A Day In The Life Of A Vice President At Catalyst Commercial Real Estate
A VP in commercial real estate experiences a highly varied day, starting with a focus on inbox management, aiming to "get email box to zero" to maintain organization and avoid falling behind. Operational duties, such as coordinating vendors for projects, reviewing financials for efficiency improvements, and ensuring market rent competitiveness, come first, followed by more strategic activities like cold outreach and acquisitions, which offer greater earning potential but require efficient operation first.
Commercial Real Estate, Property Management, Financial Analysis, Vendor Management, Acquisitions
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Sean Willett
Vice President
Catalyst Commercial Real Estate
San Diego State University
Business Management & Admin, Marketing
Real Estate
Business Strategy
None Applicable
Video Highlights
1. Email organization is crucial: Start the day by getting the email inbox to zero to stay organized and responsive.
2. Project management and problem-solving: A significant part of the role involves managing ongoing projects, coordinating with vendors, and addressing issues like building repairs or city permits.
3. Financial review and market analysis: Regularly review financials to identify areas for improvement and analyze market rents to ensure competitive pricing while maximizing returns.
Transcript
What does a day in the life of a VP in commercial real estate look like?
The day in the life is always different, which is why this role is fun. The structure of the day typically begins with waking up and reviewing emails. My first priority each day is to get my email inbox to zero.
It's crucial to filter and organize your emails in this role; otherwise, you'll find yourself in a difficult situation. After clearing emails and responding to everything from the previous day, the next order of business is to ensure that all our objectives are underway.
For instance, we have a building that was red-tagged by the city due to a flood and requires numerous vendors. Depending on the project's stage, my first task would be to contact the next vendor needed, inquire about their timeline, or look to hire a new one.
The third part of the day is dedicated to improving daily efficiencies. This can involve visiting properties, which I do about once a week, or reviewing financials to find areas for improvement or changes that will help us achieve our desired returns.
I also review market rents to ensure we are competitive but not overpricing our offerings. After completing these operational duties, which can encompass anything from emergency slab leaks and roof repairs to working with the city on permits, the focus shifts.
Then, it's time for my own cold outreach, underwriting, and acquisitions – tasks I can do independently. This is where significant earning potential lies, but it requires operating at peak efficiencies first.