Silver BananaTopicReplies
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Any forward thinking investment strategies that you've heard about?It seems like most of the real estate market has been priced to perfection leaving out arbitrage in most vanilla investment strategies. Anyone hear of new forward thinking strategies or at least different... ...
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Starwood Acquires LIHTC Portfolio Did anyone work on this transaction or have friends who did? Press release says they expect double digit coc yield. How is that possible on a cash flow constrained asset like a LIHTC portfolio? What did the debt or rent escalation assumptions look like, or how could you engineer something to hit dou...
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RE ModelingHey guys - looking to sharpen my RE modeling skills. I work for a developer and do some simple modeling/projections off of templates we have already used in the past. Mostly just to see if the development is going to make sense and then we edit from there to make our numbers work. Now I know there...
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Modern Bank NYC Does anyone know anything about this private bank in NYC? I believe they do smaller transactions in the 1-10mm range. Most of their guys seem to have com from pretty good backgrounds....
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Any info on Ladder capital?Does anyone have any info on Ladder Capital? culture/salary/reputation etc...
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NYC CRE Analyst PayCurious what others are getting paid as analysts 1-2 years out of school in New York City...be it capital markets (IS/Debt/Equity), Acquisitions, Development, Asset Management, Bal Sheet Lenders etc......
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Encore Enterprises (DFW)Anyone have any experience with Encore Enterprises in DFW? ...
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Future Atlanta DevelopersI'm reaching out to all of those on here who work in real estate in Atlanta, and are actively working on their own deals or are in the process of pursuing your own deals. Since I've been in the real estate field I've had a hard time finding other young like minded individuals who have the ambition t...
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Crow Holdings Capital Real Estate - Interview - Real EstateAlmost every question was behavioral. The interviewer was the head analyst and was just given the title so I do not think she has interviewed many other people before. Basic questions were asked such as "describe a time you worked on a team" "give me your strengths and weaknesses" "tell me about a t...
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Real Estate Acqusitions Career AdviceI've been working at Seniors Housing REIT for approximately 1.5 years and have started to look to transition into more of a real estate financing role. I've recently just had a interview in a private capital group of a private real fund. Seemed to go well, however, second round will be in approxim...
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KeyBank - Review - Debt Capital MarketsThere is low pressure from management, I typically work less than 40hrs per week, and I’m satisfied with the pay for what is expected of me. Not many opportunities for growth and advancement and management has been hiring outside employees rather than promoting existing ones...
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Breaking into commercial developmentHey guys, I have about 2 years exp. out of a top tier UG in the Arch/Eng/Construction industry (mech. eng), and am starting a MSRE at Georgetown next semester. Is it likely that the route I am taking to get a MS in Real Estate will help me break into an associate/asst. pm position at commercial dev...
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Broker Pay Fellow Brokers, how do you prefer to be paid. To an LLC and if so what benefits does that have over being paid on a salary plus bonus compensation plan. ...
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Intern duties...Job description vs realityHey guys, for those of you that interned, what were your daily tasks while on the job and did they line up with the job description? I'd like to hear from those working for principles and/or firms and those on the debt side too....
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Bank of America Merrill Lynch - Review - Structured Products FSRGreat culture and pay. Interns given ability to work autonomously if they prove ability. Lots of work to be done. Long hours. Culture was to work through lunch. Days start early. Not as structured formal training program...
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HFF Compensation vs JLLI have an analyst offer from both JLL and HFF. I was wondering which shop is better in terms of compensation at analyst level and future career growth? Which is more prestigious? More capital markets side....
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Research Associate at (CoStar, REIS, Axio). What's the exit ops looking like?Hey guys, Got an interview with one of the mentioned companies. Reviews ain't looking too good. I feel like the role will be like working at some sort of call centre since alot of the work is compiling data from brokers. I'm trying to be positive about this since I am still trying to break into ...
25
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Other than BBs, what are the best real estate Investment Banking groupsI'm senior at a semi target school currently working as an intern for a small REPE. This could lead to a full time offer but they are a really small fund and I think I would like to take a shot at REIB. Other than BBs, I've heard that JLL, CBRE, and Eastdil are a great places for REIB, **but I als...
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Levered to Unlevered Promote Structure ConversionI am trying to think about the best way to structure a JV where one party would want to remain unlevered and the other would still be sufficiently incentivized to not seek a partner that also wanted leverage. My initial thought was that you would calculate the returns under market leverage levels fo...
