Missing skills to break into REPE from RE valuation advisory
Hi;

Currently a Big 4 adviser; working mostly on RE valuation.

I'd like to have your opinion on skills I need to develop to land/be successful at a REPE job (i.e. acquisition analyst) and where to get the knowledge.

1. Missing knowledge :  
\- Cash-on-cash; IRR  
\- Debt yield and service.

**Anything else I have forgotten ?**

&amp;#x200B;

1. Sources to get the knowledge ?I found several; consensus seems to say that ACRE is the best; but WSO; and break into CRE seems to be solid options too.Lastly; I saw 1 option which relevant and free : Joshua Kahr.

**Any suggestion ?**
[{"id": "ip6nuap", "text": "Those are all solid option to learn those things and you do need them. The big skill not on your list is financial modeling. Can you build a model? \n\nIf your boss comes to you and says I need to know what my cash on cash is if we refinance in month 20 once the lockout on our loan expires are you able to set that up dynamically in excel and can you audit it to know that it works? \n\nIn any business industry there are a couple things that make someone valuable. Connections, wisdom, and the ability to do the analysis (here modeling). When you first jump into the industry you will not have the connections or wisdom which will take years to develop, but you do have the capacity to model just as well as the twenty year veteran. Because they have the connections and wisom it makes sense for them to focus on that and leave modeling to the young guys so that is your competitive advantage.", "replies": [{"id": "ip6oclf", "text": "Thanks for the reply  \n\n\nDidnt include modelling; as I believe its a common skill for a valuer in RE.", "replies": [{"id": "ip6x8vu", "text": "I do not assume because when I was trying to break into front office roles I did not know until someone told me.", "replies": [], "depth": 3}, {"id": "ip7bnb8", "text": "To be clear, it\u2019s expected to build a full model from scratch. \n\nI\u2019ve actually done this transition and when I was in VAS, all the excel models were prepared for us for the sake of valuation. We just played around with the inputs. \n\nBut REPE you may need to build your own unique pro forma from nothing.", "replies": [{"id": "ip7eegx", "text": "Thanks for the clarification\n\nMy department does also in-house valuation, so I m exposed to valuation models but not to the cash-on-cash and debt related topics at the moment.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "ip7g9h1", "text": "On the modeling side, waterfalls and loan drawdown schedules/construction monitoring (latter for some value-add/opportunistic deals with significant renovation needs) come to mind. \n\nYou\u2019ll also be spending a significant portion of time drafting IC memos, so it\u2019s important to be able to write concisely. Assuming you do writing in VAS, but you\u2019re largely being objective, versus  having a clearly articulated thesis in REPE.", "replies": [], "depth": 1}]