Real Estate Financial Modeling

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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated May 2023)

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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All-in-One (Ai1) Model for Underwriting Development and Acquisitions (Updated May 2023)

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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A.CRE Apartment Development Model (Updated May 2023)

For several years now, our library of real estate models has been lacking a robust ground-up apartment development model. Sure, our All-in-One (Ai1) model has the capability to model multifamily development deals, but it's more a generalist…
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Condominium Development Model (Updated April 2023)

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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Industrial Real Estate Development Model (Updated Mar 2023)

Allow me to share my Industrial Development Model in Excel. Over the past year, 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 the…
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Office Real Estate Development Model (Updated Mar 2023)

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…
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Retail Real Estate Development Model (Updated Mar 2023)

I'm excited to share my Retail 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…
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A.CRE Self Storage Development Model (Updated Dec 2022)

We've received numerous requests over the years for a Self Storage Development Model in Excel. With strong investment and development activity in this niche property type, I recognize a self storage model on A.CRE is long overdue. But with so…
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Residential Land Development Pro Forma (Updated Dec 2022)

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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Hotel Development Model (Updated November 2022)

Excited to share the new A.CRE Hotel Development Model with everyone. As evidenced by the numerous requests we have gotten for this over the years, this model is long overdue so I'm quite happy to get it out there finally. At the core, the…
Sources and Uses
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Construction Draw and Interest Calculation Model (Updated Sep 2022)

I originally uploaded this equity/construction loan draw and interest calculation tool to our library of real estate financial analysis models in 2016. Over the years, I've continued to update it as suggestions, comments, and requests…
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Real Estate Development Tracker (UPDATED MAY 2022)

One of the many challenges of both analyzing real estate development deals and managing development projects is understanding and tracking the numerous differing but intertwining work streams. The more a development team takes the time…
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Development Draw Schedule – Visually Customize Each Line Item (UPDATED APR 2022)

Working a lot with development draw schedules, I have always been looking for a catch all solution as to how one could easily model all the unique ways cash actually flows over time during the process. The norm for many is to model cash flows…
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Construction Draw Schedule: Accounting For True LTC (Updated Apr 2022)

When lenders provide debt for a development project, they lend based on a Loan-to-Cost ratio (LTC), which is simply the percent of the total budget the lender will agree to lend to the borrower. So, if a project costs $10MM, and a lender loans…
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Tutorials for the A.CRE Apartment Development Model

As promised, I'm following up the release of the A.CRE Apartment Development model with a series of walk-throughs and tutorials to help you better understand the various elements of the model. The tutorials start with the basics - a guide to…
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Land Development Model – Multi-Scenario (Updated Jan 2022)

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.…