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+44
Contrarian Thesis: Acquisitions is the Least Interesting Job In Real Estate

LReed

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...

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+27
Let's Talk About the Pros and Cons of our Gigs in RE Finance

LReed

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...

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+23
Effective LP oversight of GP

wso_4

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...

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+27
Let's Talk About the Pros and Cons of our Gigs in RE Finance

LReed

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 various I-...

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+4
Why is multifamily seen as a product type that is less cyclical compared to retail, industrial, office and hospitality?

jimmymc

Is that the case more for class B and class C as opposed to class A multifamily product? Thank you so much!...

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+12
Any insight on Greystar?

BrickandMortar

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 Investment Manage...

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+1
Basic Multi-Fam Model

Capital360

See quite a few people asking questions regarding Multi-Family (BTR/PRS as it is referred to in my neck of the woods) modelling/analysis tests etc. I took a few hours at the weekend to stick something together. I was bored and I was due a modelling refreshment run...also because why not! It is a pr...

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+1
Modelling retail/office tenants in MF - How to format the RR??

Acqlad 3000

I've been working in MF acquisitions for less than a year and I've started seeing more mixed use (i.e. 5 - 50 retail/office units in a resi. building) recently. Our current model has no way of accounting for commercial tenants so I feel like I have to reinvent the wheel every time I run into one of ...

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+3
Working for a large bank but not on their payroll?

Aeisen8

Hi Everyone, I have job interview coming up this week at one of the big bank’s in one of their real estate lending divisions. I got the interview through a headhunter at one of the bigger NYC companies. He told me that if I get this job I will be employed at the bank and part of their team, howev...

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+1
Best resource to determine AMI data

egold70

Specific investor I am communicating with is focused on workforce housing (which they define as properties with rents between 80-120% of AMI). Looking for the best resource website to be able to drill down per MSA (or however these stats are tracked geographically) and determine the comparison betw...

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+2
single sheet model

earthwalker7

Hey guys, I'm looking for single-sheet models for evaluating rehab and development opportunities. Our company uses a number of multi-tab/multi-sheet Excel models, but those are really hard to edit. I'm looking for a single-sheet model instead. Does anyone have any template?...

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+1
Advice needed - no internship this summer right now, weighing options

sterlinghudson25

Rising senior, fucked up this year dropping my GPA to a 3.55 at a top 20 school with an econ major and failing to land an internship for the summer because I didn't try hard enough to network/send my resume places earlier in the year. I'm trying to weigh my options. Right now, I've been looking fo...

2
+1
Starting career as a debt & equity broker- Hitting the ground running

Realzstates96

Just graduated from school and starting my career in NY as a real estate capital markets broker, at a NYC I-sales/capital advisory firm. Going to be arranging debt and equity placements for real estate transactions. Any tips on how to hit the ground running? Anything involving networking, groups to ...

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+1
Job # 2

gillenrmatt

I'm looking to relocated to California or move-up in the Dallas market (where I currently work) Graduated with an UG in finance and have been working as an acquisitions analyst for a small PE firm in Dallas, Texas since January of 2018. Since joining the firm in 2018 there have been a couple of add...

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+7
Starting in IS

Shkreli4Prez97

Hey folks, Months ago I posted about doing an MSRE. After a lot of research, reading @CRE" posts about how 2-3 years is likely the best experience to maximize the impact of the masters, and recently getting my MA RE license, I have started looking into different avenues in commercial real estate i...

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+8
Thor Equities in 2019

C.R.E. Shervin

Hi everyone, I just wanted to ask about this firm. What is everyone's opinion on prestige, culture, hours, comp, and reputation. ...

28
+5
2 yr - 10 yr Treasury: Why does this indicate a recession?

Debt From Above

Fellow monkeys, I currently work in brokerage where our financing professionals are constantly preaching about the spread between the 2 yr and 10 yr treasuries (and have been for some time now). I understand that the yield curve inverting is supposed to indicate a recession in the future, but I was...

13
+1
Professional Property Management Software - PropertyZar

Propertyzar

If you are looking at good and affordable Property Management software, then you can look at PropertyZar Software Management Company. PropertyZar creates high quality property software that can help you manage your small or medium sized property. Business Details: Business Name: KPB Properties, LLC....

1
+31
Real Estate Side Hustles

CREguy

What types of real estate side hustles do people have? My intention is to work in real estate in a full-time capacity, but also have a side hustle like owning my own commercial properties or being a broker. I would like to hear of anyone's experiences with their real estate side hustles and if it is...

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non-finance major undergrad-grad, wish to shift career into finance, have a chance to dual degree + MBA, what should i do?

blackcow3434

Hello all, I need to make an important career decision and struggling if I am getting it wrong or if it is worth committing. Your advice will be hugely helpful. I have a non-finance undergrad degree and currently in a graduate program (US TOP 5 RE related). After accepting a grad program, had a s...

