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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated May 2026)

Before launching the Accelerator program, Michael and I received countless emails requesting a more structured, step-by-step real estate financial modeling training program. Over the years, we've covered hundreds of real estate modeling…
Through The Entitlement Process
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Through The Entitlement Process: Identifying Risks and Strategies For Mitigation (Updated Aug 2024)

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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Analyzing Value-Add Investments in Real Estate Using Yield-on-Cost (Updated Aug 2024)

So a question recently came in around why a commercial real estate investor would use the Yield-on-Cost metric to assess a value-add real estate investment. This question came on the heals of several other questions also related to development…
SUMPRODUCT Weighted Average
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Using SUMPRODUCT to Calculate Weighted Average in Real Estate (Updated Aug 2024)

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…
Using the Cash-on-Cash Return in Real Estate Investment Analysis
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Using the Cash-on-Cash Return in Real Estate Investment Analysis (Updated Aug 2024)

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,…
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LinkedIn Job Search 101 for CRE Professionals (Updated Aug 2024)

Our goal with this post is to help you use LinkedIn most effectively in your job search. It's the first post in a series of a LinkedIn 101 networking series to help you get the most out of this resource. Because commercial real estate is such…
UNDERWRITING CAPITAL RESERVES
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The Road To A Stabilized NOI – Underwriting Real Estate Capital Reserves (Case Study – Case Only)

Achieving a stabilized Net Operating Income (NOI) in real estate requires careful planning and sound execution. One element that can cause confusion is when underwriting capital reserves. Should they go above the line (i.e., as an Operating…
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Analyzing a Real Estate Investment from the Perspective of an LP

We received a question from an A.CRE reader this week that I thought warranted a thorough response. The question was, and I paraphrase, "I am an LP looking for models to help vet syndication deals. Do you have any models that can be used to…
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Tips to Nail Your Next Commercial Real Estate Interview (Updated July 2024)

Recently, our team partnered with the Graduate Real Estate Council at Cornell University where we worked with their students in providing mock interviews with Cornell alumni. Our goal in this effort was to help these students at the beginning…
Loan Debt Yield Calculation
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How to Use Debt Yield to Calculate Loan Amount (Updated July 2024)

In our glossary of commercial real estate terms, we recently answered the question: what is debt yield? As a follow up to that entry, I thought I’d expand on the concept of debt yield by showing you how lenders use debt yield to come up with…
Desk for with Computer for IPMT & PPMT Excel Functions
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An Overview Of IPMT and PPMT Excel Functions – Uses And Drawbacks (Model + Case Study)

We recently received an intriguing question in the Q&A section of the A.CRE Real Estate Financial Modeling Accelerator regarding the uses of the IPMT and PPMT Excel functions. As such, I’d like to take the opportunity to discuss it. First…
real estate private equity
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Deep Dive – Sources of Capital: Real Estate Private Equity (Updated July 2024)

Capital for commercial real estate investments is generally sourced from one or more of the following buckets: public equity, public debt, private equity, or private debt. In my experience, few people fully understand these four buckets of capital,…
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Understanding Low-Income Housing Tax Credit (LIHTC) Investments

In this article, we explore Low-Income Housing Tax Credit (LIHTC) investments, a key component in the affordable housing sector. Established to encourage private investment, the LIHTC program offers tax credits to developers for creating and…
Development Spread
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Using Development Spread in Real Estate Analysis (Updated Jun 2024)

Real estate developments carry inherent risks, making them one of the most challenging investment opportunities. However, the potential for profit can justify the risks involved. Have you ever wondered how to assess the profit potential…
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Mastering Return Metrics for Strategic Real Estate Investment Decisions

Return metrics are some of the key components for assessing commercial real estate investments. They give professionals an insight into the potential gains and risks associated with various properties. But which return metrics are most useful…
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Underwriting a Tenant with Private Credit (Updated June 2024)

Recently, we had an Accelerator member ask a question about how to accurately determine a credit rating and spec income discount rate for a private tenant in a single tenant net lease deal. While the scenario specifically involved a medical…