Real Estate Investment Analysis

Learn professional investment analysis techniques for real estate investing in residential and commercial properties

Last updated 2022-01-10 | 4.5

- Confidently Evaluate the Return Potential of Any Real Estate Investment Opportunity
- Know a "Good" Investment from a "Bad" Investment
- Use Professional Grade Investment Models to Evaluate Your Deals

What you'll learn

Confidently Evaluate the Return Potential of Any Real Estate Investment Opportunity

Know a "Good" Investment from a "Bad" Investment

Use Professional Grade Investment Models to Evaluate Your Deals

Evaluate Rental Income Properties

Evaluate Fix & Flips

Evaluate Commercial Properties

Evaluate Airbnb Properties

Use Smart Investment Deal Structures With Business Partners

Understand and Use Professional Real Estate Investment Strategies & Techniques

* Requirements

* Have Microsoft Excel 2011 or Newer

Description

Welcome to Fundamentals of Analyzing Real Estate Investments , my practical course on how to use professional techniques to evaluate investment opportunities in real estate. This course has been propelling students from total beginners to confident practitioners in a matter of weeks.

Here is what a few of my students have to say:

James Mccarthy - 5 stars

“The most bang for your buck, this is the most value packed course I have on Udemy out of 84. The tools and materials in this course are top notch. This course is a clear investment towards achieving my investment goals. Your not likely going to build a house without a hammer. You need the right tool for the job and this is it!!!!!!!"

Dave Clinton - 5 Stars

“The instructor not only gave you a strategy but he also show how to apply it in real world situations.”

Bradley Garza - 5 Stars

“Tremendous value - just a wealth of content and knowledge I don't see anywhere else. The investment models and examples alone are worth 100x what I paid for this course. Instructor is responsive and continues to update content. Thank you Symon!”

Mark Forest - 5 Stars

“There is a tremendous amount of information in this course that far surpasses anything else offered by Udemy.

It doesn’t matter what facet of the real estate investment industry you are interested in, this course is full of invaluable information that will save you time and, if you apply what you learn, money.

Inside, you’ll find useful information on:

• Rental Income Properties

• Fix and Flips

• Multifamily Apartments

• Commercial Properties

• Land Development

• And a whole lot more!

Want to know what REAL real estate investment analysis is all about?

Tired of "no money down/get rich like me" real estate investing "secrets" from supposed real estate gurus that leave you filled with nothing but marketing fluff and upsells trying to convince you to purchase their $2000 elite coaching program?

Me too. That’s why I developed this course for students who are looking for actual results and not a magic bullet.

I can't promise I'll help you get rich enough to buy your own a yacht and and a pair of Ferraris, but I can teach you some serious real estate investment analysis techniques. The same techniques used by the best and most successful investors.

If you want to learn the real fundamentals of real estate investing and how to actually evaluate investment opportunities the way professional investors do, this is the course for you.

After getting my MBA from Stanford, I became a licensed broker and real estate consultant and worked on over $400M in real estate deals. I’ve spent hundreds of hours on research, not counting the countless deals I’ve made over the years.

And I’ve taken all that knowledge and put it all into this course.

Jim Bo - 5 Stars

“This is a very detailed and very thorough course that covers many aspects builds a solid foundation of real estate investing. In addition to superb videos, Symon does an excellent job at promptly answering all your questions with a lot of details. Anyone who is thinking about investing in real estate should take this course!”

Nelson Robertson - 5 Stars

“Well organized, thorough, and easy to follow. Symon makes a point to be very responsive to questions and provides very detailed answers. Tremendous value.”

How do you know if this course is right for you?

Have you've ever wanted to:

• Invest with business partners but do so in a smart and fair way?

• Want to appeal to investor clients as an agent?

• Want to land an acquisitions role as an analyst/associate?

• Want to get into real estate private equity and need to get up to speed?

• Want to be able to ANALYZE any real estate opportunity?

• Look at and evaluate deals the way a professional investor would?

• Become smarter and more efficient at finding and evaluating deals than you did before?

• Know what Airbnb short term rentals are all about and if it's worth your effort?

• Become an agent who could target investor clients instead of just home buyers?

