Behavioral Questions Walk me through a real estate DCF. Why real estate over traditional industry groups? Describe a time you worked under tight deadlines—how did you prioritize? Tell me about a time you solved a difficult analytical problem. What’s the most complex financial model you’ve built? How do you handle ambiguity when assumptions are unclear? Technical Walk me through how you value a real estate asset. Explain Cap Rate—what drives it and why it matters. How do you project NOI for a property? Difference between IRR and Equity Multiple—when does each matter? What are the key components of a real estate pro forma? How would rising interest rates impact REIT valuations? How do you think about leverage in a RE deal? What is stabilized vs. in-place NOI? Walk me through an unlevered vs. levered DCF on a property. How do you analyze a development project vs. an acquisition?