Currently work in research but looking to break into more of a underwriting/analyst role
I currently work in research at a Capital Markets firm. Been in the role a little over 5 years. Basically do market research, run comps, give lender ideas, generate leads, track CMBS and agency debt for upcoming maturities, etc. I have been asking my managers and HR to move to an underwriting role or at least get more exposure to it but they don’t seem to want to make that happen. Also struggling to find roles externally in this market that would allow me to do that. Not sure where to go from here. Have been networking a ton on LinkedIn but no traction yet. Any ideas on how I can make this transition?
[{"id": "iw8mugf", "text": "Sorry I don't have an answer for you, sounds like a very frustrating situation, but how do you track CMBS data?", "replies": [{"id": "iw8o3ce", "text": "Morningstar/Trepp/DBRS Viewpoint. CoStar has some CMBS data and so does RCA. I think you can actually make a free account for DBRS Viewpoint.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iw8q1zn", "text": "You need to show some credentials for financial analysis. Real estate modeling in excel can get quite complicated and they don\u2019t want someone with mainly research skills responsible for important excel work. Try apply outside, take a course like REFM, adventures in CRE", "replies": [{"id": "iw8qpex", "text": "I took the break into CRE financial modeling boot camp.", "replies": [{"id": "iw9ftpk", "text": "Have you built a model and showed it to them? You have to demonstrate the ability. Do it under the guise of asking for advice on how to make it better. Also you may have to leave for an opportunity.", "replies": [], "depth": 3}], "depth": 2}, {"id": "iw8v8jd", "text": "Financial modeling requires high school level skills.  Attention to detail can't be established by an online class.\n\nAn Argus AE cert would mean as much or more to me.", "replies": [], "depth": 2}, {"id": "iw9bpdt", "text": "Disagree. The math is pretty simple and the only confusing part could be CAM pools in Argus but shouldn\u2019t take long to understand. \n\nOP you need to make the transition soon bc you\u2019re getting too senior for an analyst role. Start networking", "replies": [], "depth": 2}], "depth": 1}, {"id": "iw8vf58", "text": "Five years in what is essentially a junior position is hard to move on from.  I hate to say it, but a graduate degree is probably better.", "replies": [{"id": "iw8vnl5", "text": "Yeah I hear you. Sucks because a degree is another 2 years min", "replies": [{"id": "iw8xlot", "text": "Those are going to be a shitty two years in real estate so may as well get it now. You ain\u2019t going to miss much", "replies": [{"id": "iw8xpsm", "text": "True lol", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "iw901mp", "text": "Well, what do you want to do long term? What do you like about your position? \n\nBig market, small market?", "replies": [{"id": "iw90cfa", "text": "I love getting to work on the deals themselves. Every once in a while I\u2019ll do a bit of financial analysis which is my favorite part. I would like to either work in acquisitions or on a deal team. I\u2019m looking to really expand my analysis skills and also the general business end of it.", "replies": [], "depth": 2}], "depth": 1}, {"id": "iwa3u1p", "text": "Wish I could help... Reading through the comnents you seem like a genuine and capable person. It's never too late to chase what you want", "replies": [], "depth": 1}, {"id": "iwaao8x", "text": "Do ACRE course. Big help and easy/ cheap to do", "replies": [], "depth": 1}, {"id": "iwcfty8", "text": "You don\u2019t need a degree. Pick up a few books on real estate financial modeling. Learn excel. Learn to create different types of models (proforma, development, value add, etc) . Learn about real estate contacts and the acquisitions/ dispositions process. From there when you begin to interview structure your story around your experience and things you have learned along the way and why you are interested in financial model. At the same time show them you understand it. Introduce \u201ctrigger words\u201d as part of your interview. (Proforma, cashflow analysis, Dscr, financial model, IRR, equity multiple etc). Look at entry level positions. Also if you \u201cknow\u201d (cough cough) any friends / family that bought real estate just tell them how you helped them evaluate good deals. Good luck! \ud83c\udf40", "replies": [], "depth": 1}]