Silver BananaTopicReplies
+2
American Realty Advisors ("ARA")

vintagegmt

Does anyone have insights into the culture at ARA? I've heard distinctly differing opinions, some saying the culture is terrible and a sweatshop while others say its a great shop. Thought some of you may be able to provide some color. ...

14
+1
Cornell Online CRE Certificate for No Exp, Non-Business UG?

Khod Man

I'm trying to break into CRE acquisitions/development with 2 years of non-related work experience and a bachelor of arts (economics) for my UG. I've been applying to jr fin and fin analyst positions, and I've been going through the interview process for a Jr. Financial Analyst position in acquisitio...

4
+1
What is the importance of real estate accountant in real estate accounting?

outsourcinghubindia1

The role of real estate accountant is y important in real estate accounting, which helps to entrepreneur in their business. ...

1
+1
REIT Analyst Modeling Assessment

nontarget chimp

I have an upcoming assessment for a REIT analyst role specializing in retail. A quick description of the role include: Assembling / Maintaining property pro-forma models; Analyze potential leases with CF projections and sensitivity analyses Analyze potential lease deals for value HR mentioned an ...

3
+1
Duff and Phelps Real Estate Advisory Group

ab1450

Could anyone give me some info about the Duff and Phelps REAG? Looked online for some news but couldn't come across anything. Is it mostly steeped in valuation? Also, has anyone applied recently for the Analyst position and heard back? Thanks in advance....

1
+3
Earnings Analysis - Multifamily Sales Broker Vs. Office Leasing Broker

CRESouth

WSO, I recently got into a friendly debate with a Multifamily broker in my office (we're a CBRE/JLL/CushWake in a fast growing major southeastern city) on what kind of earnings over the course of an entire career be made by a top producing multifamily investment sales broker vs. being a top produci...

6
+6
Real Estate Financial Modeling for beginners

GuyLafleur

Hey guys, I’m trying to build a solid foundation for RE modeling in the hopes of eventually applying to a REIT or REPE fund down the road. Any suggestions on how to build up my financial modeling skills? Assume I’m a complete beginner. At the moment, I’ve been advised to look at Adventures i...

14
+2
Top debt brokers-rankings?

Brody92

Hi guys, does anybody know if any organization like the MBA posts a rankings/database of the top debt brokers in the country? NREI posts the top sales brokers, but I am interested particularly about debt brokers. Any advice would be much appreciated, thank you!...

4
+1
Commercial Real Estate Underwriter to acquisitions?

innovativeguy11

Hello, First job out of college I've been underwriting for a few months for a MM bank, mainly underwriting REIT, institutional and senior housing deals. I also have internship experience in KeyBank's real estate capital group. Looking to get into acquisitions and was wondering if the underwriting s...

1
+2
Looking to transition from corporate real estate. Help?

emceedrive

Hey all, I have a bit of a winding career path that started in BB operations which I was looking to get out of before I even started. I ended up working for a developer basically by accident. For some incredible reason, they hadn't ran an operating budget in 5 years, so my job was to get that proc...

6
+24
The future of LA

ga901

Curious what SoCal guys think the future holds for LA. The change here is staggering. Tech companies are flooding in. Snapchat, Amazon, Google and others all have major presence in Venice, playa vista, and South Bay. Not to mention SpaceX and Tesla. Downtown has a new skyscraper going up every wa...

50
+1
Community Development Banking Salary

monkeyd0do

Trying to get a gauge on the correct salary range for an experienced (~4 year) associate within the community develop banking realm under a BB. The role will be around evaluating affordable housing equity investments including the pricing/structuring of it. Should I use commercial banking and CRE ro...

1
+1
Opinion on current multifamily market in DC?

thhddd

Tempted to buy a multifamily unit (under $7M) in DC at sub-5% cap rate myself, and I wonder what’s everyone’s opinion on the current market? Personally I always tell people the market is better than ever, but i am really not sure anymore when it comes to my own money...

