Debt Analyst Preparation
Hey everyone,
At one of the universities I go to, some of the major companies are having a CRE Finance Career Fair. Two big brokerages (CBRE and HFF) are going to be there. Both have Debt Analyst positions open (CBRE calls it Production Analyst if I'm not mistaken, HFF calls it Debt Analyst).
I have read a lot about these positions on this forum and @brosephstalin" had a lot of great information. What can I do to prepare for these positions? Are there RE Books specific to the debt side? I've read a lot of real estate books but its all on the principal side. I've taken RE Finance courses at the aforementioned university.
It also seems like the Analyst role starts out at around $50k base plus tips/ percentage of the debt broker's commission at the discretion of the debt broker? And the purpose of the role is to eventually become a debt broker or leave (and it seems like there are a lot of exit ops like REPE/ Acquisitions/ Development). Any advice would be appreciated!
Promote,
I have met a couple people in the CBRE production analyst program and have a buddy that interviewed with them. I haven't interviewed with them myself so I can't say what they will test you on. However I did hear from my friend that in our market...Tier 2 think: Dfw/Houston/Miami that the analyst start out at 60k before bonus. He also said it isn't uncommon at all for analyst to crack six figures. However I think in your first year that will be team dependent, and his observation was based on one of the bigger debt teams at CBRE.
I would be interested to see if anyone can add anything about HFF debt analyst. I have heard a little here and there about their investment sales analyst, but never about the debt team.
I have a couple more insights on the production analyst role at CBRE but that is more on the day to day side, and not on the interview side. If I can be of any help let me know.
@press107"
Thank you for the great info!! I’d like to hear more about the day to day side. Your knowledge is appreciated
No problem.
So from what I understood during my meeting with the production analyst is that they are mostly doing an underwriting of the properties. They have an in house software that does all of the relevant calculations, and they give it a once over to make sure nothing is out of wack ex 100k cable bill etc. They are inputting the rent rolls in to the software for the calculations to be done. Some of the analyst are actually traveling to the properties as well to inspect. Although I am unsure if my friend did this.
They work hand in hand with the fannie and freddie a ton. Not totally sure on hours. The person I talked to had a family and didn't mind being at the analyst level as it gave them more time with their family.
My personal opinion is that the producers on debt teams in the upcoming years will make a killing. I think that as real estate becomes more institutionalized and the lending requirements continue to become more strict , I think it will make it easier for the debt guys to source business. Just my personal opinion.
Thanks for the insight! Seems like an interesting role. My end goal is development.. but debt has always been an interest of mine. If you need help with RE stuff or want to trade models let me know. I built one specifically for residential acquisitions w/ ability to refinance.
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