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+6
Interest-Only Mortgage = Lower IRR?

indieologue

Hi All, Just wondering if you happen to have come across a property investment using interest-only mortgage, i.e. mortgage where you will pay only interest on a monthly basis, and lump sum of principal at the end of mortgage period. When comparing the investment using regular mortgage where you pa...

19
+1
Manage your property with Lettings Agent Edinburgh

lettingumega

If you want to get property management services then you can get assistance from lettings agents Edinburgh. Whether you have a property or portfolio of properties you should hire a property manager in Edinburgh who can understand your opinions and ensure you direct person to deal for tenants. You wi...

1
+6
Denver Real Estate

Windycity86

Hello, Considering migrating to Denver in the next 9 months. Curious if anyone is familiar with the market place out there and can suggest some RE firms to look into. Has anyone done business out there and can recommend some firms with solid reputations? Thanks everyone!...

21
+2
If you could work anywhere...

RE999

Would love to hear about some of the best firms you guys work(ed) at. Most enjoyable, interesting, fun, etc... Or if you could work at any firm which ones would be your targets and why (beyond just prestige)?...

2
+2
How to Model Multifamily Rental Income (Related Cos. Case Study)?

gcoo

Hi all, I am preparing for a technical interview at a firm that invests across all asset classes, so I've been running through every case study I can find. I am currently at a shop that only invests in office space, so there has been a bit of a learning curve with multifamily. The link at the bott...

5
+1
PERE Financial Modeling

Refl1231

Where do institutional RE Funds train their new hires in real estate financial modeling? Doesn't seem like there is as much out there for true property deal making as is for investment banking? Does anybody know this? Yes, I do realize about REFM and Adventures in CRE,& ULI, but didnt know if th...

1
+1
Donohoe Companies

QuestionsQuestions

Does anyone have experience with Donohoe Companies, particularly their development team, either as an employee or doing deals with? Curious about culture, reputation, etc....

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+3
LoanCore Capital

CRE11

Does anyone have any insight on LoanCore Capital? I'm looking to learn a little about their company culture, reputation, etc. ...

8
+1
California Rent Control Pt II Electric Boogaloo

Count_Chocula

Round 2 is heating up in Sacramento (see AB-1482). If you're a resident, click the link below to send a letter to your state senator, takes 5 seconds max. [https://www.nmhc.org/communications/take-action-CA/](https://www.nmhc.org/communications/take-action-CA/)...

1
+17
Graduating without a job offer

CodyParkey

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 certif...

47
+1
Redbrick LMD

babybaboon

Boutique MF/MU acquisitions/development firm in DC. Typical questions: anyone work for, or with them? Comp, culture, exits, prestige? Seems like they've done some cool work over their time but always worried about smaller firm's development pipelines drying up, especially in what some say are "later...

1
+46
You have one city to invest in. Which city and why?

yayaa

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?...

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+13
Path to Developer?

wallstreetballa

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!...

29
+1
Path to REIB

iwantreibpls

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2
+6
Asset Management as a long-term career?

jon1987

What is the career path for someone in CRE Asset Management look like? I know you start as an analyst, but what does this career path look like 10-20 years in, assuming you stay in it? Pay, hours, etc? Assume this is at a REIT or REPE firm, not a bank doing loan management. I've interviewed at a cou...

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+1
Goldman Dallas

God Emperor Doom

Anyone have any insight into this office? I know it does real estate but are the salaries the same as street or do they differ because it's in Dallas?...

1
+1
Opportunity Zone Funds (a few questions)

egold70

For those that are familiar with the formation of these qualified funds (I have heard a few people say they are relatively easy to form and are self certified), I had a few general questions (this relates directly to a specific source of qualified gains I am speaking with): Capital gain was realize...

1
+1
Underwriter for top CRE Lender

Research Rodger

Could anyone share their experience working in underwriting for a top 5 CRE Lender in a major market? There seems to be mixed reviews on here for underwriting agency deals at a CRE Lender so any insight on day to day, comp, exit ops would be great. For reference, I am currently in a more back offic...

1
+11
World Class Capital Group?

CREInvestor

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....

68
+4
Breaking into Commercial Real Estate from Equity Research - Best Approach?

Venturepapi

Looking to break into Commercial Real Estate with the end goal of REPE but have 0 professional CRE to date. Previously an Equity Research Analyst in Asset Management. Not sure whats the best approach in making this happen but Real Estate isn't rocket science. Would love any advice on thinking abou...

4
+11
Harvard MDes - real estate

ch66220

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 progr...

27
+9
Ground Up - Refi'ing Out Most Of Equity

enti98

I recently spoke with a Principal at a family office and he mentioned that it's not uncommon to refi almost all or at least close to the equity outlay put into a deal on his ground-up MF deals. How common is this? I am not well versed in ground up at all I wasn't aware that it was common to convert...

12
+4
Unlevered and Levered IRR for Real Estate

king_tubby

Hi guys, I have a modeling test for the RE team of a SWF coming up and I was wondering if someone could clear up something for me....I know it sounds very simple but I think there is just a gap in my knowledge. Could someone walk me through how one might find the levered and unlevered IRR of, say, ...

