Silver BananaTopicReplies
+1
looking for an estimate of value on a commercial property

ryanlin451

Im looking for an estimate of value on a commercial property, almost like the Zestimate on Zillow but for commercial properties. Is there any advice on a good website that would show something like that? ...

1
+3
Georgetown MPS Real Estate

jt360

Hi guys, Just wondering if anybody has any thoughts on this masters? I'm currently London-based, working mainly as an energy journalist (though I also do some quant work and analysis) but am hoping to break into RE I-banking or possibly REIT work. I'd be moving to the DC office, staying in my curre...

121
+8
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...

26
+16 6
+6
Yield on Development Costs

TeddyTheBear

What yields are everyone seeing when it comes to development costs? Mainly interested in multifamily. We all know that developers make their money on the spread between yield on development costs and selling cap rate. However, I have heard conflicting reports that the spread is almost non existent ...

79
0
Is Edinburgh Lettings worth the risk during festivals?

lettingumega

Renting your property for short-term during festivals has become popular in Edinburgh. But some people are skeptical due to the risks of putting themselves into a serious contractual and legal issue. However, with a little awareness, you can make good profit from Edinburgh lettings while minimizing ...

2
+3
LOC versus Refinance

yayaa

What are the pros and cons to pulling out a line of credit on a building versus refinancing? Wouldn't refinancing be more beneficial since you can individually pocket some of the funds tax free? I am aware that refinancing increases LTV and mortgage amount but I believe you can still take some home...

6
+7
RE Mezzanine Debt

Temujin RE

Can someone give me a rundown on mezz debt? 1) What term will mezz lenders do? 2) Is it always interest only or do they also amortize in some circumstances? 3) Are there ever holdbacks in the loan? Is it always fully funded upfront? What if it is for construction? 4) What total DSCR, LTV, LTC, and ...

37
+1
BEST FREE NEWS SITE

money.monkey

Pretty self-explanatory and this thread topic might have existed. What are the free alternatives to WSJ/Bloomberg?...

1
+2
How to find ownership information for commercial property

Mike Miller743

Does anyone know if there is an easy way to find ownership information on a commercial property? I only have the address. ...

8
+24
AMA - Master of Real Estate

CRE

I'm seeing a lot of MSRE/MRED questions lately as people are either choosing between programs, getting ready to start programs in a few months, or thinking about applying for 2018. I am a recent Master of Real Estate graduate and I know we have a lot of current and former students on this board w...

80
+1
How Cagey are Your Co-Workers About Relationships/Sources

The Assman

Do you ever feel like you have to be careful not to go over people's heads when it comes to getting a deal done or that a co-worker might be hesitant to loop you into a prospect they have going on? Are you ever guilty of playing coy about how/where you sourced deals and your broker connecions? ...

2
+2
Anyone know anything about Northmarq Capital?

jtl1002

Hey all can anyone shed any light on Northmarq Capital (Analyst)? I believe they’re a debt and equity shop. From reading around it seems like the culture/pay their is great. Can anyone else speak upon? As well as exit ops?...

12
+6
Using 100% equity for a project - does it ever make sense?

Ronclue

Just wondering about this, does it ever make sense to not use any debt for a real estate project? Say for example, you're having a difficult time deploying capital because cap rates are super low, but you've found a decent investment. So you want to deploy as much of your equity as possible, you're...

31
+3
Multifamily Underwriting Excel Model

futureREmogul

Does anyone have a multifamily underwriting model with a focus of a long-term hold where with no outside capital? Please let me know, could exchange some models I have....

7
+1
Joint Venture Questions

Leverup13

Hi all— So I have an offer as an acquisitions analyst at a huge pension fund (think CalPERS). It would be my second job in real estate as I’m currently in AM at a smaller REPE shop ($1B AUM). My end goal is acquisitions at a large REPE firm (hoping to move into NYC within a few years as I’m c...

