Silver BananaTrending Content (see all)Replies
+8
Why do the most prestigious RE firms focus on huge, class-A buildings in top markets?

BeaconStreet

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,...

33
+7
We might be at the bottom in Multifamily (MF)

PacNumber

It was just a few months ago when treasuries were at 3.25% and it appeared that 6% interest rates were a year away...5 caps in major markets appeared to be upon us. Then it didn't happen. Since I got in the business in 1995 one thing has remained true, we never raise rates to previous...

37
+7
Real Estate Mezzanine Debt - Cause for Concern?

FutureCEO3

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...

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+2
Advice for an incoming summer analyst

rrefinn

I am heading into a summer analyst role this summer at a major sell side RE shop. What can I do now to prepare and when I am in the office to ensure a full time return offer?...

5
+4
Multifamily Developers and Acquirers: What do you look for in property management firms?

bigreguy

Just curious to see what developers and acquirers of multifamily assets look for in property management firms? Or do you guys have connections with a single firm? ...

22
+17
Everything You Could Ever Want to Know About the Property Characteristics of Warehouse/Distribution Buildings

Trunk Yeti

I found myself wanting to have a deeper understanding of the property characteristics of industrial buildings, and really went down the rabbit hole on research. I aggregated a good bit of information for future reference, and thought this may be of interest to others. If you've ever been curious a...

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0
What types of software applications do commercial real estate brokers use in the absence of an all-encompassing CRM system?

opus1723

The commercial real estate brokerage that I will likely be joining currently has a custom built CRM system--built on top of Microsoft Dynamics--that nobody uses. Instead they all use mostly excel. Given that the brokers in this office are generally in their 40's-60's, I'm sure they are not fully ava...

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+1
Hiring the most suitable property management service in Edinburgh

lettingumega

Being a landlord is not easy, there are a host of pros and cons that you need to know of, and follow, to rent or sell property in Edinburgh, Scotland. Whether you’re a landlord, or have recently inherited property, a property management service in Edinburgh can help you make a wise decision. Pro...

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+1
City National Bank

hard assets

Does anyone have any insight into working at a place like City National Bank? It seems like they are really building out their team and opening up some new offices. I hear they're doing quite a bit of construction loans and i've seen several people from Wells Fargo move over there. I'd appreciate...

1
+2
Insurance companies with Real Estate Arms? Allianz and Metlife?

greekmyth

I need some advice. I received an offer from a small re pe shop but I'm also in the first round interviews with Allianz and Metlife for their real estate debt divisions. Has anyone heard about Allianz or Metlife or knows what the culture/pay/growth projection is? Is there any reason to take a Metlif...

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+4
Ground Lease Payment Question

jkl123

I am doing a case involving a public/private development. The public entity owns a ground lease which we will be developing on. The case asks us to estimate the annual ground lease payment the developer should negotiate. Can anyone provide any insight into how I may go about estimating the ground le...

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+1
RE Programs First Year out of College

Jtsu12

Incredibly interested in commercial real estate and am struggling to get a foot in the door. Want to land at a debt fund/developer long term but need to start somewhere and mainly learn. Considering investment sales/large brokerage house back door, but would rather start in the commercial lending si...

1
+4
Question about CRE Lending compensation for Life Co

Mavs41FTW

Hey all, I am curious as to the typical compensation in CRE Lending for a well-known life company. I was told for a first year analyst, 70k + 7.5-10 signing + 18-25k year-end bonus as considered good. I was wondering how this stacks up to bulge brackets as well?...

32
+3
3-4 Unit Rental Properties Under Trump Tax Plan

Pokemon Master

Is there anyway you can take out a residential mortgage for a business that owns 3-4 unit rental properties? If not, it seems like buying 3-4 unit rental properties no longer makes as much sense with the new tax code. You either need to choose between being a business that can write off interest and...

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+4
Single Family Homes vs Retail

PDiddy-72

I am currently weighing two job offers. One is at a development shop that focus's on shopping centers and STNL properties, the other is in an acquisitions role for single family homes at a tech startup. I see pros and cons to both roles. Would you choose experience in single family homes or in reta...

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+4
How to pick a good investment sales team?

dax12345

I have read a lot of posts on this site stressing the importance of working on a solid team when it comes to starting your career in Investment Sales. Besides getting along with the brokers/looking at active listings and past deals online. What are some other good questions to ask and sources to loo...

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+9
Eastdil RE Analyst Interview Coming Up - Excel Test

ThatHokie

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 DCF, with levered/unlevered IRR, and a full amortization schedule. Was hoping that someone might have some materials either specific to Eastdil or anything else that would help ...

