Real Estate Asset Management - What You'll Do, Career Paths, & PM vs. AM vs. PM
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- เผยแพร่เมื่อ 14 มิ.ย. 2024
- Real Estate Asset Management vs. Property Management - What’s The Difference? // Thinking about starting a career in real estate asset management, but not exactly sure what the difference is between real estate asset management and real estate property management? If you’re taking a look at real estate asset management careers and want to know what you’ll actually be doing (that’s different from real estate property management), you’ll definitely want to check this video out.
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Anything I missed in an asset manager role that you've seen? Let me know in the comments. Thanks for watching!
Nothing you’ve missed but I was wondering if you could help with ethical approaches to letting space as an asset manager. 3 scenarios Ie why would you take an ethical approach, why you wouldn’t, what approach maybe hard to take without impacting a way an AM adds value
Are Reits asset managers ? or portfolio managers ?
Have a full/detailed video on Portfolio Management?
Thanks for sharing, I’ve been a multi family property manager for 14 years and less than one year as a commercial industrial property manager but work ended during the pandemic. I applied as an assistant commercial property manager and got an offer by the same company as an asset manager. I thought they made a mistake but they said that I will helping them with acquisitions and dispositions of large scale anchor properties. I am super excited about this opportunity, and hope to learn so much of this new position and title, I feel confident about at the same a little nervous about it
I’ve been a multi family pm for almost 12 years now and I’m interested in getting into commercial. How’d you make the initial transition?
@@SuperDB215 I’m also a Realtor and had experience in leasing office spaces. I got a commercial property manager job managing industrial properties, was let go during the pandemic and then applied for the APM position and instead they gave me the asset manager position, they said I will help with the acquisitions, dispositions, and budgeting for all properties, so I guess I was at the right place and at the right time.
@@dianaperez25 thank you for sharing with me, best of luck in your new position!
@@dianaperez25 That’s awesome. I am also a realtor with experience with a development company. I am trying to leverage my way into asset management as well.
I found this video really insightful! Thank you for the great sharing
I like your videos so much i am following you almost since you started keep it up
I'm changing careers from engineering to multifamily asset management and have an interview coming up, this video was very helpful. Thank you!
How is it going so far ?
very useful , thank you for sharing the information
Awesome video! I’m finishing up a double major in Finance and Construction Management and think this would be a great career path for me. Thanks for the informative video!
Happy to help, Matt! Thanks for watching!
Just found your channel. Thank you for the great info.
I was just accepted into my local Universities MBA program and this is very helpful.
Hope all is well in these crazy times. Thank you.
-Best
Great to hear - congrats on the MBA acceptance!
Great video!
Solid video thx
Helpful basic explanation. How would you go about implementing a business plan on day 1 of a new role for an existing portfolio
Hey! I am an asset manager, I just started out in this role. Needed some guidance on what are the prospects in the near future and how to grow through thr ranks in a big firm
Got a question. I have an engineering degree(Aero-Mechanical). Your opinion, which position would most fit my background and how would I be able to convince the hiring manager to hire me for these kinds of positions ?
What are some specific examples that asset managers do to increase NOI (increase income, decrease expenses)???
Hi Justin,
I'm currently in my mid twenties in a senior Property manager position. I would like to transition to Asset management or do both, if possible. Is this difficult, or uncommon?
Is this a good role for somebody who comes from CRE lending at a bank but does not want to get into sales/business development?
Hi, I just graduated from Construction + Facilities (Property) Management in uni. Do I need a finance background/ MBA to do the business side of Asset Management? I am considering a Masters.
Thanks for the overview. Very helpful! Do you need to real estate license to be an asset manager?
Hey John, nope, you do not need a license to be an asset manager. As with financial analyst roles, I'm sure there are exceptions out there, but I have not seen a case where a license was required to be an asset manager. Thanks for watching!
Thanks! That's good to know.
Hi Justin,
Fantastic videos for learners. I appreciate your postings.
I'm a licensed architect looking to hop over to my client side (developers) as "development manager" whose role is supposed to cover from financing to administrating the design and construction to completion. Do you have a video or any info about this particular position?
Hey Dan, great to hear you're finding the videos helpful! I don't currently have a video on a development manager role, but keep an active list of viewer suggestions and I will add this to that list. Thanks for the input!
Do you know of a group or forum for asset managers to exchange ideas and talk about the industry?
Very informative video. I'm considering a transition into CRE from what I've done the previous 5 years, residential mortgage lending. I feel my best landing spot would be as a Real Estate Asset Manager. In your opinion, would an AAMS designation suffice for an entry level role? Long-term CFP would be considered. I have my BS, but it is Computer Sciences unfortunately.
CRE asset management is very focused on managing the performance of the physical assets, so something like the AAMS or CFP isn't generally hepful or applicable. I'd focus more on learning CRE-specific finance and financial analysis over certifications focused on managing paper assets.
@@BreakIntoCRE Thanks for that info. Any idea where to start? Perhaps the CCA issued by NAREA?
I have a friend who asked me to manage his multi family building 260 units and retail. How much should I ask for in salary?
Is this career path applicable only to real estate firms in the U.S? Does it differ from Canada? Thanks
Hey Karl, I've only worked in the US so I'm not 100% sure about the Canadian equivalent path, but I would imagine it would be very, very similar.
What are the preferred educational requirements to enter this position?
Usually a bachelors degree in finance, economics, architecture, or another real estate discipline is helpful to get into an entry-level asset management role. Real estate related internships help a lot as well.
Right now I am a Property Manager at a class-A -property at a very well known management company. Is it possible to jump over into the Asset Management side or is it more difficult ?
Hi Amelia, have you been able to get more information in transitioning from property management to asset management? I'm in the same situation as you.
I have no idea on anything about AM, just got a job proposition for that, even though I know nothing and never even studied anything on analysis, I really want to give this a shot. I am working as sous-chef right now. Imagine.
Very helpful video. Quick question: what are exit opportunities like for an asset management analyst looking to get into acquisition roles? Specifically, someone coming from a very reputable firm (i.e. Brookfield) as a RE asset management analyst. Would someone in a role like this find themselves stuck in the AM track?
Hey Bruce, exit opportunities should be great if you're coming from a top-tier firm. If you're looking to get into acquisitions, it likely won't be quite as easy as if you started as an acquisitions analyst, but you're not likely to get "stuck" that early in your career if you're an asset management analyst for 2-3 years. What you'll learn will still be applicable to an acquisitions role, and the brand name of your firm will go a long way as well. Good luck!
What’s the salary range for this position?
it is very dependent on your location, size of the firm, and experience. I have heard mid $60k to start but again totally depends I think that sounds low but I also had a lot of trouble finding jobs when I was asking for more