Posts

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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…
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San Francisco Development Explosion! - Interactive Map & Side Project

San Francisco's downtown area is currently going through an unprecedented, skyline redefining transformation. So many incredible developers and architects are in the process of leaving their mark on this city and it's all happening or will…
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Real Estate Development Tracker

One of the many challenges of both analyzing real estate development deals and managing development projects is understanding and tracking the numerous differing but intertwining work streams. The more a development team takes the time…
a gantt chart for real estate built in Excel
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Bonus Content - Gantt Chart and Weighted Average with Multiple Conditions

I have two updates/improvements to previous posts I thought I'd share with our readers today; call it, bonus content! The first, is a dynamic Gantt Chart tool I recently added to my Construction Draw and Interest Calculation Model. The second,…
land being analyzed in a land development pro forma
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Residential Land Development Pro forma

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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How to Use the Construction Draw and Interest Calculation Model

Note: Since recording this tutorial, I've updated the model. The latest version includes alerts regarding budget cash flow timing as well as a dynamic Gantt chart. It also fixes an error on the Budget tab in how the subtotal items' Lengths…
Sources and Uses
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Construction Draw and Interest Calculation Model

I've been meaning to include this equity/construction loan draw and interest calculation tool in our library of real estate financial analysis models, and finally got around to uploading it today. I built this awhile back at a time when…
Normal Distribution in Real Estate Forecasting
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S-Curve Forecasting in Real Estate Development

One of the reasons Mike and I blog, is to force ourselves to be continually learning. I built the first version of my real estate waterfall model, because I wanted to better understand the mechanics of modeling an equity waterfall with…
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Multifamily Redevelopment Model

This is an excel model built from scratch for value-add, opportunistic, and core multifamily properties. It was designed to work best for scenarios where individual units will be rehabbed over the hold at varying times. It can work for properties…