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+2
Distressed Debt investing in Single Family Homes

vintagegmt

[There was an article in the WSJ](https://www.wsj.com/articles/a-decade-after-the-housing-crisis-small-investors-try-to-bring-busted-mortgages-back-to-life-1542734455) last November on how it's becoming increasingly popular for individuals to buy non-performing loans on single family homes. I'm just...

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+1
Thoughts on Greenwich Group International?

WallStJesus

Monkeys, What are your thoughts on Greenwich Group International's investment banking division? I'd appreciate any insight regarding their culture, deal flow, comp, and exit opps. Their website lacks information regarding recent deals, but from what I can gather their IBD focuses on debt and equit...

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+1
Real Estate Tax Shelter Fund

REPESailor2020

Real estate is a great tool to shelter wealth. 1031 exchanges, interest write offs, depreciation. People who are not designated "real estate professionals" or without passive income (being subject to passive loss limitations) cannot benefit as significantly as wealthy people with passive income. I...

2
+1
Co-Invest - Unpromoted

creislyfe

My firm is allowing me to co-invest in the GP stack on an un-promoted basis. I want to be sure that I fully understand how the WF will ensue given that my contribution will not be promoted. I will receive my pref + capital contribution, and any remaining cash that falls through the promote WF stru...

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+1
What Better - Nationwide Debt Platform or Tier 1 City Equity

dipndunk

Sort of in a dilemma team. I have the ability to go to either a top tier lender that lends nationwide on Value-Add/Transitional/Development deals or to a tier 1 sponsor in a tier 1 city. Long term, I think I want to do pure-play LP capital allocation. What's going to set me up best?...

1
+1
Find High ROI Properties

Grant-Yasrebi

Founder of Caproi [1] here. If you're looking to find investment properties with high cap rate we've made a tool to do just that. No more spreadsheets and complicated formulas. See the same listings as MLS but with a cap rate based on rental comps and airbnb comps. Listings are as up-to-date as MLS....

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0
MCube Financial?

Forex Swings

Anyone know anything about these guys? Specifically the Charlotte office. Looks like they have a practice out in Asia and are trying to expand in the US. They say that they are a boutique consulting firm, i assume they just re-underwrite CMBS for lenders for due diligence purposes. Would appreciate ...

0
+8
Is 2 Weeks Notice Too Little?

PDiddy-72

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 3 week...

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+8
**What would you do**

Ralph_Lauren002

What would you guys do if you were in my situation? I'm currently working for CBRE/NKF/CW in my home state, but just got done with my final interview in NY for another position at another firm. I have always wanted to move to NY after graduation and now 1.5 years later I may get the chance. Now ...

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+2
REIT comp

BESTRE

Let’s discuss REIT comp Market: West Coast REIT size: >$10b AUM Experience: 3-4 years Hours: 50-60 Title: Acquisitions & Underwriting Associate Salary: $65k Bonus: 10% Stock: ~$2k Other: Generous PTO, health benefits...etc...

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+3
Post-MBA acquisitions at Starwood Capital?

okay24

Does anyone have any info on post-MBA acquisitions positions/trajectory at Starwood? Wondering about culture, comp, etc. Thank you!...

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+2
CRE broker who just passed the CFA exams. Now that my CFA journey is over, I'm a little lost.

Level 100 Magikarp

I apologize if you have already read my post before from another website but I casting a wider net to see if I can get some additional ideas. Hi, I feel a little weird asking for life tips on Reddit but here goes... Quick background: I graduated with a BBA in Finance (it's a US top 30 business scho...

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+2
Development Internship Interview Questions

CodyParkey

I have an interview coming up for a development internship with a large development company. What kind of interview questions can I be expecting? ...

4
+1
Quick Underwriting Question

JW199619

Hi all, I just graduated and started a new job as an acquisitions analyst and am underwriting a value-add office play. The property is NNN leased at 60%. Dumb question, but how would you go about valuing something like this? I know you take TI/LC into account, but how do you come up with purchase...

4
+2
Desperately seeking advice: NYC -> CHI Opportunity

Mandelbaum_Mandelbaum

Hello monkeys- I am contemplating a big career move and want to hear peoples' thoughts, for those willing to share. Currently I am at a HFF/Eastdil/JLL in NYC working in both debt placement and investment sales (multi specifically for IS). An opportunity to go work for a particularly active IS te...