• Have professional investment analysis tools that you could use immediately to evaluate your own investment opportunities?

• Get into a real estate acquisitions role (analyst or associate) in real estate i-banking or private equity (you get 20+ investment models/examples!)?

IF YES to any of the above, then this course is definitely for you.

Theododre Catillo - 5 Stars

“Very comprehensive. Much more than I expected. Recommend to anyone wanting a solid foundation”

Priska Prasetya - 5 Stars

“Easy to understand. The teacher makes the explanation simple. Highly recommended!”

Jorge juyo - 5 Stars

“The information is really well organized, well presented, Symon uses all the media and audio visual aids possible and that makes it easy to follow.”

_______________________________________

FREQUENTLY ASKED QUESTIONS

______________________________________

I don't live in the US, is the material still relevant to me?

Yes! While all of the examples are using US properties, ALL of the concepts taught and tools provided are just as useful for any market around the world. In fact, I have students from over 190 countries who are learning and using the tools provided in the course to help them invest in their local area.

What if I don't have any real estate background?

Perfect! I start you off with a heavy dose of the fundamentals so students with no experience or background can get the most out of the rest of the course. Check out my foundational sections below.

I have some real estate background already, what could I learn from your course?

Besides everything listed above, I’ll show you how to answer these types of questions for EVERY kind of real estate property:

• How do you know if a particular investment is worth your time and money?

• How do you know if property A is better than property B?

• How do you find deals that make sense for you? That fit your risk preferences and goals?

• How can you calculate your expected return on your investment?

• How would you analyze the returns for your investment company?

• How do you structure an investment with investment partners?

• How do you analyze operating assets?

If you know how to do all of that, this course isn’t for you. The good news I have plenty of advanced courses available as well, feel free to check those out right now to find the one that’s appropriate for your experience level.

Having said that, I put A LOT of useful materials in here so you're more than likely going to learn something new.

I've had folks who had over 20 years of experience find something of value in this course, so I’m certain you can too.

Why is there so much math and number crunching?

You can't properly evaluate a real estate investment without looking at its numbers. So if you hate math and don't like numbers, this course isn't for you. Serious real estate analysis is probably not for you either.

Why do you use Excel so much?

Good question. Analyzing real estate investments involves looking at the numbers and it's easiest to do so with spreadsheets, which is why I use Excel extensively in this course. But the good thing is you DO NOT have to build any of the models yourself. You just need to be able to follow along and then you'll be able to use the models I give you.

Can you make me rich by taking your course?

No, not just from taking the course. Anyone who promises you that is selling snake oil.

What I can guarantee is that you will leave with some serious real estate investing knowledge and techniques that can then lead you to being more profitable with your investments.

What else does this course cover besides real estate investing?

This course is ALL about and ONLY about professional real estate investing analysis concepts and techniques. Nothing else. But as you can see, this topic alone offers quite a bit to cover already.

Actually, I do cover one more thing: I will also cover daily affirmations that help you build that winning mindset. Oh, and I’ll have lots of sales videos that will push you to sign up for my super top secret real estate system for only 12 monthly low payments of just $999. Just kidding.

What will I be able to do after I take your course?

After taking my course, you will be:

• Able to confidently use professional real estate investment techniques.

• Able to evaluate both residential AND commercial real estate opportunities.

• Able to structure investments with business partners in a smart and equitable way via the waterfall framework

• Know how to identify and mitigate investment risks.

What WON'T I get from this course?

• You will not get a Real Estate License from taking this course. You can only get licensed by taking the appropriate test with the testing agency of your state and country. But what is taught in this course has nothing to with getting a license, which focuses on how to legally transact real estate deals between buyers and sellers. This course is about investment analysis.

• Due to the sheer number of students, I am unfortunately unable to help you evaluate your personal investment deals in this course. This is about you learning how to do it on your own using the lessons and the tools here. If you really want me to consult with you privately, my hourly rate is $350/hr with a minimum of 20 hours per request.

• This course does not cover any of the wide range of OTHER real estate topics, which deserve their own courses, including but not limited to: contract negotiations, real estate law, real estate marketing, REITs, etc... I try to cover the most important concepts as it relates to evaluating investment opportunities.

