Dear Fellow Monkeys, Just wanted advice on how to solve this issue. I've been tasked many personal/assistant matters like today, getting pulled to a meeting just to bring olive oil possibly for their lunch and I'm aware of what an analyst job might entail a lot of times. I've...
Theres no statistical evidence for this but, why is real estate second to most other financial services jobs? Most people in business school are primarily looking for <abbr title="investment banking">IB</abbr>, consulting, <abbr title="asset...
What has been the biggest lesson you learned this year in your RE career? Has anything surprising occurred or any interesting moments/events/trends you’ve come across at work and witnessed in the estate field? How other players are reacting to the market? 1st year at your current job or...
Feel like it's worth giving an alternate opinion, just because I see so much of the same notion repeated constantly that acquisitions are the best gig in real estate. What I do right now is 75% acquisitions, but I've worked on a lot of development, <abbr title="asset...
Hi all..I am an MD at a shop and my new Analyst is now refusing to bring me olive oil during my lunch time anymore. He use to do it no problem but is now giving me a hard time. I’ve been marking up his pitchbooks and models for shits and gigs with fake markups. At the end of the day, I just...
*THE GOOGLE DOC IS GETTING TAMPERED WITH AND CHANGED* shouldve expected it. So I created a google form and the link is below. If you submitted your info on the excel just fill this out. It literally takes 2 seconds and then every night ill post the line by line...
More specifically if possible, which neighborhood and asset type? Value add, development or stabilized play? Wonder what everyone’s investment thesis is regarding the environment we are in today. You are the President of your own shop and get to call the shots. What city are you buying in?
I just did an [AMA on becoming a RE developer](https://www.wallstreetoasis.com/forums/ama-non-target-career-changer-to-vp-of-development). This is a follow up post to how I did my own deal as an analyst... ####They laughed and told me “sounds great, good luck”. Searching loopnet on a...
Always found REPE compensation info to be spotty so looking to share. Market: <abbr title="New York City">NYC</abbr> Experience: 7 years Role: Acquisitions Firm Size: $7B AUM Salary: $150k Bonus: 70%-100% of Salary Carry: N/A Hours: 45 hours/week
For many of us who are still younger on this page, it is an intended goal to become a principal. As I think it would be very helpful, for those who are principals (on the younger side): * How did you get to where you are now? * What route did you take career-wise? * What obstacles did...
I have an opportunity to move to a position in my company that would be great experience and provide a career progression opportunity that I've been looking for. This post isn't necessarily about the position, because I've networked and talked with enough people on the current...
Always good to reflect and share the collective wisdom gained on this site. Really just looking for what people feel like their main takeaways and principles to abide by are, while navigating this jungle. Try and keep it to your top 3 in bullet point format for a user-friendly read. Threads on...
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...
I think this would be very beneficial to a lot of people on this forum, so if you could list your career path to how you got to your position you are currently in now from undergrad, as well as the firm or at the least the size, it would be very appreciated. Ex: investment sales (think...
I'm not trying to rehash the debate about where the best place to start is or what career path within RE is the most promising. I just would like the community to layout their position and what they feel the pros and cons of their current situations are. Extremely eager to hear what the...
I see so much hate on here for investment sales and brokerage and would like to hear from someone who actually enjoys it and why
For deals that aren't going exactly as planned, what's an LP to do? I'm curious if anyone has examples of when LP's have had a positive influence on the ultimate outcome of a project, even if they were just pref equity and didn't have much legal standing in the operating...
I’m working on a mammoth multi-part Google post and WeWork ties in nicely with the overall theme. *(To be clear, I have no opinion on WeWork as an investment - and I have zero knowledge of real estate - but I saw [this...
Commissions and fees
What is the biggest mistake you've made on the job? Curious to see how bad things have gone and how they were handled.
Ok, fellas. I'm bored to tears in real estate and am looking for new interesting paths and new challenges. What are some niche real estate products that people rarely think about? Self-storage was the trendy niche that, in my view, is now overbought in a lot of U.S. markets. What are some...
I’m 2 years out of college and have been working in GSE underwriting and now production. I read on here a decent bit about people advising to avoid the GSE groups at banks/lenders if possible. Why is that? My office does pretty much all GSE but other offices in the firm do balance sheet, Mezz,...
