How to gain the most out of internship?
Junior in university starting a capital markets spring internship in a few weeks (C&W, JLL, CBRE). I already secured an internship for the summer in REPE, and I have prior internship experience at a small $1B REPE firm.
Does anyone have any tips for gaining as much as possible out of a great CRE internship, especially at a big company? This is probably going to be my only exposure to the sell-side like... ever. I wanna get the most of these 10 weeks to help me become the most well-rounded dude possible as I enter a career in REPE - and I wanna be as useful to these ppl as possible. Any tips appreciated. Cheers!
Ask questions and figure out the why of what you're doing as well as how to do it. The buy-side will always look at brokers and think they give unrealistic numbers or way too optimistic scenarios and cap rates. Figure out what their thought process is that goes in behind their decisions and then when you're at a REPE down the line, you'll know what to look for in OM's and deal material to give you a better picture of the asset.
Any internship in general should be about learning more than trying to accomplish a lot and being overly productive. Odds are, no intern will be an invaluable part of the team and will be relegated to the busy work. The best thing you can do is ask a million questions (without annoying your boss too much) and learn their thought process and industry as best you can. Also, when you make mistakes take the feedback positively and really focus on applying it to your work. No one is going to expect you to have perfect modeling skills or know exactly what kind of comps to pull/cap rates to apply on your work.
Network and develop professional friendships with colleagues that you kick it off with.
Find an internal champion/'mentor' who will take you under their wing during the internship.
Develop these key relationships, make them like you and make them want to help you be successful. (This is the biggest one)
Work hard, ask the right questions.
Show up polished and on time every day.
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