Diego Ginzo - 5 stars

"Excelente. Son clarisimas las explicaciones y la conceptualizacion"

Larry Butler - 5 stars

“Like the Bacchanal buffet in Las Vegas for real estate investing--a lot to devour but each is deliciously made. I'm already feeling full but can't wait to go back for more platefuls. If you're hungry and have a refined palette with respect to real estate, look no further.”

What’s holding you back?

Are you afraid this course won’t work? I assure you it will.

Are you afraid this course will work and you’ll actually have to start investing? I think that’s a pretty good problem to have.

Are you afraid it will take time and effort? It will. Real estate isn’t an easy business, if it was everyone would do it. But if you put in the work I promise you’ll see results.

Best of all, there is absolutely ZERO risk. Udemy gives you a 30-day money back guarantee to ensure you get what you pay for.

So go ahead, sign up and I'll see you inside!

~Symon

Who this course is for:

Newbie real estate investors
Experienced commercial and/or residential real estate investors
People that want to invest in House Flips, Rental Properties or Apartments
Those that want to invest in commercial warehouses, parking lots, retail properties, etc...
Great for private investors and investment teams
Real Estate Agents Seeking Tools to Appeal to Investor Audience
Those who want to make BANK with Airbnb
MBA Students, iBankers, Financial Analysts
Someone who wants an in depth and broad coverage of real estate investment analysis concepts and techniques

Course content

18 sections • 157 lectures

Intro: Why Do We Care About Investment Analysis? 5 lectures

A few reminders before we begin Preview 01:12

Why Investment Analysis? Part 1 of 2 Preview 09:26

Why even do investment analysis? Part 1 of 2

Why Investment Analysis? Part 2 of 2 Preview 10:57

Why even do investment analysis? Part 2 of 2

Investment Analysis Process Preview 05:47

Quick message about investment analysis process as well as message for international students.

Check out my latest articles Preview 00:54

Jumpstart 9 lectures

Jumpstart Intro Preview 00:52

NOTE: Even though the example uses Zillow.com, you're free to use ANY website that has home listing as long as you can gather similar information for the exercise.

Get the details of what you're about to learn in this section, which will give you a major jumpstart to your real estate investment analysis education.

Get through these few lectures and in less than an hour, you'll be able to evaluate your very own rental income property.

This is meant to be a highly summarized and fast paced section--don't worry if you don't follow on 90% of it!

It is only meant to give you a FEEL for what it's like. EVERYTHING will be explained in detail at a normal pace in the rest of the course!

You can download this model for free here and follow along in the Jumpstart section. Try before you buy!

https://drive.google.com/open?id=0B3ZhPPeH41ORU2FmM0xaaUdiNVk

Zillow Alternatives Preview 00:50

Here are some alternative sites to do your market research.

NOTE ON MODELS Preview 00:46

Jumpstart - Market Research 1 Preview 16:32

Using the attached Excel model and Zillow.com listings, we do some quick market research on rental income properties.

Jumpstart - Market Research 2 Preview 07:08

Demonstrating how to interpret the results from the quick market research exercise.

Jumpstart - Rental Income Property Back of the Envelope Analysis Preview 07:59

Using the attached back of the envelope model, we evaluate a rental income property that you've just found.

Updated BOE Model (Up to 50 Years) Preview 02:17

What's Next? Preview 01:44

Whoa, you've already learned how to evaluate a rental income property (at a high level). Here's what to expect in the rest of the course.

Can I get your opinion? Preview 00:18

Foundations: Investment Process 11 lectures

Investment Process Overview Preview 00:28

Overview of this section on the components of the investment process.

Originations Preview 02:30

The first stage in the Investment Process - Originations.
The who, what and where of deal sourcing.
Who will bring you deals, what are you looking to invest in and where are you looking to invest?

Analysis (What This WHOLE Course is ALL About!) Preview 07:33

This Analysis phase of the Investment Process is the emphasis of the course. It is detailed further in the examples in the latter part of the course.

This lecture will tell you why analysis is so important and how it could save you precious time and money.

