I was lucky enough to get a job offer to be an analysts at an REPE firm. Currently I work on the asset management side of a owner/ operatir and do very little modeling.
What should I try and learn quickly to make myself not look like a complete idiot when I get there ? Should I know how to do waterfalls, etc.
Any tips would be helpful
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Adventures in CRE
Haven't pulled the trigger on their Accelerator but will likely do so soon. Their free content is very insightful. Model alongside the video and then try to do it with the video as training wheels, then try to do it yourself.
sorry, which Accelerator? And which Model Along?
Yes, do this. Run through their waterfall models and any other model that will fit your new job description. They are free and if you practice them and understand how they work then you can build on that knowledge to tailor what your employer needs.
If you PM me your email I will send you REFM waterfall modeling kit.
If using Argus, they have an online course pack that costs like $1000. Was helpful to me when I made the transition. Also, search the Argus manual pdf when you have questions.
For Excel, Adventures in CRE is pretty good.
I'm sure it's not expected for you to be a modelling whiz, but if you can be self reliant with the above and can avoid asking questions that can be solved with a simple google search then you'll be all set.
Don’t expect any Argus but they issue a lot of debt. Anything I can read up on for that?
What type of debt? There are big differences between CMBS, agency debt, life insurance company debt, secured financing, unencumbered asset pools, private placements, publicly traded bonds, etc.
Mezz / construction financing / distressed stuff
Gramercy published a white paper couple years ago on mezz. I’ll PM you the link.
Could you send to me as well? Would be very much appreciated.
GET-REFM did a number of helpful videos and had models as well. I recommend those. I think Wall Street Prep and Breaking Into Wall Street had some content too. DM me and I'll see what I might be able to do to help you.
Lol believe me man your firm is going to have an incredibly automated underwriting template that you're merely going to plug Argus data into and then tweak a couple of assumptions/pull a couple of comps for. You're not going to be building waterfalls from scratch. Argus will take you a bit longer than Excel but even that really isn't necessary. Again, you'll likely be working off of old templates that already have your default assumptions plugged in.
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