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Real Estate Financial Modeling Accelerator (Updated June 2019)

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 regularly updating and adding to the Accelerator. Since launch,…
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Watch Me Build a Dynamic Mortgage Amortization Table in Excel

There are a few basic, yet fundamental, real estate modeling skills you must master before anyone will take you seriously as a real estate professional. Building a mortgage amortization schedule is one of them.Virtually every model you…
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Watch Me Solve a REPE Technical Interview Modeling Test

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,…
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Through The Entitlement Process: Identifying Risks and Strategies For Mitigation

Investing in and developing an unentitled site, broadly speaking, is one of the riskiest, yet rewarding, endeavors in the commercial real estate industry. The entitlement process, in particular, is fraught with the potential for setbacks and…
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Using the OFFSET Function in Real Estate Financial Modeling

In a previous post, I showed you how to use the OFFSET function to create dynamic lists in Excel. As you become more comfortable using this function in real estate financial modeling, you'll find that it has almost infinite applications when…
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Modeling a Property Tax Abatement in Real Estate

We often field questions around how to model property tax abatements. This is a concept we've addressed in our All-in-One forum and a question around valuing property tax abatements came up recently in our A.CRE Accelerator Advanced Concepts…
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A.CRE 101 - Using Dynamic Data Validation Lists in Real Estate Modeling

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…
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Graduate Real Estate Series: Cornell University's Baker Program in Real Estate

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…
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Deep Dive: Understanding Acquisitions: The Letter of Intent (LOI)

The Letter of Intent - Legal Issues The letter of intent is a critical document that is written up at the beginning of a potential real estate transaction between either a prospective buyer and seller or a prospective tenant and landlord.…
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Graduate Real Estate Series: Columbia University MS.RED (Updated 2.2.2019)

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,…
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A.CRE Hotel Valuation Model in Excel (Updated 01.03.19)

I am excited to introduce our new Hotel Valuation (Acquisition) Model to underwrite both stabilized and value-add hotel opportunities. This hotel pro forma is designed to allow users to do everything from a quick back of the envelope exercise…
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Tutorials For The Hotel Valuation Model (Updated 01.03.19)

Welcome to the A.CRE Hotel Valuation Model's Tutorial Page. On this page you will find all the tutorials for the A.CRE Hotel Valuation model in Excel. There is a lot to learn within this model and over time, I'd like to show you both how to…
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Excel-Based Restaurant Selection Tool for the Overly Indecisive

We're celebrating some much deserved time off from work, and so what better way to spend the time than to make a completely unnecessary (but fun!) Excel model. I call this the indispensable Excel tool for the overly indecisive, and it's basically…
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Hotel Proforma Basics - Hotel Cash Flow Projection

Hotels are a unique asset in the commercial real estate world and are underwritten differently as a result. Probably the most obvious difference is the duration of the 'lease term' of the tenant, which is usually daily to weekly. Another major…