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George, Development Associate at Family Office - Real Estate Development: Advize Career Interview
A career path built on a foundation of hands-on construction experience evolved into a Development Associate role at a Family Office - Real Estate Development.
This position centers around financial analysis, stakeholder engagement, and wearing "a lot of hats" to ensure projects run smoothly.
Daily variety and problem-solving are hallmarks of the role, which demands time management, attention to detail, and a broad knowledge base.
While the fast-paced, high-stakes environment presents challenges in quick decision-making, creativity and continuous learning offer rewards.
Thriving in this industry requires handling high stress, thick skin, and strong communication skills, especially excelling at Excel.
Entry-level seekers might consider project management or project engineer roles at general contractor firms to gain crucial construction knowledge, cherishing and nurturing every industry relationship along the way.
Success in this field comes from leveraging prior experiences and having a long-term vision of career goals.
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
George Champion
Development Associate
Family Office - Real Estate Development
UC Santa Barbara
University of San Diego - Knauss school of business
History, Art History
Real Estate
Operations and Project Management
Worked 20+ Hours in School
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Career Path of a Development Associate at a Real Estate Development Family Office
George's career path began with hands-on construction experience in high school and college, "working for custom home general contractors" and later building ADUs part-time. This foundation led to roles as an assistant superintendent and then a project engineer, evolving from directing subcontractors on multifamily construction sites to encompassing project management, financial responsibilities, and communication with architects and engineers.
Main Responsibilities of a Development Associate at Family Office Real Estate Development
As a Development Associate at Family Office - Real Estate Development, George's main responsibilities revolve around financial analysis, including "financial modeling, so performer building, um, calculating IRR, return on investments," and figuring out the capital stack. The role also involves actively engaging with external stakeholders such as construction lenders, general contractors, and city officials for permitting and entitlement processing.
A Day In The Life Of A Development Associate At A Real Estate Development Family Office
A day in the life of a project manager at a real estate development family office involves "meeting with the general contractor and going over the plans" to ensure timelines are met and projects run smoothly, but as a developer, a wide array of knowledge is needed, including financial acumen, understanding lenders, expertise in construction trades, and familiarity with real estate law. Essentially, the role necessitates wearing "a lot of hats."
Most Important Skills for a Development Associate at Family Office Real Estate Development
For a Development Associate role at a Real Estate Development Family Office, "time management and enforcing a schedule" are crucial for keeping projects on track, while the capacity to maintain "attention to detail and the ability to have a lot of knowledge about a wide array of topics" ensures informed decision-making across diverse aspects of real estate development.
Favorite Parts Of Being A Development Associate At A Real Estate Development Family Office
George, a Development Associate at a Family Office focused on Real Estate Development, enjoys the daily variety and problem-solving inherent in the role, particularly given that "no day is really ever the same," especially in the construction industry, which is often described as "organized chaos" due to its high-stress and high-stakes environment.
Biggest Challenges for Development Associate at Real Estate Family Office
George's biggest challenge as a Development Associate in Real Estate Development at Family Office is "problem-solving, quick decision making, [and] thinking on your feet" in a high-stakes environment where one "gotta move fast." They attribute the challenge to the high-stress industry that demands being able to "make quick decisions fast."
Favorite Parts Of Working In The Real Estate Development Industry As A Development Associate
George, a Development Associate, enjoys the creativity inherent in real estate development, noting that "no building is the same" and each project presents unique challenges and a "constant learning curve" that prevents monotony. Development and construction are therefore interesting to George because they are an iterative process of problem solving.
What Type Of Person Thrives In The Real Estate Development Industry, According To A Development Associate At A Family Office
To thrive as a Development Associate at a Real Estate Development Family Office, ability to "handle high stress" and "being very thick skinned" are essential, as construction sites involve high energy and blunt communication styles. The professional highlights that success also requires making quick decisions amidst the fast-paced, potentially aggressive environment.
What A Development Associate At Family Office Real Estate Wishes They Had Known Before Entering The Real Estate Development Industry
George, a Development Associate at a Family Office in Real Estate Development, wishes someone had emphasized the importance of strong "Excel skills as well as just computer skills in general" before entering the field. According to George, being "really quick with Excel" is an amazing "time savior."
Entry-level positions for aspiring Development Associates
George suggests that an undergraduate or graduate student seeking entry-level positions in real estate development should first consider working for a general contractor in a "project management role or project engineer role," as having a construction background can provide a significant advantage. George highlights that lacking construction knowledge "puts you at... big disadvantages in terms of not understanding timelines or how your contractor thinks."
Significant Career Lesson From a Development Associate at a Real Estate Development Family Office
George emphasizes the importance of careful and considerate communication in the close-knit San Diego real estate development community, noting that "you gotta be really, really careful" because negative interactions can easily resurface. Therefore, the key lesson is to "cherish and nurture every relationship" with industry contacts, as maintaining positive relationships with companies, subcontractors, and everyone else is critical for long-term success.
College Experiences That Helped a Development Associate at a Real Estate Development Family Office Succeed
George attributes success in real estate development to hands-on experience gained in college working for a general contractor building ADUs, where "knowledge of construction fundamentals" like framing and concrete provided a crucial foundation. George emphasizes that each job leapfrogs one to the next, requiring a long-term vision of career goals and leveraging prior experiences.
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