Due Diligence Preview 04:27

After you have completed the analysis and modeled out the return potential for your investment, you must take the time and care to validate and verify all the key assumptions that could impact your investment.

Financing & Closing Preview 03:09

Financing and Closing is the stage where you assure all the necessary funds are in place to make your deal happen.

In this lecture you will learn about the main sources of funding involved in real estate investments.

Construction & Rehab Preview 08:33

The project doesn't end after closing, now it's time to increase the value of your asset.

In this lecture you will learn the key considerations for construction and rehab and how to work with contractors.

Stabilization Preview 02:31

After construction is complete, you then want to stabilize the asset (aka get it to the point where it would be most marketable for a sale).

Learn the various types of stabilization depending on the nature of the type of investment.

Exit Preview 03:07

In the final stage of the investment process, this is where you sell (or exit) from the asset and actually realize your returns (or losses).

TLDW Summary Investment Process Preview 07:47

Too Long Didn't Watch (TLDW) Summary of the Investment Process Section.

Section Summary Notes: The Investment Process Preview 2 pages

Brief summary of the Investment Process covered in this section.

Investment Process Quiz

Review of concepts covered in the Investment Process section

Foundations: Real Estate Cycles 6 lectures

Intro to Real Estate Cycles Preview 03:50

What are the four phases that repeat for every real estate cycle?

Recovery Phase Preview 08:19

Following the market crash of 2008, recovery began in most real estate markets in 2011-12.

Expansion Phase Preview 04:26

What marks the beginning and end of the expansion phase, which many markets seem to be in already in 2018.

Hypersupply Phase Preview 04:34

What will kick off the hypersupply phase and what will signal it's end?

Recession Phase Preview 05:57

Learn why when markets crash, it often takes 3-5 years to fully bottom out.

The Next Bust? Preview 07:18

Barring a global conflict or major interest rate hikes from the feds, when should we expect to see the next peak and crash of the real estate market?

Foundations: How to Measure Returns 13 lectures

Measures of Return Overview Preview 01:48

Quick summary of the topics covered in this section.

Discounted Cash Flow & Net Present Value Preview 05:37

What is discounted cash flow analysis and net present value?

Discount Rate Preview 02:42

What is the discount rate and how do you determine the right one to use for your NPV calculation?

Net Present Value Excel Demo Preview 07:34

Demonstration of the Net Present Value calculations through examples using Excel

Internal Rate of Return Preview 02:34

Understand what the Internal Rate of Return is and how to use it

Internal Rate of Return Excel Demo Preview 04:24

Demonstration of the Internal Rate of Return (IRR) Calculations by comparing sample investment cash flows that appear very similar but give different IRR results.

Cash Multiple Preview 01:58

Learn what the Cash Multiple is and why it's used alongside the IRR

Which Measure to Use? Preview 06:03

So which measure should you use? You need at least two to measure both the efficiency and magnitude of investment returns.

Which Measure to Use DEMO Preview 04:51

Demonstration of why you should use multiple measures of returns using examples in Excel.

Terminal Value Preview 05:09

How to calculate the Terminal Value of an income property you plan to hold indefinitely.

Yields and Cap Rates Preview 08:38

Learn what Yields and Cap Rates mean and how they apply to income producing properties.

TLDW Summary Measures of Return Preview 07:49

A Too Long Didn't Watch (TLDW) Summary of all the topics covered in this section.

Measures of Return Quiz

Foundations: Impact of Debt on Return 6 lectures

Intro to Impact of Debt Preview 00:54

Overview of the topics to be covered in this section around how debt impacts your measures of return.

Interest Only vs Amortized Debt Preview 04:34

Learn the difference between interest only vs fully amortized loans.

The Amortization Calculator Preview 04:11

A look at the amortization calculator that is built into every investment model in this course.

Amortization Schedule w/ Extra Principal Payment Option Preview 00:09

This is a new revised Amortization calculator that shows what happens if you made extra monthly payments towards principal each month.

Unleveraged vs Leveraged Returns Preview 05:07

Understand how taking on debt could impact your investment.

