Executive Summary / “TLDR” The single-family rental sector is still in its early days, having emerged following the 2008-09 financial crisis and collapse in U.S. housing prices. The sector is well positioned going forward, with demand for single-family rental homes outpacing supply. Demand is supported by both demographic tailwinds (millenials entering prime family-formation years) and […]
Behavioral interviews are a fundamental component of the real estate private equity interview process. In a way, they give you the opportunity to really sell yourself. For instance, you might be asked one of the explicit behavioral interview questions that we listed in the first post of this series. However, the behavioral component of REPE
Know your Audience When Interviewing for a Career in Real Estate Private Equity Read More »
Introduction To the casual observer, “real estate” may seem to be one single asset class. Perhaps your personal account is exposed to some tech, some healthcare, and maybe some REIT stocks. After all, within real estate, the gist is that landlords charge their tenants rent. How much variance can there be? But when you pry
Life Science and the Urban-Suburban Multifamily Divide During COVID-19 Read More »
Introduction The last blog covered the 1:1 spin-off of AIR from AIV, and the blog before that spoke to creating a dummy NAV build. This blog will attack the first half of the NAV equation – calculating gross asset value. To begin, we’ll model AIV as the pre-spin company. Once we’ve established our pre-spin NAV,
Public REIT Valuation Part 11: Gross Asset Value (GAV) Read More »
Introduction This is part six of a series teaching real estate private equity for beginners, specifically focused on public REIT valuation. If you’re just joining us, you should probably flip back to part one. And if you’re looking for immediate prep before an upcoming real estate private equity interview process, you might find these resources
Public REIT Valuation Part Six: Subsequent Events and Financial Statements Read More »
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.
Catch-Up Waterfall, Part Four: Asset Management Fees and Preferred Distributions Read More »
This is the second part of the real estate private equity interview prep series focusing on property pro formas. The first part of this series can be found here. You must understand these questions cold before beginning any real estate private equity interview process. Walk me through an office pro-forma The revenue side of an
REPE Interview Prep: Pro Forma Interview Questions, Part Two Read More »
One of the frequent questions we hear at Leveraged Breakdowns is whether there is a real estate private equity certification that will help distinguish applicants in a crowded applicant pool. There are a few certifications available, but they are aimed at validating the experience a person already has. Put another way, most certifications require documentation
Will Real Estate Private Equity Certification Help Me Get a Job? Read More »
One of the most common questions we get at Leveraged Breakdowns deals with getting inside the head of the hiring manager during a real estate private equity interview. What are they looking for? What questions will they ask? It is very natural to dwell on the “what” part of the real estate private equity interview
The key to landing your first job is to know the real estate private equity interview process and crush the interview. As an outsider to the industry, though, you run the risk of looking like an outsider if you don’t know the terminology forward and backward. No one wants to see that look on the
Yield Maintenance: How To Not Make A Fool Of Yourself Read More »