1
+2
Anyone Familiar with Freddie Mac Multifamily Analyst Program?

ab1450

Currently interviewing for the Freddie Mac Multifamily Analyst Program. Would this be a good position coming out of undergrad, and would I have good exit opps? Looks like I'll be interviewing with the Underwriting Division. Thanks in advance! ...

8
+24
Value add - multifamily ... RENTS, TAXES, WTF??

yoruba123

I am seeing a ton of shit OMs from brokers labeling everything value-add for multifamily. This is nothing new but who is the potential buyer pool for these shit class B & C assets? To my main question, is it realistic to expect rents can be doubled at a property in 18 to 124 months at a 50 to 150 ...

64
+4
What's your $0.02 of Bigger Pockets RE forum?

YukonGold

Anyone familiar with the RE forum Bigger Pockets? Seems to be potentially legitimate, but haven't sourced any deals from it yet. ...

12
+8
Would I get hired after graduation?

scshtx

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...

43
+1
CRE Mortgage Brokerage - Breakup fees

Merchant_of_Debt

Any of you guys here writing in break up fees into your engagement letters? Alternatively, have any of you sponsors seen these? Under what circumstances do we think it warrants a break-up fee being paid? Furthermore, how the language being worded? Please let me know WSO - thanks! ...

1
+1
Note on Note Financing

dipndunk

Anyone here familiar with note-on-note financing in the CRE space? I'm hearing a lot about debt funds getting this type of loan from traditional commercial banks. Seemingly.. banks can't compete with the debt funds, so now they are just joining forces. Would love to get an overview of the mechanics...

1
+2
GMAX Contract ins and outs

Parzival7

Can anyone shed more light on g-max contract for office project construction? The project is roughly $10MM to $12MM. What are some of the things to watch out for? Should there be multiple GC's considered? Please provide input on following (I like to understand what the market is): - General Condi...

1
+4
What should go on my resume and cover letter in my circumstance for internship applications (RE specific)

scshtx

I'm a non-finance major (BBA in computer information systems) senior with no RE experience, and only one internship last summer at a non-RE related position (basically doing web site design, some excel work at an online marketing firm). I have never applied to anything this far ahead in time, so I...

18
+5
Brokerage vs REPE Asset Management

SteelGun

Hello All, I'm currently a senior in college at a North-Eastern semi-target school deciding on two offers for my full time job. My long-term goals would be to work in acquisitions at a top real estate private equity fund / hedge fund but was unfortunately not able to break in out of college. I'm...

24
+5
Few Networking Questions

scshtx

(mods pls don't move this to job help, can be specific to industry.) Got some really good networking advice from some of yall this Summer, really appreciate that. Got a few more that have been on my mind as I've been making my list for some new people to reach out to this month. 1. What "level"...

10
+1
Compensation Structure for New Acquisitions/Development Group

krunyan11

Looking for help structuring comp for a newly formed real estate group (about 3-4 people). I currently have about 7 years of experience in acquisitions and finance. Current title is Acquisitions and Development Associate. The role I would be stepping into would be more of a Director level. Respo...

2
+5
At what point does CRE pay become decent compared to workload?

JackteeMas

I'm working for a fairly large firm in Canada, in CRE. I'm not exactly a veteran admittedly, but I'm not brand new either. I'm wondering, at what point does salaries actually become comparatively decent to workload? Don't get me wrong, I'm not paid peanuts, but the workload is kind of huge. Like, at...

20
+1
REPE Fund Portfolio Modeling

RE Dude

Does anybody have a decent fund management model template or recommendation for consultant-type firm? Anybody try out REFM's model? I'm decent at excel, but the modeling required is a little above my skill level right now. Here's complexity I'm managing. I'm modeling realized assets, unrea...

2
+4
Yield-On-Cost (development yield)

Elad-Jacoby

Hi, I've seen discussions in this forum regarding yield-on-cost (development yield), and saw the proper calculation should be: NOI (stabilized year) / Construction cost What bothers me is in this type of calculation, that we don't take into account the number of years in which the property will co...

