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Spotlight: WSO User GuidelinesPlease read in detail before posting to WSO: WSO User Guidelines ...
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How to find a property's intrinsic cap rate?I am at an otherwise traditional PE/HF firm that is pretty much doing its first RE deal...so we are all new to this shabang. My boss wants me to find a way to get a property's intrinsic cap rate, as in he does not want to rely on market comparables or transaction data or anything. This means he nee...
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Steps and challenges to becoming a "sponsor"Not saying that everyone in REPE, acquisitions, Asset Management, etc has an "end game" of starting their own shop, syndicating deals, raising a fund, etc. But I am sure there are many of us who are looking at that as the goal down the line. Given the many nuances and factors involved, I wanted to ...
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How would you rate this Miami opportunity? Pros and Cons?I have an offer to move back home to Miami to work with a small acquisitions shop (4 partners - each covering a different skill-set/area of expertise from finance/acquisitions, management, renovation, etc.) which was formed almost 11 months ago and has acquired +$35MM in multi-family rental assets (...
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Info Interview with Development ExecI have an informational interview with a senior member of a very large, global development firm coming up and I was wondering if anyone on the forum (preferably with development experience) could help me come up with some relevant questions. The main purpose of the meeting is to pick his brain on hi...
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Will Excel modeling tests always be for a hotel or apartment?Hey guys, I will be taking an Excel modeling test next week for this real estate firm that owns mostly office and retail, with a few hotel and apartment properties as well. Given that office and retail cash flows are almost always projected using ARGUS, is it safe to assume that my modeling test wil...
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Will Excel modeling tests always be for a hotel or apartment?Hey guys, I will be taking an Excel modeling test next week for this real estate firm that owns mostly office and retail, with a few hotel and apartment properties as well. Given that office and retail cash flows are almost always projected using ARGUS, is it safe to assume that my modeling test wil...
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CRE valuationsWhen valuing commercial real estate (NOI/cap rate), why are you valuing just the physical structure instead of the company that owns the property? For ex, if you're valuing a hotel, there are other assets on the BS that don't encompass the NOI/cap rate tied to the property..is that added on after t...
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Market Research Sources?Hey guys, little background, I'm relatively new to the industry, working as an analyst at a pretty young REPE/operator shop in New England. We have an existing portfolio of multi-family and a office properties and we have principals with successful backgrounds in Industrial and some retail, so we're...
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Market Research Sources?Hey guys, little background, I'm relatively new to the industry, working as an analyst at a pretty young REPE/operator shop in New England. We have an existing portfolio of multi-family and a office properties and we have principals with successful backgrounds in Industrial and some retail, so we're...
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Goldman Sachs RMD vs REPIA Hi, can someone please explain the differences between the RMD group at Goldman Sachs in Dallas and the REPIA in NYC. Which would offer a better experience for real estate investing and provide the best exit ops to real estate PE? ...
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Asset Management QuestionQuick poll, curious what the general "ratio" is for an asset manager, in terms of assigned portfolio. For instance, assuming a multifamily owner/operator, how many units would a single asset manager be assigned before his/her plate became too full. I realize this is not a cut and dry answer. Just ...
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CRE Valuations ReadingHi All, Looking for some mid-level literature suggestions on CRE valuations/appraisal. Thinking something in the way of a textbook or the like. Just trying to sharpen up my general understanding of the topic. Any help or guidance would be appreciated. Thanks! ...
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Recommend Me a BookGoing to Europe for 10 days at the end of July, figured I'd use the long flights to start up a new book. I'm currently working in investment sales at a major brokerage on the office/industrial side. Thing is, I want to learn more about the buyside. What really makes an investment a good investment. ...
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Non-recourse carveouts/Guarantor RequirementsThis question sorta ties into a previous post regarding challenges becoming a sponsor. One of the biggest factors I think is having a balance sheet available, in order to secure debt financing. Given the capital flows currently, competitive debt quotes aren't too much of an issue, with interest on...
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Shot at WF Financial Analyst Position, any help greatly appreciated.I have been lurking for months on end now trying to absorb any and all information, so thank you in advance for any of your help. Background: 22, graduated last year with a degree in Economics with a minor in Accounting from a non-target UC. Only real financial/real estate experience has been in res...
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Creating a deal board...Just as a quick market test - would anyone here be interested in / benefit from / participate in a type of deal board for each other? I think its safe to say that we all aspire to become top producers and would only benefit from bringing in more production into our shops. Not sure the exact make-up...
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Best Real Estate Course/Materials for BB Prof W/ No RE ExperienceHi All, I've been working for 6+ years at a top BB focusing on valuations and performance of all various financial assets including vol/rate derivatives, fixed income cash securities, credit products (cds, fi, bank loans), etc. I also have my CFA charter. I've been researching making a career cha...
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CRE Financing & Modeling: Where should I start? CCIM?I'm currently a Project Manager for a major Construction Management firm with ambitions of one day being able to do multi-family development for my own firm. While I have significant experience in construction and its methodology (5 yrs currently), I lack experience from an analytical/financial stan...
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Off-Market DealsMaybe it's just me, but over the past 12-18 months I seem to be receiving more and more in the way of off-market deals via email, and many of these are coming from independent "brokers" (i.e. people with Yahoo and AOL email address who work from home, etc). In most cases, these are deals with ridicu...
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Current RatesIn light of the looming Greek/Puerto Rico catastrophes, I was talking to a counterpart at another company about surprising rates we've seen. Figure it would be interesting to have a thread showing rates from recent deals that have been completed---both surprisingly high and low rates. Two months ag...
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NYU Schack MSRE Vs Cornell Baker Masters in REI am RE professional, I currently manage self owned portfolio of residential and commercial real estate. I am looking into full time programs in Real Estate focussed on investing/Asset Management to help me attain my goal to have my own REIT in future. After graduating I want to work for a REIT and ...
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CRE career path advice to PE analyst Hi, currently I am a research analyst for a commercial real estate analytics company (real capital analytics, reis inc, costar etc.) I am also finishing up my Certificate in Real Estate Finance and Investment at NYU. Eventually, I would like to be an analyst/ in acquisitions on the buy side at a PE ...
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CRE career path advice to PE analyst Hi, currently I am a research analyst for a commercial real estate analytics company (real capital analytics, reis inc, costar etc.) I am also finishing up my Certificate in Real Estate Finance and Investment at NYU. Eventually, I would like to be an analyst/ in acquisitions on the buy side at a PE ...
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Using an equity placement firm to fund a dealFor those who have successfully used an equity advisory group (and we all know there are a bunch of them out there), was the equity fee (I know it typically runs (2% of equity raised, plus or minus) capitalized as part of the deal? As an example, on a $50M purchase, assuming 60% debt leverage and a ...
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