Real Estate Modelling Test Practice

Hi all,

Is anyone aware of any commercial real estate modelling tests (free or at a cost) (preferably non development) on the internet? I've found the PGIM case study on WSO and the free one on REFM but both are multifamily which is not the industry I am trying to get into - moreover, I am already in multifamily so I am more than comfortable with modelling these case studies

The reason I ask is because my modelling skills are pretty good, and without any pressure, I can model as good as most people looking for junior roles. However, I don't get enough interviews (not many people give me a chance after seeing my multifamily background) and as a result, I am not familiar with the pressure (not necessarily time pressure as I can model quickly when comfortable, but its the pressure of this opportunity being last-chance-saloon in my own head) and I tend to panic so my models turn to shit. Ultimately this is not reflective of my ability but I get rejected because of this.

It would be ideal if I could practice with some real world examples, under exam conditions so that I can get rid of this mental block.

Any help would be much appreciated.

Any tests with a promote would be a bonus!

Thanks

***** It would also be amazing if anyone would be willing to tear apart one of my models but I fully appreciate if nobody has the time :)

And just so that I'm not leaching completely (!) here is a collection of what I've already found.

https://imgur.com/a/W1HFd
https://www.wallstreetoasis.com/forums/re-model-ca...
https://www.wallstreetoasis.com/forums/megafund-re...
https://www.getrefm.com/shop/free-refm-software/fr...

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Comments (27)

Nov 21, 2017

I've said this a bunch of times but get the breaking into Wall Street Real estate modeling course. I've tried a couple modeling courses, and it was the cheapest while also being the most helpful to me

Jan 10, 2018

Cheers Jsmith - I actually have the BWIS course but it's not quite the modelling courses that I am after, it is more examples of modelling tests that people have sat.

I tend to go into panic mode when I go into a modelling test, for no reason whatsoever, and I always end up forgetting the basics which I wouldn't otherwise. Eg I felt like I had a really good interview at a PERE firm where everything sounded like my dream job - I got on really well with the interviewers but when it came to the modelling test, I made some crucial errors by not keeping a clear head. Still waiting to hear back but I feel they will probably reject me.

I guess I am just trying to "condition" this out of myself and I figure the more real world examples I see, that I can complete at first glance, the more comfortable I'll be when I have my next interview.

Nov 22, 2017

Just give yourself lots of timed practice. It sounds like you've had enough interview experiences to know what to expect, so just build a variation of the model you had to make in the interview over and over until you can do it with your eyes closed

Sounds like you're more experienced than me, but that's just my thought

Jun 13, 2018

Why don't you condition yourself with LBO papers or 1 hour LBOs...

It can be easily be found online...

Jun 13, 2018

If I were you I would work on how to manage my stress rather than the models. If you think that you are capable of doing it but screw up because of the stress.

Try meditation, going to the gym before the interview, think that one day you will die and none of it really matters...

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Best Response
Jan 10, 2018

Most of the Excel case studies are based on a value-add multi-family or hotel asset. They will likely give you some base assumptions (current occupancy, rents, how long to stabilize the property, etc.) and ask you to build a model from the ground up. The case will ask you to solve for something like, "At what purchase price will make the hold-period levered IRR 18%?" Some will also ask you to incorporate a basic 2-tier equity waterfall.

So, you should know how to create:
1) Property-level cash flow statement
2) Debt amortization table
3) Sources and uses table
4) Equity waterfall
5) How to value a property using cap rate
6) How to calculate basic return metrics (IRR, cash-on-cash return, and equity multiple)

If you can do this, you will be in great shape. PM me and I can send you an example.

    • 5
Jun 15, 2018

Me too please Nate, thanks!

Jun 15, 2018

Me too please! Thank you so much!

Jun 15, 2018

Hi RE Bootcamp, can you kindly send me the model too? Would be great for my interview prep.

Jun 21, 2018

Can you please send to me as well. Thank you!

Jun 21, 2018

Could you please send to me as well! Thanks!

Jun 21, 2018

I don' think bootcamp is looking at this post anymore. No response as of yet );

Jul 5, 2018

Could you please send me the model as well, thank you!

Aug 3, 2018

Me too please Nate, thank you and appreciate your help.

You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place.

Gordon Gekko

Aug 26, 2018

Hi RE Bootcamp, can you please send to me as well.Thank you!

Oct 17, 2018

Hi,

Can u send me an example. Much thanks !

Jan 3, 2019

Were you ever able to get the info?

Oct 17, 2018

Hi if you have an example still can you also send it my way please? Thank you!

Jan 10, 2018

Would it also be possible to send me an example as well?

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Side-by-side comparison of top modeling training courses + exclusive discount through WSO here.

Jan 10, 2018
Jan 10, 2018
Jun 21, 2018

Sold recommendation for info in general. Spencer knows his stuff. Bruce at asotreg.com is great too

Jun 21, 2018

There are a lot of options. Have you checked out the MIT free online course from David Geltner? The entire archive w/ tests, case studies, and the like are available for free download.

Otherwise I would get your hands on some OMs. Go on loopnet and UW a deal. Call up a few brokers for various property types, get the financials, and wa-la, you're in business

Aug 3, 2018

You're walking around blind without a cane, pal. A fool and his money are lucky enough to get together in the first place.

Gordon Gekko

Aug 24, 2018