Pay It Forward: "Once You Have Momentum, No One Can Slow You Down," Says Riley Manke
“The key to success in life is momentum. Once you have momentum, no one can slow you down”
Riley Manke is associate director at Walker & Dunlop and focuses on commercial real estate finance. At Walker & Dunlop, Manke originates new loans and loan closings for multifamily and commercial properties on a national level.
What has been your biggest challenge or obstacle in your particular role and how have you overcome those obstacles/? I did not go straight into commercial real estate finance out of college, so I have always felt that I am playing catch up with my peers who did. I quickly learned that if I was to overcome this feeling of insecurity, I must first get over my own ego and, second, make sure to work harder in order to ramp up my skill set. I have used these two obstacles as motivation to keep improving.
What about your current role/position at the company are you most happy with? My favorite part of the job is closing a loan for a new borrower and having the borrower comment on how pleased he or she was with the process. There are many factors we cannot control, such as a movement in rates, but when everything lines up and we deliver better than expected terms to the borrower, it is a very rewarding feeling. Beyond that, I really enjoy that each deal has variables (property type, tenancy, loan type, etc.) that make each day different than the last.
What is the best piece of advice you have received that has helped you succeed in your industry? I worked as a bellman at a five-star hotel in college, and one day, I was driving the owner of the hotel to his room. He looked at me and said, “The key to success in life is momentum. Once you have momentum, no one can slow you down”. I find this advice particularly fitting for the commercial real estate industry, and it has stuck with me ever since.
What is your advice for the next generation?
- Reach out to anyone you know and ask their advice on what roles and companies they would recommend exploring. You never know what that person could teach you, or what that connection may lead to – whether a job offer or another introduction, networking and connecting with others is key.
- If you do not already have contacts in the industry, I would recommend contacting bankers and brokers at the companies you are interested in applying to, and asking if they would have time for a fifteen-minute phone call or coffee. Not all bankers and brokers will respond or meet with you, but if they do, and you make a strong connection, it will almost always help you down the road.
- Beyond that, I would encourage hard work and an understanding that the first couple of years may be a bit overwhelming, but this time and development of a new skill set is an investment in yourself. Also, I think it is very important to be respectful of everyone, regardless of job or title. Advice like that does not get shared enough, in my opinion.
How does this advice differ from what you may have received when you were starting out? I think that commercial real estate is a very rewarding career. There are many fields within the industry depending on the personality and skill set of the candidate. I have seen firsthand, at Walker & Dunlop, that many of the summer internship participants end up joining (and staying with) W&D upon graduation. So, I would recommend interning while in school and starting to make as many connections as possible while also researching the companies they are interested in. Understanding the different departments and envisioning yourself in the various roles will help candidates narrow down which internships they will apply to. It is better to spend this time upfront, rather than apply for an internship you later find out is something you are not at all interested in pursuing.
In your opinion what take-a-ways did we learn from the COVID crisis? As we are now over a year and a half into living through a global pandemic, the experience has made me realize how resilient humans are.
The pandemic forced us to take a step back and re-evaluate our professional and personal lives. On a professional level, many employers gained trust in their employees’ ability to work remotely. At the same time, many employees realized that time spent commuting was negatively impacting their productivity and quality of life. Going forward, I expect many companies to adopt a flex work schedule, giving employees the option to work at least a few days per week from home. While we realized the efficiencies of working remotely during the pandemic, I think we were also reminded of the importance of face-to-face interaction. Losing in-person interactions for so long left everyone eager to get back out and see friends, colleagues, family, and clients. The meals I have been able to share with clients recently feel more genuine than before the pandemic
Find more CRE career advancement tips and inspiring stories from Industry Leaders in our Pay It Forward Series.