22
+1
Any info on Oxford Partners?

CREnoob

Anyone here familiar with the brokerage Oxford Partners? Located in Houston. If so any insight is greatly appreciated....

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+5
Multi-Family Acquisitions Excel Test

CREQuestions

Does anyone have an example of what an excel test for a multi-family investment shop (ex. Equity, GID, Avalon) would be like? Or an example would be helpful...

13
+1
Property Management Software Free Trial

Propertyzar

If you are looking the best Property Management Software Company, you can visit PropertyZar, we Offers residential, commercial & rental property management software. Business Details: Business Name: KPB Properties, LLC. (PropertyZar) City: Cleveland, TN 37312, USA Contact Person: Keith Weigand E-Ma...

1
+11
How to Convince My Boss to Include Excel Modeling Into the Job?

m_berle

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...

34
+13
Showcasing Modelling Abilities

Capital360

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 on a specific ass...

34
+4
CRE Professionals: Anyone Open to Taking on an Intern?

aphenophilia

WSO, I'm hoping to catch my first break in the real estate industry and have gotten dinged in final rounds with a few CRE brokerage offices and (non RE)PE shops. As a sophomore at Michigan Ross I've got experience in LBO modeling and PE overall from my work at a BB's IM division last summer as well ...

11
+3
Investment Sales Training Materials: Starting in NYC

abc1324

I know there's been a post about this already, but it's been a few years and I can't find the materials in the google doc or fro people in the thread. Anyone have training materials from Marcus and Millichap or other places? I'm joining a firm in NYC soon and want to be prepared training wise, the ...

9
+1
Would Appreciate Some Insight on Development Interviewing

IncomingMonkey

Could use some input here. I've got about a decade of solid design, entitlements, and construction experience. Recently decided to move into development and did an MSRE to pick up the finance side. Now I'm on the job market. I have a second-round interview scheduled with a major national MFR develo...

1
+22
What is the strangest deal you've ever worked on ?

DBisnolongerBB

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 ? ...

42
+3
MSRED Programs

rlxpng

Hey Guys, So I know there are varying opinions on MSRED programs, but I was wondering what sort of stats/background these programs look for in admission. Obviously, it varies, but I would be referring to NYU (mainly), USC, Columbia, and Cornell, and Georgetown. However, I'm definitely open to other...

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+1
How taxing authorities treat re-zoned properties

boomemlr

Looking to get some insight into how taxing authorities treat properties that recently get up-zoned. Do taxes shoot up year 1? Or is it normally more of a slow roll. Especially interested in single/multi-family. ...

3
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Transitioning from Equity AM to Real Estate - How do you do it?

Venturepapi

Looking to break into RE finance but not sure how to do it/whats the best approach - Looking for some advice from the WSO RE pros. Currently at a FinTech company, prior to that worked in AM covering natural resource equities. Starting my career in commercial banking. Any advice on how to positio...

1
+1
New Jersey Property Tax Underwriting

thisguy22

I’m looking at a multi family construction deal in Jersey City where the sponsor is underwriting stabilized property taxes at 10% of EGR. In NYC we typically see at least 20%. Can someone please let me know what the rule of thumb is for UW property taxes in NJ for residential? Thanks ...

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+1
Moving from startup strategy to RE post-MBA, advice?

bcrew13

Just accepted a position with a boutique REPE firm while I study for my MBA. I don’t have a ton of experience with the modeling within RE, but the position I will be in will be focused on cashflow/IRR modeling and some underwriting/valuation work. My previous position was as a sr strategy analys...

2
+6
Real Estate Private Equity In San Diego

_chrishansen_

Any of you know of any large REPEs in San Diego? A google search will show some smaller scale ones, but I was curious to hear what the community knows about any solid REPE players down in SD. Thanks!...

9
+2
commercial property or a residential property?

Lane_Genik

What according to you is more beneficial ? commercial or residential properties ? Share your views and then we'll discuss the details of the same....

8
+4
Multi Family Controllable vs Non Controllable Cost

Sham Wow

Got into a discussion today. Basically which cost does your firm consider controllable vs non controllable? Utilities and Management Fees seem to be the two that cause confusion. Seeing as we could replace our management team but might have trouble turning off the utilities......

8
+1
CRE underwriting consulting project- how much to charge?

Scott-Paulson

I was wondering if anyone could provide guidance on pricing a consulting project involving underwriting and packaging a portfolio of ground up CRE development projects. I need to provide pricing for a multi-project commercial portfolio encompassing: - Conducting all market research - Develop underwr...

3
+1
Sabal Capital

Brody92

Any opinions on them as a lender? from a borrower perspective or from an employee perspective. They seem like Ready Cap to me, a middle market lender that has three distinct loan programs- small balance agency, fixed rate cmbs alternative and bridge. Any feedback on them? ...

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