1
+1
RE NPL Financing - Exit Opps

L_STAR

What sort of skill set and exit opportunities would be available to someone who works in a team that does real estate NPL financing (providing loans to PE firms who are purchasing NPL portfolios)?...

3
+6
Interest rates...what now?

PacNumber

The Fed is hellbent on continuing to raise rates. Stock market isn't digging it at all. Growth is questionable for 2019 despite a solid 2018. The 10yr is off 50bps in what, 30 days when it appeared that it would easily stay above 3. Looks like long term rates will hover in and around 5% for the ...

6
+1
Fastest way to get flood maps ?

Mike Miller743

Does anyone know the fastest way to get flood maps? *I am having a difficult time doing it quickly . ...

4
+5
Principal Side Marketing - What Works?

ThatGuyBalls

Sup - What are some things you guys are doing to market yourself/company/brand? What has worked in the past (tough to quantify, I know)? Aside from the standard dinner/drinks/etc, what are some cool events or otherwise that were a success? IS Guys - what's your take? What do you like to see out o...

7
+1
RMD goldman sachs

Mesekhoete

Hey guys, Had a super day more than a week ago with RMD in London and am wondering how long it takes GS to get back? Also, is it a rejection if they did not reply by now? What's also weird is that 2 days ago the candidate portal stated digital interview and today it congratulated on further interv...

1
+9
Need Some Multifamily Underwriting Analysts

GSE UW

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 promoted to ...

23
+2
REIT Tax Manager Growth

WahoowaCPA

I am considering an offer for a Tax Manager position at a REIT (I am currently a senior in a PE/REIT tax group at a BIG 4 firm.) In the role I would be overseeing the tax compliance work for the spring busy season, Jan - April. The remainder of the year I would be working on income projections, REIT...

5
0
apartments lending in houston

ryanlin451

Do you know who is lending on apartments in Houston ? ...

3
+1
Affordable website to real estate data

ryanlin451

Does anyone know an affordable website to get commercial real estate data ? ...

2
+3
How to make a "Deal Sheet" to accompany a Resume?

AB84

At that point in my career where I should probably have a "Deal Sheet". This was recommended to me by a few mentors. How detailed do you get with a deal sheet? What sort of data points/metrics are pertinent? ...

7
+2
How to Break into REIT/REPE/REIB

BoringCredit

Hello WSO, I will be graduating a year early next semester and am completing a year long internship as a Commercial Credit Intern at a regional bank. I want to move into the analytical side of Real Estate like REIT/REPE/REIB but really don't know the next move. (1) Do I have a shot of breaking in...

5
+2
Associate, Asset Management at a Megafund

REinvest44

delete ----------------------------------------------------------------------------------------------...

6
+5
Development and Capital

Texas_Forever

Assuming you have a good understanding and skill set in development, how much capital would you need to be able to raise to feel confident about going out on your own and starting your own shop? ...

13
+1
Retail Pre-Leasing

Temujin RE

A retail project that is truly filling the need for greater supply of retail space should be leased fairly quickly, and slow pre-leasing can be a big red flag for lenders and investors. What do you consider to be a low, average, or large amount of pre-leasing at different stages of a new developme...

2
+2
2019 Dodge Construction Outlook

Blake w Mitch and Murrary

Does anyone have a copy that they could share? ...

1
+2
Best real estate firms for starting a career in real estate

rrefinn

What are the best companies (PERE, brokerage, IB, REITs) for a recent graduate to start a career in real estate? The common ones I have heard thus far are Eastdil, Blackstone, Starwood. any insights?...

11
+9
Purchase Multifamily Property as first investment

saw23

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 should ...

35
+3
Career advice on new job

ReRookie

Hey guys, So I’m newish to real estate and in desperate need of advice. I recently accepted a job with a public REIT and relocated to a different state. I’ve been in my current position for a couple of months and can already tell this isn’t going to work out long term. The duties of my new r...

14
+7
What was real estate like in 80s and 90s?

