Entries by Spencer Burton

, , , , , , ,

Using Boolean Logic to Model Multiple Generations of Tenant Improvements

Arguably the most powerful, and least appreciated and understood, functionality in Excel is its use of boolean logic. Or in other words, the use of TRUE and FALSE binary logic. This form of logic can be used to dramatically simplify formulas in real estate financial modeling, ease auditing work, and speed up the modeling process. […]

, , , , ,

Apartment Acquisition Model with Monte Carlo Simulation Module (Updated Jan 2021)

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 […]

, , ,

Using Excel’s New LAMBDA Feature to Create Custom Functions for Real Estate Financial Modeling

In December 2020, Excel rolled out a new featured called LAMBDA as part of the Office Insiders (i.e. beta) program. This feature allows the user to create custom functions, which can greatly reduce duplicative formulas and reduce errors. Well over the holiday break, I took sometime to learn how to use this feature. And I’m […]

, , , ,

Watch Me Build – Capital Stack with Mezzanine Debt

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 […]

, , , , , , , , ,

Watch Me Build a Tenant Rollover Analysis Model

The feedback has been positive on the ‘Watch Me Build a Multifamily Model’ video I recorded earlier this year. So I thought I’d follow that up with another. This time I build a Real Estate Tenant Rollover Analysis Model and talk through the methodology, keyboard shortcuts, and formulas I use as I build the model. […]