How much is experience worth? Should I feel pissed off?

July 24, 2013, 7:31 pm

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Hey,

I wanted to get some advice from you all about co workers salaries:

I am a manager of a portfolio of commercial real estate. I do not make much money as it is, but while speaking with another co worker who also manages property, I found out that he makes DOUBLE my salary. The other manager in the office makes almost double as well. Now, these managers have 15-20 years experience, while I have 1 year, but I manage a much larger and more time consuming portfolio compared to them. I also travel much more. Besides their experience, WE DO THE EXACT SAME JOB.

Should I feel a bit pissed off? Should I confront the company over it? ... how much is experience worth if we do THE EXACT SAME THING.? Ugh... I dont know how to go about confronting anyone over this, or even if I should.

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Good Current Event Article on REITs

July 25, 2013, 2:33 pm

≫ Next: How hard to push for a position without coming across as desperate?

≪ Previous: How much is experience worth? Should I feel pissed off?

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A client of ours made the Journal this week. Good read about the inner workings of a REIT.

[quote]Commercial Property Pros Lock Horns over CommonWealth REIT

Last summer, when Jeff Blau, chief executive of Related Cos., was approached by a young vice president with what he saw as a great buying opportunity, no one at the company thought it would trigger one of the fiercest commercial real-estate brawls in years.

The battle, which is headed for a showdown this week, pits Related, controlled by billionaire Miami Dolphins-owner Stephen Ross, against the Portnoy family of Boston, which controls a property empire worth more than $20 billion. It also shines a spotlight on the world of real-estate investment trusts that are run by external management companies.

read more

How hard to push for a position without coming across as desperate?

July 25, 2013, 4:17 pm

≫ Next: Texas Cap Rates

≪ Previous: Good Current Event Article on REITs

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Fellow monkeys,

I am trying to step back here and ask you all for some advice. I am very interested in a position. This is for a large real estate firm where you can apply only on the black hole known as their career services page.

I have never gotten a job by just sending in my resume to the online portal. In the past I hunted down the recruiter posting the listing and was able to get a phone call. For this particular position, I have called two recruiters about the position, got my resume forwarded to another recruiter in that hiring office, but haven't heard anything since. I am ready to put a couple phone calls into the guys on the team for the open position (*I believe I have found the guys).

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Texas Cap Rates

July 27, 2013, 3:01 pm

≫ Next: Elite MBA Programs for Real Estate

≪ Previous: How hard to push for a position without coming across as desperate?

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I noticed it is easy to find commercial properties in Houston/Dallas/Austin that have cap rates in the 10-15% range, while in NYC it's pretty hard to find anything with a cap rate above 5%. From what I understand about cap rates, they are lower in cities that are expected to have more future appreciation.

So, why are cap rates so high in Texas? I would think massive oil and natural gas reserves plus a surging population would equal bullish market for Texas real estate over the next 25 years. Why is commercial real estate being priced for a zero growth environment?

Disclaimer: I'm a newb at real estate finance, so sorry if these are stupid questions.

Elite MBA Programs for Real Estate

July 29, 2013, 2:02 pm

≫ Next: 2.3 GPA, 680 GMAT, USC's Masters in RE Development: Do I have a chance?

≪ Previous: Texas Cap Rates

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I am planning to apply to a few elite MBA programs this fall, but plan to focus on real estate development after graduation.

I would be interested in hearing everyone's take on the top Business Schools for those interested in real estate. Schools like Harvard, Wharton, and UNC seem to have real estate departments and lots of RE electives while MIT and a few others do not.

2.3 GPA, 680 GMAT, USC's Masters in RE Development: Do I have a chance?

August 10, 2013, 11:38 am

≫ Next: Georgetown's MPS Real Estate program

≪ Previous: Elite MBA Programs for Real Estate

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As the title says, I am wanting to get into USC's Masters in RE Development program.

I have a very low GPA of 2.3 from a University in the Top 50. The GPA came about from a mix of personal family problems at home to not giving a crap.

I got a 680 on my GMAT.

I have 5 years work experience in real estate - Asset Management managing a large 2MM SF portfolio across the US, Commercial Credit Analysis, and Commercial Brokerage. I would be able to get a couple stellar recommendations from owner's and principles. I am very active in ULI, BOMA, and IREM.

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Georgetown's MPS Real Estate program

August 10, 2013, 10:16 pm

≫ Next: Entry Level Positions in RE

≪ Previous: 2.3 GPA, 680 GMAT, USC's Masters in RE Development: Do I have a chance?

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Hey guys,

Does Anyone have any experience with Georgetown's Masters Real Estate program? How does it place and where? What kind of stats do you need to get in? I have 3-5 years experience in the industry.

Thanks

Entry Level Positions in RE

September 4, 2013, 1:26 pm

≫ Next: Real Estate Investment

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Hey everyone

Basically I dont know what the hell I want to do for a career. I was planning to go the IBD route and have a previous internship in that area. Long story short, I decided that that lifestyle was not for me.