TLDW Summary Impact from Debt Preview 04:41

Too Long Didn't Watch (TLDW) summary of the Impact from Debt section

Foundations: Investment Considerations 7 lectures

Investment Considerations Overview Preview 00:35

Overview of topics to be covered in this section.

External Considerations Preview 11:14

In this lecture, we'll explore market and external considerations that could affect your investment analysis

Property Considerations Preview 12:54

In this lecture, we will discuss property specific considerations that could affect your investment analysis.

Deal Considerations Preview 09:52

In this lecture, we discuss some deal specific considerations that affect your investment analysis.

Other Considerations Preview 05:49

In this lecture, we will discuss other considerations that could affect your investment analysis.

TLDW Summary Investment Considerations Preview 12:30

Too Long Didn't Watch (TLDW) summary of all the investment considerations discussed in this section.

Investment Considerations Quiz

Foundations: Three Primary Investment Strategies 6 lectures

Investment Strategies Overview Preview 00:37

Overview of the topics to be covered in this section regarding the three broad investment strategies.

Core Investment Strategy Preview 08:22

In this lecture, we explore the characteristics of the core investment strategy.

Opportunistic Investment Strategy Preview 11:21

In this lecture, we explore the characteristics of the opportunistic investment strategy.

Value Added Investment Strategy Preview 06:24

In this lecture, we look at how the value added investment strategy falls somewhere in between core and opportunistic strategies.

TLDW Investment Strategies Preview 07:48

Too Long Didn't Watch (TLDW) summary of the topics in this section reviewing the key points on the investment strategies.

Investment Strategies Quiz

Check In 2 lectures

Checking In Preview 01:07

You've learned a lot of real estate investing foundations--how do you feel? Ready to do deep dive analysis?

TLDW (Too Long Didn't Watch) - Case Studies Preview 00:45

Too Long Didn't Watch Summary for Case Studies

How to Invest with Others - Intro to the Waterfall Framework 17 lectures

Investing with Others Overview Preview 02:18

Overview of the topics to be covered in this section.

Why Even Invest with Others? Preview 03:32

Learn why would you want to invest with others? What are the potential benefits?

What are the Risks of Investing with Others? Preview 01:28

What could go wrong when investing with others?

Intro to the Waterfall Distribution Framework Preview 10:33

What is the waterfall distribution framework? What are its components?

Waterfall Examples Overview (DOWNLOAD) Preview 02:11

In this lecture, we look at the sample investment that we will use for the four upcoming waterfall examples--one where there is NO waterfall, a 2-tier waterfall, a 3-tier waterfall, and finally a 4-tier waterfall.

Download the file in this lecture. You will be using it for the next 4 lectures.

Example 1: No Waterfall Preview 04:08

A breakdown of how the sample investment's profits would be distributed to the investors if no waterfall framework is used.

Example 2: Two Tier Waterfall Preview 03:09

A breakdown of how the sample investment's profits would be distributed to the investors if a 2-tier waterfall framework is used.

Example 3: Three Tier Waterfall Preview 03:36

A breakdown of how the sample investment's profits would be distributed to the investors if a 3-tier waterfall framework is used.

Example 4: Four Tier Waterfall Preview 05:17

A breakdown of how the sample investment's profits would be distributed to the investors if a 4-tier waterfall framework is used.

Waterfall Examples Summary Preview 05:41

A summary and comparison of the waterfall examples.

Which Waterfall to Use? Preview 02:15

What Happens if Investment Loses Money? Preview 00:30

Example 5: Money Losing Investment Waterfall Preview 04:53

Example 6: Waterfall using Fix & Flip Investment Preview 05:25

The file in this lecture will be reviewed in greater detail in the Fix & Flip Case Study.

Example 7: Waterfall using Rental Income Investment Preview 06:55

The file in this lecture will be reviewed in greater detail in the Rental Income Property Case Study.

Investing with Others Final Tips Preview 01:49

Investing with Others Quiz

Fix & Flip Case Study 6 lectures

Single Unit Flip Overview Preview 01:07

A quick overview of the Fix & Flip topics covered in this section

Single Unit Flip Key Considerations Preview 13:48

When flipping a property you have many variables to consider.