What I heard was Nate Paul's company World Class Capital in Austin is getting raided currently. Anyone know anything?
Would kindly appreciate your feedback. I recently joined a boutique real estate firm after 4 years on the debt site to do acquisitions and development. it's a small shop with three principals, an acquisitions manager (aka moron from hell) and me as acquisitions associate. Here is...
Assuming a recession is coming in the next decade or so, which careers in real estate are the most vulnerable? I'll be entering the real world in the next few years and this might influence my career decisions coming out of undergrad
Have seen a couple posts on here about fear of recession. Wanted to get some of you guys' thoughts on the greatest signs of foreboding in our industry. Obviously interest risks and sky-high prices in construction and assets can be worrisome, but I wanted to see what other major / minor...
In honor of this [disappointment](https://www.wallstreetoasis.com/forums/ama-cre-broker-at-a-top-tier-firm#new), I thought the community could step up to the plate a bit. I used to be a CRE Broker (office leasing, mostly on the landlord side) at a firm that people will debate about below! Ask...
You heard that right.... thoughts? See the full article [here](https://www.prnewswire.com/news-releases/jll-to-accelerate-growth-in-capital-markets-business-through-acquisition-of-hff-300814708.html).
Was wondering how everyone's job search is going, especially those with 5 to 10 years of experience. I'm currently an Associate (acquisitions & development) at a boutique investment shop in a major non-NYC east coast market. I have 6 years experience including 2 years at a...
@WallStreetOasis.com" has been invaluable to me since I decided 5 years ago to make a career change into commercial real estate (from non finance) so its my turn to give back. I hope my story can help some people. ####Background * Extreme non-target school (undergrad and MBA) *...
For those of you who have transitioned into real estate from another area of finance (or another career entirely) and those of you who went into real estate post undergrad or grad school, what mistakes did you make in your job search? What tips/tricks/websites/recruiters do you wish you...
Like the title says, I’m trying to figure out the worst first job you can have in commercial real estate. That way users can know to avoid it and aim for something equally easy to get but less hindering to your career. Based off what I’ve read here, appraisal and DUS lending seem to be...
1st-year Analyst here, MD just asked me to underwrite a mixed-use property with a cricket stadium as one of many income streams within the property. Definitely one of the strangest deals I've come across. What's yours ?
Dumpster Fire Yuppie
As one of the lucky ones that came out of college in a bull economy, getting a job was easy even with my rockstar 2.4 GPA. As someone that's planning on going back for a MSRED, i'm nervous about a possible slowdown and coming back out in a bad job market. To those who actually...
Hey guys - this group was very helpful to me 10 years ago when it was 2008 and I graduated and was looking to be an analyst from a non-target school in Texas. I started as an an investment analyst for a REPE fund. Fast forward - I found my niche in real estate syndication and have now: 1. ...
I know we've had similar threads for books (and frankly I'm sure we've had similar threads related to exactly what I'm asking), but while I was looking at various real estate youtube videos/podcasts/articles/anything a lot of what came up was trashy or just came off like an...
Owners/operators/multifamily funds, what are you guys hearing in your world? State assembly reached an agreement last night in Albany. The new regulations, expected to be signed in the law: * eliminate vacancy decontrol (ability to bring up to market-rate when tenant leaves) * limit Major...
I have been in the <abbr title="commercial real estate">CRE</abbr> industry with a top brokerage firm (CBRE, CW, JLL) for almost 2 years now as an analyst and I wanted to see what type of positions are most sought after in this industry. Brokers seem to have it pretty good...
I live in the suburbs of an up and coming area that has seen a ton of recent growth. And there are these 30+ year old apartment complexes that are long past their prime. The apartments are on excellent land have a really good location next to some affluent areas, but these apartments...
Can anyone explain the difference between carried interest, promote, and catch up, if there even is a difference?
How much do brokers actually pull in? I'm talking about your net of everything. So you pull in your commission and have a split with the company (anything from HFF/ CBRE to smaller boutique shops). Larger deals typically have multiple hands in the bucket (at least from what I've...