19
+2
I listened to your advice - now I’m applying!

REply

Thank you WSO for your wonderful feedback so far. I want to prove how appreciative I am by putting action behind your words. I’m now applying to CBRE for a sales/brokerage internship (slot opened yesterday) in order to learn some hard skills there (hoping they’ll use me as an analyst in some fo...

5
+4
Mid career architect advice

Shell architect

Looking for a bit of career advice. I've been lurking off and on for a long time and thought that being active here would be a good start. I'm a 35 year old Architect with a wife and 2 small kids who is basically wants to make some "real" money vs the 75k I'm getting in a traditional arch. firm no...

10
+5
CRE Broker to Development Path

abc1324

I’m interested in working in development and eventually working for a developer to learn and start out on my own after. I’m currently a senior in college and have been contemplating different paths. Right now I’m looking for positions in property management, construction, and commercial broker...

23
+1
Chronological Order of Resume

JW199619

Currently a senior at a top 15 state school set to graduate in December. I'm currently applying for jobs and have sent out my resume but gotten no replies. I've had four RE related internships throughout college. In chronological order, my first internship was at a local tenant rep firm, second as a...

2
+2
Job Opportunity - Structured CRE

cmbsdude

My current firm is looking to hire an associate, so posting it here first as a small token of appreciation to the WSO community. Generally speaking, in addition to passing the obvious excel and non-idiot tests, we're looking for someone with 1-2 years of CRE experience, preferably with acquisitions,...

2
+1
RE Debt | Workouts/Taking Back Properties

hard assets

Has anyone ever worked in a workout group or been in a position where they worked at a fund that actually took back a property? I'm curious to hear what that process looks like. When taking back properties, do the borrowers just hand you the keys and say "good luck" or are they responsible for p...

1
+2
Excel help - CRE

yoruba123

I have a list of 10 multifamily properties including the subject asset in column A (property 1, property 2, property 3, subject, property 4, ..... property 10) and rents in column B in descending order. I want to use the "=LARGE(B$1:B$10,1)" function in a different table but also want to exclude th...

3
+40
The market is turning rapidly...

PacNumber

In the last 60 days I've seen so many deals fall out. Not just mine but other brokers across several asset classes. Buyers are hyper critical of everything. Sellers still want crazy money...Apartment investors selling at 4 caps and trying to buy retail at a 6. They see the end in sight of the ...

87
0
Thoughts on Aviva Investors Real Estate Division (UK/EMEA)

CunningFox

Primates, For anyone with knowledge of the European RE Investment sphere, what is the reputation of Aviva RE within the industry? Any knowledge of exit opps and compensation etc for graduates working on a combination of acquisitions, Asset Management and fund management? (American monkeys might be...

2
+1
CIT Bank - CRE Underwriting Associate

weaksaus

Hello WSO, I've been working in CRE for about two years now, as an underwriter of Owner Occupied CRE for a smaller "regional" bank as I call it. We do well in the space, but are a fairly small group. I get a huge amount of deal flow and have been the lead analyst on over $1bn in applications in the...

3
+4
development to acquisitions or REIB?

Choicef

I have lurked for about a year but never posted so bear with me. My background: I recently graduated UG with a great GPA from a pretty good state school. I interned for ~8 months at a very reputable niche development group. Ideally, I would love a role in acquisitions at an owner/operator or for ...

19
+1
Raising Capital/Small Fund behind family & friends

futureREmogul

What type of investors has been the best to deal with? (Beyond your friends and family) I have found success with dealing with doctors but what other professions have you guys found success in?...

1
+6
Graduating in 2 years, what path to take?

REply

I’m graduating in two years and currently work in residential real estate. I want to join commercial real estate once I graduate and eventually end up managing funds for a syndication or REIT. I have a lot of super newbie questions so please bear with me. First, I just transferred to a school (UC...

26
+2
Co working spaces as new asset class

128

Dear all, In a recent REPE interview I got asked about Co Working Spaces as emerging asset class. I was asked about specific yield and risks associated with the asset class. I reckon that this is probably the highest yielding and riskiest asset class in the market right now? Any input is much app...

