Leveraged Breakdowns

Real Estate Private Equity Interview Case Study

Questions to ask During a Real Estate Private Equity Interview

One of the more common questions I get from students is: “what questions should I ask at the end of a real estate private equity interview?” Right off the bat, that question implies there is a set list of best-to-ask real estate private equity interview questions at the end of each round. But if there …

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Catch-Up Waterfall, Part Four: Asset Management Fees and Preferred Distributions

Introduction This post is part of a deep dive into catch-up waterfalls, which can show up in the more technical portions of the real estate private equity interview process. Last post, we left off with the waterfall schedule below. This post will dive into the details of the asset management fee and the preferred distributions. …

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REPE Interview Prep: Pro Forma Interview Questions, Part One

Understanding real estate pro formas is critical for any real estate private equity interview case study. The revenue and expense items for each major asset class should be in your muscle memory. Even if you haven’t made it to an repe case study round, the questions below will likely arise in your screener interviews. Make …

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Using Real Estate Investment Case Studies To Sharpen Your Skills

What exactly is a real estate investment case study? It’s basically a story problem like you had in algebra class. But instead of a train leaving Chicago going west at 45 mph, we have a building that is leased to Walgreens for 45 years. A case study is a set of facts that are used …

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A Beginner’s Guide To Commercial Leases, Part Three: Other Terms

The third and final installment of this series covers several of the other key terms contained within commercial leases. Some of these terms may come up as part of a real estate private equity interview case study. You can rehearse these on your own or even practice them as part of the real estate private …

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A Beginner’s Guide To Commercial Leases, Part Two: Expenses

Commercial leases are the backbone of the REPE industry. Demonstrating a familiarity or a mastery of the terminology will help you nail a real estate private equity interview. Part one of this series focused on understanding the terminology in commercial leases related to income. Part two will zero in on the expense side of the …

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Three Mistakes to Avoid in Real Estate Private Equity Interviews

This post examines three common mistakes that candidates make when interviewing for real estate private equity jobs. I have interviewed countless candidates for various positions at my fund. If you make any of these mistakes, you will be immediately cut from my process. Protect your candidacy by avoiding these easily avoidable pitfalls. Mistake #1: Freezing …

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Real Estate Investment Case Study Challenge #1: Solution Step 3

Introduction This is the third and final step in solving the inaugural real estate investment case study challenge. This solution teaches you how to build a typical real estate private equity model used in one-hour on-site case studies. This is a basic model that you should be able to build from scratch without referencing anything …

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Real Estate Investment Case Study Challenge #1: Solution Step 2

Introduction This post is step two in our solution to the very first real estate investment case study challenge. This case is exemplary of a one-hour, on-site, asset-level real estate private equity interview case study. If you haven’t yet, go back to the original prompt and then the solution step one before reading this post. …

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Real Estate Investment Case Study Challenge #1

Solution This challenge is over! Nevertheless, you should be able to knock this out pretty easily if you are interviewing for real estate private equity jobs. You may download the solution here. The solution walkthrough begins in this post. Continue reading for the prompt and judgment criteria — this post is important before starting the …

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