Silver BananaTopicReplies
+12
WSO Hall of Fame: Real Estate Forum The Wall Street Oasis Real Estate Hall of Fame provides a comprehensive collection of some of WSO's best discussions on the real estate industry. Keep in mind this Hall of Fame does not include Q&A sessions by WSO veterans. To view a full list of Q&A’s & Interviews please navigate here. I...
8
0
Wells Fargo CRE InterviewHey everyone, I just found out today I have been selected to interview with Wells Fargo for a 2019 financial analyst internship in their commercial real estate division. This means I could potentially be working in anything from REIT finance or capital markets to commercial mortgage servicing ...
0
+15
Value add - multifamily ... RENTS, TAXES, WTF??I am seeing a ton of shit OMs from brokers labeling everything value-add for multifamily. This is nothing new but who is the potential buyer pool for these shit class B & C assets? To my main question, is it realistic to expect rents can be doubled at a property in 18 to 124 months at a 50 to 150 ...
43
+3
Brokerage vs REPE Asset ManagementHello All, I'm currently a senior in college at a North-Eastern semi-target school deciding on two offers for my full time job. My long-term goals would be to work in acquisitions at a top real estate private equity fund / hedge fund but was unfortunately not able to break in out of college. I'm...
22
+1
LP Interest AcquisitionsHey WSO, I was recently underwriting a GP interest acquisition and wanted to know if anyone could provide guidance on how to search for **LP** interest acquisitions, and how they would work. Is there any database I could search? One idea I had was to look at tax credit syndicated projects from 200...
3
+24
Analyst Modeling TestFigured I would give back to the community. I have a modeling test I was recently given for a debt/equity shop that I am happy to share. PM me and I will send it over. ...
81
+5
Graduating in 2 years, what path to take?I’m graduating in two years and currently work in residential real estate. I want to join commercial real estate once I graduate and eventually end up managing funds for a syndication or REIT. I have a lot of super newbie questions so please bear with me. First, I just transferred to a school (UC...
24
0
West Coast RetailAnybody here have experience with retail on the West Coast. I'm in MF development and a lot of the deals we are looking at now have some sort of retail component that is required, but I don't have a great source for retail comps (I have CoStar, but don't think its the best since everything is all ov...
0
0
CIT Bank - CRE Underwriting AssociateHello WSO, I've been working in CRE for about two years now, as an underwriter of Owner Occupied CRE for a smaller "regional" bank as I call it. We do well in the space, but are a fairly small group. I get a huge amount of deal flow and have been the lead analyst on over $1bn in applications in the...
0
+33 16
+3
CRE Broker to Development PathI’m interested in working in development and eventually working for a developer to learn and start out on my own after. I’m currently a senior in college and have been contemplating different paths. Right now I’m looking for positions in property management, construction, and commercial broker...
11
+1
Co working spaces as new asset classDear all, In a recent REPE interview I got asked about Co Working Spaces as emerging asset class. I was asked about specific yield and risks associated with the asset class. I reckon that this is probably the highest yielding and riskiest asset class in the market right now? Any input is much app...
2
+3
Real Estate Financial Modeling for beginnersHey guys, I’m trying to build a solid foundation for RE modeling in the hopes of eventually applying to a REIT or REPE fund down the road. Any suggestions on how to build up my financial modeling skills? Assume I’m a complete beginner. At the moment, I’ve been advised to look at Adventures i...
11
+4
Future of Industrial Real Estate? Who are the next big tenants?I've been reading numerous articles on how hot the Industrial Sector is right now. Across the board, industrial property vacancy is pretty much at its lowest in history. It looks like most of this demand for warehouse space is driven by 1) E-commerce Players 2) Logistics, 3PL companies As an ind...
13
+1
Anybody have access to Bloomberg?- Can you find a credit rating of a company without access to bloomberg?I am trying to find the credit rating for safeway/albertsons. Any help is much appreciated, thank you!...
