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You’ve heard those words plenty of times when it comes to real estate – whether you’re just casually interested or you fully intend to become the next real estate guru.
And if you overlook the occasional housing crisis or three, you can see why the real estate market is so essential to all sorts of different industries: But there’s surprisingly little information out there about what you actually do in a real estate investment banking group – even though lots of people are interested in the field.
We’re going to fix that with an interview from an analyst who networked his way into real estate IB, coming from a non-target state school.
Today’s interviewee has covered lodging, gaming, and home building, and he can tell you all about properties and REITs as well – so let’s get started and learn how the sector is divided, how valuation works, and what you need to know when interview season begins.
This interview features valuation and financial analysis commentary provided separately by Suleman Iddrissu.
Laying Down the Foundation Q: Okay, let’s get started with your story and how you broke in.
Were you more interested in investment banking, or in real estate? I went to a state school and networked quite a bit with alumni to find my role.
It’s incredibly vital to find someone who can sponsor (similar to mentoring, but more like one step above) your entry into an investment banking team, and from there help to look after your progress in terms of assignments.
And in turn, you, as the mentee, need to perform well to ensure that your superior looks great.
When I found myself on a real estate-related team, I thought about getting a real estate license but that sort of background is not necessary from an entry-level standpoint.