Real Estate Financial Modeling

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Real Estate Financial Modeling Accelerator (Updated April 2024)

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…

RE Education, Real Estate Financial Modeling, Excel Tips, Excel Models, Office, Retail, Industrial, Tutorial, Modules, Watch Me Build

Watch Me Build – Custom Rent Schedule Module

In this Watch Me Build video I show you how to build a custom rent schedule module for long-term leases. The foundation of the module is a simple INDEX/MATCH combination that takes a rent schedule and models the rent cash flows across the entire…

Real Estate Financial Modeling, Excel Models, Tutorial, Excel Add-ins

A.CRE Geocoding Excel Add-in to Auto-Populate Latitude and Longitude in Excel (Updated Jul 2021)

The A.CRE Geocoding Excel Add-in uses the Google Geocoding API to automatically convert a given address to latitude and longitude coordinates, or to convert a given latitude and longitude coordinate to an address. The add-in makes auto-populating…

Real Estate Financial Modeling, Excel Tips, Excel Models, Excel Add-ins

Custom Function to Auto-Populate Latitude and Longitude in Excel (Updated 2021)

When analyzing real estate investments in Excel, it's often necessary to include the latitude and longitude coordinates of the properties we're modeling. To do this, most of us open up Google Maps, or some other mapping tool, and find the…

Land Development, Special Topics, Role Types, A.CRE 101 - Basic Concepts in Commercial Real Estate, Deep Dive, Development, Land

Deep Dive – Land Acquisition and Assemblage

This is a topic I'm all too familiar with. You see, I cut my teeth in real estate largely sourcing and negotiating residential and mixed-use land acquisition opportunities. I've put land deals together both as a fiduciary and as a principal,…

RE Education, Real Estate Financial Modeling, Excel Models, Tutorial, Investment Analysis

Could You Be Exiting Too Early? Don’t Forget to Analyze Your Reinvestment Rate

When attempting to maximize the value of your money invested in real estate, the timing of your exit is key to maximize your return. Exit too early, and you might leave money on the table. Exit too late, and you might have better used that capital…

Real Estate Financial Modeling, Excel Models, Apartment, Tutorial, Acquisition, Value-Add

Tutorials for A.CRE Value-Add Apartment Acquisition Model

As promised, I'm following up the release of the A.CRE Value-Add Apartment Acquisition 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 -…

Real Estate Financial Modeling, Excel Models, Equity Waterfall, Modules

Real Estate Equity Waterfall Model with Catch Up and Clawback (Updated May 2021)

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,…

Real Estate Financial Modeling, Excel Tips, Excel Models, Office, Retail, Industrial, Tutorial, Acquisition

Using Boolean Logic to Model Multiple Generations of Tenant Improvements

Arguably the most powerful, and least appreciated and understood, functionality in Excel is its use of boolean logic. Or in other words, the use of TRUE and FALSE binary logic. This form of logic can be used to dramatically simplify formulas…

Real Estate Financial Modeling, Excel Models, Modules, Acquisition

Real Estate Acquisition Due Diligence Checklist

Most of the Excel tools we share on Adventures in CRE are real estate financial models, but occasionally we'll venture into building other CRE-related tools. Over the past several months, I've been working on a real estate acquisition checklist…

Real Estate Financial Modeling, Excel Models, Modules, Acquisition

Real Estate Development Due Diligence Checklist

Last year, I shared a Real Estate Acquisition Due Diligence Checklist that was quite popular. Soon after its release, we began getting requests for a similar tool, but for development deals. So allow me to share a Real Estate Development Due…

Real Estate Financial Modeling, Excel Models, Apartment, Stochastic Modeling, Standalone, Acquisition

Apartment Acquisition Model with Monte Carlo Simulation Module (Updated Jan 2021)

We have a few stochastic modeling tools for real estate on the website, but none as robust as this Apartment Acquisition Model with Monte Carlo Simulation Module. I originally built the model in 2016 by taking my standard apartment acquisition…

Real Estate Financial Modeling, Excel Models, Apartment, Standalone, Acquisition

Multifamily (Apartment) Acquisition Model (Updated Dec 2020)

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…

Real Estate Financial Modeling, Excel Models, Office, Retail, Industrial, Standalone, Acquisition

Simple Acquisition Model for Office, Retail, Industrial Properties (Updated Dec 2020)

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…

RE Education, Real Estate Financial Modeling, Excel Tips, Excel Models, Tutorial, Equity Waterfall, Modules, Watch Me Build

Watch Me Build – IRR Partitioning in Excel

In this post, I'd like to show you how to partition the internal rate of return of your real estate investment in Excel. I also throw in a quick equity multiple partition, to highlight how the time value of money affects your returns. I've recorded…