In this lecture, the instructor will explain the detailed financial analysis model and how each assumption works.

Single Unit Flip Example Pt. 1 Preview 07:18

In this lecture, the instructor will review an example of a residential home flip.

**Detailed Financial Analysis Model included

Single Unit Flip Example Pt. 2 Preview 07:04

In this lecture, the instructor will continue to analyze the property from part 1.

Advanced Fix and Flip Investment Model Unlocked Preview 00:11

This Model is for advanced students only. Use at your own risk. All formulas are unlocked so there are many places to mess calculations up. =)

Advanced Fix & Flip Model - Holding Costs Not Financed Preview 00:10

This Model is for advanced students only. Same as previous model EXCEPT that holding costs are now separated from Renovation costs and not financed.

Use at your own risk. All formulas are unlocked so there are many places to mess calculations up. =)

Rental Income Property Case Study 6 lectures

Single Unit Rental Overview Preview 00:52

A quick overview of the rental income property topics to be covered in this section

Single Unit Rental Key Considerations Preview 09:30

When renting out a property you have many variables to consider.

In this lecture, the instructor will explain the detailed financial analysis model and how each assumption works.

Single Unit Rental Example Pt. 1 Preview 07:43

In this lecture, the instructor will review an example of a residential rental income property.

**Detailed Financial Analysis Model included

Single Unit Rental Example Pt. 2 Preview 07:05

In this lecture, the instructor will review an example of a residential rental property.

**Detailed Financial Analysis Model included

Advanced Rental Investment Model Unlocked Preview 00:11

This Model is for advanced students only. Use at your own risk. All formulas are unlocked so there are many places to mess calculations up. =)

Sorry, I will not be doing any one on one exercises with these unlocked models. Thanks for your understanding.

Cheers,
Symon

INTEREST ONLY VERSION - Advanced Rental Investment Model Unlocked Preview 00:07

Multifamily Investment Case Study 5 lectures

Multi-Unit Property Overview Preview 04:12

In this lecture we will review the Multi-Unit Model, give you a tour of its components and explain how to use it effectively.

A Multi-Unit property is similar to an apartment, duplex or similar asset.

Multi-Unit Property Key Considerations Preview 11:14

When working with a multi-unit property you have many variables to consider.

In this lecture, the instructor will explain the detailed financial analysis model and how each assumption works.

Multi-Unit Property Example A Preview 13:40

In this lecture, the instructor will review the first example of a multi-unit property.

**Detailed Financial Analysis Model included

Multi-Unit Property Example B Preview 10:08

In this lecture, the instructor will review the second example of a multi-unit property.

Use the Model in the Previous Example to follow along here.

Advanced Multi-Unit Investment Unlocked Model - Different Exit Assumptions Preview 00:23

This Model is for advanced students only. Use at your own risk. All formulas are unlocked so there are many places to mess calculations up. =)

Commercial Real Estate Case Studies 19 lectures

Introduction to Commercial Real Estate Preview 13:50

An introduction to the topics covered in this section.

Asset States For Deals Preview 06:25

Different asset states encountered in commercial real estate investments

Types of Commercial Leases Preview 07:30

Overview of different types of commercial leases

Industrial Warehouses Overview Preview 09:22

Goes over various subcategories of this asset type.

Industrial Warehouse Subdivision Example Preview 14:21

Example of a warehouse subdivision -- 50K sf distribution warehouse subdivided into 8 R&D flex spaces.

NOTE: The example model has been updated since the original publishing to reflect some changes to the model--fixes that corrected some errors regarding the rental bumps (previously was not flowing through to results). So the return figures in the model are correct while the return figures in the video are not. All assumptions are the same and concepts do not change.

Industrial Portfolio (Multiple Tenants) Example Preview 23:04

Commercial RE example of investing in an small portfolio of industrial assets.

Retail Example Preview 13:59

Example: Buying of a fully leased corner neighborhood retail center as income play

Anchored Retail Example Preview 15:35

Similar example to Lecture 84 except with the context of an anchored tenant.

Simple Office Example Preview 16:11

Example of the purchase and stabilization of a neighborhood office building.