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Need to work with official environmentThis is Azhar Javed Jafri, I am working as a interior designer and having a lot of work for me but I am in trouble because of my working place. I want a [small share office in Karachi](http://www.sharedesk.pk) for my work because if I try to work at home its too much disturbance and I have also trie...
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Retail REITs : Bounce Back or Falling Sector. (KIMCO vs NNN vs Brixmor vs Macerich)What are your opinions on these four companies and how do you think retail will play out in the future with all the innovation happening in this sector. In particular, which of these four fast growing REITs do you see making rises in the future in terms of transactions. ...
1
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Vanbarton Group - Interview - Real EstateThere were no really difficult questions. We had a discussion about my background and I why I was interested in the position. He was trying to get at why I wanted an asset management position, vs. an acquisitions position. I got the sense that people he had hired into asset management in the past...
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Senior Housing QuestionHi all. Was wondering if people could give like.. an intro to senior housing as it's one of the only products i have no experience in underwriting. For example, it'd be great if you can talk about the different types (assisted living vs. skilled nursing vs. etc...) and what they mean and which is pr...
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Career advice needed: Acquisitions vs Asset ManagementHi RE Forum, need some advice from seasoned RE professionals. I'm currently in my second year as an analyst for a small REPE firm. It's a boutique shop and most of our capital comes from high net worth individuals. We focus on value-add, distressed office and retail assets across the US. Over the...
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LIHTC DevelopmentTo do a LIHTC multifamily deal as a developer/general partner, what kind of track record/experience is necessary? Is it possible to get tax credits if you're a GP doing their first project?...
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Eastdil Secured - Review - GeneralistGreat company to work for. A++ type people who are extremely extroverted and good at what they do. Compensation is better than other IS shops.. Long, grueling hours. In commercial real estate, hours are typically a lot less than Eastdil. A lot is expected of you here and they are always understaffed...
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Eastdil Secured - Review - Real Estategood comp, good company reputation, exposure to lots of deal flow and easy to make relationships in the industry. long hours, minimal appreciation for your work, you are expected to drop all personal commitments for the deal ...
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Argus AEAlright is anyone actually using Argus AE? Argus keeps telling us that everyone is moving over but I haven't found anybody that actually does. ...
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What are some things that most students forget in their real estate reports?Currently doing a case competition utilizing argus, have to analyze an asset within different market scenarios. We're writing up a report, of course we'll have the basics such as market research, cap rate, noi, IRR, etc. in our report. What are some figures (whether it be about the market OR the a...
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Anybody here familiar with ReadyCap?Any insights on company, culture, salaries for analysts? Particularly in their bridge/mezz group. Really appreciate any help!...
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NYC Condo ConversionHi Gang, I am in the nyc multifamily space but have never done a condo or co-op conversion. I have found a motivated seller, but the only part of the deal is that 2 out of 5 floor through apartments in BK are rent controlled, so I can't buy because it would not cash flow even if I spend 100k's in ...
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Real Estate Private Placement SalariesI've been interning for a firm that does RE private debt and equity placement (construction, bridge, mezz, JV). I'm trying to get an idea for what one can expect to earn in compensation working at a shop like this. I'd say we're in the lower middle-market. I've researched this topic but there are ...
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Exquance SoftwareAnyone tried out Exquance Software? Seems to be a pretty good alternative to Argus with a good looking interface....
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Real Estate FundamentalsWhen discussing the real estate fundamentals of a deal or of a region as a whole, what exactly is this referring to?...
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MBA to leave RE?Has anyone had any success using an MBA to transition into another industry outside of real estate? I realize that asking in a real estate forum is going to limit my sample, but I figured it was still the best place. I went into real estate investment at a smaller shop ($300mm) because I liked the ...
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Do I work in REPE? I am in charge of doing due diligence on all acquisitions/refinances for a company that buys and sells strip malls on the west coast. We are the GP on all of our deals and our LPs consist of HNWI and sometime partner with institutional investors on larger deals. Is this considered REPE? ...
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KIMCO Asset Management Internship Exit OppsHey Everyone, I've managed to get a few offers for internships this summer and KIMCO is on the top of my list to accept. As a junior at a fairly well known undergraduate business school, I wanted to know what my exit opps could be in RE after doing an AM internship with KIMCO. If I love it, I'll...
