Interview for Real Estate Development Company
So I have turned my focus towards finding a position at a Real Estate Development Firm. I received a response for an interview this upcoming week. The interviewee wants to meet up at a local coffee café to conduct a 30 minute interview.
I am not applying to a specific position so I am not exactly sure what I will be interviewing for. The person conducting the interview from what I understand is in principal acquisition.
My questions are how do I go about preparing for this interview? Should I ask for more details for the position I am applying for when conforming for the interview? Finally what is the best way to prepare for the interview? What types of question should I expect?
I have an eerily similar situation coming up next week.
One of the items the interviewer has inquired about is my Excel skills. Fortunately, via a friend, I was able to get a copy of an Excel workbook for real estate. Its pretty thorough.
Another aspect is the general flow of a development project and, obviously, general real estate trends.
Good luck
I was just going to make a post to as for a book or online course to brush up on my excel skills. What is the name of the book you used to prepare? Can someone recommend an online crash course specifically to what I might encounter for this position/interview?
With an RE development firm, it's definitely going to depend a lot on the type of the firm and also the nature of the position. Some "RE development" firms also have substantial funds under management and make most of their money through investment, carried interest and management fees (this is common for the very best RE developers -- they have internal, very large PE operations... example: Hines), other RE development companies simply develop as a service for other investors and make their money through development fees, etc...
You should try and find out more about the positions available at the firm and the nature of the firm before the interview. Find out what geographies they focus on, what property types they specialize in (office, retail, mutli-family residential, industrial), etc... In the event that you're interviewing for a position in "acquisitions", this is more like an REPE position and you'll have to know, at a minimum, how to build a DCF and some other basic valuation stuff... but otherwise i think the "excel skills" your interviewer mentioned just means basic skills (keeping track of budgets, etc.)
Know what Argus is, because it's the language of RE.
International Pymp summed it up pretty well. Know your basics like cap rate, how tenant rollover and renewal can affect your IRR, ask what their preferred debt/equity mix is and obviously the geographic market they prefer to operate in.
Real Estate Development Analyst Interview (Originally Posted: 02/10/2013)
Hi all,
I have an upcoming phone interview for an entry-level position at a Real Estate Development Company as a Development Analyst. This would basically be my dream job. What type of financial type questions should I expect if any?
Thanks for the help
Use the search function. Understand terms and know how to calculate things like: NOI, cap rates, GLA, CAM, taxes, diff types of RE- residential, commercial, etc. If you pm the job description I can give you more info.
LBO is a must if your functions would include the financing of the development projects
BIWS has a real estate/REIT modeling course. It's like $250 but I think it goes over a ground-up development. Probably would be a good investment considering that's your "dream job."
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