Ronclue

I know the audience of this site tends to be younger, but if you're an older folk or have any stories that would be super interesting. I was talking to this semi-retired guy who used to do land development, and he was saying how everything used to be analyzed through back of the napkin methods. He...

12
+1
Lateral Recruiting in CRE Finance

frankzombie96

Hello all, Have a question/dilemma via a old-coworker/good friend (who isn't on WSO) that wanted input on a situation that he/she is in: This person has been working at a bank in their real estate finance group for the past ~5 years. However, this is via Situs (consulting / headcount firm) - reas...

2
+1
MF Asset Management Model.

ChangedMyName

My firm started a new fund a little less than a year ago that gives us the ability to hold our multifamily developments longer (5-7 years). Historically we sold upon stabilization so an asset management system or reporting process was never really implemented. We now have a few hundred units about...

1
+1
Real Estate Private Equity Development

curtoj

Looking for advice from Senior Level recruiter for Real Estate Developer, whose worked in primary markets as developer but would like to join private real estate firm or realty group developing larger scale projects w team of JV partners. ...

1
+3
hotel F&B operate vs lease

zacksc11

My fund is looking at acquisition of an existing hotel limited service asset and looking at the F&B margins and valuations from the appraisal, I was curious as to why a limited service hotel (think Cambria) would ever lease out F&B operations given how the cash flows are valued? Wondering what othe...

6
+4
Commercial Real Estate Brokers: Cold Calling Advice

tandrew

I'm curious to hear from current and former commercial real estate brokers on their typical best practice cold calling techniques. 1) How many calls a day do you aim for? 2) Typical time of day you cold call? 3) What's your standard elevator pitch? 4) Do you recommend leaving voicemails? 5) Do y...

4
+2
Need guidance for my career.

Xiang5796

First of all, English is not my first language so I apologize for any mistakes that I might make. But anyway, I'm in need of advice at this moment, any inputs would be really appreciated. I graduated from a top 60 US college (according to US news) in 2016 with a BS in Economics and 3.81 overall ...

7
+4
Calling all Asset Managers

yayaa

To everyone in AM, What is your day to day role in managing the properties? What are you specifically looking for on an asset level versus a portfolio level? How many properties do you manage? Do you work with acquisition team/property managers? Do you also focus on loans and interest rates and in...

1
+2
Commissions / Fee Sharing - How are you chopping it up?

Merchant_of_Debt

Taking a dive back into fee-only compensation. I need a general framework to work off of when it comes time to negotiating my piece of the pie so I am hoping to get a feel for how you guys are divvying up the pie on deals you originate and deals you execute. I think it would serve everyone here well...

8
+2
Company Switching to Hourly Analyst Pay

My Username

Just got word that my company (large national bank) is switching their analyst pay structure from a typical base salary to an hourly salary, prorated based on the original base salary. The perk is that they will now pay 1.5x overtime pay for anything over 40 hours/week. Benefits, PTO, etc. are all t...

8
+2
University of Miami MRED+U

Cafecito Time

Hey there WSO, wondering if anyone has any impressions or knowledge of University of Miami's MRED+U program (https://mredu.arc.miami.edu/). Quick background on me: I'm working for a small developer here in Miami as an analyst, just started this year. Developer has traditionally focused on hotels, ...

1
+1
RE IB or attempt to go straight to REPE out of undergrad

acb123

Hi, I am currently an undergrad with a SA position locked down. Location and position is not exactly what I want so I plan to recruit for FT next fall whether I get a return offer or not. As I find with most people interested in real estate, my end goal, as of now, is REPE preferably acquisitions. W...

5
+2
ARGUS training/certification resources

Richard24

Targeting a REPE internship this summer and from potential employers I've talked to, having familiarity with ARGUS would be a big plus. Any free resources for such training or certification? If not, what's my best option in terms of value and efficacy? Thanks!...