I'm looking to potentially start a career in Real Estate. I have always been interested in RE but for whatever reason did not think of it as a career. Shows like Million Dollar Listing and the RE "flipping" shows have lately been my "go to" shows when I turn on the TV. I know that most of these shows are set up and most times do not reflect reality, but they have shown me that I still have a growing interest in RE.

read more

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Real Estate Investment

September 9, 2013, 2:47 am

≫ Next: How to get to a Real Estate Development Fund

≪ Previous: Entry Level Positions in RE

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Hi, I am Anuj Gupta. I want to be a real estate investor and also want to discuss my views and share my queries with people that why I have joined this forum.

How to get to a Real Estate Development Fund

September 13, 2013, 9:50 pm

≫ Next: Interview w/ Baseball Pro turned Real Estate Acquisitions Analyst

≪ Previous: Real Estate Investment

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Posting this on behalf of a friend. So be nice you filthy apes!!

Hello,

I am an architect in Denver and I want to eventually work at a Real Estate Development Fund. My functional architecture knowledge is great and I am close to getting licensed, but unfortunately I have never studied finance.

Can someone please recommend some books to read about real estate specific finance or anything else that I can do to get up to speed on how deals work real esate development? I understand accounting and how to read financial statements but have never modeled any deals. Any advice would be appreciated.

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Interview w/ Baseball Pro turned Real Estate Acquisitions Analyst

September 16, 2013, 7:30 am

≫ Next: How will short term interest rate increases affect real estate prices if the yield curve inverts with long rates roughly stable?

≪ Previous: How to get to a Real Estate Development Fund

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The following is an interview with RE Acquisitions Analyst and new WSO Blogger PinkPoloShorts (he is also available to answer your questions)

Are you a professional and want to do an interview? View our interview template here and then email me your responses to Andy@wallstreetoasis.com. AMA's and "How I Work" posts are also an option. Let me know!

1. What is your job title?

1) I am a financial analyst in acquisitions at a small real estate private equity firm specializing in residential land development and management.

2. What are previous positions you have held and how many years of experience do you have?

2) This is my first finance job and I started in January of this year. Prior to working at my current position I was a professional baseball player in the Cleveland Indians minor league system.

Undergrad

3. Did you go to a “target”, “semi target” or “non target”.
   I went to a target school and played for the school’s baseball team.
   

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How will short term interest rate increases affect real estate prices if the yield curve inverts with long rates roughly stable?

September 19, 2013, 8:28 am

≫ Next: Goldman Sachs REPIA Interview

≪ Previous: Interview w/ Baseball Pro turned Real Estate Acquisitions Analyst

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Can anyone point me to academic research on the topic.

Goldman Sachs REPIA Interview

September 22, 2013, 12:17 am

≫ Next: Paulson buys Puerto Rican resort

≪ Previous: How will short term interest rate increases affect real estate prices if the yield curve inverts with long rates roughly stable?

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I have a first round interview coming up this week. I am really interested in learning about anyone's personal experiences interviewing with GS REPIA. If you have heard anything about their process, please comment as well.

I have done interviews before with other REPEs, so I do know generally what to expect.

Thanks in advance!

Paulson buys Puerto Rican resort

September 23, 2013, 7:29 am

≫ Next: Underwriting large commercial real estate portfolio's for an investment bank and/or mortgage bank

≪ Previous: Goldman Sachs REPIA Interview

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I think the resort got hit pretty hard in the downturn. Haven't seen Paulson in hotels before. http://www.streetinsider.com/Hedge+Funds/John+Paul...

Underwriting large commercial real estate portfolio's for an investment bank and/or mortgage bank

October 1, 2013, 5:50 pm

≫ Next: Can Private REITs be placed in an IRA?

≪ Previous: Paulson buys Puerto Rican resort

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Does anyone have case studies, excel work, or an aid for underwriting large portfolios? I am looking for something that a typical mortgage bank or investment bank would use.

Thanks

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Can Private REITs be placed in an IRA?

October 3, 2013, 12:12 pm

≫ Next: Semi-Target Resume Review

≪ Previous: Underwriting large commercial real estate portfolio's for an investment bank and/or mortgage bank

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I was pondering this early today. REITs must give 90% of its income to the share holders, but also avoids taxation by doing so. If the shareholders own the REIT in an IRA which defers taxation, would the shareholder essentially keep all of the income until it is withdrawn?

If anyone has any insight on this matter, it would be greatly appreciated to hear about it.

Thanks

Semi-Target Resume Review

October 7, 2013, 11:19 pm

≫ Next: Sam Zell Forecasts a Suburban Decline

≪ Previous: Can Private REITs be placed in an IRA?

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I'm very interested in careers in investment banking and real estate.

I'll be giving out SBs for solid reviews. Thanks.

Sam Zell Forecasts a Suburban Decline

October 10, 2013, 6:42 pm

≫ Next: FFO question

≪ Previous: Semi-Target Resume Review

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FYI:

http://www.cnbc.com/id/101095397

FFO question

October 23, 2013, 2:27 pm

≫ Next: Exit Opps out of Wells Fargo Lending Team

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When calculating FFO, why is it convention to exclude changes in working capital?

Exit Opps out of Wells Fargo Lending Team

October 31, 2013, 10:20 am

≫ Next: Useful Applications and Tools

≪ Previous: FFO question

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How common is it for an analyst within Wells balance sheet lending team (construction loans, senior loans, bridge loans) to jump to an owner/operator or REPE in NY after working 1-3 years?

Thanks in advance!