Entries by Spencer Burton

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All-in-One Walkthrough #2 – Office, Retail, Industrial Rent Roll Tab

In an effort to provide greater instruction on how to use our All-in-One Underwriting Tool for Real Estate Development and Acquisition, we’re developing a series of walkthrough videos and posts on the methodology behind the various components of the model. Our hope is that if you are empowered with the how, you’ll be more willing/able to […]

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All-in-One Underwriting Model for Real Estate Development and Acquisition (Updated 3.17.17)

As many of you recall, about a year and a half ago I set out to build an Excel alternative to the widely-used (and now discontinued) ARGUS DCF. With career moves and a lot of other A.CRE-related side projects, this undertaking has been slow going. Alas, today I’ve decided to release the first beta-version of the […]

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Graduate Real Estate Series: NYU Schack Institute of Real Estate’s MSRE and MSRED Programs

The Schack Institute of Real Estate at New York University offers a flexible, 42-credit graduate real estate education in various real estate disciplines including finance and development. Located in the epicenter of global real estate, New York City, the program leverages its relatively lengthy history, expansive local network, and varying curriculum options to offer a world-class real estate education. […]

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Tenant Sales and Occupancy Cost in Retail Underwriting

When underwriting a retail investment, rollover risk is an incredibly important consideration. You, as a prospective debt or equity investor in the property, need to understand how secure the cash flows you’re buying are; or in other words, how likely each tenant is to renew their lease at the end of their lease term. This is […]

Requests for Consulting, Training, and Private Tutoring

We regularly receive requests from our readers for consulting services, real estate financial modeling training, private tutoring, among others. And while we’d love to be able to offer all of these services to our readers, with families, full-time real estate careers, and the various A.CRE projects we’re working on, our time is extremely scarce. Where […]

Version Notes: All-in-One Underwriting Model

Version notes for the All-in-One Underwriting Model for Real Estate Development and Acquisition are found here as well as in the ‘Version’ tab of the Excel model. Download the Model Version 0.3.1 (March 11, 2017) Added version notes section Misc. formatting fixes Added link to model documentation online Added data validation to construction length on Budget tab […]