Transitioning from real estate to ETA

August 07, 2025

by a searcher from University of California, Berkeley - Haas School of Business in Oakland, CA, USA

I was wondering if anyone who has come from a real estate background would be interested in talking. My background has been acquiring/ managing properties and I recently started looking at ETA b.c. the ROI is higher but I'm not sure if I’m prepared for the lifestyle change and additional time/ energy commitment. I’m a little stuck on whether to continue to invest in real estate or make the switch to small business and would love to talk to anyone who has made this transition or is also considering it. Thank you!

Reply by an investor
from University of Texas at Austin in Austin, TX, USA

Made this exact transition 5 years ago. Real estate PE to search funds/LMM PE investor and operator. The brutal truth: ROI matters less than ROL (return on life). Real estate is about asset optimization. ETA is about human optimization - you're betting on operators (and yourself), not just spreadsheets. Key insight that changed everything for me: Ask yourself if you want to wake up thinking about cap rates and lease negotiations, or about building teams and growing businesses. Both create wealth, but fulfillment is personal. The lifestyle shift is real - more variety, steeper learning curve. The transition isn't as scary as it seems once you're clear on what energizes you.

Reply by a searcher
from California State University, Chico in Sonoma County, CA, USA

Carrie - I work in acquisitions on the CRE side. I really enjoy what I do but I want to expand into business acquisition at some point. I also live in the Bay Area. Happy to chat over the phone if you're ever interested.

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