Real Estate Financial Modeling

All | Argus| Excel Models | Excel Tips | Stochastic Modeling
Click to Browse the Library of Excel Models

real estate financial modeling courses

, , ,

Real Estate Financial Modeling Accelerator (Updated June 2025)

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…
, , , ,

Industrial Real Estate Development Model (Updated July 2025)

Allow me to share my Industrial Development Model in Excel. Over the past few years, I've been working to add more specialty real estate models to our library. While our All-in-One model certainly has its place, oftentimes really digging into…
, , ,

Real Estate Equity Waterfall Model – IRR and Equity Multiple Hurdles (Updated July 2025)

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…
, , , , ,

Ground Lease Valuation Model (Updated July 2025)

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…
, , , , ,

Residential Land Development Pro Forma (Updated July 2025)

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…
, , , , , ,

Mixed-Use Development Model: Condo and Retail (Updated July 2025)

In this post, I walk you through the A.CRE Mixed Use Development Model for Condo and Retail projects. The model is basically a reworked and expanded version of the Condo Development Model, so if you are familiar with that, this should feel and…
, , , , , , , , , , , ,

All-in-One (Ai1) Model for Underwriting Development and Acquisitions (Updated July 2025)

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…
, , , ,

Single Family Home Construction Pro Forma for Home Builders (Updated July 2025)

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,…
, , , , ,

A.CRE Value-Add Apartment Acquisition Model (Updated Jun 2025)

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…
, , , ,

Condominium Development Model (Updated Jun 2025)

After posting the construction draw module that demonstrates how to calculate the true LTC of a development loan, I decided that since we have yet to publish a condo development model, to build upon that module to create one. This condominium…
, , , ,

Office Real Estate Development Model (Updated Jun 2025)

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…
, , , , ,

Land Development Model – Multi-Scenario (Updated Jun 2025)

Over the years, we've shared eight development-focused real estate financial models and numerous development-specific tools to the A.CRE Library of Excel Models. Nevertheless, there's been a hole in the development offerings in our library.…
, , ,

Data Center Development Model

As the built environment evolves to meet the demands of an increasingly digital world, data centers have emerged as one of the most sophisticated and capital-intensive asset classes in commercial real estate. What was once considered a niche…
, , , , , , ,

Watch Me Build a Residential Land Development Model (Updated June 2025)

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,…
, , , ,

A.CRE Build-to-Rent (BTR) Development Model (Updated May 2025)

Build-to-rent (BTR) has become more and more common in CRE and now accounts for a meaningful share of development. In the past, we've recommended A.CRE readers use our Apartment Development Model for BTR analysis. However, as we've received…
, , , , , , , , ,

Single Tenant NNN Lease Valuation Model (Updated May 2025)

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…