[Sketchy RE PE Firm] Fresh College Graduate Seeking Help n Input
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[{"id": "fp4zdb6", "text": "Some background info would help. How did you find them/they find you? Did you not ask about past deals during interviews or was any of it mentioned whatsoever? What would they say you would be doing for them? Have the two principals you mentioned worked for any reputable firms in the past? If any of that seems off then it's probably sketchy. No idea what the two links you posted are but those could be legit, no clue.", "replies": [{"id": "fp56xft", "text": "Hi, thanks a lot for the help! This situation is so unconventional that I don\u2019t even know where to start, so bear with me! \n\nI found them on LinkedIn, where they posted a position with more than 600 applications. \n\nThe principles are couple (or at least I believe so). The male principle is a citizen but not a native English speaker and it\u2019s is a bit hard to understand him; the real kicker is, after some digging, I don\u2019t even think he\u2019s going by his real first and last name (or maybe he changed his birth name after becoming a citizen idk), and there\u2019s no previous work experience listed on his LinkedIn. However, he gave me access to company\u2019s CRM, task mgmt system, models, property flyers, etc. ( I\u2019m in the process of on boarding but the contract is still being prepared by a lawyer, real one), so it seems that the company is really up to something. He also has someone answering his phone. \n\nThe female principal: I\u2019ve never met or talked to (makes sense given the covid19 tho). I can find her profile from multiple sources - Bulge bracket investment banks, co-founded a local boutique bank, BA from a top US college, and an MBA from a top British school. I\u2019m not sure about the legitimacy of her education, but seeing from the LinkedIn recommendation letters she received from her previous coworkers (real people, real accounts), I\u2019m 90% sure that her work experiences are legit. But she self-proclaimed to be members of some organizations related to British royal/ aristocratic families, which I cannot prove and find it a bit fishy. \n\nNone of these two have profile photos, why? \n\nAnd about the transactions. The principal said the firm has been around for 10 years and has closed hundreds of millions of transactions during the past ten years, but why doesn\u2019t he list those transactions on company website? Any way to prove the existence of those transactions? Also, I know the firm has changed its name twice, or maybe they are different firms started by him that are longer active. Is it a red flag?\n\nI have also spoken to two other analysts with the firm, they are solid people who graduated from solid colleges and joined the firm last winter. I plan to reach out to them to find out more tomorrow. Does it sound like a plan? \n\nDoes this background look elaborate enough to you? I know I\u2019m just rambling on here, so hope you don\u2019t mind. Can someone with industry experience decipher these perplexing signs for me? Why do they do this? The reason I am making a fuss about it is that the job market right now is so bleak and I\u2019m not sure when the next offer will come, if it comes at all, so I want to make sure this opportunity/ risk is worth taking.", "replies": [{"id": "fp61bxr", "text": "This is definitely and a strange setup. I think you should absolutely speak to the other analysts about their impressions of the company and what the deal flow and culture are actually like. Did you meet the male principle in person? Do they have an actual office somewhere or is it remote only. \n\nTo me, the biggest red flag is that they gave you access to their CRM and models without having you fully onboarded. \n\nIf you DM me the name I can check them out in some databases I have access too.", "replies": [{"id": "fp69m1u", "text": "Hi thanks! I\u2019ve never seen him in person. This all happened after the COVID national emergency. \n\nI think, not sure tho, that they have a physical location and it\u2019s pretty nice.  It\u2019s remote as for now since everyone is working from home. Not sure how it plays out down the road. \n\nI totally agree. I\u2019ll reach out to the other analysts to find out more. I just messaged you!", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "fp59ffz", "text": "If youd be down to pm me their name i could probably just tell you. Ive been in the industry over a decade all over the world and have certainly seen my fair share of sketchy firms haha.", "replies": [{"id": "fp688x2", "text": "Thanks! I just did!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fp5xk4o", "text": "If you PM me the firm name I can look them up on RCA/CoStar", "replies": [{"id": "fp68b6x", "text": "Thank you! I just messaged you!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fp60xol", "text": "If you're on-boarding now, can you not just take a look through their shared drive and get an idea of past transactions through PSAs and info on the current portfolio?\n\nThere are plenty of sketchy firms out there, but if you've already got a foot in the door it should be pretty easy to dig up. Can you PM me the name?", "replies": [{"id": "fp68x6u", "text": "Thanks! I did look into their shared files and turned out there\u2019s no previous transactions. There is an ongoing transaction still in acquisition stage. The principals has started two companies before this, under different names. I guess that\u2019s what they meant by \u2018ten years of experience\u2019. I just PMed you.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fp66jm3", "text": "IMN is a real organization but they host conferences that are paid for by vendors so that investors don't have to pay for admission. So in a sense, it's more of a sales expo driven business model -&gt; and therefore sometimes speaker quality isn't as strong. We had a partner speak at one once and we realized their events are legit but not as high quality as say a NHMC conference.", "replies": [], "depth": 1}, {"id": "fp6896a", "text": "The amount of due diligence that you\u2019ve done looking into this group makes me hopeful for your career in CRE. Just promise that you\u2019ll never use \u201csmh\u201d in an email.", "replies": [{"id": "fp6bzdk", "text": "Haha I\u2019m definitely won\u2019t do that in an email", "replies": [], "depth": 2}], "depth": 1}, {"id": "fp6c2wv", "text": "May want to consider snooping around on Linkedin to see if they have any mutual connections to reach out to in order to get some scoop. Past professors and the career development office may also be a solid resource.", "replies": [{"id": "fp6dgah", "text": "Thanks! This is a really good one. I\u2019ll look into that.", "replies": [], "depth": 2}], "depth": 1}, {"id": "fp6sb01", "text": "I can definitely help as well. Feel free to PM me. It\u2019s not necessarily that strange they have sketchy online presence though. Some of the bigger firms like to \u201cseem\u201d mysterious online. Westbrook Partners and Fir Tree Partners, for example, have $1B+ real estate funds, and they have the sketchiest websites lol", "replies": [{"id": "fpa9qp2", "text": "But why I mean I just can\u2019t warp my head around it. Doesn\u2019t it help if they high key list all their portfolios online so people might be more willing to work with them? Or am I just too naive here? I\u2019ve messaged you! Thanks!", "replies": [], "depth": 2}], "depth": 1}, {"id": "fpklqp1", "text": "Give us an update when you get things straightened out!", "replies": [{"id": "fpmfgz5", "text": "will do! Thanks!", "replies": [], "depth": 2}], "depth": 1}]