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Real Estate Financial Modeling Accelerator (Updated July 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 updating and adding to the Accelerator every week. Since launch,…
adventures in cre real estate modeler creating cash-on-cash return equity waterfall
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Real Estate Equity Waterfall Model With Cash-on-Cash Return Hurdle (Updated 7.9.2019)

Over the years, Michael and I have built and shared numerous real estate equity waterfall models, all multi-tiered and most with internal rate of return (IRR) hurdles. And as our readers have downloaded those models, I've received dozens of…
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Real Estate Equity Waterfall Model - Monthly Periods (Updated 6.26.2019)

When I decided to share my real estate equity waterfall model in Excel, I never imagined it would be as popular as it has. The model has been downloaded thousands times and many of you have written to extend your thanks for sharing. It is gratifying…
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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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Real Estate Equity Waterfall Model - IRR and Equity Multiple Hurdles (Updated 5.31.2019)

Over the years, my real estate equity waterfall with annual periods and the [glossary_exclude]option[/glossary_exclude] of using either IRR or Equity Multiple Hurdles has been one of the most popular models download at Adventures in CRE. I've…
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Actual + Forecast Construction Draw Schedule with S-Curve

Several times in the last month, I've been asked to tackle an interesting real estate financial modeling challenge - pare actual construction draw cash flows with s-curve cash flow forecasts to create an Actuals + Forecast Construction Draw…
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Real Estate Equity Waterfall Model with Catch Up and Clawback (Updated 4.2.19)

A question came up recently in the A.CRE Accelerator's real estate waterfall modeling course regarding how to model GP Catch Up and LP Clawback provisions. I put together a quick video tutorial in response to that question, and in doing so I…
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3-Tiered Acquisition Debt Module

This is a 3-tiered debt module that will allow the user to add one to three tiers of debt to his or her real estate DCF model. Includes the option to layer in senior debt, secondary debt, and mezzanine debt; calculate interest on either…
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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…
Sources and Uses
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Construction Draw and Interest Calculation Model (Updated 10.9.2018)

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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Watch Me Build: Construction Draw Schedule

The video below and corresponding downloadable templates will walk you through how to build a basic construction draw schedule.Basic Construction Financing & Draw schedules: A Conceptual Overview A standard draw schedule with a basic…
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Development Draw Schedule - Visually Customize Each Line Item

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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Convert Monthly Cash Flows to Quarterly and Annual Cash Flows

Over the past few years, I've been working to build an ARGUS DCF alternative in Excel - or otherwise known here as the A.CRE All-in-One (Ai1) Model. As I've worked on that model, I've been jotting down modeling techniques I use and think would…
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4-Tier Equity Multiple Waterfall - Download and Watch Me Build

Here is a simple, yet very powerful, 4-tier equity multiple waterfall module. This post contains both a completed version of the module ready to plug into a real estate financial model as well as a 'Watch Me Build' template and companion video…
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1031 Exchange - Introduction, Overview, and Analysis Tool

A 1031 Exchange, or Like-kind Exchange, is a strategy in which a real estate investor can defer both capital gains tax and depreciation recapture tax upon the sale of a property and use that money, which has not been taxed, to purchase a like-kind…
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Dynamic Amortization Schedule

This is a dynamic debt amortization module that gives the user the capability to model a loan with an interest only period up front and an amortizing floating rate debt repayment period once the interest only period is over. This module also…