5
+1
LP Interest Acquisitions

Analyst10242017

Hey WSO, I was recently underwriting a GP interest acquisition and wanted to know if anyone could provide guidance on how to search for **LP** interest acquisitions, and how they would work. Is there any database I could search? One idea I had was to look at tax credit syndicated projects from 200...

3
+1
Anybody have access to Bloomberg?- Can you find a credit rating of a company without access to bloomberg?

Brody92

I am trying to find the credit rating for safeway/albertsons. Any help is much appreciated, thank you!...

4
+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?...

6
+2
Acquisition Fee (bonus on closed deals)

egold70

Curious if anyone on the acq side has a bonus structure that pays an acq fee % on deals closed? And if so, how many basis points are you getting, and what is you typical deal size in dollars? Thanks...

20
+4
Luxury Single Family Residential Development

Stoo

Does anybody here have experience with single family development of luxury homes? I am not necessarily talking about large scale developments, more so want to learn about people who buy a single lot or tear down and build a brand new luxury house on top of it. Asked differently, are there any good ...

17
+1
RE IBD Organisational Structure

dgclarke77

Can anyone advise on RE IB structure at Goldmans? Is it Analyst/Associate, VP, XD, MD/Partner and do they operate a Staffer role to allocate workflow? Any help much appreciated!...

1
+1
Real Estate IB at a BB

chirmurri

Hi everyone, Doing an off-cycle at a BB in the RE IBD team in EMEA. Any tips on what I should know before I start? Understand valuations are a little different and terms like FFO/AFFO/Cap Rates will be used a lot. Also read how we should use the 12 month forward stabilized NOI for our calculations...

1
+10
Housing Prices Rise at a Cost: Fourth Straight Monthly Decline in Home Sales

YungBull

CNBC released [an article](https://www.cnbc.com/2018/08/22/us-existing-home-sales-fall-for-fourth-straight-month.html) describing the current state of the housing market: * Rising building materials costs, as well as shortages of land and labor, have left builders unable to bridge the inventory g...

30
+3
Off-Market Northern CA Land Deal

bigplay

Hi WSO, I have off-market commercial land available in Northern California. This deal could work for a land bank buyer that can close on the property by the end of this year or for a developer that wants to entitle and master plan the site. Price range $50-100MM. The Seller may need to 1031. Please...

16
+1
Fannie/Freddie college associate program

thhddd

Fannie and Freddie both started college associate hiring this week, apply online Last round Freddie hired ~30 analysts for multifamily and many many more for single family and Capital market...

2
+1
Real Estate London

chirmurri

Any thoughts on the likes of CS/Barclays for RE in London? Work that they do, reputation, culture etc....

1
+3
applying to be a broker

earthwalker7

hi all, I've always been on the buy side, so I have no idea about becoming a broker. My wife would like to become a real estate salesperson and then later broker in CA. I've been really struggling going through all the materials on the CA Bureau of Real Estate pages trying to make sense of the appli...

5
+7
Post Grad Activities

MonopolyMoney

Hi all, I'm in need of some recommendations on ways to beef up my resume post undergrad. I've always been pretty heavy on the extra curriculars, from Elementary to College and now that I'm out I am lost. After a recent job interview, it became apparent to me that most of the stuff I talked about/ ...

20
+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...

8
+2
occupancy required for agency financing

swaggerisaliability

my firm is selling a multifamily property. any idea what occupancy is required for a prospective buyer to attain agency financing? getting conflicting information from brokers thanks in advance....

10
+2
Wells Fargo Seeking Two Commercial Mtg Associates - Job Opportunity

10xmult

Hey guys, Just went through the most recent issue of Commercial Mtg Alert and thought I'd share a job opportunity for any looking. See the exact words from the issue below: "Wells Fargo is seeking two commercial mortgage associates to join its multifamily capital team. One opening, based in New Y...