4
+2
Valuing LandI'd love to hear everyone's thought on valuing land or valuing land if there is a vacant building on it. Do you just go by sales comparables? Do you focus on what the allowed buildable sf is? Are there any other approaches? If there is a vacant building on it, do you take the buildable SF and the...
2
+1
Kimberlite (RE IB boutique)Has anyone heard anything about this bank? Anyone in the sector have some insight on the reputation/deal flow/etc?...
6
Regions Bank - Review - Real EstateVery easy hours (40-50), but very little projects or challenging work. Very easy to revive a Full time offer.. No live deals or experience to work on and put on resume. Work can defiantly be repetivie and get boring after a while....
+2
Acquisition Fee (bonus on closed deals)Curious if anyone on the acq side has a bonus structure that pays an acq fee % on deals closed? And if so, how many basis points are you getting, and what is you typical deal size in dollars? Thanks...
20
+7
RE Debt | Managing the due diligence processI'm fairly new to the world of private debt. While I feel fairly comfortable building out a model, I find I have been struggling quite a bit with all of the due diligence. How did you all learn to go through this process? Or what is the process for due diligence at your firms? Specifically i'm t...
26
+4
Luxury Single Family Residential DevelopmentDoes anybody here have experience with single family development of luxury homes? I am not necessarily talking about large scale developments, more so want to learn about people who buy a single lot or tear down and build a brand new luxury house on top of it. Asked differently, are there any good ...
17
+1
Building Sensitivities and Scenarios out of Argus ExportsHi All - I know this is a loaded question: What is the high-level modeling process of taking my argus exports and being able to sensitize metrics (occupancy, rent, expense ratio, cap rate, etc.) in order to see different scenarios ?...
2
0
RE IBD Organisational StructureCan anyone advise on RE IB structure at Goldmans? Is it Analyst/Associate, VP, XD, MD/Partner and do they operate a Staffer role to allocate workflow? Any help much appreciated!...
0
0
Real Estate IB at a BBHi everyone, Doing an off-cycle at a BB in the RE IBD team in EMEA. Any tips on what I should know before I start? Understand valuations are a little different and terms like FFO/AFFO/Cap Rates will be used a lot. Also read how we should use the 12 month forward stabilized NOI for our calculations...
0
+1
Cornell Online CRE Certificate for No Exp, Non-Business UG?I'm trying to break into CRE acquisitions/development with 2 years of non-related work experience and a bachelor of arts (economics) for my UG. I've been applying to jr fin and fin analyst positions, and I've been going through the interview process for a Jr. Financial Analyst position in acquisitio...
3
+10
Housing Prices Rise at a Cost: Fourth Straight Monthly Decline in Home SalesCNBC released [an article](https://www.cnbc.com/2018/08/22/us-existing-home-sales-fall-for-fourth-straight-month.html) describing the current state of the housing market: * Rising building materials costs, as well as shortages of land and labor, have left builders unable to bridge the inventory g...
30
+3
Off-Market Northern CA Land DealHi WSO, I have off-market commercial land available in Northern California. This deal could work for a land bank buyer that can close on the property by the end of this year or for a developer that wants to entitle and master plan the site. Price range $50-100MM. The Seller may need to 1031. Please...
16
+1
Fannie/Freddie college associate programFannie and Freddie both started college associate hiring this week, apply online Last round Freddie hired ~30 analysts for multifamily and many many more for single family and Capital market...
2
+1
Real Estate LondonAny thoughts on the likes of CS/Barclays for RE in London? Work that they do, reputation, culture etc....
1
+4
Yield-On-Cost (development yield) Hi, I've seen discussions in this forum regarding yield-on-cost (development yield), and saw the proper calculation should be: NOI (stabilized year) / Construction cost What bothers me is in this type of calculation, that we don't take into account the number of years in which the property will co...
