Conversation on Breaking into REPE, Part Two

This is the second part of a conversation I had acting as a real estate private equity guide to an interested student. I figured you guys might find it helpful in addition to the real estate private equity model I generally teach on my website. 

Student: Thank you for the tips. I've glanced at it but haven't looked at your website in depth yet. A couple things I want to touch on. When you say "Recruit" do you mean apply? Secondly, where can I start learning about the industry more? I found resources like ULI helpful, but is that it? Such as a REIT Asset Manager? Is it better to get into a giant megaund? Lastly, is the CFA helpful? Have you ever seen it in the industry? Thank you, again. I'm starting to read through all your posts, wow, there is so much value here. I think you should charge $ on your reddit comments. 

Lev: Let me break out my responses:

1. By recruit I mean apply, network, call, anything toward getting a job
2. To learn about REPE, look up the PERE top 100. Then look at the deals those firms have done recently and read research on why they were interesting bets. Then just follow whatever news seems interesting. End of the day, you’re trying to figure out ways to make smart bets
3. Megafund isn’t necessarily better, in your position I’d take any REPE job you get. After just a few years experience even at a tiny shop you can get hired pretty much anywhere if you’re good
4. CFA helpful but I’d say it is like sprinkles on an ice cream sundae. Wont make or break it but nice to have
5. Haha, I charge money for my guides & downloads. But happy to take as much as people want to give.

Student: This is great thank you so much...do you talk about any deals in your blog? 

Lev: Not much no. I’m more focused on building real estate private equity guide and teaching how to build real estate private equity models.

Student: Oh awesome, great. If you recommend any of your services that are important in my situation, I'll really consider buying. Last thing, you said I may need to take an intermediate step, at a broker or asset manager. All things considered: my CFA, modeling skills, good market and lingo understanding...Do I need that extra step that may take off 1-2 years in my career trajectory? Ok, that's enough questions. Thanks again. I'll be sure to keep updated on your posts here and look more into your services. 

Lev: I think my courses and technical interview guide are the best thing you can buy. I made them for people in your exact situation and have spent years of late nights after work building them. And I’ll refund you or anyone if you buy and don’t like — though I’ve never had to do so and have sold to hundreds of people at this point! Also, if I were you, I’d skip the intermediate step and just go into a smaller local REPE and work from there.