Real Estate Financial Modeling

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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated May 2026)

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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Understanding Stabilization Through The Lens Of Operating Expense Ratio

The term “stabilized” is deeply embedded in the language of real estate. It shows up frequently in financial models, offering memoranda, development strategies, and underwriting assumptions. So frequently, in fact, that its meaning is often…
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A.CRE Build-to-Rent (BTR) Development Model (Updated Aug 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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30/360, Actual/365, and Actual/360 – How Lenders Calculate Interest on CRE Loans – Some Important Insights (Updated July 2025)

(Updated August 7, 2019 to include a Watch Me Build video and Downloadable file) Commercial real estate lenders commonly calculate loans in three ways: 30/360, Actual/365 (aka 365/365), and Actual/360 (aka 365/360). Real estate professionals…
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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…
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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…
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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…
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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,…
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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,…
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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…
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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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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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A.CRE Real Estate Financial Models Download Guide (Updated December 2024)

Since I started working with A.CRE, I wanted to find a way to easily find the different models, modules, tools, and tutorials the guys have shared from the Library of Excel Real Estate Financial Models. After some time helping out our readers…
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Simple Acquisition Model for Office, Retail, Industrial Properties (Updated Dec 2024)

A few years back, on a sleepy Saturday afternoon while my kids were busy eating Halloween candy, I decided to create a simple real estate acquisition model in Excel for office, retail, and industrial deals. Since then, I've made various updates,…
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Real Estate Equity Waterfall Model with Catch Up and Clawback (Updated Dec 2024)

A question came up recently in the A.CRE Accelerator's real estate waterfall modeling course regarding how to model GP Catch Up (i.e. Sponsor Catch Up) and LP Clawback provisions. I put together a quick video tutorial in response to that question,…
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Watch Me Build a Dynamic Mortgage Amortization Table in Excel (Updated September 2024)

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…