5
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Next Step? From Small-Medium sized REPE GP to top firmcurrently working as an investment analyst (less than a year but have 3 other finance internships ib and vc) at a smaller GP repe firm and would like to eventually end up at a large firm (top 20) and was wondering what advanced degrees/networking/other things I could do to get me to that next step. ...
5
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Skills before starting full-timeHey fellow monkeys, recently I accepted an asset management role and will be starting this summer. I really want to hit the ground running and perform extremely well. Is there any preparation that I can do in advance to ensure that I excel? We will have Argus/Excel training once I join and I know th...
4
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TI versus Free RentIn what situation would a company offer a tenant either free rent (3 months for example) or TIs? What are the benefits of issuing TI as opposed to free rent for a certain time period? If you would like to attract a retail tenant, how would you structure the deal?...
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Argus PricingSo since this is my shiny new throwaway... I just got a quote from Argus to start using AE in our shop. Has anyone else priced this out before? Never had to care before as it was always just there care of my employer, but holy shit. Something like $20k per user, plus 20% for the annual service pla...
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Career swap advice? Not sure where to go next.Hey monkeys, lurker here that finally made a post. So, background: I've been practicing commercial appraisal for almost 8ish years now. Started at a small shop and then made my own firm after getting State-Cert Gen licensed. I'm getting bored of it; I'm unhappy with the instability in clients and $...
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Modeling ground lease payments into a pro formaI'm currently modeling a development scenario where the developer would either sign a ground lease with the landlord or acquire the land for a specified price. While the legal and market value-related aspects require some further thought, I came up with an issue regarding how to model in the potenti...
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Real Estate PE ModelCan anyone share a real estate pe model, or a good spot to find one? Thanks...
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LP Equity for "Non Institutional" Multifamily Assets?Assuming equity check sizes starting at $10MM up to $40MM. In speaking with most of the name brand equity groups out there doing multifamily (i.e. Blackstone, Ares, Carlyle, JP Morgan, Westbrook, Life Insurance Companies, etc), most of these groups are not interested in doing older vintage, non-9...
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PCCP BackgroundAnyone ever do a deal with these guys? Specifically their LA office. Trying to get a feel for their reputation. Seems like the different office (NYC, SF, LA) could be doing very different work and would like some clarification on that. ...
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KBS Realty AdvisorsDoes anyone have any thoughts about [KBS Realty Advisors](https://kbs.com/)? It would be great to hear if anyone has insight into the following: - Reputation - Opportunities at the firm (growth opportunities/comp plan/work-life balance/the team) - Any instance where they came across them in a d...
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∎ CBRE RESEARCH BRIEF ∎ Multifamily Investment Continues to Shift Towards Tier II & Tier III MarketsCBRE RESEARCH BRIEF Multifamily Investment Continues to Shift Towards Tier II & Tier III Markets ...
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AIG Excel Modeling Exam HelpAnyone have any idea what the AIG modeling exam looks like? I would share my experience in passing Deutsche Bank's Excel test. ...
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Need to do a Continuing Education class - what are some good ones?My firm wants me to go to a continuing education class/seminar this year and I'm curious what all options there are. A guy I work with is doing Training the Street for his. Background: I work at a REIT, have an MBA, and am a level 2 CFA candidate. I love working in real estate, but I may try make a ...
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Working for my families CRE business, how can I switch to REPE/Dev?I'm currently working for my families business, but that's just what it is: a family business. I'm interested in making a switch to a real firm and get into the REPE or Dev side (to be honest, anything but property management at this point). I don't have a college degree with a relevant background t...
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What software/apps do you use?The CRM thread is what inspired this question along with my personal interest in finding a central system that has the ability to integrate all facets of an investment/development shop from various systems. So what apps or software do you guys in the industry use? Most real estate firms are pretty a...
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How can I learn about the inudstry as a complete beginner? (Possibly stupid question)Apologies in advance if this is a dumb question. So, I'm currently a law student and my goal is to enter a field of law that doesn't pay well, and on top of that a job that pays even worse (it's a dumb passion thing. Don't ask.) Things being as they will be, I'm interested in ways of supplementing ...
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Salary in Senior Acquisitions roleJust curious as to what senior positions within acquisitions pay. I am still in college but want to understand what the upside is as someone rises through the ranks. Also when do people start contributing their own equity for deals, is it at the VP level or do you have to be a MD/Principal? Really w...