Downtown Office Example Preview 14:42

Example of the purchase, renovation, and stabilization of a 12 floor downtown office building.

Mixed Use Retail Center Example Preview 10:54

Example of the purchase, construction, and lease up of a mixed use retail/apartment complex.

Medical Plaza Build to Suit Example Preview 12:41

Medical Plaza Build to Suit Example

Finished Land Lots - Land Banking Example Preview 11:23

Land banking example with finished residential lots

Operating Assets Overview Preview 05:25

Overview of Operating Real Estate Assets

Self Storage Example Preview 13:49

Example of building and operating a self storage facility.

Economy Hotel Example Preview 14:57

Example of buying, renovating, and turning around an underperforming economy hotel.

Parking Garage Example Preview 12:25

Example of building and operating a private parking structure.

Advanced Parking Garage Model Unlocked Preview 00:05

Unlocked version of the parking garage model for advanced students who want to use the model as a template to build their own.

Advanced Commercial Model Unlocked - Normal Numbers Preview 00:12

Instead of having figures in (000s), this model takes in and spits out regular figures that are not condensed. Strictly for preference only everything is the same.

This Model is for advanced students only. Use at your own risk. All formulas are unlocked so there are many places to mess calculations up. =)

This is a model for the non-operating commercial examples.

Waterfall Framework Implementation in Excel 5 lectures

Deep Dive into the Waterfall Framework Overview Preview 00:56

A brief overview of what we'll be covering in this section.

Modeling the Preferred Return Preview 10:19

A discussion of the logic and implementation of the preferred return in Excel

Modeling the IRR and Cash Multiple Hurdles Preview 07:56

A discussion of the logic and implementation of the IRR and Cash Multiple hurdles in Excel

Modeling the Catchup Preview 06:42

A discussion of the logic and implementation of the catchup in Excel

Final Calculations for the Waterfall Preview 04:20

A discussion of the logic and implementation of the final waterfall calculations in Excel

Appendix: Special Topics and Examples 18 lectures

IRR vs XIRR vs MIRR Preview 09:32

A discussion and comparison of the IRR, XIRR, and MIRR functions in Excel. What are their differences and which should you use?

How to Build a Back of Envelope Model from Scratch 1 of 2 Preview 17:37

Looking at the core assumptions can help you quickly assess the viability of an investment.

In this lecture you will learn to build a robust, "back of the envelope" model from scratch to very quickly assess a rental income property.

**Model Included (Note that there are TWO models here - one is the same as the one in the video where for simplicity reasons, I've assumed that the renovations are financed. The alternative assumes the renovations can be covered with cash).

How to Build a Back of Envelope Model from Scratch 2 of 2 Preview 18:51

Continuation of the Back of the Envelope example.

NOTE: What is labeled as "Down Payment" is technically the "Total Equity Investment". In an effort simplify this example early on here, I've added closing costs and exit renovations into the Total Cost of the Project. It's not typically rolled into the debt this way but the impact here is not significant.

UPDATE: File has correct label. Down Payment is now Total Equity Investment. (Note that there are TWO models here - one is the same as the one in the video where for simplicity reasons, I've assumed that the renovations are financed. The alternative assumes the renovations can be covered with cash).

EXAMPLE: College Town Rental - Renting Out Individual Rooms Preview 18:05

Example showing the purchase and lease up of a college town condominium where each room is leased separately to individual students.

Example: Building a Mortgage Amortization Calculator in Excel Preview 19:14

In this lecture you will learn how to build an Amortization Schedule from scratch, as well as receive a completed version that you can use immediately.

**Base Model Included

Due Diligence Checklist Part 1 Preview 11:33

Having a checklist makes all the due diligence considerations easier to track and visualize.

In this lecture you will learn about each part of the due diligence checklist, as well as receive a digital and printable copy of the WCI Due Diligence Checklist.

**Supplementary Material Included

Due Diligence Checklist Part 2 Preview 09:53

Continuation from previous lecture.

Having a checklist makes all the due diligence considerations easier to track and visualize.

In this lecture you will learn about each part of the due diligence checklist, as well as receive a digital and printable copy of the WCI Due Diligence Checklist.

