Silver BananaTopicReplies
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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...
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Rent Stabilization - NYC MultifamilyAnyone familiar w/ NYC MF who could explain how this works? My group doesn't do much in NYC and I just got this deal sent to me a few hours ago. My understanding is that tenant's receive a right to renew and the LL can't re-lease at a rate that represents a percentage increase greater than that pr...
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Cumming CorporationHey everyone, I really appreciate the great info on this forum. I'm looking at an opportunity to be a Project Engineer/ Coordinator at Cumming Corporation in a major market (LA/SD.. my name pretty much narrowed that down). For reference I am currently an Undergrad Student and my end goal is Develo...
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Dwight CapitalWhat do people know about Dwight Capital? As in more info about the firm, interview process, office environment as well as exit opps from a company like that. Any relevant info would be very appreciated....
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Equity Structures Hey Guys, Just Looking to learn about various equity structures in Real Estate. Besides equity waterfalls are there any other equity structures you see come across your desk often on the Acquisition or Development side? Whether it be PE or not. Just looking to learn. Thanks. ...
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RE Finance to AM/ConsultingI'm currently interning for a real estate developer doing market feasibility work and creating proforma models for potential investments/developments. I like the work I'm doing but not positive it's something I want to do my whole life, so I potentially want to get some broader experience doing cons...
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Real estate guidance as an undergrad I’m currently in undergrad and I am interested in real estate. Do any of you have recommendations on different resources I can use to learn more about the real estate industry? I know this is really broad, but I feel like there are so many different paths (development, brokerage, REIT, etc.) that ...
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Morgan Stanley Investment Management- Real Estate Investing SA 2019Has anyone had an interview for this SA position? This would be a first round. Any insights would be greatly appreciated!...
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Help Needed - got a new offerHello, I've recently received an offer from a small REIT. Given the team is small, this role will be covering basically everything - UW, AM, due diligence, reporting, etc. The comp isn't ideal - about 20k less than my current role. I am currently working in Big4 valuation. I have been actively l...
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Post-MBA positionsWhat kind of positions/seniority can an MBA grad expect in REPE? Ignore the lack of consistency among titles in real estate. What kinds of roles/responsibilities become available (esp. those that recruit on campus or favor MBAs) Assuming you have analyst-level acquisitions experience, would the MBA...
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Development Analyst Exit Ops - When Should I Begin Looking?Development Analyst at a REIT I have been on the job 1 month now, but ideally I'd love to go REPE and do more investment related work as well as see a bigger paycheck. All in, first year, I will make $80K, what can I expect as a 2nd year either here at the REIT, or at another firm?...
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Excel Formulas you use constantly on the job?Was wondering what formulas most of you are using on the job? Thanks. I have excel tests that I will have to do for some final round interviews so was wondering if there are any recommended websites to practice....
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Opportunity Zones in New Tax LegislationIs anyone out there looking at the new tax law's Opportunity Zones? How do you think the regs will shake out, and in what time frame? What's your take on how much interest they will generate? Is the deferral of cap gains sufficient to attract investors?...
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REFM Private Equity Fund Modeling Self-Study CourseAs most of you probably know, GetREFM is having its end-of-year 50% sale on self-study courses. I've purchased an acquisition and development from the website and was happy enough with them (a couple of the more complicated formulas the narrator doesn't do a great job conceptually explaining them)....
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Fannie Mae - Interview - Real EstateMost of the interview questions revolved around fit and whether I would be able to work well with the team. Some of the questions were, how do you deal with people who either not sending you the right information on purpose or they don't know how to send the right information in the first place? Ano...
+1
Appraisers - What is the pay scheme?I am a summer intern at a well-known CRE firm in a large city in Canada. Being a finance major I am looking at the appraisal/ valuation side of the business, and am curious about the process in which you get paid in comparison to the brokerage side of the business. I constantly hear the salary + co...
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Real Estate Investment Analyst Interview - Intelligent QuestionsHi Everyone, I'm interviewing at a commercial real estate firm soon and was given the advice to ask questions about their capital partners (they work with a lot of pension funds). However, I can't think of any intelligent questions to ask. Any help you could offer would be fantastic. Thanks....
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Career Info - Multifamily Asset ManagementI'm interested in learning more about a career move to **multifamily **asset management. I've tried to search but haven't found much on this website. Curious about: * Life on the job * Compensation (I checked out CEL Associates Report but it is difficult to decipher. For example, Top Multif...