17
CBRE - Review - Capital MarketsSmall market Lots of opportunities Very active real estate wise Small teams, good exposure Possibility to rise quickly. Very cut throat environment Eat what you kill Long hours Pretty individual Not bad really, just something to know beforehand. All good to me...
+3
applying to be a brokerhi all, I've always been on the buy side, so I have no idea about becoming a broker. My wife would like to become a real estate salesperson and then later broker in CA. I've been really struggling going through all the materials on the CA Bureau of Real Estate pages trying to make sense of the appli...
5
+7
Post Grad ActivitiesHi all, I'm in need of some recommendations on ways to beef up my resume post undergrad. I've always been pretty heavy on the extra curriculars, from Elementary to College and now that I'm out I am lost. After a recent job interview, it became apparent to me that most of the stuff I talked about/ ...
26
+4
World Class Capital Group?Anyone have any experience working at or working with World Class Capital Group either in Austin or NYC? I've been Googling a bit and read mixed reviews and not sure what they are all about....
51
JP Morgan Securities - Interview - Commercial BankingMost difficult interview question was - If you could create an app, what would it be? Definitely requires creativity on the interviewer' part. Other question that was asked and was a little more manageable was - When was a time you had to think on your feet? I've done many behavioral questions in t...
+2
CRE broker who just passed the CFA exams. Now that my CFA journey is over, I'm a little lost.I apologize if you have already read my post before from another website but I casting a wider net to see if I can get some additional ideas. Hi, I feel a little weird asking for life tips on Reddit but here goes... Quick background: I graduated with a BBA in Finance (it's a US top 30 business scho...
8
+2
occupancy required for agency financingmy firm is selling a multifamily property. any idea what occupancy is required for a prospective buyer to attain agency financing? getting conflicting information from brokers thanks in advance....
10
Freddie Mac - Review - Credit Risk-good hours and pay -very good 401k Steady promotion Job security Can go work for seller servicer at anytime for higher pay if you want. Overtime during busy season Pay is not as high as sellers Living cost is high in tysons area Reallly not much cons ...
+2
Wells Fargo Seeking Two Commercial Mtg Associates - Job OpportunityHey guys, Just went through the most recent issue of Commercial Mtg Alert and thought I'd share a job opportunity for any looking. See the exact words from the issue below: "Wells Fargo is seeking two commercial mortgage associates to join its multifamily capital team. One opening, based in New Y...
3
Freddie Mac - Interview - Securities UnderwritingThe interview questions were not hard because the interviewers were genuinely interested in getting to know me and see if I fit for the job. They thoroughly went through my resume and asked on some parts that seem relevant to the job requirement. No questions were difficult to answer. The interview...
+5
At what point does CRE pay become decent compared to workload?I'm working for a fairly large firm in Canada, in CRE. I'm not exactly a veteran admittedly, but I'm not brand new either. I'm wondering, at what point does salaries actually become comparatively decent to workload? Don't get me wrong, I'm not paid peanuts, but the workload is kind of huge. Like, at...
17
+2
Basic Question- vacant space recoveries/rentWhy do we include "vacant space rent" and "vacant space recoveries" when we calculate our income? Our underwriting model at work has those two line items before we get to vacancy loss and EGI. But if we are strictly looking at in place numbers, then if a space is vacant, why do we include hypothet...
5
+4
Incoming Acquisitions Analyst in the Northeast Multifamily value add space looking for tips/guidance/adviceLong time lurker, finally secured an Acquisitions Analyst position at a lean shop investing in value add/core multifamily/apartments in the Northeast. I already purchased Peter Linneman's book which I have been reading through and the REFM Apartment/Multi-Family Building Acquisition Financial Model...
6
+4
Non-Finance Related Degree How much trouble will I have finding a finance related position in this industry with a BBA in computer information systems? The degree includes general business courses but nothing RE finance related. I'm seeing an adviser next week that might be able to make an exception and get me in the RE finan...
