Advice regarding gettin in REPE/PE
Hey everyone,
I am a current junior attending PSU and am very interested in getting into the REPE/PE space. I am interested in REPE because I have been exposed to RE since a young age and naturally gained a liking for it. Since I was already looking to get into the traditional private equity space I figured Im going to try REPE as well. I've mostly been heavily networking with people within the space as well as sending out applications for 2025 internships since I've already sent them for 2024. Trying to understand the industry better, what they do, how they got into the space, etc. There are more things that I ask them, but I'm sure you get the picture.
I have some RE experience with asset management and recently took a course on water modeling to familiarize myself with modeling and Excel. What else can I do to make myself more marketable for the internship space despite what I have already? What are some better questions I should ask when speaking to these people? What characteristics do these firms look for in candidates so that I can implement them? Should I be reaching out to recruiters more than people in the space?
Any advice is appreciated. I thank you all in advance
I’d recommend to continue practicing modeling. You could also get Argus certified (a bit pricey and not a must but definitely a plus). I don’t think speaking to recruiters would hurt, but I think reaching out to people in the space is the main way to go. Expanding your network and hearing from their experience actually being in the industry and about the current market will teach you a lot and help you understand what part of the industry you want to possibly go into. Questions to ask about: recent acquisitions that they’ve made, current fund strategy and how that strategy has evolved over the years, and about their personal path that led them to where they are now. Great to talk about the interest rate volatility and ask them how they believe it will impact cap rates and value going forward. Can also discuss the huge jump that portfolios saw in insurance and taxes. REPE is great, you learn a lot and it’s interesting stuff, especially if you already have an interest in RE.
I appreciate the response, Most of the people I've spoken with are In REPE or PE in general. However, I don't bring up many technical questions because I don't think I'm super proficient in them yet. Is there anything you can recommend to learn and read up on it? I have been told that knowing ARGUS is a huge plus, in terms of practicing modeling are there any courses you recommend? I know Wall Street Prep has a very good one.
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