Got an internship at a smaller brokerage and acquisitions firm in a major market specializing in class B retail &amp; multifamily assets. Aside from real estate fundamentals and basic metrics (IRR, NOI, cap rate) are there any excel models or anything else I should get down cold before it starts?
Thanks!
[{"id": "dhquc3c", "text": "https://www.adventuresincre.com/library-real-estate-excel-models/\n\nlook over those and get a feel for things. dont go crazy, its an internship. ", "replies": [{"id": "dhs74ae", "text": "echoing this. Just have a general understanding and be willing and able to learn", "replies": [], "depth": 2}], "depth": 1}, {"id": "dhqzoft", "text": "I would research deals in the region that you are going to be in, as if you are the purchaser.  Go through the entire process of finding them, making the calls and gathering the important information.  Try to decide why a deal is good or bad.  What are the risks?  What's the best case scenario, what's the worst ?  \n\nAfter awhile you'll be able to size up deals before you crunch the numbers. Your gut feeling will guide you.  You can always crunch the numbers later as a fail safe but you will see deals through the eyes of a purchaser and not just an employee.\n\nAt least that's what I would do. ", "replies": [{"id": "dhr48i6", "text": "This is good advice. Nothing is more valuable that market knowledge and you be running a lot of comps so might as we'll get started. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "dhr53iq", "text": "Email your boss, apologize for your wasting of their Time, ask if there are any market reports someone could send you for you to begin familiarizing yourself with the local market and recent transactions. Ask as well if there is a list locations / addressed of their portfolio so you can understand their game. If any of that info is publicly available on their website, look there first. \nSource: I do this shit. ", "replies": [], "depth": 1}, {"id": "dhrc3b1", "text": "Wtf. Specialist in class B? Multi fam small firm? Apply to a better firm lol", "replies": [{"id": "dnuy4jy", "text": "Looks like I'm late to the party. He will probably make more there than he would splitting commissions at CBRE/HFF with a Director that you barely know or lives across the country...", "replies": [{"id": "dnvm08m", "text": "I wouldn't suggest that either. That's what's great about real estate, so many fish. So many that settle with being in the industry or the firm they work at or getting a foot in the door. They will never compete with those who have true passion for class B multi family, specialty. Which you don't have if you're wondering about which models are even used to do the work. \n\nMaybe one day, but if you're trying to learn the foundation, statistically you're better off at the largest foundation you can find, aka corporate giants that apply what you know to every property type in every location with state of the art tools while completing with tons of young hot shots. \n\nThen take your finely tuned skills into a niche such as OP's firm. What if he doesn't like it after 3 years and in his application all he can say is excel model provided by small firm... Not Argus Enterprise or Tableau. The technology matters more than ever and throwing in the ability to navigate corporate environments... Its really no competition. ", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "dhuarkp", "text": "I don't know what you will be doing or what you will be expected to know. Private message me if you like, CRE &amp; excel models/argus is what I do.", "replies": [], "depth": 1}, {"id": "dhxzl1r", "text": "I wouldn't worry about it too much since you'll be an intern. They'll give you various menial tasks, just be sure to turn them around professionally &amp; on time. It's kind of like an extended interview.  \n\nWhile you're there, try and find out 1 or 2 things that the guys in the office don't know or wish they had and see if you can solve the problems while you're still in school. That's how you build a career. If you ask the right questions &amp; can come up with the right answers, sky is the limit. ", "replies": [], "depth": 1}]