One Excel feature real estate financial modeling professionals use often is the data validation list. Where data validation is a method of limiting the possible inputs of a cell, the data validation list limits those inputs to a pre-defined list created by the financial modeling professional. In real estate financial modeling, these lists are essential […]
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 […]
As promised, I’m following up the release of the A.CRE Value-Add Apartment Acquisition 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 […]
A question came up recently in the A.CRE Accelerator’s real estate waterfall modeling course regarding how to model GP 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 estate equity waterfall model […]
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) Underwriting […]
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. Over the years, we’ve covered hundreds of real estate modeling topics in our blog; and the 50+ real estate Excel models we’ve shared publicly contain virtually everything you need to know about modeling to […]
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 […]
Most of the real estate financial models we’ve shared over the years are dynamic to analysis period. Meaning, we’ve included an input to adjust the length of the analysis period, and the model will adjust the results accordingly. This is a helpful feature to sensitive returns relative to exit, but presents some complications from a […]
Our library of real estate Excel models has a variety of decent apartment models, including our All-in-One model and our Apartment Development Model – both robust models in their own right. However, if you’re looking for a straight multifamily (apartment) acquisition model, and don’t want all of the unnecessary components of the All-in-One (ie. office, retail, industrial modules), […]
The Cornell Baker Program in Real Estate is an immersive, two-year Ivy league graduate real estate education with the rigor, structure, and academic profile of an MBA while focused entirely on Real Estate. Located at Cornell University’s picturesque campus in Ithaca, NY, the program is jointly administered by the College of Architecture, Art, and Planning and the School of Hotel […]
In course 3 of our A.CRE Accelerator, we use a case study that revolves around a hold-sell (i.e. hold vs sell) analysis scenario to teach the anatomy of the real estate DCF. In that scenario, the student is an asset manager working for an open-end core fund. The fund is trying to determine whether it […]
As many of you know, I started my career in residential land development first as a broker and later as a principal. During that time I built my fair share of residential land development Excel pro formas, modeling returns and forecasting cash flows for my clients and investor partners. I’ve since transitioned into the institutional side […]
We have a few stochastic modeling tools for real estate on the website, but none as robust as this Apartment Acquisition Model with Monte Carlo Simulation Module. I originally built the model in 2016 by taking my standard apartment acquisition model, and assigning probabilities to various assumptions. I then added a Monte Carlo Simulation module […]
I was recently asked the question whether it’s possible to add more other income or operating expense line items to the MF-OpSt or ORI-OpSt worksheets in my All-in-One Model for Underwriting Acquisitions and Development. Short answer is: out of the box this is not supported. Or in other words, there’s not a button you can […]
The Columbia University Master of Science of Real Estate Development (MS.RED) program is an intensive, three term (one year) graduate program in real estate offered through Columbia University’s highly ranked Graduate School of Architecture, Planning, and Preservation. The program leverages its location in one of the great cities of the world, New York City, to teach its […]