8
+1
JLL PDS group

Shell architect

I have an interview coming up at JLL to join their Project and Development Services group (PDS). An old friend passed along my name to their local managing director, getting me an interview for a job that hasbn't been posted yet. I'm an architect with about 12 years of expereince and my end goal i...

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+1
Investment Analyst Position - Interview Questions. Super Nervous

StrictlyBusiness

I have an interview with a full service commercial real estate firm. They primarily do brokerage but they have an investment management arm that focuses on office and industrial opportunistic development opportunities and also assets that need heavy re-positioning. This will be the first interview...

1
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+7
What are some reasons that make sellers want to sell their investment property?

yayaa

Obviously there are many transactions that occur each day. I am just curious to why all these "smart" people in the industry would sell a property that they think is "good." Based on your experiences, did your firm ever question why a company was selling a particular property, and if so, why? Sh...

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+1
CMBS Traunch Understanding

cubemonkey08

Hey folks, Anyone have any literature on reading and understanding CMBS traunches from Bloomberg? Abbreviations, determining controlling classes, etc. Thanks for any help you've got!...

2
+1
A CPA looking to break into RE investment & development

jasonlu0519

I am new to this forum so any advice will be greatly appreciated. I am a licensed CPA here in LA who has worked in public accounting (National CPA firm, not the Big 4) for 2 years now. First year in audit and second year in tax. I have always been interested in real estate and have decided to purs...

3
+1
REPE modeling for different RE asset classes

internationalbankingiscool

Hey all - thinking of pursuing REPE and trying to understand the differences between acquiring casinos, hotels, resorts compared to traditional office and residential buildings from a complexity / modeling perspective. Would you still be building 3 statement models for a casino given the casino part...

1
+1
Kimberlite (RE IB boutique)

MrPopo

Has anyone heard anything about this bank? Anyone in the sector have some insight on the reputation/deal flow/etc?...

7
+15
WeWork?

Nousernamehere

Is it just me or is this firm moving and at a rapid pace which in my opinion may not end well..they are only 7 years running and in that time they have went from their core business of office coworking, to building a fund, elementary school and now are possibly going into retail and hospitality? The...

59
+10
Underwriting Analyst? Underwriter?

ayy

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? ...

41
+1
Retail Expenses in MU Model (w Office)

cpgame

I’m underwriting a mixed use development with office over retail. I’ve been told retail tenants will likely not pay their pro rata share of the CAMs for the entire building, but wanted to ask the forum how to best think through what building recoverable expenses CAN be assigned to the retail ten...

1
+8
Investment sales Training Materials

InvestmentSalesBroker

Does anyone have PDF copies of Marcus & millichap training materials? Or any other material on investment sales? Or can you point me to any sales training materials that would be helpful?training for both private capital and institutional sales would be great. Nothing in the marketplace seems to be ...

83
+18
HFF Drug Test Summer Intern

spunkyfunkymonkey

Hi monkeys, I have an offer for a summer internship at HFF in a large city (think NY, LA, Chicago). When I signed my offer letter it mentioned a drug test. Do any of you have experience to know when it would be? Would it be in May/June before I start or sometime this month (I just signed the offer l...

54
+3
capital markets comp and exit opp

RozzSchoolOfBiz

Difficult to found an accurate rating, what are typical comp/hours for analyst+ in capital markets and what are exit opps?...

7
+1
Any appraisers here in Philly?

Brody92

Have a very high level question on land value for a project in Southern Philly. Appreciate any help, thank you!...

1
+2
Pearlmark Real Estate firm overview?

Yahoo_1

I’m interested in roles there, what’s the quality of the firm compared to say Harrison Street or Walton Street? I’m looking to send in my application, but I’d like to learn a bit more prior to doing so just to be certain. My end game is REPE and deal flow is my top priority. ...

2
+1
Where to learn more about capital markets (prepare for interviews at HFF and others)

abc1324

Hi, As the title suggests, I understand the basics of capital markets but are there any books I can read to get a better understanding and be prepared for interviews at places like HFF, CBRE, etc. ...

1
+1
How to choose letting agents in Edinburgh

lettingumega

Most landlords will assign an agent to manage the rental and the selection is extensive. Take care of these things: **Choose the service level** Most letting agents offer three levels of service. Tenant-find, tenant find + rent and the full management. For new or less experienced landlords, the ful...

1
+2
First real estate job - Generalist at PE fund vs Acquisitions at Pension fund?

