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Preview Freshness
Building an REPE Shop So I've recently begun to think in more detail about how to set up my own REPE shop - realistically starting 5 to 10 years from now. One thing I am struggling with is how to finance the early days of the operation. I'm realistically going to be able to contribute say $2-$3 million of equity, but... 3 weeks 3 days
Solace for HBS dings 3 weeks 5 days
RE ProgramsI've heard a few of you real estate guys mention 1 year masters in RE programs... I'm interested in which do you think are the best - internationally and within the U.S.? LSE, MIT and Columbia seem to be some of the more respectable ones... are there any other solid ones I'm not thinking of? 3 years 1 month
real estate 'bets' - low cap rate dealsWhat's the lowest cap rate you've ever bought an asset at looking to do just a minor refurb / limited capex and stil projected a return above say 18% on a levered basis? i.e. what's the highest rent growth you've ever put in a pro-forma and gotten through IC? let's assume the we're in the modern... 3 years 1 month
RE Fund-of-Funds, top LPsQuestion to you real estate PE guys out there... if you HAD to work for a real estate Fund-of-Funds instead of a more "baller" GP, which REPE F-of-F's would you choose? Which do you think are the best / have the best capital raising capabilities / pay the most, etc.? Do any of you guys know what F-... 3 years 2 months
High-end Chicago LivingReal estate and/or Chicago monkeys: what do you guys think about the current residential market in downtown Chicago / LP? Theoretically speaking, if you had the money, do you think now would be a good time to buy a really nice two-bedroom place like either on the gold coast, in the trump tower,... 3 years 8 months
Bullish on banks and insurers? Gentleman, I've been hearing a lot of what I think is relatively sound analysis that major U.S. banks and to some degree other financial inst. are currently undervalued and are about to break out of their long term rut and start to lead the market (obviously we've still seen a very big run up... 3 years 8 months
MBA 'career objective' MBA related question. Everyone says that you want to be very CLEAR about your post-MBA plans in your essays for MBA applications... SOME people also say that you want to be extremely REALISTIC about your plans so as not to let the adcom think they're setting you up for failure by letting you in... 3 years 11 months
PDI testAnyone know what this test is like? I know it's a 3-4 hour deal... with an interview, personality exam, reasoning exam, etc... but has anyone ever actually taken one? 3 years 11 months
YaleSOM / MITTwo random, unrelated questions: 1. If you go to Yale SOM will your kids become TRUE legacies at Yale? Meaning when they apply for UG at Yale will they get the same level of advantage as the kids of someone who did undergraduate there? That would be HUGE (not at all kidding). 2. Anyone have... 4 years 1 month


Preview Freshness
REIB, REIT Acquisitions or REPE is what they're...REIB, REIT Acquisitions or REPE is what they're looking for as your pre-mba experience. Ideal is REIB -> Acquistions. They're also open to looking at people that were in the analyst program at Tishman or another big developer. Also, one thing to keep in mind is that I'm talking about what the... 3 weeks 1 day
@dingdong08 I do definitely see that institutions...@dingdong08 I do definitely see that institutions are generally placing larger amounts of capital with the likes of Lone Star and BX, and then choosing specialist investors for sector or geography specific strategies. This is particularly true with SWFs and the top tier of sophisticated LPs who are... 3 weeks 3 days
@prospie @Dingdong08 @cre123 @picklemonkey @REPE8...@prospie" @Dingdong08" @cre123" @picklemonkey" @REPE8" and anyone I missed, thanks very much for the insightful comments. The $200mm initial raise comes from prior experience working at a startup shop where that was about what we ended up with for the first fund. Our team was actually larger... 3 weeks 4 days
@cre123 you're not wrong, but people do.@cre123 you're not wrong, but people do. 3 weeks 5 days
Just sort of a side comment on this one --...Just sort of a side comment on this one -- getting a top MBA is not an optimal route towards a top REPE firm unless you already have substantial real estate / finance background prior to MBA. It's similar to normal top PE where there is limited scope for deviation around a desired resume. 3 weeks 5 days
Pay in real estate varies wildly across functions...Pay in real estate varies wildly across functions and firms. Development is generally not one of the higher paying parts of the business. Having said that, learning about real estate at a top developer is a very good starting point and can lead to a lucrative career either at an investment shop or... 3 weeks 5 days
Appraisal is a solid internship to have on your...Appraisal is a solid internship to have on your resume if you're trying to break into RE, but you don't want to work in the business if your ultimate goal is to get on the investment side. IB, development and investment sales are all better places to start out. 3 weeks 5 days
@irrelevant lol@irrelevant lol 3 weeks 5 days
Sales velocity is probably the most important...Sales velocity is probably the most important assumption you'll have in a condo build-to-sell development model, and the number is generally quite hard to estimate and is very market and project specific. Pricing is also obviously critical, but I'd argue that your pricing is easier to estimate. You... 3 weeks 5 days
Depends what you're looking for. I think this...Depends what you're looking for. I think this board is a bit in love with GSB vs. Harvard cause of the impression (probably true) that it's harder to get into... but that's not necessarily the best reason to choose a place. Both are hard enough to get into that you're not going to be studying... 1 month 21 hours
WallStreet Prep Master Financial Modeling