How to Prepare for Your First Day In RE AM
Hi guys,
I'll keep it short. I recently accepted a summer offer for a real estate focused family office. To clarify, they don't invest in REITs, developments, or anything else aside from real property.
With that being said, is there anything you can recommend I do to prepare for my first day? My role is split between acquisitions and asset management. I know they most likely expect me to know very little (or at least expect to have to teach my a ton) but I want to make a good impression early on. I already have my Argus certification, and plan on touching up on my Excel modelling skills. Is there something else you think I should work on?
Mr. Sterling Archer, way too quiet in here. What about these resources:
I hope those threads give you a bit more insight.
Here's what I did, which always worked pretty well.
1) Bring a notebook everywhere and take notes.
2) Learn about their current portfolio and know location, unit mix, property class, submarket, comps etc. This can be tedious, but also help you understand their investment appetite.
3) Don't ask questions as a way of standing out. There might be "no stupid questions", but "unnecessary, derailing and time-consuming questions" definitely exists. Don't be the person known for asking these..
4) Stay on top of your inbox. Even though you are just cc'd and it's not for you, make sure you know what's up.
That being said, family offices could be very different. It mostly comes down to whether the senior people like you or not..
Lastly, you are most likely not going to be doing any meaningful modelling (unless they are severely understaffed) so I wouldn't stress too much about that. Know the basics and you will be fine.
Best of luck!
Thanks so much for the reply man! I really appreciate it!
very good points here
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