Anyone know of any startup or fast growing Dallas (DFW) REPE. Thinking about relocating to avoid taxes/weather. Thanks In advance.
Let's get a list going of very cool, boutique (or larger) developers. Always think it's cool to hear about these shops of just a handful of guys doing really badass projects. I'll start with a few: Scott Gillen (Malibu, CA) Plus Development Group (West Hollywood, CA) Aby...
Chicken Pot Pie
Hello All, Long time lurker, but I've had an event at work happen and would like to hear what others would do. I work in a GSE underwriting/production role In the late fall of last year, my manager of 3 months was let go. I wasn't sure of the reason, just that my big boss asked...
It was just a few months ago when treasuries were at 3.25% and it appeared that 6% interest rates were a year away...5 caps in major markets appeared to be upon us. Then it didn't happen. Since I got in the business in 1995 one thing has remained true, we never raise rates to previous...
Open to any and all. Any markets, any type of retail, any thoughts. TLDR: Where are the value opportunities you still see in today's current market climate and in the coming years? A few years ago I would have been pretty skeptical getting into the retail business. To be fair, I still...
Looks like I will be graduating without anything lined up. I have a family connection to a large brokerage and may possibly be able to land an appraisal role there, but not going to rely on that since nothing is set in stone. Anyway, what should I be doing this summer? My plan is to: 1) Get...
So things just got VERY hairy at my work. I am an analyst at a multifamily real estate development firm. I work on underwriting potential opportunities as well as project MGMT related tasks. My coworker (superior) just got an offer at another firm. His position at our company is called...
I found myself wanting to have a deeper understanding of the property characteristics of industrial buildings, and really went down the rabbit hole on research. I aggregated a good bit of information for future reference, and thought this may be of interest to others. If you've ever been...
Dumpster Fire Yuppie
Hi All, I'm coming from a fairly technical background with about 3 years of experience; 1.5 years at a major GC and 1.5 as a CM in CapX for a multifamily and healthcare developer. I'm curious about approximately what % of my work overlaps with most DM scopes would be. I've...
Obviously, there are stigmas about certain prominent industry players, especially in regards to brokerage shops. I get the prestige associated with certain firms, but for those with legitimate experience/knowledge re: working at or with Meridian: could an analyst there get similar (or even...
How did you end up at your current job? Was it through a contact you knew? Graduate school? A website you recommend? Any advice for someone who is on the quest for landing a solid job. Thanks.
I received an offer letter for a Financial Analyst position yesterday located in the company's corporate office. Currently I am working onsite as a leasing agent. The promotion would be an internal transfer which is rare considering I only have 1 year experience working onsite right out of...
I have a coffee meeting with an SVP at one of the big brokerages. This is supposed to be just a chat about the industry, but I will definitely be implying that I'd like to work there. What should I wear to the meeting? It's pretty cold out right now and I was thinking of just wearing...
In real estate, similar to wall street, once bisnow is covering a "hot market" it's usually a little to late. Not always, but generally speaking brokers have managed to mark up underwriting assumptions to a point where the upside is definitely limited. Curious whether anyone...
**1st Year Analyst (started in June) after UG** How should I prepare for the year end review that will happen in December? It goes without saying, obviously I’ll keep doing what I’m doing, working hard, learning, and improving my skill set. I understand it’s several weeks out,...
I recently sat for a second round interview for the role above with a very large US-based developer's London office. It was shortly followed by the recruiter "expediating the process" by sending me a case study that they have all of their hires do. I returned my product and...
Hey everyone. I recently graduated from school (non-target) and have received two offers. The first is at a top <abbr title="bulge bracket">BB</abbr> RE Lending group (where I would be doing both CMBS and <abbr title="balance sheet">BS</abbr> lending)....
I am looking to see how others here approach networking while they are already employed. I understand that being involved in organizations such as ULI, Naiop etc can really help but besides that what are you doing? I am currently on the brokerage side working in research, and eventually I...
First job out of school, I was hired at a boutique HFF/Eastdil as an an intern at $15/hr, 45hr/week. I was hired explicitly with potential to become "full-time" once our office hires another producer (which was slated for that quarter) but we've been focused on opening offices...
