Books for Institutional CRE Investing terminology
Hello, I’m a 19 year old Banking & Finance student at the University of the Incarnate Word. I’m very passionate about fulfilling a career in CRE to further build my own real estate investment firm. I’m still quite unsure of which RE firm path (Either REIT/REPE) but for the meanwhile I want to educate myself. I have an idea of what I want to do: I want to acquire and develop my own high-end commercial properties mainly composed of retail (high-end, upscale malls), high-end office spaces, high-end apartment/multifamily buildings.
Being realistic, I know I have to take everything step by step, and that in order for me to succeed in such plan I first have to land an analyst role and land internships during my junior and senior years of university. That being said, I want to learn everything I can when it comes to terminology and financial modeling. When it comes to terminology, what book(s) should I read? I want to learn terms such as IRR, cap rate, etc and how to calculate them. Where can I learn all of that?
Love to hear about your strong endeavors in the CRE world. That being said, you're absolutely correct in starting with the basics and building a strong foundation (resume/general knowledge) to leverage when beginning your career and seeking an internship.
I would recomment starting with basic modeling courses online. There are plenty to choose from, such as REFM, ACRE, WSP, and Breaking into CRE.
I've also hear that the book Commercial Real Estate Investing for Dummies is solid, although it might be a bit outdated.
Honestly, this might be a hot take, but I think I've learned the most by using ChatGPT and read case studies online. ChatGPT is an incredibly powerful tool for those with curiosity.
Peter Linneman's book is the one and only blue bible..
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