6
+1
new projects in navi mumbai panvel

expressbags.in_1

"new projects in Navi Mumbai panvel has emerged as a favorite investment destination for the real estate investors in terms of residential properties. Contact us: Shop No 28 - 31, Payal Complex, Sector 17, Opp Panvel Railway Station, New Panvel, Navi Mumbai - 410206 Maharashtra, INDIA [email protected]

1
+2
DU MSRE

DenverFinance

Hey guys, Does anyone know much about the University of Denver's MSRE program and how it might compare to some of the top programs out there (i.e. Cornell, MIT, Berkeley, etc.)? Would opportunities/networking be regional or nation-wide? Limited to development? Thanks for all the help!...

9
+12
Uncovering "News" Before It Hits the Front Page of Bisnow

Pocket_Rockets

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 has any interesting new...

26
+8
Debt Fund Modeling / Argus

IRReplaceable CRE

Calling all debt fund analysts/associates... I work at a mortgage REIT as an analyst and we are a typical bridge lender. I am curious to see how detailed other shops underwriting/modeling is. - Besides the typical DCF, market research (comps), etc. that goes into your origination models, what else...

15
+6
Are there any relevant certifications/designations worth getting other than MBA/Masters? CFA, CAIA, certificate programs, etc.

Anonymous Monkey

I am hoping to get some discussion going on designations that one can work on that may help advance their career. Here are some of my thoughts & questions: 1. If you come from a non-target/zero pedigree, is it worth doing a certificate program? IE, UCLA extension, NYU certificate program, eCornell,...

7
+1
Construction Developer Fee Revenue and Expenses

daniellehusted

We just recently became the developer of a construction project. We do not own the land. We will not be building it ourselves. We are purely the developer and will receive a developer fee once the project has completed. My question is - when do I recognize the revenue and when do I recognize the exp...

4
+3
Development Underwriting and Waterfall Modeling

JW199619

Hi all, I'm hoping someone can help me with a development model I'm working on for a real estate modeling class I'm taking. Just have a few questions that are really frustrating me: Hard costs are 90 MM. Soft costs are 10 MM. Project costs are 100MM in total. Project will be completed at 36 month...

6
+2
Commercial Real Estate Broker Mentorship with Top Brokers in Office

abc1324

Hi Everyone, After undergrad I have plans on going into commercial brokerage at places like JLL/CBRE/M&M. Let's say I get an offer as a broker at JLL/CBRE/M&M and get put on a team that's above average, but not the top grossing team in my office. Since I'm new my goal is to learn, build connections...

5
+2
Skills Needed to Break Into Acquisitions at REIT or PE Firm?

PDiddy-72

Can anyone comment on skills needed to break into an acquisitions role at a REIT or at a PE firm? I'm currently a 2nd year analyst with a small LIHTC developer. Creating a plan on the skills needed to move into acquisitions at a REIT or PE firm in 1-2 years. Skills/Experience I Currently Have: Int...

1
+1
past stupid question, don't read

Pretty-Princess

Real sold my in call. Invitation on an advantages collecting. But event old above shy bed noisy. Had sister see wooded favour income has. Stuff rapid since do as hence. Too insisted ignorant procured remember are believed yet say finished. Six started far placing saw respect females old. Civilly w...

1
+1
Argus Enterprise Tenant Groups - Space Absorption

_Axelrod

So in DCF you could include space absorption in tenant groups in order to aggregate tenant cash flows. Has anyone figured out how the hell you do this in Enterprise? It seems as though this functionality has been removed. ...

1
+2
I’m looking property to let Edinburgh, is hiring a letting agency the way to go?

lettingumega

Being a landlord is not easy. It takes a lot of time and expertise, which I have recently learned when the responsibility of renting out our family home in Edinburgh fell on me. I am looking to rent my property, but my day job keeps my so busy that I don’t really have the time and bandwidth to l...

1
+1
Investment Property Modeling Through DealCheck

Carl Icahn't

Has anyone used an app called DealCheck (link below) for their investment properties? I've been using an excel spreadsheet to project my returns, but this seems nice since you could update your assumptions live. https://dealcheck.io/...