12
+1
Harrison Street Real Estate CapitalDoes anyone have any insight into this firm or experience interviewing at Harrison Street for acquisitions? Exit Ops?...
1
+1
Rural Development and LIHTCWe're valuing a rural development portfolio for one of our clients, and I was wondering from you guys who are in LIHTC shops on here how you make sense of these deals if the QAP has a high hard costs per unit threshold. Is there a way to negotiate this down? In the state we're valuing the portfolio ...
1
+2
West coast MSRE/MRED programs?My friend is looking at MBA programs and MSRE programs on the west coast. He has no experience in finance or real estate. What programs are his best bet to transition into a real estate career even if it's to an analyst position? USC MRED requires too much real estate work experience. Pepperdin...
6
+1
SFR Lot Development/Master Planned Community FinanceDoes anyone have any good resources/tools for SFR lot development/master-planned community pro forma modeling? I am willing to trade for w/e you may be looking for. Also - can someone outline how to model a lot release provision into forward cashflow?...
3
+6
Pepperdine MSRE: Any InfoHey everyone- I’m currently an undergrad student in a Southern California and also work full time in residential brokerage (as an agent, will get my broker’s license in a few months) full time. Long story short: I want to move into commercial development and am weighing out my options. Pepperd...
18
+1
Investing in Real Estate after Natural DisastersWith the onslaught of Hurricane Florence, I'm interested in learning about if anyone has invested in real estate (single family, multi or any other product type) after a natural disaster. Assuming that a couple of people have some background doing this in Florida, Houston, NOLA, etc. The following a...
2
+3
development to acquisitions or REIB?I have lurked for about a year but never posted so bear with me. My background: I recently graduated UG with a great GPA from a pretty good state school. I interned for ~8 months at a very reputable niche development group. Ideally, I would love a role in acquisitions at an owner/operator or for ...
17
0
deleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleteddeleted...
2
+1
Real Capital SolutionsIs anyone familiar with these guys? Family office/PE firm out of Denver. Any details would be helpful. https://realcapitalsolutions.com/...
1
+4
Is investing in Istanbul real Esate is good idea?As we all know istanbul is the one of the most beautiful cities in the world and fav international destination for many to travel, or business or vacation. I am thinking to invest money in Istanbul Real Estate, so if anyone can give some insights views on this or have any experience of investing in ...
10
Goldman Sachs - Review - Real EstateThe group is very collegial group, everyone gets along very well and is always willing to help out. Senior management is also really friendly and social. Excellent group culture, among the best I've experienced. . The group isn't a first mover and sticks to what they know (traditional asset classes)...
Morgan Stanley - Review - Real EstateThe best thing about working at Morgan Stanley was that you get close with you coworkers and there are lot of corporate outings, such as baseball games.. A big con about working at Morgan Stanley was the rigid, hierarchical corporate structure that the company promotes. ...
+1
Analyst follow up interview (debt/equity placement)Can anyone provide any insight/advice on a follow up interview with an office head at a national debt/equity placement shop in a primary market? I have had several phone conversations and an in-person interview with 5 or 6 producers on the team. My next meeting is with the office head. Also any ins...
6
+64
What is your compensation in Real Estate Finance?I cant find much in the way of compensation for real estate other then the summary page from the HR consultant that is floating around here, so I thought maybe people will be willing to describe what they do, their market, and what their compensation looks like. Industry: Real Estate Development ...
316
+5
Life as a CRE BrokerHi All, I was initially looking into becoming a RE Analyst but haven't been able to shake the want to become a CRE broker since learning more about the industry. Would current brokers be willing to share their current RE type, how many deals they close on average a year, and experience building the...
15
+3
Which is your preferred property type?Just like the title states..... What is your preferred property type that you enjoy working on. Additionally, why is it your preferred choice? Curious to see what you guys have to say, specifically those that have been in the CRE industry for a bit....
