interview coming up at RE dev/management company, what to learn to impress them?
Hi WSO, i'm a sophomore and I have an interview coming up with a sorta small RE Dev/management company. I want the internship really badly so I want to self-teach myself some advanced stuff. Does anyone have any suggestions? I have about 1-2 months to prepare.
What product type(s) do they work with? Define "sorta small." What kind of development? Ground-up? Opportunistic repurposing? Please elaborate.
Know how to do a basic back of the envelop analysis on a property. Know cap rates, loan-to-value, what sort of income the property can generate, and have a sense of determining the ROA of a property. Knowing what would be the highest and best use of a property, what potential tenants you would pitch to for a location, etc. As a sophomore, though, I imagine the best thing you can do is make it clear that you want to learn and you're eager.
I would also recommend buying "The Real Estate Game" by William Poorvu. Great book that will teach you the basics of what you should know: http://www.amazon.com/The-Real-Estate-Game-Decisionmaking/dp/068485550X
You can also get fancy and buy the Bisnow "Everything You Wanted to Know about Commercial Real Estate but Were Afraid to Ask" video... great broad overview of the industry: http://www.bisnow.com/everything-you-ever-wanted-to-know-about-real-est…
Know the local market and familiarize yourself with the deals that are going on. Look at local business journals and they almost always have a reporter who is dedicated to reporting on real estate transactions that are planned and executed. If you can show the manager that you are intimately interested in real estate and have dedicated some time to knowing what is going on in the local area, that can make a good impression. Development is all about relationships and experience, especially if it is a small shop that focuses on a local market.
As far as technical skills go, I would echo what copecre said. Being a sophomore you can't know enough to do much, but at least have a willingness/excitement to learn.
hey thanks, everyone's advice here was really helpful. I had the interview yesterday and I got the internship for the summer - i"ll be doing basic accounting & i'll be putting together packets of financial info to send off to banks to secure financing for projects
Accusantium quia non ducimus libero quia necessitatibus. Praesentium ipsam vel quidem reiciendis quia consequuntur sit.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...