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Summer Internship/Analyst 2019 Questions 1. When does recruitment begin? I have seen a few threads lately of people talking about upcoming interviews for Summer 2019 positions. Isn't it a bit early? I thought only IB recruited this far out. 2. If I start sending my resume out now, is it appropriate to list a relevant course I have not ta...
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REVPAR International: HOSPITALITY ADVISORY & ASSET MANAGEMENTAnybody ever heard of them? Seems like an interesting company performing within the hotel space. Can't find anything on Glassdoor or any other site like that...per LinkedIn, couple people went from REVPAR to some big flags in Feasibility/AM etc. http://www.revparintl.com/index.html Typical questi...
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Received an offer, need help decidingI received an offer at a small residential/multifamily development/acquisitions company but have to decide between that and 2 other companies. One of the other companies is a multifamily asset management role at a small company and the other is a senior living asset management role at a fairly lar...
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How to convey knowledge and interest in real estate on resume?I have been applying for analyst jobs since March since I graduated in May and have only gotten 1 interview out of 100+ applications. I think part of the issue is my only internship ended up being more administrative assistant/property management instead of analyst like I was originally told. I did ...
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Market Research ReportSo I am doing a market research report for a specific neighborhood in the Bronx for my job. The only paid resource I have access to is CoStar. 1. What info should I be putting on this report/ Where should I be getting this info from? All advice is very appreciated. ...
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Resume Critique for Senior Who Really Wants to Break Into Real Estate?I'm finishing up my summer internship and I need to start preparing myself for fall internships at any RE firms. Can you guys critique my resume and be brutally honest on what I would need to improve on ? imgur(.)com/gallery/ayyeBgG Also, any recommendations for companies that I should be aiming ...
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MBA Programs for Real Estate To all Real Estate Finance professionals out there. I am applying to B-School next year and would like to concentrate in RE. Would you agree these following MBA's have the strongest RE programs with strong RE recruitment for IBRE and REPE? 1, Wharton 2. Columbia 3. NYU - Stern 4. Northwestern - Ke...
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PwC PricewaterhouseCoopers - Review - IndustrialsFlexibility. Fruitful and great learning experience. A amazing place where you can build up your career.. Underpaid. Repeative sometime. Your work experience is entirely depend on who you work with/for. Meaningless stressfulness (the nature of the business)...
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How to Convince My Boss to Include Excel Modeling Into the Job?What's up everyone, first time post here. So to summarize, I currently work at a large real estate firm and work as an analyst in their multifamily department. My job mainly entails managing a large portfolio of mortgage loans and monitoring/reporting their operating statistics, as well as analyzi...
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Jones Lang LaSalle - Interview - Real EstateTo be honest there weren't any difficult or unexpected questions that they asked me. I was probably overly prepared for the phone interview with the managing director for brokerage in the entire state but he didn't ask any questions that deviated from your normal behavioral stuff like why real estat...
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Houston Private Equity Real Estate Firms Currently working at a family office PERE firm in Austin, Texas - interested in jumping to Houston for a number of reasons. Wanted to start doing some diligence on private equity real estate firms in Houston. Any ideas of shops in town? A couple that come to mind are Hines (investment arm), Lions...
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Open RE Apps?Besides CBRE and Jll, what are some other RE Firms (both PE, consulting and larger shops) have summer apps open for 2019?...
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CBRE - Review - Debt Capital Markets-Reasonable work life balance (for the most part) - Lots of responsibility - Varied deal structure / asset classes . - Bureaucratic - Lack of communication about what is expected from seniors at times - No formal training process ...
Marcus and Millichap Real Estate Investment Services - Review - SalesOne of the best training programs for brokers. New York office is a very collegial atmosphere and nobody really feels like their working for a higher up. Brokers work very hard as they are the only office in NYC that cold calls that sources their own deals.. Brokers paid by commission and make virtu...
Marcus and Millichap Real Estate Investment Services - Review - GeneralistGreat environment and very laid back. Nearly everyone you talk to wants to help as it is a tough business for noobs. . Salary very low as the majority of firm is based on commission. Benefits make up for this is some way I supose...
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Tips for sorting broker rent rolls?Does sorting messy rent rolls drive anyone else crazy? Looking for any tips/tricks you all use to sort through the messy rent rolls! Would really appreciate any insights ...