Leverup13

Just graduated from a non target in a suburban area and I am trying to decide between two offers to start off my career in real estate: -Acquisitions analyst at a top pension fund (think CalSTRS): fund is invested in half direct properties (JV deals/separate accounts) and half commingled funds -Ana...

8
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+1
Residential REITs to Watch?

ab1450

Anyone have some residential REITS to watch? Curious to understand the market and to look into the companies. ...

3
+8
Calling all people in Development

yayaa

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 architect? Also ...

5
+1
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 ...

8
+1
How To Get Extra Space Storage In Singapore

karanjohar

How do you get the best solution to extra space storage in Singapore? Our business storage Singapore offers affordable long and short term self storage space units with extra space storage to your storage needs at cheapest rental rates. **Our D storage space are from 100 square feet up to 10,000 s...

1
+1
NYC Jr. RE ANalyst

C.R.E. Shervin

One of my contacts sent me this job posting, and I thought I would pass it along to the people on this forum. This position is based in New York, their office is located across from the Empire State Building in midtown. Junior Real Estate Analyst Established owner/operator/developer across all ...

1
+2
Model Debt Draws / Requirements + Waterfall

MCROWN

Does anybody have a model for a real estate financing deal, where you can actually book inflows - sales while you are constructing? the unlevered cashflows stack up, but I can't get the draws right, given that in some months the inflow from sales is higher than the outflow from building, which seem...

4
+15
Best work life balance jobs in RE?

Nousernamehere

What types of roles in Real Estate Finance/ Development provide the best work life with decent pay??...

72
+1
Investing in real estate question

tommhealyy

If you had x million and had to invest in real estate which country would you invest in and why? Also specify which type of real estate - commercial, residential etc. One answer has to be in Europe and the other can be anywhere in the world. ...

6
+2
Travis Kalanick starting a RE Company?

Flores1234

Looks like Kalanick is making headlines again, but too the surprise of many, for real estate: "CSS is a real-estate company looking to buy "distressed real estate particularly in the areas of parking, retail and industrial," as Kalanick describes it. He says $10 trillion worth of this kind of real...

6
+4
CAIA Study Material

ISellMoney

I have a question. I recently took the CAIA exam and have a lot of leftover material/study guides/powerpoints that I paid good money for. I am wondering if I bundled all my files if people would be interested in purchasing them. Thinking ~$40 for it all, compared to the hundreds and sometime thous...

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+1
Capital Markets vs Asset Management

Research Rodger

I am currently looking to move from my current position in asset management at an MREIT to a more front office/deal facing role and found an opening for a capital markets analyst at a family office. Does anyone have any information on what the day to day for this type of position would look like as...

1
+1
AlphaCapitalCRE Chicago? Ever hear of it?

RozzSchoolOfBiz

In general, anyone have any info into Alpha Capital CRE in Chicago? Looks to be a smaller firm that still fends for its own.. I had a buddy intern there last summer but has yet to respond on experiences. Anyone know much about intern, full time analyst or firm in general? Is it truly respected or re...

1
+1
NYU MSRE - GC/Primary Sub to Finance

nycre01

Wanted to get some opinions on enrolling in NYU's MSRE program from the local CRE guys. Some background: 30 years old, BSME, 3 years in NYC RE with a GC as well as a facade contractor; prior project management experience in heavy civil equipment and commissioning. The ultimate goal is to fast track ...

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+3
What would you study with $10,000 a year?

ayy

Hello, I am currently few months into a new job in GSE underwriting. I just found out that as a part of the benefit package, I can get an educational assistance up to $10,000 a year. I am a real estate newbie with huge passion, but I am not sure what to study or how to improve myself to stand out ...

14
+2
Resume help - transitioning from development to investment management?

REFinanceGuy

I'm a bit late in updating my resume, but I'm seeing some opportunities that I am qualified for and appeal to me on the investment management side of the business. I currently work in development as a 2nd year analyst. There are a couple private equity openings I am seriously considering, but in...

1
+4
Taking job at M&M as a broker when in talks with alumni and applying at other places (CBRE, JLL, CW) or to wait it out

abc1324

I have an interview with M&M coming up this week. I know people will say "you haven't gotten it yet", but let's just say what if. It's as a broker and from what I've found from this site it seems I'll most likely get an offer. My question is, should I decline this offer if I'm talking to a few alumn...

12
+3
Anybody interested in being a CMBS originator in Southern California?

kobebryant604

Hi WSO, Does anybody here know an experienced commercial real estate professional who would be interested in working exclusively as a CMBS originator in Southern California? I am a CMBS production analyst for a Canadian Bank. Our balance sheet business is well established and our institutional cli...

