Help with breaking into real estate private equity
I have a STEM degree and took financial modeling courses for real estate but am not quite sure how to break into REPE. Any suggestions? I was thinking of asking the firms that peak my interest whether they’d like an intern to see my potential &amp; then move from there. (Should I source an asset they should acquire &amp; pitching it to them during/before interviews?)

Also, what are your opinions on the commercial real estate market at the moment?
[{"id": "hxl8zjh", "text": "Developer here,my investor is a RE PE fund. \n\nInterning would work. Also, having an analyst job somewhere helps you make the transition. Investment bank, commercial bank, brokerage, developer, life insurance company with a large portfolio of CRE investments, etc. Investment banking is probably the surest bet.\n\nOnce you\u2019ve worked at an analyst at one of those places it\u2019s easier to get picked up.\n\nOn your other comment - The market seems overheated.", "replies": [{"id": "hxvwkto", "text": "Thank you for your input! Definitely have been looking into analyst roles.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxlae6l", "text": "Depends what you want to do in REPE. If you want to raise equity then learn how to structure deals via LP structures (associate level). If you want to be an analyst then learn how to model acquisition, developments, etc (entry-mid level). If you want to do both then get a job at a small developer.", "replies": [{"id": "hxvwo0h", "text": "True, I think small developers are the way to go atm- thank you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxlakgp", "text": "Finding a small local firm that was hiring an associate position that I wasn\u2019t qualified for but connecting and offering to intern was precisely how I got my start. Was hired within 6 weeks full time. Granted, the job market has definitely shifted in favor of the employee. Real estate isn\u2019t rocket science and coming from a stem background makes you almost over qualified just from the analysis perspective, the real estate terminology and nuances can be taught on the job. I\u2019m sure some companies will recognize this and hire you as an analyst. But you can offer to intern somewhere in the meantime while applying and interviewing.\n\nWhat I did in the interviews for my next job is bring a physical portfolio of your work. I came from a STEM degree as well and just did a simple data analysis project using census data and data visualization. Use your STEM background as a selling point, companies (especially smaller, family oriented shops) love bringing on new people that can show them alternative ways to add value. CRE is way behind in terms of tech and data so your background should be viewed as an advantage over most other applicants. Also showed some assets I underwrote/acquired from my first job to demonstrate my knowledge. While you don\u2019t have direct experience doing that yet you can pull down a public OM and do some simple underwriting and call you specific parts of the deal. Make some printouts of your assumptions, pro forma, etc. If they ask you specific technical questions you can pull it out and walk them through how you would look at a deal. Someone recommended doing this for me and I thought it was cheesy but it\u2019s certainly worked out in every interview I\u2019ve done. Might not be as practical if your interviews are all virtual like many are these days, but companies still want to bring you in person for the final interview it seems like.", "replies": [{"id": "hxli04i", "text": "Agree it's not rocket science. \n\nAll you need to do is show and you have the ability to do the following:\n- underwrite a loan/property (appraiser)\n- track and forecast cash flow under a development/renovation scenario (Quantity Surveyor)\n\nThe decision-making and strategy (acquisition) will come later.\n\nThat's it. You're set.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxldnr0", "text": "I\u2019m looking for the same thing brother. Currently work in Fp&amp;a but I want to be real estate. I want to analyze and structure deals. If anyone has any connections, I\u2019d love to have a conversation.", "replies": [], "depth": 1}, {"id": "hxlqfub", "text": "I was in this exact spot 2 years ago. I applied and was rejected by Wharton - that was my plan. Was a computer engineer, had no way of getting in.\n\n\nThen, I made about 1000 cold calls, found two mispriced off market deals, raised $ and bought them at a huge discount. Bought for 2.3m and just received a BoV for $4m. Now people are offering me REPE jobs I\u2019m not interested in. This is a premissionless industry - pick up the phone and dial.", "replies": [{"id": "hxmhnsu", "text": "This is fantastic. How were the deals structured? Did you have skin in the game? \n\nHope you don\u2019t mind me asking a few questions, I\u2019m trying to learn a thing or two!", "replies": [{"id": "hxuzmnh", "text": "I syndicated the deals. I get 50% of the upside after an 8% return. Join Twitter if you want to learn about commercial real estate, Reddit is fairly useless. Follow Chris Powers, Nick Huber, and Moses Kagan. Expand from there.", "replies": [], "depth": 3}], "depth": 2}, {"id": "hxn4xwg", "text": "Relate to this! Just 1 less deal atm. Good stuff!", "replies": [], "depth": 2}, {"id": "hxvwgrs", "text": "This is awesome! Glad to hear your success brotha \ud83d\udc4f\ud83c\udffd", "replies": [], "depth": 2}, {"id": "hy29aym", "text": "&gt; This is a permissionless industry\n\nfantastic quotable", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxmhhty", "text": "Tell us more about yourself", "replies": [{"id": "hxvxdnz", "text": "Sure, in terms of jobs held, visions, or?\u00bf", "replies": [], "depth": 2}], "depth": 1}, {"id": "hxre5gf", "text": "It\u2019s tough.  When I ran recruiting at a top 10 PERE shop, we only hired 2 year NYC investment bankers.  These firms have internship opportunities so apply to them.  Your best bet would be the small firms that don\u2019t realize they could use the help.  Network, call them, etc to get in the door.  Don\u2019t source a deal for them to acquire.  I would be skeptical if some random person wanting a job was also pitching a deal\u2026I\u2019m probably going to disagree with you about the deal and write you off.\n\nAs well as what everyone else has said, get some certifications to show you really want the job\u2026ARGUS, Top Shelf Academy, CIM, REFM, etc", "replies": [], "depth": 1}]