3
+2
Basic Question- vacant space recoveries/rent

adrian-monk

Why do we include "vacant space rent" and "vacant space recoveries" when we calculate our income? Our underwriting model at work has those two line items before we get to vacancy loss and EGI. But if we are strictly looking at in place numbers, then if a space is vacant, why do we include hypothet...

5
+4
Incoming Acquisitions Analyst in the Northeast Multifamily value add space looking for tips/guidance/advice

darkhorse120

Long time lurker, finally secured an Acquisitions Analyst position at a lean shop investing in value add/core multifamily/apartments in the Northeast. I already purchased Peter Linneman's book which I have been reading through and the REFM Apartment/Multi-Family Building Acquisition Financial Model...

6
+4
Non-Finance Related Degree

scshtx

How much trouble will I have finding a finance related position in this industry with a BBA in computer information systems? The degree includes general business courses but nothing RE finance related. I'm seeing an adviser next week that might be able to make an exception and get me in the RE finan...

12
+1
Harrison Street Real Estate Capital

jkl123

Does anyone have any insight into this firm or experience interviewing at Harrison Street for acquisitions? Exit Ops?...

1
+2
West coast MSRE/MRED programs?

greekmyth

My friend is looking at MBA programs and MSRE programs on the west coast. He has no experience in finance or real estate. What programs are his best bet to transition into a real estate career even if it's to an analyst position? USC MRED requires too much real estate work experience. Pepperdin...

6
+1
SFR Lot Development/Master Planned Community Finance

InVinoVeritas

Does anyone have any good resources/tools for SFR lot development/master-planned community pro forma modeling? I am willing to trade for w/e you may be looking for. Also - can someone outline how to model a lot release provision into forward cashflow?...

3
+6
Pepperdine MSRE: Any Info

SponsorPromote

Hey everyone- I’m currently an undergrad student in a Southern California and also work full time in residential brokerage (as an agent, will get my broker’s license in a few months) full time. Long story short: I want to move into commercial development and am weighing out my options. Pepperd...

18
0
deleteddeleteddeleteddeleteddeleted

Ronclue

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2
+1
Real Capital Solutions

InVinoVeritas

Is anyone familiar with these guys? Family office/PE firm out of Denver. Any details would be helpful. https://realcapitalsolutions.com/...

1
+4
Is investing in Istanbul real Esate is good idea?

kuldeep.tamalok

As we all know istanbul is the one of the most beautiful cities in the world and fav international destination for many to travel, or business or vacation. I am thinking to invest money in Istanbul Real Estate, so if anyone can give some insights views on this or have any experience of investing in ...

10
+1
Analyst follow up interview (debt/equity placement)

PHLrealestate

Can anyone provide any insight/advice on a follow up interview with an office head at a national debt/equity placement shop in a primary market? I have had several phone conversations and an in-person interview with 5 or 6 producers on the team. My next meeting is with the office head. Also any ins...

6
+5
Life as a CRE Broker

AspiringREInvestmentAnalyst

Hi All, I was initially looking into becoming a RE Analyst but haven't been able to shake the want to become a CRE broker since learning more about the industry. Would current brokers be willing to share their current RE type, how many deals they close on average a year, and experience building the...

15
+3
Which is your preferred property type?

chadwick411

Just like the title states..... What is your preferred property type that you enjoy working on. Additionally, why is it your preferred choice? Curious to see what you guys have to say, specifically those that have been in the CRE industry for a bit....

7
+1
GSE/DUS Lending Exit Ops

Rice and Fires

For those who worked in the GSE/DUS lending arena, what are some exit opportunities to look at pursuing? I've been on the production/underwriting side for awhile now. I like it but now I am wondering if it is for me in the long term. I'm willing to slow play it out, but not sure what exit opportuni...

4
+2
KKR - Associate Position in New York - Job Listing

10xmult

Thought I would share this open position to those of you on the east coast currently looking. I saw this in a recent issue of the commercial mortgage alert. The blurb said specifically, "KKR is looking for an associate to join its real estate credit group in New York and assist with underwriting br...

1

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