Real Estate Financial Modeling

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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated Jun 2022)

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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Convert Monthly Cash Flows to Quarterly and Annual Cash Flows (Updated Mar 2022)

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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Hotel Development Model (Updated March 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…
Preferred Return Return Capital
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Timing of Preferred Return vs Return of Capital in an Equity Waterfall with IRR Hurdles

Recently, we had an A.CRE reader ask us about the mechanics of Preferred Return distributions in our equity waterfall models with IRR hurdles. Specifically, he questioned the timing of when and how Preferred Return vs Return of Capital were…
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Single Family Residential Investment Analysis Model (Updated Feb 2022)

Pre-2008, I bought and sold my fair share of single family homes - both for investment purposes (rental or flips) and to live in. In those days, almost everyone was "investing" in residential real estate - hence the market crash. I personally…
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Underwriting a Tenant with Private Credit

Recently, we had an Accelerator member ask a question about how to accurately determine a credit rating and spec income discount rate for a private tenant in a single tenant net lease deal. While the scenario specifically involved a medical…
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Refinance Risk Analysis Tool in Excel (Updated Feb 2022)

Generally speaking, 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…
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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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Introducing the New Accelerator 2.0 Learning Platform

In 2018, Michael and I designed and built the A.CRE Accelerator program. We sought to build the preeminent tool for learning and mastering real estate financial modeling. It was intended to provide a clear path to real estate financial modeling…
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Ground Lease Valuation Model (Updated Jan 2022)

The topic of ground leases has come up several times in the past few weeks. Numerous A.CRE readers have emailed to ask for a purpose-built Ground Lease Valuation Model. And I'm in the process of creating an Advanced Concepts Module for our real…
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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.…
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Condominium Development Model (Updated January 2022)

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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Real Estate Equity Waterfall Model – IRR and Equity Multiple Hurdles (Updated Jan 2022)

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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The Definitive Guide to Microsoft Excel for Real Estate (Updated Dec 2021)

Microsoft Excel is the primary tool used by real estate financial modeling professionals. Even while numerous non-Excel alternatives have attempted to de-throne Excel, the 35+ year-old software has shown to be surprisingly resilient to competition.…
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Excel Pro Forma for Flipping Houses (Updated Dec 2021)

Before moving to the principal side of the business, I began my career as a self-described real estate investment specialist, largely working as a land broker but dabbling in other areas including the popular "single-family flip" space. In all…
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Pro Forma For Multifamily Renovation (Updated 11.17.2021)

I'm excited to share the Pro Forma for Multifamily Renovation model with all of you. This multifamily renovation model is made to analyze value add apartment acquisition opportunities and has a lot of functionality that is meant to provide you…