2
0
Linneman - Real Estate Finance MBA Book

DC3

Just completed MBA semester, finished with the textbook and selling it. Its Real Estate Finance and Investments Risks and Opportunities 5th edition by Peter Linneman. Good book for beginning to fairly advanced info, or for MBA courses. Selling for $150 (shipping included). On amazon for $220+ link ...

5
+1
Size of REIS / CoStar / RCA customer base?

prilutsky

Anyone have an educated guess as to how many broker/investor/lendor shops exist in the US that would need the kind of real estate intelligence these folks provide? I'm from outside the real estate industry so hoping that you "locals" have a better finger on the size of the industry - thanks!...

5
+1
Jamestown Properties Interview

rdw2ts

REPE firm in Atlanta. Have final rounds this week, wondering if anyone has any insights into the process. I know there is an excel test as well as a writing test. Thoughts on what to expect?...

4
+2
Valuing Large Portfolio of Performing Loans (Senior, Mezz)

INeedASpaDay

What factors would you look at for valuing a large portfolio (thousands of individual loans) of performing loans? Is it the same metrics you would look at on an individual loan (LTV, coverage, DY) except on a blended basis? If someone can provide some resources/color, that would be greatly appreciat...

8
+1
Breaking into Acquisitions internally at a small REPE shop

Leverup13

Hello all-- Just started as an analyst in "asset management" at a small REPE shop recently. I am a little disappointed as I notice the role wasn't exactly what I expected since it is a small owner operator my responsibilities include more budgeting, rent rolls, pricing tenant leases, and basically ...

3
+7
Thoughts on CRI (Chartered Realty Investor) designation?

tandrew

I've heard plenty about CFA, CCIM, etc...but don't see much talk about the CRI designation and I'm curious if anyone has any insight or opinions on it. I'm currently in brokerage (4 years) and trying to get into an acquisitions role with an owner/developer. My bread and butter deals are typically us...

22
+3
Goldman Realty Management Superday Dallas

grandmasilvia123

DId anyone hear back from the Realty Management Superday in Dallas on 9/14/18? Trying to figure out if they have made decisions already or if they have not delivered them yet....

8
+1
hotel acquisition diligence

socola2003

Working in primarily development and debt/equity investments here so haven't done much in the way of hotel acquisitions. But curious, when you guys are diligencing an operating hotel asset, why or do you spend much time on diligence the historical property operations (staffing, marketing, ops, etc)...

1
+1
Getting into CRE Asset Management

Mgeno13

Currently, right now I am in a CRE assistant property manager position at a big firm (think JLL, CBRE, and etc.) in a major market on the east coast (Bos-Wash corridor). I have a BS in Economics from a non-target school but I am trying to make the jump into Asset Management in CRE and I was looking ...

1
+2
Development / Family Office Comp

C.R.E. Shervin

There has been so much info on REPE's I wanted to ask WSO users on their experience working for family offices, who are essentially the GP in mostly ground up developments, with some value add and covered-land deals. We have a pipeline of $3B in development slated for the next couple of years, I've...

2
+1
Looking for Minneapolis Folks

earlgrey

I just relocated to Minneapolis to study economics at UMN after working in multifamily/mixed use management. I’m looking to start networking, but also just get to know people in the area (more the latter since I’ve got 4-5 semesters to go). Anyone want to grab a beer?...

1
+4
Bad GPA, Employment Gap how do i land a job in CRE

AlphaGains

I graduated from Penn State with a degree in Finance in 2015. I did not know what sector that I wanted to go into and had plenty of entrepreneurial aspirations anyways. So I got the genius idea to work in fields totally unrelated to my major as a way to have more time to figure out what I wanted t...

