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 […]
The topic of ground leases has come up several times in the past few weeks. Numerous A.CRE readers have emailed to ask for a purpose-built Ground Lease Valuation Model. And I’m in the process of creating an Advanced Concepts Module for our real estate financial modeling Accelerator program covering the mechanics of modeling ground leases. […]
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 […]
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 […]
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 […]
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 […]
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’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 […]
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 […]
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 […]
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 […]
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 […]
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. […]
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 […]
In the world of AI, the big three – OpenAI’s Custom GPTs, Anthropic’s Claude Projects, and Google’s Gemini Gems – are quick-and-easy ways to interact with large language models (LLMs). Whether you’re a real estate professional looking to build a custom assistant or a founder aiming to scale operations through automation, these tools offer a […]