How to prep RE Debt Fund Interview

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.