Silver BananaTopicReplies
+14
Who is buying this stuff? Brokers and PE analyst/associatesBrokers are doing their job well. In an environment where deals fall through off rising rates, which I assume means they were too sensitive to debt anyway, properties are trading at cap rates where even with aggressive leverage, they will likely deliver sub 15% IRRs, and sub 8% coc returns after fee...
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Analyst Test and SensitivityHello, Building out a model for a value add fund. First step is a single asset and then building out a fund of similar assets. Not too bad so far since they give you a waterfall sheet. Anyways, looking for advice on building a sensitivity analysis. The owner said no macros, looking for somethin...
13
0
Goldman MBD Virtual Interview? I just got an invite to complete a virtual interview w/ GS for an MBD summer internship. Do any monkeys have insight on their virtual interview process and/or anything they can share about the MB division? Greatly appreciate any of your feedback. ...
1
+4
Naftali GroupAnybody in NYC have any thoughts/opinions about this firm? Seems like they were very active for the peak of the condo boom but have slowed down significantly....
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Companies that pay for Grad schoolHi All, I am curious if it is common for any of the investment banks to pay for Grad school? I would like to get my MBA but I obviously would rather a company help me with it than take on all those school loans. Thank you ...
6
+1
Capital Markets Financial Analyst TestHi All, I was in the Wealth Management industry for 2 years, had my series 7 & 66 and realized it wasn't for me. I moved into Commercial Real Estate, hoping to break into capital markets, but with no luck and found a spot as a consultant at a major CRE firm in a major US City. After being in my...
1
+3
Career Moves Out of CRE BrokerageHello WSO-- I'm in a bit of transition and was hoping some of the members here could offer some advice. I have an MBA from what I believe would be classified as an upper second tier university. I grew up around real estate (warehouses) and have been working approximately 3.5 years in CRE brokerag...
20
+6
What is everyone's opinion of: Castellan Real Estate PartnersI see these guys posting from time to time on the cornell-baker board. What kind of shop are they exactly? What is their reputation? Analyst/Associate comp? Exit ops? Would you want to work there, etc? Cheers!...
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+11
Why do you love Real Estate?Believe it or not, a lot of people have a hard time answering this question. I personally love real estate because it has played an integral part throughout my life. It allowed my immigrant family have a stable lifestyle, and allowed me to have a stable childhood. It's not only one of life's neces...
28
+1
Development Professionals - Any Market/Level....Anybody who has touched development, would like to get your thoughts on the following: What are some of the most important pieces of information you would like to have if you were considering a development in a given area? I would like to think the general state of the market in that given area, f...
4
+1
Morgan Stanley and JP Morgan RE IBD Modeling test (London)First time poster here. Hi guys, does anyone know what the Real Estate IBD modeling tests are like at these 2 shops? I was from a REPE background (albeit outside of the UK) so while I am used to the normal development and asset-level real estate DCF (including waterfalls), I have not worked in RE ...
2
+26
A Discussion on Interest Rates/Macro Fundamentals (Long OP)While there was a recent thread about buying in a rising interest rate environment, I'd like to have a thoughtful discussion about where you're predicting interest rates to be in 1-2 years and how that will impact the market, if at all. To preface the discussion: I first entered real estate shortly...
63
+2
CBRE Financial Analyst - Debt & Structured Finance, Multi-FamilyAnyone hear willing to share insight on CBRE's Debt & Structured Finance, Multi-Family team as a financial analyst? I think it deals mainly with Fannie Mae and Freddie Mac. Would this position allow me to move into lending or underwriting at a bank? I have been appraising for nearly five-years, an...
4
+3
Cash on cash in portfolio with staggered exitsHi all, Just a quick question.... I am currently working on a portfolio which is forecasting a healthy CoC throughout the hold but in the final stages of the hold period the CoC takes a hammering because we are selling assets at different points. So I was just wondering when calculating your CoC...
10
+2
Residential RE Investment QuestionAny thoughts on how to structure an example residential real estate opportunity below: Person A wants to buy a primary residence but does not have the capital for a down payment. As such, Person A has asked Person B to provide the capital for the down payment. However, Person A would be paying the ...
1
+1
Construction management classes beneficial for development or just network more?Looking to get your guys opinion on this. In the next few years I want to undertake a small development project on my own. Would you recommend taking some construction management classes at the local college? Looking at old threads it says that the classes will help you get a handle on things, b...
