Leveraged Breakdowns

Real estate equity investment

Underwriting a Commercial Real Estate Construction Loan – Intro and Setup

Introduction and Scenario Setup In the world of real estate equity investment, there is much attention paid to the equity that needs to be raised to get a deal closed.  While the equity piece is critically important, it doesn’t tell the whole story.  In nearly all cases, it must be paired with some amount of …

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When Real Estate Private Equity Investments Go Bad (CMBS Part 1)

Your Big Bet on Last-Mile Industrial Let’s imagine a scenario where a real estate equity investment doesn’t go quite as planned. Let’s say you’re two years into an investment you made in 2020, committing fund equity into a 30-property last-mile industrial portfolio. Back then, industrial real estate was hot and cap rates were only going …

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Developing Market Knowledge, Part 2: Data Sources

To get a job in real estate private equity, you need to master three things: You network as hard as possible and learn by speaking with professionals who make real estate equity investment decisions every day You have developed data-backed opinions on real estate markets, namely: what has happened in the past, what is happening …

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REPE Interview Prep: Major RE Sector Cash Flow Profiles and Development Financing

This post is part of our interview prep series, where we teach you to answer common interview questions from a real estate equity investment mindset. The first question here focuses on the key differences between the major real estate sectors. The second two questions shift to focus on construction financing. All three concepts are critical …

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REPE Interview Prep: Accounting and Financial Statements, Part One

Accounting is the language of finance. Though you do not need an advanced CPA skill set, you must be familiar with GAAP and IFRS accounting. Certain real estate investment case studies may require you to tease out crucial information from financial statements. If you do not understand the information below, you are not prepared to …

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Real Estate Private Equity Model 101: Other Incentives

There are five primary tax incentives in real estate private equity that can boost returns in your real estate equity investment. Analysts should understand the mechanics of each so they can build effective real estate LBO models. Two of these incentives have been covered already: Property Tax Incentives and Sales Tax Incentives. Federal and State …

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