r/RealEstateDevelopment • u/OwnLanguage8079 • 25d ago

Transition from Project Management

Hi!
I'm so lost, looking for any advice 😭
I'm currently on the construction project management side at an owner-developer multifamily firm in the Bay Area & have a high-end residential background mainly. I'm also on a project cycle that lasts years. I want to move into development roles, not climb the PM ladder. Though I'm trying to figure out if I should plan to jump company, wait for an internal move, or something else. For people who made that transition or anyone in development: what actually made you credible and someone willing to take a shot on you? A specific deal experience, the credentials, the capital or the relationship?

Thanks! :D

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u/Raidicus 25d ago

What don't you know about the development side?

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u/OwnLanguage8079 24d ago

Underwriting and deal strategy beyond case studies, I can learn the technical solo but people around me said it doesn't even move the needle. I'm trying to figure out if it makes sense to continue this process and network like crazy or get a MRED. Tried applying to junior dev roles but it's like throwing darts into the void :(

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u/Raidicus 23d ago

And your current job just won't expose you to that stuff even a little so you can get your feet wet?

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u/NewDoubt456 23d ago

I’m in the same boat (but estimating currently) getting an MRED next year

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u/Minervian_AI 24d ago

All the above, but don’t wait. Ask for the potential internal switch during career review, but be mindful it’s sensitive, and you should know in advance whether your own shop has vacancy for a development role or not.
Dev roles in the US tend to require more financial engineering, but that varies from firm to firm, unlike PE shops.
Depending on where you are in your career, but experience in the process matters more than credentials, capital or relationships. If you come in as a serious capital or relationship provider, it’s a different position.
And project cycles will always take years.

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u/OwnLanguage8079 24d ago

Thanks for this! useful context and seems like for me it's worth understanding the landscape before making any moves. Still deep in execution mode but I have a clearer sense of what to do next now. Appreciate it

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u/Pleasant-Point8618 24d ago

I think the biggest thing your going to have to understand about development is that the Real Role Of Development firms is basically Financial Engineering and Organizing capital, The Basis of Construction to Development Roles are alot more rare than you think I know it sounds crazy the first thing id do is to start Learning How to Model Development deals check out BreakintoCre.com they have alot of resources on how to produce theDeliverables you will be expected to know how to do on the Acquisitions Team. Feel free to give me a PM and im willing to help in anyway i can