I’ve done a few informational interviews in the past with recent college grads and friends of friends that want to know the commercial real estate world so hopefully I’ll be able to answer anything that comes up. <h3>My background:</h3> I’ll keep my background brief....
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...
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
So I been reviewing some deals by a couple of the brokerage firms we work with on a regular basis. They seem to have added some younger brokers who I have been in contact with and seem to be really douchey. I mean they all feel like they are entitled or they seem to treat every offer not at...
How is underwriting analyst different from underwriter position? What is the difference in terms of hour, work load, pay, etc? What do analysts do that is different from what underwriters do? Do underwriting analysts just analyze the information and report to the underwriters?
I entered real estate for primarily one reason and that's because I really enjoy it and want a career in it and know that eventually if I work hard enough...I'll be financially fine. But sometimes its a little frustrating to work longer hours than my roommates, essentially have a...
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...
*"So why would a real estate firm invest in a company that focuses on getting people from JFK Airport to Manhattan in five minutes?"* Uber and various tech companies have been looking to change the ways we deal with transportation. Cheaper, on-demand taxis and autonomous vehicles...
I have been offered a position with a prominent <abbr title="private equity">PE</abbr> firm working on the asset management side. I would be managing / overseeing our development partners and projects where we are the LP. This firm invests in pretty high profile...
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...
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...
Hi, I am a recent graduate from architecture, interested in real estate investment and development (PE, Project Financing, etc.) Fortunately, I got two junior position offers from the real estate service firms: Cushman & Wakefield, CBRE, JLL, Savills First one is **Capital Markets...
Read em and weep boys. I think it was just published today. <a href="https://www.perenews.com/uploadedFiles/<abbr title="private equity real estate ">PERE</abbr>/Non-Pagebuilder/Aliased/News_And_Analysis/2017/May/Magazine/PERE0517_Pere50.pdf">Top 50...
So about 2 months ago I joined a group that does about $1 to 1.5 billion per year in commercial and commercial real estate loans. Our entire production and underwriting group is comprised of about 25 people. I've looked at a few dozen deals now that have made their way to my desk after...
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.
I just started with a <abbr title="middle market">MM</abbr> <abbr title="private equity real estate">PERE</abbr> firm - which is a dream job of mine. Some background: I graduated from a "non-target" state school I have internship...
I come from the equity side so i am <span class='keyword_link'><a href="/finance-dictionary/what-is-asset-management-AM">familiar with Asset Management</a></span> in regards to property assets. <span class='keyword_link'><a...
After some recent interviewing and many second and third rounds I started to ask myself a question... Do interviewer's know if they are going to hire someone immediately? As an example if I were to ask at the end of the interview did I get the job, would the interviewer have to...
So 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 <abbr title="discounted cash flow">DCF</abbr>, with levered/unlevered <abbr title="internal rate of return">IRR</abbr>, and a...
I haven't seen it posted here and I used to post them annually, so here it is - the 2015 real estate private equity rankings, made up of all the names you would expect. Still, there are some newcomers (Greystar, Almanac) and a couple of big falls and rises. If nothing else, it's good...
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?
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...
I think CoStar offers a very unique, hands on service. This thread is more about their handling of Loopnet. CoStar is hell bent on getting rid of the #1 <abbr title="commercial real estate">CRE</abbr> site in the country and calling it CoStar for some reason I will not...
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...
I want to preface this by saying that I'm not trying to be a dick to appraisers, so just correct me if I'm way off here because honestly this is just what I know from what limited sources I've heard from: The vast majority of what I've seen and heard of <abbr...
RE seems to have such a wide range in # of hours worked. For the people that are concerned about choosing a path with good work/life balance, I thought it'd be interesting to get a thread going with anecdotal cases of how many hours you work and what type of firm/position you are in....
[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...
Hi 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...
All, 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...
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.
Is anyone else in multifamily space doing a lot of development deals right now (i.e. preparing to close on new sites, rather than stuff that's been in the works for 12 months +)? If so, what tolerance for yield spread does your shop have over prevailing cap rates? In my shop, we are very...
Anyone have any models they can share about this topic? Looking to buy properties for quick turnover or cash flow and need some models to see if they are worth the investment. Thank you kindly.
Where will the dispossessed migrate to? What will this mean for real estate in the Houston area? Will surrounding markets, Austin, Dallas, NO gain? Opportunities to buy? Looking to start a general discussion. EDIT: Sorry to anyone I offended; this was a poorly timed and worded question.
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...
Hi Guys - thanks in advance for any info/insight provided. Have a modeling exam coming up for experience hire at megafund's real estate equity group (BX, Carlyle, <abbr title="Kohlberg Kravis Roberts & Co.">KKR</abbr>, Fortress, etc.). Can anyone shed some light...