2
+1
Meeting with Valuation Managing DirectorI am meeting with the MD for a top brokerage firm in their Valuation/Appraisal department for my final interview. Most of my time has been spent in more the finance and trading side of the industry however I would like to be making a career change to Real Estate and I believe valuations would be a g...
1
+1
Thinking about NYU MSRE Too late for fall deadline?Hey all, I am thinking about doing the NYU MSRE and ideally would like to be in there for the fall semester (which I understand starts in September?). Is it too late to apply seeing as it's now early June and is there any reason I should not apply, I have roughly 3 years of experience (2 resi/1 CRE)...
3
+1
Real Estate License historical exams Hi guys, no cheating! but Is there any information about how to collect all the historical real estate license exam? I am preparing for the real estate license exam. It would be great if I could find all the resources on historical exam, so that I could practice it. ...
1
Hines Interests Limited Partnership - Review - Real EstateGreat work-life balance, extremely strong caliber of colleagues, complex and interesting deals, substantial opportunity to make solid income if you put in the time. Well-respected firm in the industry.. Paid time off is limited to 3 weeks even at 4 years of experience; look at a lot of deals but don...
+3
AM at REPE vs owner/operatorCan anyone comment on how asset management is, at a fund vs owner? Say doing AM at a Prudential vs a Vornado...pros/cons of each? ...
7
0
NCREIF Cap Rate DataHi guys, I've been trying to get NCREIF's database for a project I'm doing but can't find the raw data on it (only graphs). I was wondering if anyone knew where to find such data or had access to it and would be willing to forward me the cap rates for NCREIF Property Index for 1972-present? Any hel...
25
CBRE - Review - Debt Capital MarketsGood Environment, Nice people, fast pace everyone is helping people are willing to talk to you anytime . long hours Fast pace environment commute is hectic alot of underwriting large office not many people under 26...
+1
Slow Burn - Hide the Cheese - Brokerage Job Currently in the finals for a paid entry level brokerage/business development position with a (CBRE/Colliers/Eastdill) in a major market. They met me -> they liked me -> I expressed an *interest* in brokerage -> they dinged me and set me up with a business development/associate position on their bes...
1
Related Companies - Review - Real EstateLove working for a high profile company due to the people you are around. Hours are somewhat alot but the pay makes up for it. Easy commute from Jersey City is also a plus. Working for such a large company also means you are more hands off on the job, rarely any site visits, rarely any real in depth...
+1
Commercial Office Loan Vs. Multifamily LoanHi Guys- I was just wondering when looking at how commercial office loans and multifamily loans are structured what are the key differences? I have only worked in the multifamily industry and am just curious if there are different structures and metrics that are considered for the different propert...
2
+9
Real Estate ResourcesHi, 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 compression, rents, fi...
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+3
Anybody here have any experience brokering data centers?I am going through a lease for a data center, and it so different compared to a traditional lease. Base Rent is not $/SF. It says base rent is $XXX per kW per month multiplied by the amount of Tenant Critical Power delivered to the tenant according to ramp schedule. And the ramp schedule is like P...
1
0
Acquisitions associate salary at small development/investment companySo I have an interview set up with a real estate company (development, construction, investment, management). I am wondering what salary range this job is in. The factors are: one hour outside of major city (think allentown pa, stamford ct type place) company is around 200 employees projects are non...
69
+1
How to become RE Investment AnalystHi All, Reaching out looking for advice. I've spent 3 busy seasons at a Big 4 Firm - Looking to transition in the Minneapolis market to a Real Estate Investment/Development firm as an Investment Analyst. I've been looking for about a month and am continuously being told how difficult it is to trans...
4
+1
Excel Sum RowsI have an x and a y axis, how do you sum partial range, a row, based on two column inputs. Not the entire row, but say if my y is labeled 1,2,3,4,5, and x is 10,11,12,13,14,15 then y2,x12,x13 ...
5
+1
Massimo Group Training Does anyone have experience with the Massimo Group's broker training platform? There is not a lot out there in terms of reviews and I have not ran into many at all that have tried it. I receive their free email blasts with "tips" but they seem to be a bit generic or bait to buy something from them....
10
+1
From RE analyst to IBI recently landed a job out of college at Guggenheim as a real estate analyst. I was curious if anyone can give some insight on what it takes to internally make the jump to investment banking from the real estate side. Thanks all!...