7
+2
Top REPE Fund Modeling Test - LBO?

jv9010

Have been at a smaller REPE shop for 2+ yrs on the acquisitions side. Am in the 2nd round for a top REPE fund in their European office. Feel very comfortable building model/amort table/waterfall from scratch, however this company (specifically the European office) has recently been doing LBOs / majo...

1
+2
Any other full-time Americans university students in the UK trying to find a job?

Marcus Furius Camillus

I was wondering if anyone had any advice regarding the best way to secure a position in the CRE investment industry if one is an American national studying at a UK university. Even though it is illegal for employers to discriminate against you based on your nationality, everyone does (either explici...

10
+1
Which location is best to buy farm houses in Rajasthan?

naturevalley-farmhouse

Which location is best to buy farm houses within budget with all facility and amenities in in Jaipur ,Rajasthan? ...

1
+10
Cold email networking while employed?

press107

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 am wanti...

33
+1
Scrap please

Anonymous Monkey

Please delete ..................................................................................................Gshskdnks Please delete Please delete ..................................................................................................Gshskdnks Please delete Please delete .........

1
+4
Definition of a Feasible RE Development

LaHuncho

Hey all, as an undergrad student I've been researching the industry a lot and a term I've seen constantly used is feasibility. How would you describe what a feasible real estate development is? Thanks in advance....

15
+1
Advice Needed: (Corporate Real Estate wanting move to CRE Analyst)

CommieReals

I am 11 months into my first job out of undergrad. I am working in the real estate group of a large hospitality/entertainment company (hundreds of properties, both leased and owned). The RE team is comprised of 3 people and I am the youngest person in the group by 35 years. My responsibilities inclu...

3
+1
Capital Markets in 2008, Brainstorming Interview Question and am Curious

abc1324

I have a meeting coming up with a guy in capital markets. I'm putting together a list of questions and one that crossed my mind was what do you do in a situation like 2008 where people aren't really looking for money to put into new deals and if they do deals they aren't as big as before and thus le...

1
0
ARGUS Developer module

socola2003

Has anyone worked with ARGUS for a development model using their Development Module? Pros / Cons to the product? Does it work across all asset classes (incl hotels, mixed use) and how flexible is it in driving assumptions (different % debt/equity draws, timing of cash flows, sensitizing terms of d...

11
+3
MS in Real Estate Options in DC

JmS1

Hi, I know there was a thread created a few years ago, but I wanted to see if anyone has done either the Georgetown MSRE or the Johns Hopkins MSRE programs? I'd be doing the part-time at either program and still working. I didn't know if one was perceived better or had a bigger alumni network? I kn...

7
+2
Related Affordable

CREmoneymoney

Related's affordable housing developer group. Does anyone have experience working for them or with them on deals? What was your experience like? How's the group's overall reputation? ...

1
+2
Post MBA Career in Real Estate

Gleeman2873

First of all, I did read a lot. So I won't ask whether starting in REPE is possible. My background: MBA in a good school (top 20). Was an accounting professional in RE area before for 5 years. I feel getting into REIB seems to be more practical considering that I don't really have buy/sell experie...

1
+2
Rite Aid- has anyone worked on a recent deal?

Brody92

Looking at a deal from the debt side. Subject is not a Walgreens owned location. It is my understanding, that non walgreens owned locations are getting killed in terms of cap rates even if they have 10+ year leases. There is a risk premium attached and cap rates are 100-200 points wide. I am seeing...

8
+3
Moving From Informational to Actual Interviews

smashCRE

Hey all, Long time lurker posting for the first time. So, I am a graduating senior trying to land an IS Analyst roll for some of the top teams on the west coast. I have been doing informational interviews for months now, networked my ass off, have made a bunch of contacts across the industry, and g...

3
+1
Cold Emailing REPE or Development firms without email address

Goldman Quacks

Background: Graduated college in May and took a few months off after graduation. Just moved to Texas (DFW area) and currently looking for an analyst position. 3 internships (all different cities in different markets), one in REPE and two at major brokerage shops. Decently connected in brokerage d...

1

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