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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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A.CRE 101: How to Build a 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 create…
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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…
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Construction Draw Schedule: Accounting For True LTC

Mitigating A Common and Potentially Costly Error During Development Underwriting 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…
a shopping center with robust sales and low occupancy cost
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Tenant Sales and Occupancy Cost in Retail Underwriting

When underwriting a retail investment, rollover risk is an incredibly important consideration. You, as a prospective debt or equity investor in the property, need to understand how secure the cash flows you're buying are; or in other words,…
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Watch Me Build a Tenant Rollover Analysis Model

The feedback has been positive on the ‘Watch Me Build a Multifamily Model’ video I recorded earlier this year. So I thought I’d follow that up with another. This time I build a Real Estate Tenant Rollover Analysis Model and talk through…
a large commercial real estate building
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Refinance Risk Analysis Tool in Excel

Simply put, equity real estate investors spend their time modeling the upside while their debt partners spend their time modeling the down side. Equity investors generally focus on an investment's internal rate of return, cash-on-cash return,…
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Physical Occupancy Calculation Model for Real Estate

As many of you know, I'm in the midst of moving my family from Milwaukee to Dallas, and quite frankly I'm getting sick of eating out and sleeping in hotel rooms. So what better way to unwind from hours of whining kids and tiresome travel, than…