In a few days, I am excited to soon be starting my internship with Carysfort Capital, a real estate investment firm located in Dublin, Ireland. My internship will be focused on analyzing properties and doing a cost-benefit analysis to help in the decision-making process in terms of which properties the firm should acquire or develop in order to bring higher rates of return to investors.
This will be the beginning of my journey into the investment management industry. The investment management industry consists of the acquiring and selling of bonds, stocks, and other hard assets in order to make higher returns on investment for the customers or the company. Carysfort Capital specializes in residential real estate in order to bring returns to customers. The residential real estate industry requires connecting with developers as well as possible investors in order to create properties such as houses and apartments that are desirable for individuals to either rent or purchase to produce profits on the behalf of the investors. Being in both the investment and real estate industry, this brings in a large number of competitors as on the investment side, Carysfort Capital has to compete with large financial institutions who deal with assets such as stocks and mutual funds as customers are looking for products with low risk and high reward. On the real estate industry side, Carysfort Capital is not only competing with other companies to acquire the property and develop but also individual people as well who may want to own property for purposes other than residential such as commercial or industrial.
The strengths that are desirable in the investment management and real estate industry are analytics skills, technical skills, knowing your target market, being able to communicate effectively, and the ability to think critically. Analytic skills are desirable as it will help to compare various products or options to determine which has the optimum balance of potential risk and reward that is desirable for the firm or the customer. By using analytic skills to dig into the deeper details, more informed decisions are made on the future earnings the asset can bring in. A few technical skills are desirable as well for the investment management and real estate industries. Being able to utilize excel to construct and automate complex models to solve problems or compare assets can save a lot of time in the decision-making process as well as create more accurate answers in a fast amount of time. Programming in applications such as R Studio, Python, and Tableau have become desirable as well. Knowing your target market is a strength as different investors have different preferences in terms of the risk, they are comfortable taking and the reward they are seeking to achieve. The ability to communicate effectively is very important in not only the investment management industry but in business in general. Being able to communicate effectively allows for easier coordination between different entities in the real estate process, such as between the developers, suppliers, investors, and the firm that facilitates the transactions such as banks. The quicker all those involved can become coordinated, the smoother the process will go for everyone involved, which can lead to better connections which may result in more profitable deals in the future. Lastly, the ability to think critically helps to find solutions by approaching problems at various angles others don’t think to utilize. In an industry such as investment management that is so competitive, success is driven by out of the box thinking that may deviate from looking at alternatives using traditional tools as opposed to testing new and different methods and equations to pinpoint the best option.
There are a couple of competencies in the real estate and investment industry that is necessary for Dublin, Ireland specifically. One of these competencies is the ability to understand the regulations that are in place concerning real estate and investment in Dublin, as it is vastly different than the United States regulations. By understanding these regulations, decisions can be made that are in line with the regulatory standards of that location which saves a massive amount of legal headache if certain regulations are overlooked. Another competency that would be necessary for the real estate and investment management industries in Ireland is being to understand the various differences in business etiquette between Dublin and the United States. Understanding the correct business etiquette of the host country will ensure that communication-related mistakes aren’t made that could possibly offend other business partners, possibly leading to missed deals and lost connections.