4
+1
Life at smaller firmsI see a lot of postings on LinkedIn and Select Leaders for boutique investment RE firms. Not your big PE places, I guess small shops based in NYC with what I assume small teams. Experience wanted isn't crazy some just asking for undergrad or 1 year exoerience and then some preferred quals. Had 6 mon...
30
+8
Regrets About not Going to Corporate Finance?I'm sure most of you here have a passion for real estate, and that's why you work in the field or are trying to get into the business. But I have a controversial question... Skip to the last paragraph if you don't want to read my rambling examples in the middle. For the Brokers, do you ever wish ...
46
+2
Becoming a Broker/Dealer to raise capitalIn the past week, I have met with two private RE groups, both of whom have been in business less than 5 years and have accumulated roughly $400-$500MM of AUM primarily doing B/C multifamily in secondary/tertiary markets, using primarily family office capital for equity. Interestingly (or maybe not)...
1
Yardi systems - Interview - Technology ConsultingAptitude test was the unexpected ones. Then small details or functions about the skill is asked.Like I was interviewed for SQL ,so they asked me to write basic queries on finding out 2nd highest or 3rd highest salary. Difference between the basic functions like UNION and UNION ALL. Difference betwe...
+1
Appraiser questions - Where do you work (boutique or big shop)? - What was your academic background before the job? - What did you do to get the job/what was your route? - What is your day-to-day like? - What is your pay and hours? - Would you recommend this job as a first job in CRE? - If you are no longer doing app...
4
+1
Life Co Internship Ex Ops?Hello! Thanks to the advice of WSO, I began networking and got myself an internship in the CRE department of a regional LifeCo company that invests in commercial mortgages. My question is how do I leverage this position or make the most of it? From my interviews it seems that they deal with mostly...
5
0
Cantor Fitzgerald -- Real Estate Does anyone know anything about the real estate arm of Cantor Fitzgerald? I understand that they recently launched a few non-listed REITs and have been trying to branch out into the investment management business. What are peoples thoughts? What is the reputation of Cantor in the RE World? ...
5
Bank of America Merrill Lynch - Interview - Real EstateNothing out of the ordinary. Most questions were specific to commercial real estate lending or behavioral. Make sure to review various asset types, know specific metrics or valuation specifics to each type of property (eg. Multifamily Residential versus Retail / Industrial / Self-storage / etc. )....
+3
Construction Cost Curve and BudgetSo I have modeled out our dev budget and proforma projection and encountered a problem that I hope any could help me with. our model has acutal inputs and projection based on s curve/linear/manual. The problem I encounter for a given cell that is either populated based on current date with actual ...
11
+2
BIWS RE Modeling vs. Premium Looking into either taking one or both of these. I'm a non-finance major with a year left of college. I'm decent with excel and a total beginner in all things CRE. Which would yall recommend? If both, which should I take first? Would I be capable of them or would they be too advanced? Thanks in adva...
8
+25
Analyst Interview - Common QuestionsHi, I have a partner interview with a large commerical real estate firm, and I was wondering if anyone had any insight into what type of questions I should expect and how to best answer them. I've been told questions will be mostly fit questions. Any help will be greatly appreciated, and silver ban...
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+6
Just graduated and don’t have a job?I just graduated on Saturday. I have a few offers, but haven’t accepted any of them since I am not incredibly crazy about any one of them in particular. They range from investment consulting to corporate finance. I want to break into real estate and I have applied to a handful of firms (~40) in ...
26
0
Real Estate vs PhilosophyHi everyone! At the college I will be attending, I was accepted into the Philosophy Honors Program. Meaning, instead of the normal general education courses, I would be taking classes in philosophy and english literature instead. Is this worthwhile for a finance career, or does nobody care about the...
5
+2
JPM Asset Management - Real EstateAnyone have info on JPM Asset Management - Real Estate? Comp/hours/experience at the Analyst level?...
56
+2
Sam Zell at REITweekHe's at it again: www.therealdeal.com/2018/06/06/i-dont-think-theres-ever-been-a-we-gotta-get-more-p-on-the-block-ok-sam-zell/...
1
+1
Marcus Millichap Training MaterialsDoes anyone have their investment sales training materials? I know there was a past post on this, but I haven't had any luck getting the documents. Please PM me if you do. Thanks in advance....