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.
Hi monkeys, hope your summer is going well. My firm is going to need some underwriting analysts. We're a mid market agency (Freddie/Fannie) underwriting shop. Previous agency experience is preferred but not required. Will teach you how to underwrite and my goal is to get all my analysts...
Throughout my discussions with investment and financing professionals within the real estate industry, we have reached the stage of the cycle where most seem convinced we still have “room to run”. The most common reasons and rationale I hear about why a downturn is not imminent is...
I haven't worked on many industrial deals so I'm hoping you all can help me really understand the basics. Some questions that I have are: 1. What ceiling heights are considered the best? What heights are used for different types of purposes? 2. What are the different types of...
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...
Was talking to some buddies last night going over our interviewing process when applying to jobs. There was one question that virtually all were asked: "What is the relationship between cap rates and interest rates?" I'm sure you all have had this question in an interview at...
Hi All! I created a single family rental model because I'm interested in creating some rental income down the road. My model is attached. It's annual rather than monthly, and my assumptions are noted in the cells. The red text contains the input variables. Tear it apart. Constructive...
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...
Does anyone here have any experience or thoughts on the Harvard real estate program? I know it is technically a Masters of Design degree, but it appears you can take courses in the business school, law school and at MIT which is interesting. Just wondering what the placement is like out of the...
2016 real estate private equity rankings. (See attachment inside the post)
I'm confused. Do REPE firms, or even other <abbr title="real estate investment trust">REITs</abbr> do this? Do large investors even buy shares in REITs? Do large investors buy ETFs?
Any thoughts on Greystar ? Seem to be growing (recently acquired Monogram REIT) and were on the <abbr title="private equity real estate">PERE</abbr> 50 for a few years. Appear to be most active in the south and west US Would this role pigeon hole you in multifamily...
I'm thinking on taking a couple CM courses or even getting a certificate in it as I really want to learn more about the industry as I am currently in a Construction type environment at my current RE firm. Also, I feel it can be incredibly useful for investing in small multifamily on my...
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...
I've went through mostly top 20 MBA and re masters programs data and put this table with #s of people going into RE, median base salaries and placement by locations (for all grads, not RE specific). ![RE][RE] <!-- Images --> [RE]: https://i.imgur.com/c3hXPtZ.png I'm not...
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...
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...
How 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?
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...
What's up <abbr title="Wall Street Oasis">WSO</abbr>. Long time lurker here, but I've recently been put in a pretty conflicting position and wanted some advice or reassurance to talk me off the ledge. Basically, I've always wanted to work in Real Estate...
There has been a ton of talk about which <abbr title="Masters in Business Administration">MBA</abbr> is the best, how do I get to a <abbr title="megafund">MF</abbr> right out of school, and other prestige-related discussions at length.. Yet there are...
Hi guys, I am seeking some career advice from some more experienced folks on here. I'm currently working for a fairly reputable <abbr title="private equity">PE</abbr> firm doing <abbr title="asset management">AM</abbr> - Angelo...
Louis Winthorpe III
Hey guys. Somewhat recently a top broker from our firm jumped ship to another major brokerage. Made me wonder what kind of incentives may be offered to poach a very solid producer. Is it keeping more commissions? Notoriety of being under a CBRE/JLL/Colliers banner? Are there any perquisites that...
I'm currently considering attending NYU's MS in Real Estate program part-time but have noticed certain job descriptions for positions within certain <abbr title="commercial real estate ">CRE</abbr> investmente firms prefer or sometimes require either an <abbr...
This is something that has puzzled me as I’ve moved from the AEC side of the business to the finance side. There is a group of elite, prestigious RE companies. They tend to hire from target schools, and many of the posters here would like to work for them. You know their names: Hines,...
Curious to know how some of you landed your first job and any subsequent jobs in commercial real estate. And by "how" I mean what METHOD did you utilize to get you the interview and ultimately the job? 1) Did you see the job posted online, send in an application and get...
For all that work at a development shop, can you give us some light on all the hats you wear. How involved are you on the construction side? Do you work on bidding and coordinating with GC? Who checks up on the construction progress? How involved are you with communicating to the...
I was looking at the Cornell and USC Real estate masters program in addition to their <abbr title="Masters in Business Administration ">MBA</abbr> programs. Does anyone know someone whose gone to these or any prominent real estate program? These program websites don't...
Hi guys, What are some unique value-add strategies you've implemented in your multi-family assets? I am talking beyond the typical lipstick on a pig upgrades. Some things I've experimented with lately are minor technology upgrades such as Nest thermostats, built-in wall USB plugs,...
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...
I have been calling My leads on Mondays and Tuesdays and periodically throughout the weekdays for many years. I have been using the T-Max Predictive Dialer that works great by reducing all the ring time and just giving me live people.....but wondering if there might be potential on the weekends...
