Nuevo Contenido en Español (Actualizado Julio 2025)
Ver y leer nuevo contenido en español. Este contenido ha sido creado por el equipo A.CRE para profesionales en la inversion inmobiliaria. Tutoriales, modelos financieros, educación, y mucho más.
Entries by Spencer Burton
Can AI Act Like a Negotiator, a Partner, or a Shark? A New Study Says Yes.
A new paper from researchers at the University of Oxford and Kings College London suggests that large language models like GPT-4, Claude, and Gemini don’t just spit out language, but rather develop strategic personalities. One plays nice. One retaliates. One forgives. None were explicitly trained to do this. So, what happens when you start relying […]
Software 3.0 and What it Means for Real Estate Professionals
A couple of months ago, I shared a blog post detailing how I built a DCF Web App using an AI coding tool. What once would have required either deep technical skills or a developer’s help took less than 10 minutes to build, with ChatGPT and Lovable doing most of the heavy lifting. That experience […]
AI Tools for Commercial Real Estate (Summer 2025 Edition)
If you haven’t noticed, we’ve been exploring use cases, training, and tools related to AI in commercial real estate a lot lately! The reason is that Artificial intelligence (AI) is poised to revolutionize the commercial real estate industry by transforming the way acquisitions, development, management, advisory, and marketing teams in the industry operate. AI tools […]
All-in-One (Ai1) Model for Underwriting Development and Acquisitions (Updated July 2025)
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) […]
Single Family Home Construction Pro Forma for Home Builders (Updated July 2025)
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 […]
Real Estate Financial Modeling Accelerator (Updated June 2025)
Before launching the Accelerator program, Michael and I received countless emails requesting a more structured, step-by-step real estate financial modeling training program. Over the years, we’ve covered hundreds of real estate modeling topics in our blog, published hours of video, and shared 70+ real estate Excel models in our Library. Nonetheless, no matter how many posts […]
Deep Dive: One Company’s Bold Bet on Solving the Housing Crisis
Back in 2022, we sat down with Aleks Gampel for an episode of the A.CRE Audio Series to talk about an audacious new venture he was co-founding called Cuby Technologies. A long-time follower of A.CRE, Aleks laid out a bold vision for a world where we could build cities in days instead of years. You […]
A.CRE Value-Add Apartment Acquisition Model (Updated Jun 2025)
We’ve shared a handful of apartment models over the years. Several of those are capable of analyzing apartment acquisitions 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 apartment model; this one built […]
Office Real Estate Development Model (Updated Jun 2025)
I’m excited to share my Office Development Model in Excel. This pro forma analysis tool comes as I’ve continued to build and share specialty real estate models, tailor-made for specific investment scenarios and property types. This model is an adaptation of my Industrial Development Model. It’s specifically built to analyze both merchant-build and build-to-core, ground-up […]
Land Development Model – Multi-Scenario (Updated Jun 2025)
Over the years, we’ve shared eight development-focused real estate financial models and numerous development-specific tools to the A.CRE Library of Excel Models. Nevertheless, there’s been a hole in the development offerings in our library. The library has been missing a model to analyze general land development scenarios, such as master-planned residential and commercial developer opportunities […]
Why I Chose a Masters in Real Estate over an MBA (Updated 2025)
Going back to graduate school is a huge commitment. First there’s the admissions process, which means spending hours and hours studying for the GMAT or GRE, filling out lengthy admissions applications, writing dozens of mindless essays, preparing for and doing informal and formal admissions interviews, and enduring the stress of not knowing if you’re in, or […]
From AI Analog to AI Native: My View on Where CRE Work Is Going
I thought I’d share a few thoughts that came to mind as Michael and Sam were in town recording the latest season of the A.CRE Audio Series. We spent a lot of time talking about AI – what’s real and what’s not, where it might take the industry, and how it’s already reshaping our work. […]
Watch Me Build a Residential Land Development Model (Updated June 2025)
Over the years, we’ve created a sizable library of Watch Me Build videos covering Excel models for various real estate investment and property types. However, we’ve yet to create a Watch Me Build involving for-sale product. So this weekend, I thought I’d sit down and record myself building a residential land development model. The exercise […]
Real Estate Equity Waterfall Model – IRR and Equity Multiple Hurdles (Updated June 2025)
Over the years, this real estate equity waterfall with annual periods and IRR or Equity Multiple hurdles has been one of the most popular models in our library of real estate Excel models. It’s been downloaded thousands of times and we’ve received dozens of suggestions for how to improve the model. As a result, we […]