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Marcus and Millichap Real Estate Investment Services - Review - Debt Capital MarketsVery laid back job where I got to work directly with an executive and learn a lot. Overall very beneficial while modeling.. Sometimes have busy work such as data entry. Building out an entire database of contacts which utilize a CRM....
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Cushman and Wakefield IPOWanted to find out what everyone thinks about the Cushman IPO? After the weak IPO of Newmark do you think that they will also come up short?...
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Colony Northstar Sucking Wind Anybody have some specific insight as to how and why Colony has gotten absolutely smushed post-merger? Their share value has declined over 60% and FFO is like 30% under prior estimates. Curious how they could miss the mark so widely and if there is anything to learn from their missteps. ...
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Switch from Investment Banking to Commercial Real Estate?Is making the switch from an investment banking job to a commercial real estate job realistic/easy? I am a college student considering investment banking, however I think if i dislike investment banking I would pivot to commercial real estate. Is this something people do?...
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What are the amenities should be engaged in your gated community?When you visit any of the property builders and developers, they tend to have a big array of facilities. But what are the necessary [amenities](http://galleriaresidences.in/amenities/), which should not be missed out in the list?...
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Greystar: culture, comp, exit opps?Hi all, Wanted to see if anyone had feedback on this firm at the analyst level on the investments side. 1. Culture 2. Comp 3. Exit opps 4. Other info Any help would be greatly appreciated ! I know they are a decent sized real estate firm; not sure if they focus on private equity investments or ...
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Why do you enjoy working in real estate private equity?Hey guys, Why do you enjoy working in real estate private equity and why did you choose this career? Do you also think that real estate debt is interesting, if yes or no why? Looking forward to your comments...
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Overview of RE, IB, AM, and PEHi all, I'm currently a junior lawyer in Canadian big law, specializing in real estate acquisitions, development, and leasing. Lately, I've been thinking about a career switch. I've been been looking at applying to analyst/associate positions in real estate investment (e.g., investment analyst pos...
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RE Firms to apply for SA 2019?Besides the usual (and extreme Blackstone, Starwood) Jll, CBRE, What are some other Chiraq or NYC firms to apply to for summer internships for 2019 that actually consider Big 10 State School kids? Also, what are some that are DONE w/ recruitment and simply have yet to update their website's app?? Ne...
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Single Tenant Retail Development ModelDoes anyone have a single tenant retail development model that they can share? I'm helping a buddy of mine on the analytics for a single tenant NNN JV he's attempting to put together. The seller will be contributing the land as his equity basis and my buddy will be putting up the remaining pre-const...
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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....
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Anyone have experience with private investment platforms like Cadre / EquityZenCurious to see if anyone has experience using these platforms (i.e. investing in private real estate / later-stage private companies)?...
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JV PartnersAnyone have a list of JV Partners that they are willing to share? Institutional players in all asset classes?...
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PERE: What's your carry?Would be interested to hear any disclosed figures + outline of AUM of your fund. Also after which year it is attainable. Thx...
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PJT Partners - Interview - Real EstateNo question was really difficult. It was mostly behavioral. They asked why I was interested in real estate and why I was interested in Park Hill. They also were focused on my interests, asking me about basketball and what I did for fun. Because it was a small team, I guess they were looking for some...
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Debt and Structured Finance Brokerage Exit OppsI am currently about 6 months into my first full-time role working as an analyst on a debt and structured finance brokerage team in a major metro area. The group has relatively robust deal flow and my day-to-day responsibilities include performing due diligence on potential transactions, as well as ...
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Using PACE loans as Mezz Had a group come in an pitch us yesterday about using a PACE loan as the Mezz debt on a ground up deal. The loan sits on the tax role instead of the title. The rate they were quoting was 7% vs the 14% mezz rates. The loan term is also based on the useful life of the clean energy items that are added...
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CBRE - Review - Real EstateGreat program with weekly guest speakers and events Treat you like a full employee depending on your group. Work can be slow depending on the year Wide range in intensity between different teams Rampant nepotism...
+7
Eastdil RE Analyst Interview Coming Up - Excel TestSo I have an interview coming up with Eastdil for an Analyst position and was told I will need to be able to create a full DCF, with levered/unlevered IRR, and a full amortization schedule. Was hoping that someone might have some materials either specific to Eastdil or anything else that would help ...
