Charlie,
Before I respond to your questions in order, I wanted to list off some strengths you seem to have right off the bat. All-in, you strike me as a solid candidate
- Prestige: Went to a name-brand school, which gives you a leg up. This speaks for itself on your resume, not much to actively do but great that you have it. I assume you got what would be considered a good GPA.
- Analytics: Your data analytics background strong, strong analytical background will support you as industry shifts to embrace modern methods of analysis. I would emphasize a “moneyball” approach to real estate investing, could be a nice edge on your competition.
- Hands-On Downturn: Spin your first job as witnessing firsthand the effects of a downturn. Could make you a more prudent investor.
I’d also like to apologize for my delay in response. I realize your phone interview came and went. Yet looking at the above and reading your questions, I’d hope your qualities shone through and you’ve proceeded into the next rounds. With optimism, I hope you still might find the below helpful.
Worried You’re Lost in Details
I cannot speak to the quality or content of the WSP Real Estate Modeling course. However, I understand your concern. You want to speak “big picture.” The REPE Starter Kit is an REPE career development course designed with the candidate in mind who has less than a day to figure out the core information required for LBO modeling. That said, modeling rounds usually come after verbal technicals, which you can better prepare via the technical interview guide.
Imposter Syndrome
Imposter syndrome is largely an internal battle against negative self-talk. It also helps to realize that many other people, even in high places with status on their resume, feel the same. It can be hard to shake, but hopefully you find some solidarity in the fact that you’re not alone.
Looking at the issue differently, a lot of REPE is flying by the seat of your pants. That’s to say, you’ll hardly ever know what to do. Investing is quite literally facing uncertainty and putting money on the table. Plenty of REPE case studies attempt to simulate this uncertainty, and test if you’re able to make a quick decision and explain how you managed limited information.
The most effective professionals combine intuition with proven methods of decision-making. It takes guts, and you’ll never have all the answers. So your imposter syndrome, to a degree, reflects a level of skepticism (albeit in yourself) that would serve you well when drilling through due diligence on a live transaction.
Best way to Land REPE Job
If you don’t land a position at a reputable firm, there is no shame seeking employment at scrappier startups. I believe the best REPE gig is one that exposes you to various teams. So if you can’t work at a big fund, you could seek a smaller shop that will allow you to wear many different hats. Importantly, you could always lateral from a smaller shop into a more reputable outfit in a couple years. I’ve found that REPE teams care less about prestige, focusing more on finding the best athletes for the job.
Prepping for Advanced Rounds
I pour a lot of effort and soul into my courses. Years ago, I was a hungry yet clueless outsider eager to break into a dynamic and growing industry. Lacking insider guidance, I got in by the skin of my teeth. I’ve since dedicated this site, and the products I launch, with the hungry outsider in mind.
I always recommend the complete bundle. The best way to attack it would be:
- Knock out the REPE Starter Kit in a day or two. Then repeat it, but don’t watch the video and try to finish the REPE case study from scratch just from the prompts. Repeat until you can build this model quickly and understand each component and how each concept could be expanded to drive finer-grained detail.
- Once you grasp the REPE Starter Kit, move onto Breaking Down REPE. This course goes through a full underwriting as you’d experience it live on the job. But it’d be best to grasp the starter kit fundamentals for embarking.
- While working through the two above, practice the Technical Interview Guide three nights per week for at least ten minutes a session. When you practice the questions, speak out loud to a wall as if you’re responding to a person. Do not look at any cheat sheets, and actually use your voice to speak. You will improve most quickly in this fashion.
I do not yet have an REPE career development course related to behavioral interview questions. You can expect that to launch in a few months. That said, check out the more recent posts on the blog. I’m doing a bit of ideation on the subject and I think I’ve hit some helpful points.