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+1
CFA vs CAIA vs APC (finance specialism ) for real estate analyst?

samh1

I have the option to undertake either the CFA, CAIA or APC (finance specialism ). What qualification will be most beneficial for a real estate analyst?...

1
+2
HFF Financial Modeling Experience

RayIve

Hi all, new to WSO but wanted to open this question up to anyone who knows/works at HFF. I'm interviewing for a Debt Analyst position and a team analyst for an office/industrial team. Debt Analysts, from my understanding, don't necessarily need to have as much financial modeling experience as an ana...

9
+3
Lenders - How do you price spread/all-in coupon

capratetoolow

Lenders - I understand sizing of a loan usually depends on LTV, DY, DSCR (which takes into account of interest rate). How exactly do lenders price a loan? What I can't fully understand is the pricing consideration for spread/coupon. Are there any specific metrics/threshold lenders price to? Or i...

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+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...

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+1
Somera Road

RobertMoses

Does anyone have insights on culture, deal flow, or reputation of this team? Any input is appreciated....

4
+11
Trailer Parks & Un-Sexy Investments

willydale

Would love to hear some experiences/stories on investing anything considered un-sexy. Think tailer parks, billboards, Section 8, tax liens, etc. ...

55
+1
Real Estate Portfolio Management Questions

Ricky Sargulesh

for all these questions I am particularly interested in multifamily: 1) Could any RE PMs opine on their day to day work and what are the most important aspects of being a good PM? 2) Any textbooks or other reading material suggestions for learning more about RE PM? 3) Any suggestions of daily/we...

3
+1
REPE SS to corporate PE, is this possible?

macral

Hello everyone, I know this question has been asked before but I haven't found an answer to the exact same situation: 2 years experience in Deal Advisory in corporate (B4), now offered to move to a REPE Special Situations/Distressed top tier fund (think Apollo, Oaktree) as analyst of NPL/REOs portfo...

3
+4
Non-Target -> MSRE

Shkreli4Prez97

Hi all, I've been an avid reader of WSO for easily 2 or 3 years now. With that said, I haven't posted before as I can generally find whatever info I am seeking by looking at previously posted threads etc. I have a more specific question that I'd love some help with. I go to UMass and am coming up...

13
+1
How to find interest rate, "average life over _____ basis points"

DBisnolongerBB

Monkeys, Hoping someone could shed some light on this topic. When a quote is received in commercial lending with the terms below, could someone ELI5: Terms: 5 Year Term $15,000,000 Loan 30 Year Amortization (No IO) Rate: **175 bps over the Average Life** No Prepay The mechanics behind average lif...

2
+2
Morgan Stanley CMBS Originations

Rufio

Does anyone have experience with MS in the CMBS originations group? I'm interested in learning about the culture, deal flow, hours, comp (analyst/associate level), etc. I've looked through past posts but haven't seen anything too recent or detailed. Thanks in advance....

8
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Real Estate Masters Programs Recommendation (Georgetown vs NYU vs UC Berkeley)

jerome10

I have been accepted to Georgetown, NYU, and UC Berkeley's real estate masters program. I was wondering if someone can tell me those schools' pros and cons. I have total one year experience in architecture firm as a project coordinator and I would like to pursue my career in real estate development ...

10
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Just got let go

CRErainmaker

Hey WSO, I am an acquisitions associate at a small family office in NYC and my boss told me today that they need to let me go due to company's performance and cultural fit etc. I'm not too bothered by it as I somewhat expected this would happen as I didn't see myself working here long term and hate...

3
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Looking at an analyst role that might include writing whitepapers

abc1324

As the title suggests, a possible position I'm looking into might include writing white papers. Are there any white papers from major companies (CBRE, NGKF, JLL, C&W) that provide public copies of white papers that are online and I can read. I've looked at Wharton's site for real estate writing, but...

6
+1
Property Rentals in Edinburgh: How to get the best deals?

lettingumega

It does not matter from where you are managing your property rentals in Edinburgh. You are satisfied when you have good tenants in your apartments, who take care of them like their own. A good property management company ensures that you get responsible tenants and best price by renting your apartme...

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Real Estate Investment Analyst Interview - Intelligent Questions

Quid to Buck

Hi Everyone, I'm interviewing at a commercial real estate firm soon and was given the advice to ask questions about their capital partners (they work with a lot of pension funds). However, I can't think of any intelligent questions to ask. Any help you could offer would be fantastic. Thanks....

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