Did I fuck up
Hey guys, currently in UG I had the decision of either doing a Business Development role at a well known REPE Shop in NYC think Blackstone/ Brookfield/ Starwood or a small RE Dev shop that operates in the sunbelt. Ended up choosing the BD role at the REPE MF, basically sourcing deals and maintaining relationships. I heard you can get pigeoned holed into BD and not make it over to the acquisitions side which is what I want to do, I know RE Dev is not REPE but it would be very hands on and good learning. Did I fuck up.
You must be a smart kid given these offers. So stop thinking dumb things. Listen, you got a great job out of UG. Pat yourself on the freaken back. Life changes over time. When I was in UG, I would have no way thought I would end up where I am right now. So go drink some tequila and enjoy your last couple months of college.
Appreciate it man, I did forget to say tho this is my 2nd year internship. Not sure if that changes your thoughts.
Hah, that only makes the person you’re responding to’s comment even stronger. You now have a big name on your resume that people will use as a defacto “well this kid got an internship at X so clearly there’s something to him” check AND no one gets pigeon holed for interning.
You'll make far more money and leave the office at a sociable hour. Stop chasing the prestige of acquisitions that you think means something to anyone
Honestly interested in the investing nature, want to work on models so not really chasing prestige here I want to able to grind.
I don't think you fucked up at all. First of all, business development is an important skill in this business. I work in acquisitions and as I have grown with my company, my role has shifted from underwriting to business development. I am out in the markets I cover weekly talking to brokers and land owners trying to source deals for us. Secondly, if you were to not like either role after a year, I think being in NYC and having a brand name on your resume will put you in a much better position to get a job you want.
I started in property management out of college and I was able to make the move to acquisitions. I am sure you will be able to too.
Also an intern, but I've noticed that people who start out at small shops end up getting more pigeonholed than people who cast wider nets at better brands from the get go. At least at a blackstone/brookfield you will build a network that you can tap into should you want to explore a different path. Also, with the number of people I know struggling begging dying and crying to land literally anything for summer, I wouldn't feel bad at all if I were you :)
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