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Real Estate Financial Modeling Accelerator (Updated June 2024)

Prior to launching the Accelerator program, Michael and I 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…
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Ask Me Anything with A.CRE (Next Host – Albert Cruz)

We are thrilled to announce an upcoming A.CRE AMA session featuring our special guest, Albert C., founder of Al-CC Consultancy and Team Lead of the Toigo Real Estate Intensive. Albert is a seasoned leader with over 15 years of experience in…
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List of A.CRE Accelerator Graduates (Updated June 2024)

This certifies that the following individuals have successfully completed the 17-course, A.CRE real estate financial modeling Accelerator. Having shown a proficiency in all aspects of real estate financial modeling and having demonstrated an…
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Nuevo Contenido en Español (Actualizado Junio 2024)

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.
IRR and XIRR are different
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Why Your IRR and XIRR are Different (Updated June 2024)

This post was inspired by a question on our real estate financial modeling Accelerator forum. Additionally, Spencer and I frequently get emails asking about this very issue, which is 'why the IRR (internal rate of return) and XIRR (extended…
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A.CRE 101: How to Use the Income Capitalization Approach to Value Income-Producing Property (Updated May 2024)

In commercial real estate, there are a few generally accepted methods for appraising (or valuing) real property. The three most common are the Cost Approach, the Sales Comparison Method, and the Income Approach. The Income Approach includes…
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Quick Thoughts on Evaluating Real Estate Investments Without Opening Excel

In our industry (commercial real estate), the ability to quickly evaluate investment opportunities is crucial for staying competitive. I know I've found in my professional career, that having a clear framework for evaluating - and then either…
after-tax cash flow analysis
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Forecasting After-Tax Cash Flow in Real Estate Analysis (Updated May 2024)

When modeling real estate investments, industry practice is generally to stop at before-tax cash flow, rather than after-tax cash flow. And this makes sense in most instances. No two owners of real estate have the exact same tax situation and…
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How to Hire Your Next Commercial Real Estate Attorney

Choosing the right commercial real estate attorney is crucial for the success of any real estate transaction. The right attorney can help you navigate the complexities of real estate law, ensure compliance, and protect your interests. Attorneys…
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Using Geometric Mean (or CAGR) as an Alternative to IRR (Updated May 2024)

The internal rate of return (IRR) and compound annual growth rate (CAGR) are both metrics used to analyze investment returns. They're both commonly used in commercial real estate financial modeling, but what's the difference? When should you…
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Single Tenant NNN Lease Valuation Model (Updated May 2024)

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…
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AI Tools for Commercial Real Estate (May 2024 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…
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Entry-Level Position in Real Estate: Breaking Through the No Experience Barrier

Recruiting for an entry-level position in real estate can be daunting, particularly for those entering this highly competitive field where experience is often prized above all. How does one 'break through' when traditional pathways seem blocked…
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Watch Me Solve a REPE Technical Interview Modeling Test (Updated May 2024)

What better way to spend some free time over the Thanksgiving holiday, than to record myself completing a real estate private equity technical interview exercise! While I've offered help with the real estate technical interview in the past,…
iming of Preferred Return vs Return of Capital
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Timing of Preferred Return vs Return of Capital in an Equity Waterfall with IRR Hurdles (Updated May 2024)

Recently, we had an A.CRE reader ask us about the mechanics of Preferred Return distributions in our equity waterfall models with IRR hurdles. Specifically, he questioned the timing of when and how Preferred Return vs Return of Capital were…