Can anyone review my modeling test answers? - Super Modelers Wanted

SalesMonkey2448's picture
Rank: Monkey | 62

I am currently in a buyside sales role, wanting to break into acquisitions at REPE. Having a modeling test next week.
Can somebody review my answer for this modeling test I found in the forum? (Or even better, show me your own?)

Link to file

I'm already in REPE but I'm basically a sales guy (RFP for funds) and I'm not sure if I'm in the right direction. Any pointers and suggestions would be appreciated.

I know my work is pretty amateur and there's got to be mistakes - the goal here is to finalize a mental template beforehand so my mind doesn't break down in my two-hour test. I'm also interested in what would be an "acceptable range" solution in this kind of two-hour test.

Comments (18)

Sep 26, 2019

Are you paying?

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Oct 8, 2019

The firm changed their interview policy and mentioned they'll do a take-home (few days) modelling assignment instead of an on-the spot 2 hour one. Thanks for the offer and I just might PM you...

Oct 8, 2019

OK, I would be able to check anything you are given. Would do it for a reasonable price.

Most Helpful
  • Analyst 1 in RE - Comm
Sep 27, 2019

Thanks for the free Related case study

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Oct 8, 2019

$125 / hr and I'm all yours.

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Oct 8, 2019

deleted

Oct 8, 2019

NOI / Total debt must < 6%

NOI/6% similar to a DSCR metric for non I/O loans

Oct 8, 2019

Can I have some input on why this is a "Maximum" debt yield instead of Minimum?
I'm assuming this is a metric for the lender's point of view to assess risk of lending like LTV and DSCR.

It would make sense for me if the 6% hurdle was a minimum, but can you share your insights?

Oct 8, 2019

Assumed this topic was dead so I had turned off the link - I opened it again now. Looks like I had more people looking at this than I thought.

Oct 9, 2019

Thought the topic was dead too so I removed my answer yesterday.

My model should be correct. https://we.tl/t-eyk2qgsZLM
If anyone could teach me how to model a catch up (I understand the concept but not the formula and how it should be tied to the other formulas in the waterfall) it would be really nice.

Thanks for the answer about the debt yield we don't have this in Europe.

Oct 9, 2019

I'll PM you a waterfall with catch-up

Oct 22, 2019

Hi all, seems like I had a modeling test after all. After the test and subsequent steps I have managed to get the offer! Thanks everyone for the tips and offers.

I'd like to give my thanks and thumbs up to EuReChimp as I tried to replicate his format during the test. This helped me a lot, and saved tons of time.

In comparison to the case study here, it was very similar except the below were some key differences.
- Not development, but an existing office.
- 5+ tenants with different expiration dates, must model downtime and free rent for new tenants.
- New tenants will come in at market rent, where you will have to come up with the right figure based on the location and comps that were given.
- 1 page IC memo/investment rationale on Word >> I bought a $200 REFM case study that had this and mimicked this
- I added some sensitivities, especially as the market rent was open to different opinions. I laid out some upside and downside case and mentioned this in the IC memo, and got good feedback.

Thanks guys!

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Oct 22, 2019

Congrats dude, Great firm to land at!

Oct 22, 2019

Hell yeah! Love seeing this forum help people.

  • Prospect in RE - Comm
Oct 25, 2019

Might be a dumb question, but when you're calculating your general vacancy, why do you use min(1-general occupancy,0) when your if statement comes out to become false as opposed to just 0? When will this false statement ever trigger the 1-gen occupancy to ever be smaller than 0?

I'm relatively new to this modeling thing.

Feb 12, 2020
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