Hi all. I started my REAM investment analyst job at a 50-people <abbr title="asset management">AM</abbr> firm in Europe some 2 months ago and I just hate it. During the recruitment I was given the impression that I would be learning fin modelling, taking part in...
I’ve been lurking for years and have tried to consume as much knowledge and advice as possible. And after reading the info on Post-MBA associates trying to break into <abbr title="private equity">PE</abbr> in general, it definitely sounds like a long shot. But even with...
@CRE" will be hosting an AMA on the WSO Instagram tomorrow (https://www.instagram.com/wallstreetoasis/). He will start answering questions around 11:00 AM ET, and you can start sending in questions tonight around midnight. His background: - Real Estate Development Manager - Poli...
What is your PTO in RE? Example of my situation: Position: Analyst Field: Development PTO: 10 days If you have any other interesting set up, like unlimited non-paid time off, let us know. If there are any other interesting perks you have, that would be cool too.
Would love to hear some experiences/stories on investing anything considered un-sexy. Think tailer parks, billboards, Section 8, tax liens, etc.
Something that isn't discussed as much on this forum is Residential Development. I am curious as to see if any of you guys would ever consider taking a job in this field? Knowing what you know now would you tell your younger self to consider going this route? Think for a major company such...
Red banana Wagon
I was reading about JMB Realty and how they had the defining/biggest deal of the 1980's real estate boom (Cadillac Fairview for $2.6 billion). It got me thinking, what has been the biggest or lost defining deal (or development) of this real estate cycle? The book mentioned how deals in...
CNBC 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...
How do you guys go about showing of your modelling capabilities, to potential employers, without sending them an actual model you have constructed? I'm looking at approaching companies that are not specifically recruiting right now but I'd like them to see first-hand what I can do...
I am starting a new role as an analyst in 2 weeks (the role is focused on underwriting opportunistic acquisitions across Europe - primarily offices, retail, industrial, and residential). Do you have any advice for new analysts in terms of setting up good long term habits (organisation, excel...
I have been interested in real estate development for the past 6 years and have been reading/studying the business on nights and weekends while working full time in the construction industry as a project estimator and now a project controls manager for a heavy industrial contractor. I want to...
We work's losses more than doubled last year to about $1.9 billion, even as its total revenue also doubled to about $1.8 billion. Article->https://www.nytimes.com/2019/03/25/business/dealbook/wework-loss-billion.html
Like everyone else in real estate at one point or another, I, am highly dependent on the snipping tool. It has disappeared from my Windows 10 computer and have tried various iterations to get it back to no success. Has this happened to anyone and have they been successful in giving it mouth to...
Hey all, Looking for some advice on becoming a small developer. Haven’t spent a minute in my career in RE but know a fair amount about it as a personal interest. Would love any advice and suggested resources when thinking about this. Thanks!
Its Free Real Estate
<abbr title="Wall Street Oasis">WSO</abbr>, I have a pretty cushy analyst job on a decent investment sales team, working about 40-50 hours per week with a nice boss and making about $100k a few years into my analyst stint. I do not see myself staying in IS long term since...
Looking for updated info/insight on Greystar, as other threads are at least a year and a half old and they've recently expanded significantly with major deals such as EDR/raising a ~$2b value-add fund right now. What are people's opinions on starting a career at Greystar in their...
If there is a either a general whatsapp group or one for different cities, it could help create a more tight knit community, facilitate meet ups, etc.
Wondering which career path makes the most money in <abbr title="commercial real estate">CRE</abbr> - REPE, development, or capital markets brokerage?
Before I get the "Use the Search function" reply. I already did that, as well as google. I currently work on the GP side of a company focusing on acquisitions. I'm curious about what a day for someone on the LP side (analyst/associate level) is like. My assumption is that...
Hey <abbr title="Wall Street Oasis">WSO</abbr> - long time lurker, first time poster here. I'm wondering if anyone has some good insight on the <abbr title="confidential information memorandum">CIM</abbr> Group's development team,...
I had an interesting conversation with a recruiter a few weeks ago about how many new college grads / those in their 20s in RE industry are "acquisitions or go home" in their career search. He felt this thought process is naive because he sees many successful principals that have both...
