It's time for Real Estate courses @WallStreetOasis.com
I've noticed an ever increasing number of activity in the forums about real estate. Are any RE courses in the works? I think it would be cool to integrate RE more onto this site.
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WallStreetOasis.com
Who would be best for the best instructor and what specifically would people want a course in? Real estate financial modeling? Repe?
Would definitely love to release something in real estate, it's more about defining that course more clearly. Any thoughts?
hands down, CRE and he just might be pay-it-forward generous enough to do it. At least I hope so.
oh, we'd never expect it free, we'd pay out $$$$ -- the issue is time and finding the right mix of expertise and motivation to put something together that is incredible :-) CRE definitely drop me an email if it's something that interests you and we can chat.
definitely not for financial modeling
Hey WallStreetOasis.com (I think your name is Patrick), Can I email you regarding an idea I have on this topic of courses (not in RE) - but definitely something I think would be of value. Thanks, Chris
I would love real estate development courses as well.
second this
RE modeling, REPE, Development, Investment Sales
This. The modeling should cover a variety of asset classes across development and various types of acquisitions (i.e. modeling a value add property).
To be honest - there’s a lot of REPE modeling out there and don’t see that to be unique since many websites offer it. What about taking the more entrepreneurial route with development/financial modeling and construction courses? Thoughts?
I like the sound of this, would be a way for the courses here to distinguish themselves from the others and get more traffic
Yes exactly
The one thing I struggled to find online back when I was interviewing for CRE roles, were courses that had enough interview style modeling exams. Most of the courses I did were a “follow along as I build a MF acquisition model” type of course, with maybe 1 exam at the end of the course.
If I could’ve taken a course that had a bunch of modeling exams (the course gives the assumptions, then has a walkthrough of how to solve it) across multiple assets, both acq and dev, that would’ve been an immediate buy for me.
Thanks, this is really helpful
Funny enough, I think the only RE modeling exam I could find for free online back when I needed it, used a WSO post as its reference material. It's by the Adventures in CRE guys. It could be a good reference point if you look into making your own RE product..
Seconded. I feel like that would be slightly more useful niche to target and is better geared towards the more junior people on this site that are trying to break in, compared to those that are already in and are just trying to hone modeling skills. Just a thought.
This is a comment I 100% wholeheartedly agree with. Due to this I probably didn’t do well enough on the modeling tests.
I think a value add model would be the most desirable financial aspect to learn and have. a good model of this is very rare. Have to think about timing and all the nuances of construction costs, bridge loans etc.
I’d be interested in the above.
Adventures in CRE has a financial modeling course. I haven’t done it but I’ve used their website for interview prep and listened to a few of their podcasts- everything has been really solid. I’d expect their modeling course to be the same.
https://www.adventuresincre.com/re-modeling/
yeah, I've heard of them and I've heard of REfm as well... who would be the best person to teach this content? RE is such a massive asset class, it is not an easy task to 1. identify what to teach (what has most dramatic impact that we could deliver and add the most value) and 2. who are the right people to teach each of those modules (or 1 person)?
If you know someone that you think would be a great fit for this that can dedicate 10hrs+/week consistently, pls PM me or email me (Patrick at wallstreetoasis.com)
thank you! Patrick
REFM is good if you already have a background in RE modeling, but the models and training material offered by them were crazy hard and overwhelming when I first started out trying to learn everything. I honestly wasted every dollar I spent with them since they were of no use to me. I ended up buying every single one of Justin Kivel's courses on Udemy and learning all the basics (and some advanced material) from him. He also runs the site Break Into CRE. I would fully recommend reaching out to him.
A new competitor in the space is Break Into CRE
https://breakintocre.com/
this looks legit. can’t anyone confirm?
