Market Analyst, Investment Deck and REFM Help (please)
I was able to interview with a company after trying to get out of the operations side of the market for a while now. The timing is perfect and in a few months they are going to need to hire someone to help with head developer with the market. The guy said he is running extremely lean right now and could really use me doing Market Research Analysis, REFM (industrial, construction), and building the investment decks. Now I know what this all generally pertains too but I have not done much of any of it besides a couple modeling courses.
What is the best way to tackle self learning for Market Research Analysis and Investment Deck building? I am going to try and build a portfolio of about 3 current deals in the area and put together a model, analysis for each submarket, and an investment deck. I really want to land this job and I know if I bring that to the meeting in a couple months I will raise my chances.
FYI. This is a starting analyst position, I am basically fighting out MRED students, however network wise I have them beat by a mile. Also I have been talking with the decision maker back and forth since the interview, seems to really want me to be prepared so I can nail this.
Really appreciate any of the help you guys can give, Thanks!
First, a general question...
What is your background? Work experience, internships, etc. (give more details about operations? for an RE company?)
What is your educational background? UG degree/major (any grad school), any course work in business, finance, or real estate?
Depending on your answers, will allow me and others to give a better set of guidance.
Bachelors in Urban Development and Bachelors in Business Admin. Interned for CBRE, and local developers doing due diligence, project management, and deal/land sourcing. Worked in Project management for a year for a developer (Bidding TI's, Maintnence, Vendors, Leasing). I have my sales license, I am part of NAIOP and ULI and their mentorship programs. Currently doing my getREFM certs.
Okay, given above info. You have a good background overall, but perhaps lacking directly in finance. Overall, that is probably the easiest part to overcome relatively, once you learn in it, you have it and just need the experience to get really good/proficient.
Frankly, I would do as many online courses as you can, REFM makes sense, but I would also try and get some work product from others of example models, decks, OMs, market analyses, even appraisals. Read them, try and understand what is going on, and get comfortable with form/substance/layout/etc. Try and get as knowledgeable about the relevant market as you can. I.e. be the most "prepared" sounding you can.
Market research is not rocket science, but it has methods and best practices. Picking comp sets, researching history, projecting trends all have a large degree of subjectivity but can also be done in very quantitative means. You may want to find some text/course on market analysis that is geared towards appraisers, may be useful and help you understand the purpose.
At the level you are being hired, you should be fine with a good understanding of means and methods of basic market research. Simply reading research reports (like from brokerages/data providers/investment firms/consultants/etc) will get you far in seeing what can be and is done. In all honesty, this type of position is not that "hard", but when you are new everything is foreign.
So in summation... read as much as you can (reports, OMs, decks, maybe some texts) and build and work on models (sounds like you have started that). If they like you, the fact you don't have an MRED shouldn't kill you (I mean, it's up to them to decide it's a must or not), you can easily get positioned as well as the average grad given your UG major and work exp. The above avg/exp. MRED may outpace you, so showing dedication/interest is critical. At the end, the person who is deemed the best "fit" usually wins, not the one with best pedigree and it sounds like you are already ahead in that competition.
This is gold thank you, whats the best way to get decks and OM's, talking to brokers and asking for old ones?
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