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REIT IPO TaxationI saw in the news today that a property is going public as a single asset REIT. Does anyone here know the taxation implications of going public? For example, let's say there is an asset worth $100MM and the basis is $70MM. Let's assume there is debt on it of $50MM. Let's assume I want to issue ...
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Berkshire Group - Multifamily InvestmentsI was recently scheduled for a 1st round/HR screening interview for an analyst position with this shop. I have not been able to find out much about the firm (review wise) outside of what is on their website. Does anyone have any experience working for/with them? Thoughts on culture, deal flow, etc?...
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Starting in Real Estate Development Been reading threads on here for a while and am recently in a posistion where I would appreciate some guidance. Little background, I am in a 5 year MBA program and wrapping up this spring while I work for a value add developer in a northeast market. It is a decent size shop, more than 60 people and ...
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AIG commercial real estateIs anyone familiar with AIG based in NYC, how does their group run what types of deals, good rep, exit opps, the usual. Any interview questions, modeling tests?...
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2018 Preqin Global Real Estate ReportDoes anybody on here have access to the 2018 Preqin Global Real Estate Report and are willing to share? Would really appreciate it. Silver bananas will be awarded. https://www.preqin.com/item/2018-preqin-global-real-estate-report/3/20146...
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Is this really what an analyst does?I am a bit beyond half a year into my analyst job (asset management and acquisitions analyst for a small shop). The first 3 or 4 months, I did a good amount of modeling and some administrative stuff. The last 3 or 4 months have been almost exclusively data entry for year end and 2018 budgeting. It h...
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REIT or Brokerage?I am a junior in college and currently deciding between two internship offers. One is at a REIT with mkt cap ~10b or a commercial broker (think C&W, CBRE JLL) in investment sales. I am thinking I want to do acquisitions in the future after college, but still not 100 percent sure. Any takes?...
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Do any of you guys use REThink?Curious if any of you guys use REThink, which as far as I can tell is just Salesforce adjusted for RE users. I'm a leasing broker and my firm just adopted it, and I'm hoping to cut down my learning curve and figure out how this can actually help me. As far as actually tracking leasing activity g...
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GMAT/GRE scores for RE masters programs?Does anyone know what the GMAT/GRE numbers look like for masters programs? Including but not limited to Columbia MRED, Harvard MDes, USC MRED, MIT MRED, Cornell MRED, etc. Appreciate any insights here ...
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Warehouse LendingHave an interview coming up which is where this stems from. I understand the concept of Warehouse Lending but have a few questions. Who are your customers? would a BB bank really need a Warehouse Lender? It seems like it would only be one off guys and smaller companies. Are you considered FO? it f...
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Deciding between 3 offersI have been recruiting for months and am finally deciding between three opportunities. My goal is to be in REPE in the next 2-3 years doing acquisitions with a massive firm (Blackstone, Lonestar, etc) and to create a REPE firm long-term. I aim to become great at underwriting a range of different pro...
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Real Estate Agent Churmo is an Artifical Intelligence based platform to connect the Licensed Real Estate Agents and other Real Estate related professionals with potential Buyers and Sellers. The Inbuilt Artificial Intelligence not only helps to suggest the right Licensed Real Estate Agents to the Clients but also hel...
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Memorandum for Refinance of Commercial Property to BanksHi All, Does anyone have a template to use for a memorandum to banks for a refinance of a mixed use commercial property? I've done the finance modelling etc but struggling to find a template I like to use so I can send off to the banks Any help highly appreciated Cheers David...
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Property Group*****************************************************************************************************...
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AUM real estate definitionHi guys, I have a brief question regarding the term Assets Under Management (AUM). In real estate does assets under management just mean the amount of investor capital that a firm has? Or does it include the value of gross assets, meaning real estate holdings at the time? Just curious because I am t...
6
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Career Pivot from Munis to REFirst of all - this is my first post here and I actually credit this site to my initial recruiting out of college into the public finance group at a BB. I’ll quickly fire this off: - Tier 2 city with no intention to move - largely burned out due to lack of interest in the sector and the grind tha...
5
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Columbus, OH - Multifamily MarketWho are the big Investment Sales brokers specializing in Multifamily in Columbus, OH? Any help is much appreciated....
