Next Summer Internship Offer
Next summer I have secured an offer through contacts at a homebuilder. The position would be an intern acquisitions analyst and would be based around valuing land opportunities. The company is part of a major land development company although the homebuilder is quite large in itself.
I have read on this site that land development companies typically are the first to lay off and typically have a lower payscale. The question is, would this be the kind of opportunity that would set myself up for possible buyside opportunities in the future? After working X amount of years, is this a role that would open many doors?
Forgot to mention that the internship is in their Southern California property region if that makes any difference.
Both land and homebuilding are different animals from the typical buyside jobs referred to on this forum. And valuing land can be a complete crap shoot in a market like this. I worked on a land deal where we asked 3 different parties to estimate the value and the variance was very high. So as you can imagine, land purchasing slows down very quickly in a market when no one can estimate the value. I cannot speak to what their pay is, but I can imagine it would be lower.
The issue you will have in transitioning to a buyside job is that most buyside jobs focus on income producing properties (i.e. rent is collected). After working in land for X amount of years, it will open doors in land acquisition/homebuilding. It will not open doors in REPE, REIB, or any type of role that focuses on income producing properties.
It may not be a bad gig if you are doing an internship after your freshman or sophomore year. I will elaborate if that is the case. Just PM me.
Seconded. Not only are you not underwriting an income stream, it doesn't even sound like you'd be able to learn much about managing the whole development process re: houses or condos. You'd have to be really interested in land to do this full-time.
Voluptatem molestias quo vel non. Sapiente optio totam velit dolore.
Voluptas porro consequatur maxime omnis et. Eaque quia tempora nisi est itaque.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...