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How can I learn about the inudstry as a complete beginner? (Possibly stupid question)Apologies in advance if this is a dumb question. So, I'm currently a law student and my goal is to enter a field of law that doesn't pay well, and on top of that a job that pays even worse (it's a dumb passion thing. Don't ask.) Things being as they will be, I'm interested in ways of supplementing ...
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Projecting Op-ex for Value-add Obviously, this will vary for product type, but I'd love to hear how other monkeys who are w/ value-add funds go about projecting stabilization over several years, if for example, you're looking at a property that is currently 50% occupied. My thought is that items like property tax, insurance, an...
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CBRE - Review - Portfolio Management- Great company brand to start in CRE - Office in Chicago is in a great location - Learn from Industry leaders - Work across multiple industries. - Not structured - Lack of mentorship opportunities - Projects get monotonous - Lot of travel to client sites is expected, no reimbursement for travel ...
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How do I respond to people asking for my resume while networking? I've been reaching out to people in the industry to network with and talk to about what they do, how they got there, etc. How do I respond when they ask to see my resume? Yesterday, I had a guy on the phone and he said I should send him my resume so he could pass it on to his MD. Now, another guy to...
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Mezz Debt vs. Traditional Debt FinancingAll, recently spoke to someone and they mentioned they were getting an uptick of interest adding mezz debt to their deals that might look a bit more attractive than the rising rates of traditional financing alternatives. What are you seeing in your particular markets/asset classes in regards to th...
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Goldman Real Estate Groups--Private Real Estate vs MBD REPIAAs the title states, can some shed some light on the difference between the following two groups in terms of comp, culture, business plan, day-to-day? 1. Merchant Banking Division: REPIA 2. Investment Management Division: Private Real Estate Group The two descriptions sound similar enough in terms ...
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Starwood Capital Group 2019 Acquisitions Video InterviewGot an email to complete a video interview and it says it will take about 18 minutes. All of my other video interviews have been less than 10 minutes so I am trying to gauge what kind of questions to expect. Any technical or all behavioral/ fit?...
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shot in the dark here, would appreciate any helphi guys, I know this is a very long shot, but would anybody here have an appraisal for a data center by any chance? I would love to read it. Atleast the market info and the valuation information. Will be grateful for any help, thank you so much!!!...
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Pepperdine MSRE any Value?It seems to have a very practical applications based curriculum. I understand it is a lower ranked school, but could this help snag an acquisitions analyst position? ...
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Do's and Don'ts - First Time Analyst Gig on the HorizonI landed my first analyst job with a major CRE firm (think JLL, HFF, Cush) in a major market and it feels great. Coming from a non-target school and having to face 7 months of frequent rejection, I can finally say I found exactly the right gig working on my desired asset type (office). With that b...
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Help Deciding Between Real Estate TextbooksI've decided I want to pick up a textbook to read and develop a strong fundamental understanding of Real Estate finance and the Real Estate market in general. I'm trying to decide between "Linneman Associates: Real Estate Finance and Investments 5th edition" ($150) and "Real Estate Finance and Inve...
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ReonomyJust saw that this co. raised $30mm in VC funding. Hadn't heard of them before, but a little bit of research makes it sound/look like it's basically CoStar? Has anybody used it? What are your thoughts on relative merit vs. CoStar?...
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Negotiating Participation - Boutique SoCal Development shop I currently work at a boutique RE investment/development firm specifically focused in Souther California. When I say boutique I mean *very* boutique. Besides our back of the house operations (accountants, property managers, etc.) it is the principal of the company and myself doing all the deals. The...
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2018 | Thinking about Acquisitions or Debt at this point in the cycleHow do you all view going into acquisitions at this point into the cycle or going into a private debt fund? Do you have reservations making a move? Or are you content going into either or if it's a big enough shop?...
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Exit Opps for entry levelI think this would really give me insight on which path i would like to take as well as help others. I am considering a few opportunities and wanted to know potential exit opportunities for reach, as well as their salaries, ALL NYC Acquisitions Analyst (Family Office): would learn a lot as it is on...
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Goldman Sachs - Interview - Real EstateTell me about yourself? Why real estate? Why Goldman Sachs? Given a capitalization rate, net operating income, loan-to-value, and interest rate, how would you calculate the unlevered yield and levered yield (aka cash on cash return)? Talk to me about your last internship? How did you like it? ...
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Is there an ideal spread between Unlevered and Levered IRRs?This is in regards to a ground-up multifamily deal. Do investors (in this case, institutional equity partners) look for a healthy spread between these two metrics? I would imagine if the levered IRR and untrended yield-on-cost meet investment criteria, the unlevered IRR would not matter. The boss ha...
