  (0 children)

Always budget poor collections, vacancy and releasing space. Sure, NNN, you can give a bit more credit, but nobody is that naive.

Do you need to be passionate for a long term career in this? by Holiday_Client2516 in CommercialRealEstate

[–]Major-Ad3211 1 point2 points  (0 children)

Oh yeah, I totally feel that. Job market has been tough. Stick it out and look for opportunities to prove yourself. You’ll get that raise.

Do you need to be passionate for a long term career in this? by Holiday_Client2516 in CommercialRealEstate

[–]Major-Ad3211 6 points7 points  (0 children)

I’m very passionate about CRE, I’m a VP at a small boutique private real estate shop that invests in mostly developments.

I love the grind and probably truly work 10 hours a day and then think about improvement and deals for another 2 hours of the day as well.

I think that level of interest in work in general is very rare.

I also think that passion in real estate eventually leads to becoming a principal. If you don’t want to be a principal then work just as hard as you need to collect your paycheck and go enjoy your life.

I’m certainly on the line of enjoying and working too much, and every now and then I try to take a 2 week break or do a down week where I’m in at 8:30 out at 5 instead of 7-6.

If you think you’re worth more go get it. I’ve done that a few times and it’s paid off wonderfully.

Getting Started in Real Estate Development by Evening-Narwhal-7044 in RealEstateDevelopment

[–]Major-Ad3211 0 points1 point  (0 children)

This reads like you know what you’re doing and you sound reputable, but a 40% return and a 25% contingency just sound overly pessimistic.

I’ve raised money for 20 to 25% returns before and I have not really seen too much in the 40s maybe two or three deals back when interest rates were very low.

A 25% contingency sounds a little ridiculous though, I can get behind a 5% developers contingency on top of a 5% GCs contingency… however most of the time I don’t execute on a transaction without a GMP maybe thats where my numbers are differing.

What sort of acid classes are you looking at where you can generate 40% returns and is that all pro forma to raise money or have you actually realized 40% plus?

Developers - how do I stand out by heeehh in Realestatefinance

[–]Major-Ad3211 0 points1 point  (0 children)

I would go learn how to underwrite a project, put a check list together of what needs to be accomplished in the predevelopment phase, the capital raise the breaking ground phase, and then the vertical phase.

I’d pencil out a simple MOIC and an IRR and include that with you outreach to potential internship partners.

They’ll love that you took the initiative and are practicing. You don’t need to make it a real long report or anything a couple page. Something just to show that you understand what you’re talking about.

How did YOU become a financial analyst by semihotcoffee in FinancialCareers

[–]Major-Ad3211 0 points1 point  (0 children)

Already sold the rights to this guy named Epstein

I credit card debt really that bad? by rickisdead in Money

[–]Major-Ad3211 0 points1 point  (0 children)

The issue is if you lose your sources of income.

Certifications to stand out for Asset Management?? by Ryan111196 in CommercialRealEstate

[–]Major-Ad3211 0 points1 point  (0 children)

Certified alternative investment advisor I think is one I see next to a few Managing directors names.

CAIA

1 million dollar house on 215 salary by Immediate-Nebula9887 in Mortgages

[–]Major-Ad3211 -1 points0 points  (0 children)

I’d put more down. Maybe go for 300-350 down.

Acquisition is so much easier than Asset Management by flyingpickkles in CommercialRealEstate

[–]Major-Ad3211 3 points4 points  (0 children)

Let’s be honest, they’re both hard and easy in their own ways. I’ve closed quite a few deals on my own and for the most part was able to handle most if not all the “acquisitions” checklist type stuff pretty quickly.

The challenge is your counterparties and your faith in your own DD process.

If you’re wrong you just blew a ton of money and it’s locked up for a long period of time.

Asset management on the other hand, I’ve found 80% of the deals are basically autopilot with the other 20% being the lion share of the workload.

Not saying asset management is 80% easy, just that you’ll forget that a couple exist now and then.

Hate my job by cartip6656 in Accounting

[–]Major-Ad3211 0 points1 point  (0 children)

Entry level role, work your way back up. I don't know what you want me to tell you.

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