How to prep RE Debt Fund Interview
I have an interview coming up for a RE Debt fund. Would love insight on how to prep for technicals and some sample questions?
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Understand all the debt metrics from a perspective of "will we get our money back"....is this an appropriate debt yield/DSCR, what is the margin of safety with which a sponsor is uw a property, how far could we push these assumptions to the downside and still get our money back, whats our yield on first dollar of risk.
If it's a private debt fund they're probably doing more than vanilla senior mortgages so familiarize yourself with all various levels of the capital stack and benefits of each.
Probably going to want to ask if you get to later rounds about the fund's fund level leverage, how is there portfolio performing given the current distress (not so overtly obviously) just to make sure you're not walking into a shit show.
Have a story to why you find the debt side interesting - rapid deal flow, unique/creative financial structuring, generalist position, etc... Whatever your reason may be.
awesome thank you so much. do you recommend any resources online or review guides to go over this info? also would love insight on the behaviorally of why debt?
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