**Supplementary Material Included

EXCEL: Sensitivity Analysis 101 Preview 11:44

Using the BOE model to demonstrate how to conduct a sensitivity analysis on two variables (e.g. rental rate and purchase price) affect the potential returns of an investment.

SPECIAL TOPICS: Amortization vs. Loan Term Preview 06:14

Explanation and demonstration of the difference and relationship between the Amortization Period and the Term of a Loan

SPECIAL TOPICS: Should I Rent or Purchase My House? Preview 15:42

Covers considerations for those deciding between renting vs buying a property using two web-based rent vs buy calculators.

EXCEL: Modeling Timing Contingencies Preview 09:27

Demonstration of how to model timing contingencies in an investment analysis. For example, how to model planning, construction, and lease up such that changing one variable automatically adjusts the others accordingly, allowing you to test how changing the timing of one variable would affect the returns of the investment.

EXAMPLE: Rental with Purchase Option Preview 12:01

Example of a Rental with Purchase Option Investment

SPECIAL TOPICS: Intro to Deal Syndication (Single Investment) Preview 10:56

Overview and introduction to deal syndication.

SPECIAL TOPICS: How Much House Can I Afford? Preview 07:14

For homebuyers, here are some tools you can use to quickly gauge 'how much house' you could afford.

LIVE DEMO - Las Vegas and Los Angeles Rental Property Analysis & Q&A Preview 00:15

Live demo using investment models to evaluate properties in Las Vegas and Los Angeles.

Concepts covered: Rental Property Analysis. Taking on Debt. Investing with Partners.

BOE Model with Interest Only Loan Preview 00:02

The same jumpstart BOE model but with the financing treated as interest only for those who want it.

LECTURE SLIDES DOWNLOAD Preview 00:10

For those of you who what to have the slides that I used throughout the course, you can download PDF versions by going to the link shared here.

BOE Model - Rising Property Taxes Preview 00:04

Extra Topic: How to Evaluate Airbnb Hosting as an Investment 14 lectures

Introduction to Airbnb Preview 08:09

Learn about the early days Airbnb

Airbnb Hosting Economics I Preview 19:03

Introduction to Rental Arbitrage and Hosting Economic Considerations

Airbnb Hosting Economics II Preview 20:50

Continuation of the discussion from the previous lecture. Also evaluates the difference between purchasing and leasing a unit for listing on Airbnb.

Airbnb Key Considerations for Short Term Rentals I Preview 21:32

Part 1 of a three part discussion on the key considerations of Airbnb hosting.

Airbnb Key Considerations for Short Term Rentals II Preview 17:35

Part 2 of a three part discussion on the key considerations of Airbnb hosting.

Airbnb Key Considerations for Short Term Rentals III Preview 16:06

Part 3 of a three part discussion on the key considerations of Airbnb hosting.

Airbnb Best Practices I Preview 24:55

We begin our discussion on some best practices for short term rentals on Airbnb.

Airbnb Best Practices II Preview 22:33

Continuation of discussion from previous lecture on Airbnb hosting best practices.

Airbnb Best Practices III - Full Time Rentrepreneurs Preview 13:28

Discussion of how full time rentrepreneurs should approach Airbnb hosting.

Airbnb Example: Listing Extra Room Part I Preview 15:14

Running through an example of looking at the returns of listing an extra room on Airbnb using a model courtesy of LearnAirbnb

Airbnb Example: Listing Extra Room Part II Preview 09:10

Continuation from the previous lecture to finish the example. The model here is the same as the model in the previous lecture--it is provided for convenience.

Airbnb Example: Dedicated Unit for Airbnb Preview 18:25

Using LearnAirbnb's free hosting calculator to look at what a dedicated Airbnb unit in Downtown Los Angeles might look like as an investment.

Updated LearnAirbnb Model for Airbnb Hosting Preview 00:06

Use this model for your calculations instead.

Target Investment Returns Preview 00:21

Target investment return ranges by property and market class. Note these are ROUGH ranges based on what I've seen over the years. Use them only as a starting point as each asset class, deal, and market will require adjustments.