Posts

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Real Estate Financial Modeling Accelerator (Updated November 2019)

Since starting A.CRE, Michael and I have fielded email after email requesting a more structured real estate financial modeling training program on the site. Important Note: We're updating and adding to the Accelerator every week. Since launch,…
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Single Family Residential Investment Analysis Model (Updated 11.11.2019)

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…
Sources and Uses
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Construction Draw and Interest Calculation Model (Updated 10.14.2019)

I originally uploaded this equity/construction loan draw and interest calculation tool to our library of real estate financial analysis models in 2016. Over the years, I've continued to update it as suggestions, comments, and requests…
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Hotel Acquisition Model - The Basic Model (Updated 10.9.2019)

The initial goal for the original Hotel Acquisition Model was to design a hotel proforma that would enable users to get deep into the weeds of practically every line item in their hotel analysis. Although I am super happy with how that hotel…
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Residential Land Development Pro Forma (Updated 9.28.2019)

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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Real Estate Equity Waterfall Model - Monthly Periods (Updated 9.14.2019)

When I decided to share my real estate equity waterfall model in Excel, I never imagined it would be as popular as it has. The model has been downloaded thousands times and many of you have written to extend your thanks for sharing. It is gratifying…
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Real Estate Equity Waterfall Model - IRR and Equity Multiple Hurdles (Updated 9.14.2019)

Over the years, my real estate equity waterfall with annual periods and the [glossary_exclude]option[/glossary_exclude] of using either IRR or Equity Multiple Hurdles has been one of the most popular models download at Adventures in CRE. I've…
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Best Practices in Real Estate Financial Modeling

Before you use one of our real estate financial models (i.e. Excel templates), or before you set out to build your own real estate analysis tool in Excel, it's important to keep in mind a few real estate financial modeling best practices. This…
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Real Estate Portfolio Valuation Model (Updated 7.27.2019)

I built, and would like to share, a real estate portfolio model for valuing a portfolio of up to 30 properties. This is a "roll-up" model, meaning you will need to model your unlevered (before financing) property-level cash flows in a separate…
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Simple Acquisition Model for Office, Retail, Industrial Properties (Updated 5.1.2019)

A few years back, on a sleep 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…
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Multifamily (Apartment) Acquisition Model

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…
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3-Tiered Acquisition Debt Module

This is a 3-tiered debt module that will allow the user to add one to three tiers of debt to his or her real estate DCF model. Includes the option to layer in senior debt, secondary debt, and mezzanine debt; calculate interest on either…
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Apartment Acquisition Model with Monte Carlo Simulation Module (Updated 02.17.2019)

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 modeling
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Learning Real Estate Financial Modeling in Excel

We're often asked by our readers how we learned to be proficient in real estate financial modeling. The question usually arises because the person wants to know how to model real estate in Excel to either land a job in commercial real estate…
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Back-of-the-Envelope Office, Retail, Industrial Acquisition Model (Updated 10.1.2018)

I’ve built a new acquisition model that I am excited to share with our readers. This is a back-of-the-envelope (BOE) valuation model that can be used for retail, office, and industrial properties. The goal was to create a sleek and clean look…
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Single Family Home Construction Pro Forma for Home Builders (Updated 9.24.2018)

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,…