Seems like there's actually 2-3 RE modeling courses available already from other sources, but probably wouldn't hurt to have more with some unique offering. I've noticed there doesn't seem to be a more holistic interview prep guide like the WSO PE guide. I'm not in the industry, but as someone exploring the space this would be helpful to cover some of the more qualitative aspects like common fit questions, do's and don'ts for networking (probably overlap with IB/PE networking), CRE specific resume formatting etc.
yeah I just logged onto Wall Street Prep and they have a CRE modeling course, a multifamily modeling course, REPE waterfall course and a REIT modeling course
I think Adventures in CRE is great and has a high quantity of quality content, especially with the pay what you can model. I also think the various industry groups (ULI, NAIOP, etc.) have high quality online learning as well. NAIOP classes are free right now.
Argus training is limited everywhere as Altus holds their product pretty close to the chest.
What I do think is missing from the market, are comprehensive guides to A) breaking into the industry and B) advancing in your career similar to the guides that exist for undergrads looking to become investment bankers and investment banking analysts looking to make the move to the buyside.
Does NAIOP require annual membership to access those classes?
Yes, but the classes themselves are $500-$1000 usually so its a great deal.
Adventures in cre is awesome. I used their free material combined with some of the get refm classes to learn how to model. Something I haven’t seen mentioned yet is that the A.cre accelerator course comes with access to a forum where you can ask basically any re modeling question and one of the instructors will walk you through how to tackle the problem.
The one thing I struggled to find anywhere when interviewing for CRE roles was anything Argus related that held significant weight in hiring. I was honestly surprised at how quickly I'd get dinged for not having professional Argus experience, even with spending time/money on various courses in continuing ed college environments, and despite authoring basically the same models in Excel in day to day job. Being disqualified for having no AE experience, completely ignoring a body of work, is brutal and extremely frustrating from a career perspective.
This is one thing I've always wondered if others were in this catch 22 situation, where your lack of experience in a software quite literally limits you from roles that would give you such experience, despite how many transactions you've actually worked on, and underlying concepts you truly understand and have seen at play in the real world.
I'm not going to tell you to lie, but if you are truly confident that you have the Argus skills you'll need on the job, then just say you have Argus experience and highlight you're training (i.e. don't bring up your lack of on the job experience unless explicitly asked).
I get this alot too. I've been dinged by recruiters right off the bat for not having Argus experience, they don't think any of my past experience or the fact that I can do everything on excel is even applicable. I'm pretty sure I know my shit too, I work at one of the top brokerages and underwrite hundreds of millions of dollars of low to mid sized investment properties each year, across pretty much all asset classes, and have closed a dozen or so deals myself too.
Lesson here is that most recruiters don't know dog about real estate, get your job the old school way which is through networking.
I would also be interested if this course includes a section that looks at RE from a distressed angle: -Modelling non-performing loans -Underwriting loan-to-own real estate -Foreclosure case studies -Maybe other hard asset backed case studies on top (i.e. airplanes)
Appreciate the shoutout earthwalker7 but to be honest, I'm not sure I have the time at the moment to create a course, much less create a course that differentiates from Adventures in CRE's offerings. I also am a bit removed at this point from the daily grind of modeling in general.
I do agree with the poster that interview-style modeling tests would be a value add to the site and I've long wished to be able to run case study competitions or something of the sort for members, but it's always a matter of time for me.
I'm happy to be involved in oversight of the eventual end product or on some sort of review committee, but at this time I don't think I would be able to create it from scratch.
Love the idea though, @Colonizer"
Kind of off topic, but I think a wso moderated "google-drive-esque" function would be extremely beneficial
I'm not sure how this would be integrated within the site, but I've come across numerous threads where people suggest creating a google drive for case studies, model templates, salary expectations, etc - but always find that these threads just fizzle out and a user would only ever come across them again if they were to go on a deep dive going browsing back through multiple years of posts
I think a section for centralized lists with links to case studies, interview experiences, models, etc that are filtered by moderators for quality would be extremely helpful - especially for the majority of users here who are younger college students or analysts just starting their career
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