SF office leasing broker here and we typically wear business casual (chinos/jeans with tucked in dress shirt) and a lot of guys rock the vest. More than half of us wear a Patagonia jacket because SF is one of those cities that even when its nice out it can get cold real quick. Ive noticed in...
Hey everyone, I was curious to know how you structured your first deals that you did on your own or how you would structure deals you do on your own in the future? (This is assuming you have investors and it wasn't all your own money) Some additional questions for those of you that...
Can anyone shed some light on the potential differences between an acquisitions analyst role at a traditional <abbr title="private equity">PE</abbr> shop vs. an analyst role at more fully-integrated developer (Related Cos., Hines, LPC)? I'm looking to make the move...
You have two identical buildings - one with an above market lease and one with a below market lease. Which one do you use a higher/lower cap rate for? Explain please.
There is a lot of talk about technology, AI, and the availability of information online disrupting the current commercial real estate brokerage model. Curious to get peoples thoughts on the future of commercial real estate brokerage. Is commission compression on the horizon? Are commercial...
Hi all! I was wondering if people could give like.. an intro to senior housing as it's one of the only products i have no experience in underwriting. For example, it'd be great if you can talk about the different types (assisted living vs. skilled nursing vs. etc...) and what they...
What do people generally wear in real estate development, brokerages and REPE? Do they usually require a suit and all that jazz or are they more relaxed and allow business casual or a nice shirt and dress pants and shoes?
[BISNOW Link - Chrysler Sale](https://www.bisnow.com/new-york/news/capital-markets/rfr-set-to-buy-chrysler-sellers-taking-big-loss-97894?&utm_source=outbound_pub_6&utm_campaign=outbound_issue_1130&utm_content=outbound_link_15&utm_medium=email) Anyone have the inside scoop on...
I work doing acquisitions, and I have recently considered applying for some Development Associate positions. Some postings at larger shops list <abbr title="Chartered Financial Analyst">CFA</abbr> on their requirement lists, and I believe this could be the...
So, it's that time of year, excited and highly qualified future <abbr title="summer analyst interns">SAs</abbr> receive the worst news imaginable: you failed your drug test and we can no longer offer you employment. Unfortunately, I am one of you. The most qualified...
What would you do with a small parcel in a strong urban area? Let's say a 0.15 acre (6,500 SF) site. It seems like most of the people here have experience with larger projects where there's more space to work with, but you may have to get creative to make the most out of a small...
I am currently deciding whether to go into investment sales vs. being a debt/equity broker. If you could be as specific as you can, what are the differences between the two. Comp., time it takes to break out, exit opportunities, what are some companies to start for <abbr title="New York...
What are some of the best resources for starting to raise capital as an emerging RE developer? Often times people start with friends and family in country club deals but I was wondering what institutions back smaller deals for small RE developers (if any at all).
I could not find a specific thread on this topic, so curious to hear yalls input. I'm very interested in getting into investment sales but I do not know which asset type would be best. I am leaning towards retail since I kind of already have a few connections in that area, but don't...
Hey monkeys, I’ve gotten to that stage in life where I’m looking at purchasing my first property. I’m looking into buying a 3-flat property with 2 beds and 1 bath each unit, and living in one of the units myself. What are the some of the benefits/risks to this type of investment? How...
Hi all, I am an asset management associate (two years of experience) working at a lower-MM <abbr title="commercial real estate">CRE</abbr> asset manager with exposure to basically all asset classes on both the debt/equity side. Long term I want to (A) go to a great...
Curious to know what you guys think about the different markets/cities to work in here in the US. Every city seems to offer a uniqueness that can translate in to how easy it is to do business there, build a network, enjoy a quality of life, etc. We constantly hear about <abbr...
The number one perk for a job to have in my opinion is being able ro work from home regularly. I used to work in a large asset management office where we all got to work from home once a week and it was amazing. I have since left to go to a development shop where we are not allowed to work...
As the title states, I-Sales blows. Been an analyst in <abbr title="New York City">NYC</abbr> for a while and have been trying nonstop to find the positives but this experience has shown me that there is no way i could do this for the rest of my life. Curious to hear others...