7
+1
GSE/DUS Lending Exit OpsFor those who worked in the GSE/DUS lending arena, what are some exit opportunities to look at pursuing? I've been on the production/underwriting side for awhile now. I like it but now I am wondering if it is for me in the long term. I'm willing to slow play it out, but not sure what exit opportuni...
4
+2
KKR - Associate Position in New York - Job ListingThought I would share this open position to those of you on the east coast currently looking. I saw this in a recent issue of the commercial mortgage alert. The blurb said specifically, "KKR is looking for an associate to join its real estate credit group in New York and assist with underwriting br...
1
+1
CRE companies focused on adaptive re-use I am a senior in college and currently in them midst of my full-time job search. A topic that has really fascinated me recently has been the renovation and re-development of older buildings whose useful life has ended, or "adaptive re-use". I have been searching for firms that specialize in these ...
3
+3
MIT Commercial Real Estate Analysis and InvestmentWondering if anyone has any experience or knowledge about the 6 week course offered through MIT on Commercial Real Estate Analysis and Investment? Seemed like a very well run course, although expensive, but not in comparison to some others and considering the brand name. I am an incoming junior look...
18
+1
Writing Credit Papers and Credit ReportsHi All, I am a graduate pursuing a real estate and property developing career. Following from completing an development appraisal on a office to resi conversion project as part of an interview assessment, I have been asked to “list all the other elements to include into a full credit report(i....
1
+4
Industry term for small ass cities? I'm writing my resume after my summer internship at the moment, and I did some work on some properties that are not in major cities (but still large properties $10m+). Is it called "tertiary markets"? Here's my sentence: • Assisted in creating CIMs for properties in tertiary markets by conduct...
12
+13
Costa-Hawkins Repeal (California)Any of you nerds tracking it? Looks like it will be on the ballot in November (should be confirmed by June 28th). Could be bad news bears for a lot of California resi guys (yours truly included). Considering buying the July puts on Essex....
55
+2
REIT InterviewI have an interview tomorrow with one of the nation's largest REITs. The role will be a Senior Analyst position on the Strategic Initiatives team. I am expecting some technical questions along with the traditional fit questions. I am looking for some advice regarding what to expect on the technical ...
1
Cushman and Wakefield - Review - BrokerageGreat culture. Fun place to work. Good group of people. Lots of young coworkers. Exposure to top real estate owners.. Little clarity on how bonuses were paid/calculated. Little clarity on how titles/promotions worked. ...
Morgan Stanley - Interview - Real EstateThey presented a short case study of a real estate acquisition opportunity. They would then ask me to calculate the IRR, ROE of the property. They also asked questions about the concept to make sure I really understood the concept as a whole. They also asked several fit questions about real estate a...
+1
Meridian Capital Group (Training) / "Meridian University""Since starting in March 2013, Brian and Meridian's corporate training program have minted more than a dozen top-tier commercial mortgage brokers. In almost three years, the program (dubbed "Meridian University") has trained 16 in-house associates who have closed approximately $700M for clients, wit...
4
+1
RE Modeling Test - TRADEI enjoy practicing my modeling skills with these tests when I have (lots of) spare time. PM me if you want to trade tests and follow-up on our answers/models to compare and learn....
1
NewMark Grubb Knight Frank - Review - Real EstateI think the setup was solid. The benefits were strong and the salary is great for a first year analyst. . Cons: Long Hours, no upward mobility, challenging bonus structure compared to other groups within the company. ...
NewMark Grubb Knight Frank - Review - Real EstateReally solid exposure to different real estate deals and structure. Work flow is absolutely ridiculous, I couldn't have expected to see come across the amount of deals I do . The hours are long, and as upper level management leaves its hard to get a good mentorship experience without learning on you...
+2
Where do you draw the line with the definition of anchored or unachored retail?When you have a neighborhood center with a national department store, grocery/drug store, you could call it an anchored center. But, I am underwriting a neighborhood center where you have a newer local arcade/play space for kids that occupies 25% of the center and then next you have wells fargo bank...
