Anyone have any info on exit opps/career path starting in this kind of role? Had a phone interview today that went really well and was pretty much told on the spot I would get an in person interview. Also was told there would be an Excel test. What can I expect for that? Thank yall.
edit - any good online resources to learn about affordable housing?
| +48 | Being asked to stay behind and train my replacement | 14 | 2d | |
| +36 | New Comp Database - Google Form (Now with Data Validation) | 24 | 6h | |
| +33 | Best CRE brokerage firms | 24 | 9h | |
| +30 | What does REPE actually do? | 12 | 10h | |
| +26 | Starting University LP Fund | 6 | 5h | |
| +24 | Public Homebuilders | 9 | 11h | |
| +23 | Leave brokerage to be GP | 1 | 1h | |
| +22 | REPE/Development GPA | 15 | 1d | |
| +19 | Restoration Hardware | 5 | 5s | |
| +17 | MSRE/MSRED with no RE experience; Naive to think I’ll land a job afterwards? | 4 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
Bump
I presume it would be like any other debt modeling as in you're protecting downside risk as a senior lender. You want to read the QAPs and affordable housing guidelines in the states your company would lend in. Practice amortization schedules, scenario analyses, etc.
I believe they lend to multiple states, possibly nationwide. Anywhere specific to learn more about amortization schedules and scenario analyses modeling? I'm pretty intermediate with modeling. I have REFM and BIWS but haven't looked at them in awhile or practiced much Excel at all in awhile since I've been studying and practicing ARGUS. Thank you
ARGUS is going to be a total waste of your time (as it relates to this interview). As others have said, understanding a little bit about how tax credit financing works is worth the effort. Ditto Section 8. You're not going to be expected to build a flawless underwriting model in an interview, but understanding the hows and whys of the industry will certainly help you understand that model later on
You can learn amortization schedules and scenario analyses with basic Google searches. Just make sure you can build one and understand the concepts. Read materials on LIHTC, Section 8, and other HUD programs as well. Novogradac is a good resource.
Also, if you’re doing affordable housing I don’t think learning Argus makes sense. Real estate modeling is pretty simple, but affordable housing gets entangled with legal and regulatory guidelines.
Gotcha. Looks like some review from the REFM course actually so shouldn't be too hard to pick back up on. Will take a look at Novogradac, thanks again!
I work in tax credit equity, generally a piece of the capital stack for many of the deals you would be working on. My thought is you could become an originator, relationship manager or underwriter simply by staying on your track. There are some helpful youtube videos explaining affordable housing finance, but if this is an entry level role they probably aren't going to expect you to know much. There is a somewhat steep learning curve for this stuff that is pretty much only learned on the job.
Anyone have any idea on salary, base + commisssion, for a position like this?
At my bank, affordable debt analysts for balance sheet loans start around 90,000 for hcol city and could expect first year bonus in the ballpark of 15-25k.
What type of bank is it like a jpm/wells? And how does the bonus change for second years?
Bump ^
Also, how would this salary be different if you worked at a brokerage like Greystone as opposed to a bank like say Capital One?
Accusantium rerum perspiciatis illum id. Fugit aliquam quisquam maxime repudiandae. Et corrupti expedita dolorum dolores.
Sint officiis quia omnis at sed ut. Dolorem quo doloribus sed optio quas tempora. Cumque voluptatem adipisci ab dolores alias sint id. Doloribus nihil commodi eum. Eum aut nulla alias assumenda.
Quo inventore voluptatem quas facilis quidem maxime et. Illo fugiat expedita perferendis earum. Assumenda adipisci ea qui sed dolorem deserunt. Soluta placeat aut dolor mollitia et aut. Pariatur ea aliquam maxime. Ratione culpa tempora eum eos vel.
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...