1
+1
Goldman Sachs RMD VP Salary?On my throw away account here... Wondering what the base salary is for VP in Goldman Sachs Realty Management Division. I'm speculating somewhere between $160k-$180k. Anyone familiar?...
5
+2
1031 Exchange information and resourcesHi, I am new here. I have been looking into new investment opportunities. I really like the tax benefits of 1031 exchanges but I need to do some more reading / research to see what kind of return I will be looking at. Does anyone have any recommendations on where I can read more about 1031's? M...
6
+1
Ares mgmt REPEHi guys, first real post here. Saw that Ares had an analyst role up on LinkedIn and was curious if anyone had any intel on the firm’s reputation or position in the market. I know they have had some high profile investments in the past (ritz Carlton Kapalua, Maui) but haven’t heard much about th...
1
+2
The American Dream - Dead or Alive? The ideal of the American Dream has changed - Do you believe it is dead or alive? http://buff.ly/2hbWWRn ...
1
+4
Job Oppertunity - Commercial Real Estate FinanceHi guys, I have been a longtime observer of the forum and it has helped me immensely over the years. I wanted to post an opportunity here as it might help give back to the WSO community. I currently work at a small firm within the CMBS market and will be transitioning out in the coming months. This...
3
+5
Typical Length as an Analyst before promotion?I am currently going on my 3rd-Year as an analyst for a debt side lender (Almost to year 2 at my current company), however, I keep getting plastered by recruiters who only want me for their analyst positions and we have had two other younger analysts move to a new companies for mainly the same role....
14
+1
Best Atlanta Real Estate AssociationsDoes anyone know what the best Atlanta real estate associations are to join in terms of networking? I am just about to move there for a job and am looking to build connections and meet some folks. ...
5
+1
Internship/Career Advice I'm currently a rising senior at a non-target school in the DMV area. I've had previous internships with a small scale house-flipper and one in a property management role with some ad hoc asset management and acquisitions tasks. Currently, I've been interning with a real estate developer for the las...
1
+1
Roles in Investor Relations and Reporting Does IR equip with much skill to later go into acquisitions or development? These teams often seem small when RE firms do have dedicated people. There seems to be a trend as i've heard some firms are forming or adding to those teams. I'm not sure what "property-level" analysis you could gain or dev...
1
+3
Top Los Angeles Multifamily REPE shops?Currently in another top tier CA city doing acquisitions in multifamily, looking to make the move to Los Angeles. I am familiar with a lot of the big firms who have LA offices, and am obviously doing independent research, but any additional info would be a great help. It is harder to find the small...
13
+2
Multifamily Investment Sales Brokers in BostonGents, Do we have any forum members who either are or know someone who specializes in Boston Multifamily? Specifically, Class A / 10-25 Story buildings. My team and I are heading there early next week to conduct diligence on a development opportunity in that market. It'd be great to either hop on t...
9
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How do you break into RE Finance from Tech?Hi WSO, I've currently been working for a tech consulting firm for almost 2 years now. This was my only job out of college so it was either take it or leave. However, I've always been interested in pursuing real estate finance as a career (I even did a real estate finance internship prior to my ful...
1
+7
Would I get hired after graduation? I have a year left at a state college (Texas State University) and would would like some input yall think I would have any issue getting hired after college. I'm thinking either analyst or appraisal for a few years and save some money and become a broker. Facts/assumptions: - Age: 24 - Degree: Co...
42
+1
Wells Fargo FAP CREHey guys.. I have a phone screen next week for Wells Fargo Financial Analyst program specifically for CRE. Originally thought this was for recent grads but figured I’d apply and ended up being reached out by HR. I know WF is notorious for behavior questions on initial screens and then technicals f...
3
+1
Kor GroupThey have been around for awhile, heavy focus on boutique hospitality but have done some other non hotel stuff as well. Wanted to see if anyone had dealt with them on business side or knew anyone who did/does work there. Reputation, etc?...
3
+1
Anyone have a retail excel practice test?I have a final round which will have a retail excel test ( I'm assuming) as they only focus on retail. Does anyone have a retail practice test they could send me? Thank you....
1
+1
Bulge Bracket CRE Debt Asset Management?Want people's take on this role presented by a recruiter. Bulge Bracket bank (think GS, MS, JPM) Asset Management Analyst in their CRE debt lending group. Job description reads like back-office portfolio management. Snippets from what was sent my way: Asset management team has ownership for all fac...