6
+4
Off Market PropertiesI have seen so many different meanings of "off market properties". I have seen the traditional buying a property with no broker, and I have also seen a property listed but says "off market". Whats your take?...
15
+1
J.P. Morgan Asset Management- Real Estate Superday I got an invite last week for the JP Asset Management Real Estate Superday in NYC. I haven't been able to find anything online in the way of past questions or what to expect, so I was hoping for some insight. ...
1
Blackstone Group - Interview - Real EstateNothing unexpected or difficult. Simply was asked to explain experiences I had written down on resume. ...
+1
Nation wide provider of environmental and engineering reports need leads to help hit my sales number.Need some referrals to help hit my numbers. I work for a National Consulting Services Firm that provides environmental (Phase I ESA) and engineering reports (Property Condition) for you deals or portfolios please private message me I will get you pricing. Thanks!...
1
+2
Is it at all normal for a GP to have an LP be a co-signer for a recourse mortgage loan?In the deal that I've been posting about, pertaining mostly short-term rental properties, the GP is saying it's tough for them to get a mortgage without their LPs co-signing to be on the recourse loans. I'm not sure whether that's standard at all or totally wonky....
7
+7
Career Path to become a Real Estate DeveloperI'm thinking about getting a Real Estate Development Certificate that my school offers. It's four extra classes and wouldn't delay my graduation. The only downside is I pay an extra $2000 for tuition, and it might hurt my already fragile GPA. I'm also thinking about getting my MBA or MSRED if nee...
31
+7
Real Estate Investment BankingIncoming Senior at Target Non-Ivy looking to enter REIB. What are some groups that should be on my radar, whether it be RE groups at BBs or more boutique firms. Relatedly, if my end goal is REPE, is REIB the most logical first step or should I be looking into AM at a bank or REPE firm. Any informa...
134
+3
Need to ace REPE Model Test on Tuesday - best prep/coaching?Hi guys, I am interviewing for a post-grad analyst position at a REPE in Europe next Tuesday. It's a third round interview and will include a 2h model test. I know that it will be an acquisition and I am supposed to build a "dynamic cash flow model including a rent roll (existing leases, renewals,...
7
+3
Percentage RentDoes anyone know how they model out percentage rent in operating/revenue proformas? Not the mechanics, but how to you arrive at the sales number with which to take a percent of? Do we ask the lessee for a 5-10 year operating proforma? Do we use market comps?...
6
Cushman and Wakefield - Review - Real EstateSmart people to work for and work with. Lean team, great culture. Great deal flow and learning experience. Opportunity to take on additional responsibilities. . Upward growth is somewhat limited given the brokerage nature. Occasionally there are some confusions coming from the corporate level. Not t...
+1
Buying Ground LeasesI'm assuming there are firms/funds that have a specific investment strategy of purchasing land that is ground leased to the owner of the improvements. Is there a specific resource one could use to determine which properties in a specific geography sit on ground leases? It seems it would be a much ...
19
+6
What is the next big threat to CRE?Just thought it would be good to brainstorm on this. CRE is at a high and regardless of fed hikes, it doesn't seem like cap rates are increasing. Investors are willing to take smaller spreads. At what point will the market turn? Is there a black swan coming? ...
34
+1
Switching from Creative Advertising to Real EstateI'm trying to break into commercial real estate from creative advertising. I became obsessed with real estate investing about 2 years ago and even bought a SFH out of state as an investment property. I want to work in CRE to gain a lot of experience and eventually start my own firm that handles comm...
1
+8
Real Estate "Investment Banking"Hello all, I'm curious about what Real Estate "Investment Banking" might be all about. I use quotations because I do not know if this is actual investment banking. I work at one of the 3 brokerage houses as a MF capital markets analyst and I see that our firm has a REIB division and the job posting...
25

Pages