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Interview coming up w/ CBRE/JLLI have an interview coming of for a RE Finance Intern position. What can I expect in terms of questions and excel test? ...
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A10 CapitalDoes anyone know much about A10 Capital? Any brokers have experience interacting or closing with them? Any borrowers have experience with them? I've heard they are expensive and have a lot of guys running around trying to do smaller bridge deals. Good originators? Any feedback would be much apprecia...
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What are some great and also good real estate firms that I should look into in southern California?I'd love your input on some solid shops that hire straight out of undergrad down there. I'd love to be in acquisitions, but I'd also go into REIB or debt and equity placement. I'm currently interning in asset management at a private equity firm that has revenues between 1 - 2 billion in the east c...
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CRE Finance - BB Lending groupsWhat is the deal flow currently at these groups ie MS, JPM and what are FT interviews like? Thanks!...
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Investment Sales CareersDoes anyone know of any brokerages that offer some sort of salary to entry level investment sales/capital markets brokerage roles. I believe Newmark does as well as Ariel Property Advisors....
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NewMark Grubb Knight Frank - Review - Real EstateInternship program was run very well and organized. They really treated the interns as full time employees.. Wish there was a entry-level rotational program for college graduates that some of the competitors have....
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How to buy a house? Hi there, I am doing research on real estate available source for buying a house. How many real estate company outside there? If I got a real estate license, which real estate company I should work with?...
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ARGUS Certification - Which Study Materials to Use?I have bitten the bullet and signed up for the AE Certification course. My question to those who have already gotten the certification is whether the eLearnings and certification book are both necessary or if I really should just be spending my time on one of them and not waste it with the other? ...
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U.S. Garden Style Value-Add Multi-Family Case StudiesDoes anyone have any U.S. garden-style multi-family case studies that they would be willing to share? Ideally something that spans the whole cycle from acquisition, repositioning, to disposition....
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Anybody here use Fuel CRE or Assess RE as Argus Alternatives? Fuel CRE- http://www.fuelcre.com/ Assess RE-https://www.assessre.com/ Any feedback, thoughts? Appreciate it. ...
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Cap One/Freddie Mac/Walker DunlopIn the interview process with 3 companies in underwriter or asset management positions: Cap One Freddie Mac - 2 positions Walker Dunlop Right now I might have a favorite but haven't been sold on one yet. Any thoughts on the companies, progression, pay? Any recommendations would be helpful....
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Rent or SellHi, I purchased a rental property 4 years ago for 72000 cash. My tenant just moved out. To date I have recouped 57000 dollars in rent (after taxes, etc). Therefore, if I make another 15000 I will have recouped my initial investment. I am trying to decide if should sell the property at a projecte...
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Residential LendersCurrently conducting diligence on a Residential Debt Fund who would provide 60-70% Leverage to Homebuilders. While this is obviously a large subset lender industry, I am less familiar with the largest players in this space. Therefore, would be interested if anyone in this forum had some experience w...
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Anyone need a job in Westchester, NY?My company is looking for Acquisition and Asset Management Analysts. If you are interested feel free to message me. Some of the requirements are below: 2-3 years of full-time experience in finance, or real estate with a high proficiency in Microsoft Excel and Argus. ...
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Real Estate SMMReal Estate Agents and Brokers What social network do you using the most for lead generation and/or sales?...
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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. ...
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When to start the job search (in college)Mods, please don't move this to the "job search" section as the answer to this will vary by industry a bit. I'm going into my senior year of college and will be graduating Spring 2019. Should I start searching for positions during Fall semester? During Spring semester? Trying to see how much time ...
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Who here invests in Data Centers?As title says. Development or acquisitions. Would enjoy hearing more about it. Definitely an interesting space. ...
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Strategy in applying for positions that are junior to my experience levelHave been applying and interviewing the past few months since my last firm decided to shut down all three of their regional offices (including mine in SoCal). While many have commented that the job market (at least in SoCal) has been fairly healthy compared to other markets, it seems like most posi...
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Life in Acquisitions (Analyst/Associate)I've had a couple of people PM me about what I do in REIT acquisitions and what the deal process looks like. I figured I'd post this for people's future reference. I work at a fairly large REIT (>$10billion AUM) so this process may be different for smaller shops. We also exclusively focus on CRE: ...
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