5
+2
Net Lease REIT Exit OpsI work for a Net Lease REIT in acquisitions. This is my first job out of college, decent pay, awesome work culture/bosses. However, thinking about exit ops gets me a little worried. I feel like I will have good experience, especially starting my career on the acquisitions side, but I don't want my c...
1
+1
Real Estate office excel model testHave an excel model test, probably office, in a couple of days. Anyone have any sample office excel tests? What should I expect? It is an entry analyst position, and they are aware the only real estate experience I have is from a year of MSRED. Please pm me any tests, if you are willing. ...
1
+1
Real Estate Secondaries Can anyone please explain in depth what participating in a real estate secondary really is? I have been doing extensive research but have yet to get a clear picture in my head with examples what companies who start secondary funds do with their deployed capital. I would appreciate any insight. Tha...
4
0
Buy Side -> Sell Side - Mistake?A little background: - I started my career as an analyst on a top investment sales team (billions closed annually) for two years. While grueling, it was just about the best training I could have asked for-- huge deal flow, complex and varied transactions, and got to build a good network. -I was p...
3
+2
RE Valuations --> MSRE --> CMBS AnalystJust a little background on me. Graduated recently and got a gig in PWM investment research department. I then quit to go and trade Forex for about a year. With that said, Real Estate is something that has interested me for a while and I was recently offered a position in CRE Valuations at a top fir...
5
+1
Ignore this........................................................................................................
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Cambridge MPhil Real Estate FinanceHello all, I have dug around the forums and internet in search of current information on Cambridge’s MPhil Real Estate Finance. Most posts seem to be rather old and risk being outdated, so I am posing the question anew: how is the degree viewed in the real estate and finance industries? I have ...
7
+2
Modeling Office w/out ArgusI'm trying to model a 20+ tenant flex-office complex and the firm I'm at this summer doesn't have Argus - it's not been a fun day. Essentially, I'm having a hard time getting a dynamic Excel model because of the reasons that Argus was created (i.e., intelligent renewals & differing reimbursement sc...
3
+1
NPV in ExcelCan someone please advise me on whether I should use the NPV or XNPV function in Excel to calculate the FMV of cash flows that are not annual (i.e. monthly, quarterly, semi-annual)? All cash flows are expected on the month-end date for each respective period. Thank you in advance!!...
5
CBRE - Interview - Real EstateOne question had to do with where I see the Commercial Real Estate industry heading in the next 10 years Another question I had was what is my greatness weakness and how I plan to overcome it A lot of questions were situational, such as what would I do in a situation where my boss and I disagree and...
+2
Land Development Internship starting next week... what should I expect?Starting my internship in land development with a very large residential developer (largest privately owned home builder in North America). What should I expect out of my first internship? Anybody work in LD? Would love to hear your experiences and would appreciate any pointers....
5
+1
Portfolio analystCurious on people's thoughts on portfolio analysts in real estate. Been looking at roles, seems very involved in valuations and cross department coordination of results. How is this position viewed in the RE industry? Currently working in accounting, looking to do more investments/front office. ...
4
+2
Economic and Community Development OpportunitiesI'm not really seeing much in the way of discussion surrounding opportunities both within the field of economic and community development, and the exit opportunities into other industries (private real estate, finance, and politics namely). So I figured that a thread on the subject could be pretty h...
3
+1
California Multifamily Rent Control - Costa-Hawkins RepealDoes anyone involved in California Multifamily have any insight on the potential repeal of the Costa-Hawkings Act? I've spoke to a couple of brokers in LA, and they seem to be very certain that the Act will indeed be repealed. This could open the floodgates of new rent control measures across the st...
1
CBRE - Review - Real EstateHigh quality advancement structure with increasing responsibility and associated compensation/benefits. . First few years were a grind with long hours spent on boring deals. Can sometimes be difficult to get involved with interesting deals. ...
+5
CRE Credit Analyst Career PathCan anyone speak generally to the CRE credit analyst career path and what reasonable exit opps are after a couple years?...
5
+1
create a model to find construction loan interest RATEDoes anybody know what the criteria are to determine what would be the interest rate for construction loan? If i want to make a model for a boutique bank to set up interest rate framework/ model for developers for construction loan! ( how should I calculate the rate and how can I get to the rate ?...
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