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 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) […]
I originally built this single tenant net lease (NNN) valuation Excel model back in 2016. Based on some feedback from a few of our readers, I’ve since made quite a few updates (see v2.0 updates video below). This model is an attempt to re-think how the industry underwrites single-tenant net lease investments. The model is […]
In my experience, using the SUMPRODUCT function in Excel to calculate weighted average is one of the most oft-used Excel techniques in real estate financial modeling. I learned this technique on day one of my first real estate internship and I continue to use it at least once a week to this day. So in […]
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 and a Library of Supplementary Tools section, […]
Over the years, Michael and I have built and shared numerous real estate equity waterfall models, all multi-tiered and most with internal rate of return (IRR) hurdles. And as our readers have downloaded those models, I’ve received dozens of requests for an equity waterfall model with a simpler partnership structure. This model seeks to be an […]
Creating intuitive, user-friendly, visually appealing models is one aspect of mastering real estate financial modeling. One way to make your models easy for people to use and more attractive in general is to use dynamic, theme-appropriate, in-cell buttons (ie. a button that changes text, font, background based on certain logic) and toggles (i.e. buttons to […]
I’m regularly asked to expand my single family home construction pro forma to analyze the construction of more than one home. I’ve contemplated adding that functionality to the model, but it is such a custom task that no template could really cover even a majority of multi-home scenarios. So instead, I thought I’d show you […]
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 […]
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 […]
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 […]
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 […]
I’ve fielded a handful of Cash-on-Cash (CoC) return questions of late. So, I thought it would be worthwhile to write a post on what the Cash-on-Cash return metric tells me about a potential real estate investment. This article is a primer, if you will, on when this metric is helpful to use in your analysis […]
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 […]