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Real Estate Financial Modeling Accelerator (Updated July 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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Excel Pro Forma for Flipping Houses (Updated Sept 2025)

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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Where Learning Goes Deeper: How The A.CRE Accelerator and Q&A Forum Build True Financial Modeling Mastery

Before transitioning into real estate, I spent over a decade teaching at the university level, preparing future mechanical engineers for successful careers in the field. That experience shaped how I think about learning: structured frameworks…
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Watch Me Solve a REPE Technical Interview Modeling Test (Updated Sept 2025)

What better way to spend some free time over the Thanksgiving holiday, than to record myself completing a real estate private equity technical interview exercise! While I've offered help with the real estate technical interview in the past,…
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A.CRE Accelerator and AI.Edge: What’s the Difference

At A.CRE, we offer two flagship programs for CRE professionals: The A.CRE Accelerator and the AI.Edge. Both give you a real advantage in real estate, but they solve different problems. Use this FAQ to choose the right fit or pair them for…
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Land Development Model – Multi-Scenario (Updated Aug 2025)

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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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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Excel’s Stale Value Formatting: What It Means and Why It Matters (Updated Aug 2025)

We recently received an email from an A.CRE reader using one of our real estate financial models with a curious question. He explained that many of the cells in his model suddenly had a strikethrough applied to the text. Naturally, he wondered…
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The Conditional Weighted Average – SUMPRODUCT with SUMIF (Updated July 2025)

Consider this scenario: you have a 50 tenant rent roll, consisting of various tenant types (i.e. small inline, large inline, junior anchor, anchor, etc.), and you want to calculate the weighted average rent for each tenant type. If I asked you,…
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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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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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Microsoft has blocked the macros in my A.CRE model – What now?

When downloading and opening an Excel model from A.CRE, some users may get the ominous message: "Microsoft has blocked macros from running because the source of this file is untrusted." If you've received this message, you're probably asking,…