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Property developer career switch questions
Posted on 12/26/23 at 1:18 pm
Posted on 12/26/23 at 1:18 pm
Looking for advice for people that have been an independent consultant, particularly in property development. I'm looking at a career switch from industrial maintenance to property development. This came about because I left my prior job recently due to it being a toxic situation (with others leaving as well). In the meantime I've been doing independent consulting for the due diligence for a company that is looking to buy a former industrial mill and 300 surrounding acres. I used to work at this mill and they've offered me the position as the head developer if they close the deal.
We've talked about pay.. it's a little less than what I can get if I get hired somewhere else.. but there's a decent equity component (about 2.5%).
The key is they don't want to do HR. I could either be an independent contractor, or they'd hire me but also hire some sort of outside HR.
Does anyone have experience in this type of field and have advice on which way to go? Very aware of the irregularity of pay and risk/reward profile of this career path... just mainly looking at how to structure a deal to work alongside a large developer. TIA
We've talked about pay.. it's a little less than what I can get if I get hired somewhere else.. but there's a decent equity component (about 2.5%).
The key is they don't want to do HR. I could either be an independent contractor, or they'd hire me but also hire some sort of outside HR.
Does anyone have experience in this type of field and have advice on which way to go? Very aware of the irregularity of pay and risk/reward profile of this career path... just mainly looking at how to structure a deal to work alongside a large developer. TIA
2
Posted on 12/26/23 at 11:24 pm to Browncd81
What does the head developer position do?
And why is HR different if 1099 v employee? Are you talking about HR for yourself? It reads as if you would be doing HR for hires for the buyer of the mill + acreage, in which case HR for other hires needs to be done regardless of the status of the HRer.
And why is HR different if 1099 v employee? Are you talking about HR for yourself? It reads as if you would be doing HR for hires for the buyer of the mill + acreage, in which case HR for other hires needs to be done regardless of the status of the HRer.
This post was edited on 12/26/23 at 11:25 pm
Posted on 12/27/23 at 8:25 am to Meauxjeaux
quote:
And why is HR different if 1099 v employee? Are you talking about HR for yourself? It reads as if you would be doing HR for hires for the buyer of the mill + acreage, in which case HR for other hires needs to be done regardless of the status of the HRer.
I guess I'm not the only one confused about the HR comments. Assuming HR is Human Resources and not another acronym right?
Posted on 12/27/23 at 9:40 am to WhiskeyThrottle
quote:
...offered me the position as the head developer...
What are your duties as head developer? Are you at risk as the consultant if mistakes are made costing hundred of thousands of dollars?
Posted on 12/27/23 at 12:29 pm to Browncd81
Are you acting as the job project manager or superintendent?
It sounds like a fun job but are you familiar with earth and civil work man?
It sounds like a fun job but are you familiar with earth and civil work man?
Posted on 12/27/23 at 7:36 pm to Solo Cam
Thanks for the responses..
1) HR - that's per them... also a bit confusing on my part. Basically I could get hired as a W2, but they'd have some outside HR entity do benefits vs out of pocket as 1099 but probably a little more pay.. still waiting for the offer on paper
2) Basically the project manager, mostly focused on infrastructure, environmental cleanup (about $20 mm earmarked for that based on the Phase 1 study), and rehabilitation of existing buildings. But they will bring in a vertical partner for new facilities most likely. So setting up an underground microgrid, fire system, upgrading the two wells on site and doing a private treatment facility, getting demolition permits for unneeded parts of the mill, getting building permits for restoration work, working with the historical preservation district, etc.
Fairly familiar with civil work. I've installed a substation and a large pumping station (1800 Hp with large inlet basin and 1.25 mile 36" HDPE pipeline) at my last job. But I'd be able to work with construction contractors and other help for things like that.
1) HR - that's per them... also a bit confusing on my part. Basically I could get hired as a W2, but they'd have some outside HR entity do benefits vs out of pocket as 1099 but probably a little more pay.. still waiting for the offer on paper
2) Basically the project manager, mostly focused on infrastructure, environmental cleanup (about $20 mm earmarked for that based on the Phase 1 study), and rehabilitation of existing buildings. But they will bring in a vertical partner for new facilities most likely. So setting up an underground microgrid, fire system, upgrading the two wells on site and doing a private treatment facility, getting demolition permits for unneeded parts of the mill, getting building permits for restoration work, working with the historical preservation district, etc.
Fairly familiar with civil work. I've installed a substation and a large pumping station (1800 Hp with large inlet basin and 1.25 mile 36" HDPE pipeline) at my last job. But I'd be able to work with construction contractors and other help for things like that.
Posted on 12/29/23 at 10:11 am to Browncd81
Man frick it. Do it, you know you want to. I hope you have a ton of success and love it brother.
Posted on 12/29/23 at 9:21 pm to Browncd81
quote:
HR - that's per them... also a bit confusing on my part. Basically I could get hired as a W2, but they'd have some outside HR entity do benefits vs out of pocket as 1099 but probably a little more pay..
That makes no sense. If they already have W-2 employees they would not have to out source HR just for you.
Posted on 12/30/23 at 10:11 am to La Place Mike
I’m still having trouble following along here.
My advice would be if you want to be a multi million dollar property development manager, you should work on communication skills.
My advice would be if you want to be a multi million dollar property development manager, you should work on communication skills.
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