As many of you recall, in 2015 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, in 2016 I released the first beta-version of the model – my All-in-One (Ai1) […]
Since starting A.CRE, Michael and I have fielded email after email requesting a more structured real estate financial modeling training program on the site. Important Note: We’re updating and adding to the Accelerator every week. Since launch, we’ve made hundreds of content updates, added an Advanced Concepts course, a Library of Supplementary Tools section, a […]
I’m often asked to share models centered around residential development and home building. This is an area of real estate I’m completely comfortable in, since I spent the first 10 years of my career in new residential development. Not surprisingly, I’ve assembled a decent size library of Excel pro formas for land developers and home […]
When I decided to share my real estate equity waterfall model in Excel, I never imagined it would be as popular as it has. The model has been downloaded thousands times and many of you have written to extend your thanks for sharing. It is gratifying to know that the model has been put to […]
For several years now, our library of real estate models has been lacking a robust ground-up apartment development model. Sure, our All-in-One (Ai1) model has the capability to model multifamily development deals, but it’s more a generalist tool than a specialized one. As a result, I’ve found it wanting when used to model developments. Update: In version […]
As promised, I’m following up the release of the A.CRE Apartment Development model with a series of walk-throughs and tutorials to help you better understand the various elements of the model. The tutorials start with the basics – a guide to getting started, and then get progressively more advanced. If you’ve already visited the model’s […]
Allow me to share my Industrial Development Model in Excel. Over the past year, I’ve been working to add more specialty real estate models to our library. While our All-in-One model certainly has its place, oftentimes really digging into the underwriting of a deal takes a hyper-focused tool. This model fits the definition of a […]
As we continue to build out our A.CRE 101 series and our Glossary of Commercial Real Estate terms, we’ve started to supplement these initiatives with short (<30 second) video clips on how to do various CRE calculations and modeling tasks in Excel. You can think of these 30 second tutorials as bite-sized lessons in real […]
We’ve shared a handful of apartment models over the years. Several of those are capable of analyzing apartment acquisitions (e.g. All-in-One, Apartment Valuation Model), but none was built for the express purpose of modeling value-add apartment deals. As a result, each has its limitations in value-add scenarios. So today, I’m excited to share a new […]
A few years back, on a sleepy Saturday afternoon while my kids were busy eating Halloween candy, I decided to create a simple real estate acquisition model in Excel for office, retail, and industrial deals. Since then, I’ve made various updates, including error fixes and functional improvements. The model calculates returns at the property and […]
Several times in the last month, I’ve been asked to tackle an interesting real estate financial modeling challenge – pare actual construction draw cash flows with s-curve cash flow forecasts to create an Actuals + Forecast Construction Draw schedule. The real challenge in this exercise, is to have the actual construction draws transition into the […]
We’ve received numerous requests over the years for a Self Storage Development Model in Excel. With strong investment and development activity in this niche property type, I recognize a self storage model on A.CRE is long overdue. But with so many other projects on our plates and limited experience with self storage, we just hadn’t […]
One of the more difficult aspects of modeling a real estate development is figuring out how to handle equity and debt cash flows. This becomes all the more difficult when a second tranche of debt is introduced. In this Watch Me Build video, I turn on my screen recorder and talk through modeling a capital […]
Virtually every real estate firm in the world uses Microsoft Excel to analyze real estate. It’s the industry standard and if you work in the real estate you better know how to model real estate in Excel. So regardless of whether you love Excel or hate it, the hard truth is that this fact isn’t […]
A question came up recently in the A.CRE Accelerator’s real estate waterfall modeling course regarding how to model GP Catch Up (i.e. Sponsor Catch Up) and LP Clawback provisions. I put together a quick video tutorial in response to that question, and in doing so I realized I had never shared to A.CRE a real […]