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Jones Lang LaSalle - Review - BrokerageExposure to transactions Exposure to clients Work-life balance Benefits package Strong market share in industry vertical . Sub-par performance among middle management Less opportunistic than many competitors Minimal opportunities for growth once you reach a certain level Bureaucratic administrative ...
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Help w/ RE CareerHello everyone, I lurk this site from time to time and would like to ask you all for advice. I work for a RE investment company on the west coast (straight outta UG). The firm has solid leadership in terms of experience and is well-capitalized; however, I feel stuck. My job for the past 2 years has...
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Is it worth going in debt for a masters in real estate program?I graduated in August 2015 and am still looking for a job in real estate. I really started aggressively looking (i.e. talking to multiple people every day, sending out emails left and right) at the beginning of January. Prior to that I was taking some RE courses and teaching myself ARGUS while app...
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Justify Your BonusThere are lots of threads about comp/bonus numbers but I want to ask a slightly different question: Why do you deserve your year end bonus? It would be helpful to know specific role/type of real estate and % of comp but not absolutely necessary. I’d start but currently struggling to answer tha...
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Interview for Capital Markets internship. What to know?I have an interview with JLL/CBRE/C&W for a internship with their capital markets group. Does anyone know of what topics may come up in the interview,or what I should brush up on? Also a very low cut beard is this a yes or no? Thanks guys...
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ARGUS Enterprise TrainingWhat do you all think the best way is for someone with very limited experience in DCF to get ARGUS Enterprise Certified? Here's a link to the official training offerings of Altus Software, the creator of ARGUS, [http://customer.argussoftware.com/](http://customer.argussoftware.com/). Is it possibl...
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Sumner Intern opportunities I am a sophomore at a non target school who is pursuing and Economics degree. My main goal is to eventually invest personally in multifamily but want to gain experience through an internship and job for about 5 years after college. I want this job to revolve around CRE investing. I don’t really kn...
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Where will San Francisco be in the next couple years?In thinking about the discussion "San Francisco Sucks" that was posted back in December, there was nothing or very few points that I had disagreement on. As someone who has grown up in the Bay Area and seen it change so much due to the growth of many tech companies setting up shop here, how will San...
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Jones Lang LaSalle - Review - BrokerageThe internship provided a good look at life as a real estate broker and provided the opportunity to work with different groups in the brokerage. . The internship had too much hand holding and I didn't really gain anything from it other than a line on my resume. ...
0
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Advanced Degree (MBA / Masters) Needed in Real Estate Ownership vs Capital Raising?Hi, I currently work in B-Piece Buying and Asset Management at a regional asset manager. I came from a real estate M&A Advisory role from a boutique I-Bank in New York from undergrad so I have about 3 years of total working experience. My goal is to move over to Acquisitions / Real Estate PE Capital...
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Condo Conversion ModelIf anyone can share a condo conversion model it would be greatly appreciated. Thanks in advance. Currently a mixed-use with a retail portion and would like to convert completely to residential condos....
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Anybody here work for Berkadia or Northmarq?Would really love to connect if you work or know somebody very well at these places, seriously appreciate any help, thank you so much!...
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Law School for Real Estate?Anyone have thoughts as to whether law school is a good move, considering I am still at the early stage of my RE career? The company is willing to float the bill for it (so long as I meet certain grade thresholds) and I'm thinking this could be a chance to gain some knowledge that will be helpful...
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REOC InvestmentsOver the past several months I have begun to evaluate investments into Real Estate Operating Companies. We look to invest significant capital into established operating companies in addition to investing into real estate assets. In the past I have solely worked on asset level and fund level real est...
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Sourcing My First Deal (Personal Investment)Hello WSO, I have some questions in regards to getting started on my first real estate investment. Basically, my goal would be to purchase a property and syndicate the capital stack so that I can leverage investor capital (and debt) to achieve the greatest return on my investment. I have some of my...
8
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Landvision Software- Will pay good money to get access to this softwareI am in search of someone on this forum who has land vision access and would allow me to get on their account, we could work out a payment arrangement. Please if any of you who see this have the software, pm me and I will make it worth your while. ...
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What Title/Position Corresponds w/ Deal SourcingIn development, at what point is it customary for your firm to expect you to start sourcing deals and contributing to deal flow? I can’t imagine MD’s rely on an analyst/senior analyst to do this...is it more associate and up, or VP/Director and up? If you were expected to source deals for your...
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