Currently in multi family acquisitions and hate it. I would probably like it more if ground up dev. Looking to transition into more office. Which do you guys enjoy/hate?
I am an undergraduate student studying Real Estate and Urban Economics. I am going into my junior year, and am currently in my first internship, working at a development/capital firm directly underneath the Asset and Property Managers. I know that I have a long way to go in my career before...
I'm looking for a tutorial on UPREITS. Primarily I would like to set up a <abbr title="real estate investment trust">REIT</abbr> with my existing property - a stable foundation for the <abbr title="real estate investment trust">REIT</abbr>, and...
Does anyone ever find that real estate investing is overly simplistic, a bit elementary. Slap a 3% market/expense/rent growth rate, pull a sometimes arbitrary list of lease and sale <abbr title="comparable analysis">comps</abbr>, +50-75 <abbr title="basis...
Trying to network in to a position and I’m not really having the best success getting my cold email responded to. Would love your guys advice. So far my email has been Dear _____, I see you are x position at y company. I am a recent graduate from x university with a math...
If you look at the housing prices in Manhattan, it costs more than a whole average mortgage payment to rent and millions of dollars to buy. How can a normal person with a college degree afford to live this way? I am not talking about people with already millions or billions of dollars to invest...
Hi, I was wondering if anyone on here had some good real estate resources / primers / articles they were willing to share? I'm looking for articles / resources that go a bit deeper than just scratching the surface of the topic. Whether it's retail, office, hotel, yield, yield...
Does a correct answer exist here? Does saying no effect my shot at landing the job? I don't have any family in the industry, would they prefer that i did? I know I might be overthinking this but any input would be appreciated.
So I recently accepted another position and am starting my new job in a few weeks. I currently work at a mom and pop development shop who have about 250 employees, 95% of the employees are construction workers and property managers. I am the only financial analyst in the company. I gave them...
I'm a little confused over how the finance community defines "developer fees" when financing a deal. I would appreciate the financing community responding. I found an old thread on this forum from 2014 on "developer fees" could go as high as 9%, but there seemed to be...
"Why are you interested in real estate?" This seems to be a common interview question. I understand the answers would be geared to the hiring firm be it development or acquisitions and their product type. What are your typical responses when confronted with this? Or thoughts in...
Current role is unfulfilling with no growth and an all around depressing environment for myself that I'm willing to quit with nothing lined up. I've got resources to support, should I be without a job (family and savings). However, I'm wondering if there is value in continuing in...
I am tired of the fluff pieces on real estate where real estate is always going up and with only watching 3 episodes on HGTV your grandma can flip a 20 unit apartment building with 0% down. Market reports from brokerage firms, articles on Reuters and Forbes, etc are all just mouth pieces for...
I 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...
Fellow RE Monkeys, Wanted to hear everyone's thoughts on Opportunity Zones. Personally, I'm very skeptical this program will work for 3 reasons: 1) Required Hold Period - material tax advantages only kick in after 10-yr hold period. For anything shorter, basis step-up is nice,...
How hard will it be to break into a <abbr title="real estate investment trust">REIT</abbr> after undergrad this May? Does anyone know much about this?
There's more and more chatter about more CMBS shops going under heading into risk retention. Who have you guys heard so far?
When I was in San Francisco for the ULI Fall Meeting I had the pleasure of attending a lecture on and a tour of Salesforce Tower, a joint project by Hines and Boston Properties that will be the tallest building west of Chicago upon completion. It was an incredible presentation and tour and the...
How did your salary progress/change throughout the course of your career? I think it will be interesting/helpful to see to show younger guys what's realistic. EX: Acquisitions (Dallas) **Year 1**: 60k + 10% bonus + $5k signing bonus **Year 2**: 67k + 20% bonus etc.
My friend is an independent commercial real estate broker (she literally rents her own office) who does investment purchases and sales, and tenant and landlord leasing representation across most asset types and classes, although about 50% of her business is retail tenant representation. Rather...
I am in charge of doing due diligence on all acquisitions/refinances for a company that buys and sells strip malls on the west coast. We are the GP on all of our deals and our LPs consist of HNWI and sometime partner with institutional investors on larger deals. Is this considered REPE?
Hey guys - I am a first year analyst straight out of college working in real estate <abbr title="asset management">AM</abbr>. I started in late June and for the first month that I was on the job basically had very little responsibility. Recently, the team I am working with...
Real estate, like many industries, is changing at a fast pace because of new technology. Startups are the drivers of new technology usage and recently I feel like I have stumbled upon innovative RE startups more and more. Some names I have run across include the obvious (WeWork, Zillow, Airbnb)...