Real Estate Financial Modeling

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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated Jan 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…
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Land Development Model – Multi-Scenario (Updated Apr 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.…
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Residential Land Development Pro Forma (Updated Apr 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…
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Short-Term Rental Acquisition Model

In today’s real estate landscape, short-term rentals (STRs) stand out as one of the most dynamic and potentially high-yield asset classes. From compact urban units serving business travelers to luxury vacation homes attracting high-net-worth…
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Multifamily (Apartment) Acquisition Model (Updated Apr 2025)

Our library of real estate Excel models has a variety of decent apartment models, including our All-in-One model and our Apartment Development Model - both robust models in their own right. However, if you're looking for a straight multifamily…
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A.CRE Build-to-Rent (BTR) Development Model (Updated Mar 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…
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A.CRE Value-Add Apartment Acquisition Model (Updated Mar 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…
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Ground Lease Valuation Model (Updated Mar 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…
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Tutorial on How to Model Irregular Growth Rates in Real Estate

When building a real estate financial model, managing income and expense growth is rarely as simple as applying a fixed growth rate year over year. In real estate investment analysis, growth assumptions need to be flexible, dynamic, and reflective…
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Supercharge Excel with the ‘Excel 4 CRE’ Add-In – Now with AI (Updated Mar 2025)

Today, we're thrilled to share with the A.CRE community a new timesaving (and free) Excel tool: the 'Excel 4 CRE' Add-in! Over the past few years, we at A.CRE (together with our new favorite companion, ChatGPT!) have been developing and sharing…
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Single Family Home Construction Pro Forma for Home Builders (Updated Feb 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,…
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All-in-One (Ai1) Model for Underwriting Development and Acquisitions (Updated Feb 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…
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Mixed-Use Development Model: Condo and Retail (Updated February 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…
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Condominium Development Model (Updated Jan 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…
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Real Estate Asset Management Model

Many of you have run into this scenario: you build out a detailed acquisitions model at purchase. Everything looks great—market rents, lease-up timing, exit cap, all in line. The acquisitions team is convinced this is going to be a home run.…
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Excel Pro Forma for Flipping Houses (Updated Jan 2025)

Before moving to the principal side of the business, I began my career as a self-described real estate investment specialist, largely working as a land broker but dabbling in other areas including the popular "single-family flip" space. In all…