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REPE Interview Prep: Efficient Markets, Opportunity Zones, and Same-Store Reporting

Introduction The interview process is more than just building real estate private equity models. You have to learn to think and speak like a true megafund investor. In addition to providing the best real estate private equity course on the market, we have created this series to help you practice the most common interview questions. […]

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Real Estate Private Equity Interview Prep: The Capital Stack

The following real estate private equity interview questions should be practiced deliberately as if you were answering in-person in front of a real investor. The focus of these questions is on the capital stack and how it relates to net asset value, seniority, and return expectations. These are basic concepts to master before your next

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Real Estate Private Equity M&A Investors: What They Do, What They Buy, And How they Choose to Buy It

Introduction This article follows an interview format to help you develop your real estate private equity skills. Assume you’ve been asked each question during a live interview. Practice until you can answer from memory, without referencing our pre-written responses below. We challenge you to rephrase your responses — we’re always here in the forums if

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REPE Interview Prep: Fund-Level Debt, Tenant Credit, and REIT vs. REPE

Introduction Real estate private equity firms expect you to walk into your first interview with substantial industry knowledge. Yet how could a complete outsider ever know what to expect from such a technical ordeal? Enter Leveraged Breakdowns, the premier resource to prepare you for real estate private equity jobs. In this article, you should read

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REPE Interview Prep: Debt Seniority, CMBS, and Recourse

Introduction Leveraged Breakdowns teaches real estate private equity for beginners. That’s why we provide materials such as our flagship course Breaking Down REPE and even our free real estate private equity case study. This particular series focuses on the types of questions you might face during a real estate private equity interview. Today’s lesson focuses

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REPE Interview Prep: Waterfalls and Sensitivities

This series serves as a real estate private equity guide for live interviews. The response to each question is phrased exactly how we would recommend you respond during a live interview. After reading this article, you will have a high-level understanding of two concepts that are likely to appear on any real estate private equity

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REPE Interview Prep: Real Estate Sector Fundamentals

Real estate private equity firms will expect you to understand the risk profiles of each major real estate sector. Fortunately, the differences between each sector are pretty intuitive. But can you explain these differences in the investor’s vernacular? This article helps you take what you likely already understand, such as hotels being the riskiest asset

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REPE Interview Prep: Leasing Fundamentals

Leases are fundamental to real estate. They drive revenue and greatly determine private equity real estate returns. Yet how much do you understand the basics of each type of contract? After reading this article, you will be able to: (i) quickly differentiate between triple-net, double-net, single-net, and full-service leases, (ii) explain the risks and benefits

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REPE Interview Prep: Accounting and Financial Statements, Part Two

Part one of this series covered the basics of accounting: (i) the three most common financial statements, (ii) major line items on each financial statement, and (iii) how the three statements flow together. This article extends those lessons to focus on: (i) the nuances of the direct and indirect method of the cash flow statement,

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REPE Interview Prep: Accounting and Financial Statements, Part One

Accounting is the language of finance. Though you do not need an advanced CPA skill set, you must be familiar with GAAP and IFRS accounting. Certain real estate investment case studies may require you to tease out crucial information from financial statements. If you do not understand the information below, you are not prepared to

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