The Advanced Real Estate Financial Modeling Bootcamp

The Complete Guide To Advanced Real Estate Financial Modeling For Real Estate Investment Professionals

Last updated 2022-01-10 | 4.8

- The ability to model complex real estate investment scenarios in Microsoft Excel.
- A mastery of real estate financial modeling formulas
- functions
- and processes.
- The skill set to model development projects
- major renovation projects
- and complex debt and equity structures.

What you'll learn

The ability to model complex real estate investment scenarios in Microsoft Excel.
A mastery of real estate financial modeling formulas
functions
and processes.
The skill set to model development projects
major renovation projects
and complex debt and equity structures.
The ability to manipulate data provided by sellers and brokers quickly and easily to arrive at more precise real estate valuations more efficiently.

* Requirements

* Access to Microsoft Excel for Mac or PC.
* An intermediate knowledge of real estate finance and financial modeling is recommended.
* A basic working knowledge of Microsoft Excel is recommended.

Description

Master real estate financial modeling. Advance your career. Make more money.

If you're a current real estate professional looking to beef up your real estate financial modeling skill set, or you're looking to break into the real estate investment industry and want a leg up on your competition, you're in the right place.

The Advanced Real Estate Financial Modeling Bootcamp will take you from a basic knowledge of real estate finance and Excel to an expert real estate financial modeler who can model complex real estate investment scenarios, whether you're looking to land a new job or do your first deal on your own.

This course was built as a "playbook" that you can reference at any time. Need to model a construction loan? Check out the course. Modeling a hold/sell analysis? Log in again. Modeling a cash-out refinance after your renovation? Just check back into the class and follow the steps.

There are a LOT of things that you'll be able to do after taking this course, including:

  • Create dual-metric data tables to sensitize multiple investment return metrics in the same analysis

  • Build a dynamic best/base/weak case analysis that automatically calculates returns based on your upside (and downside) scenarios of any deal

  • Model a next-buyer analysis to precisely project sale proceeds at the end of a real estate investment

  • Partition your IRR so you know what percentage of your returns are coming from cash flow and what percentage are coming from sale (and your risk based on both)

  • Build a hold/sell analysis to calculate the optimal year to sell your property

  • Build out construction loan draws, dynamic equity draws, and capitalized interest to accurately model your capital structure on ground-up development deals

  • Model cash flow distributions on a monthly, quarterly, and annual basis (that can be switched at the press of a button).

This course is perfect for you if:

  • You're a college student or graduate student looking to break into the real estate investment industry after graduation, and you're looking to add the key technical skill sets to your arsenal that will put you head and shoulders above the competition and allow you to land a lucrative career opportunity in the field

  • You're an existing real estate professional looking to advance your career, increase your compensation, and break into the real estate investment industry at a high level

  • You've bought rental homes or duplexes, and now you're looking to buy larger commercial real estate properties and want to feel confident in your ability to analyze new deals

Here's what some of our students have had to say:

★★★★★ "This course was definitely intense, but the information is invaluable. Justin does a great job explaining everything thoroughly and I've learned more about Excel in my past few courses than my entire life."

★★★★★ "Another great course by Justin. I found this to be the most difficult of all his courses, very advanced. The best part is the comprehensive case study at the end that really ties everything together well. I felt like I learned a lot."

★★★★★ "Loved this course.  Justin's approach is very didactic and on point. If you have strong understanding of the basics in real estate finance, but don't know how to create a model, this course is for you. As Justin said, the secret to succeeding in this particular field is practice. Create the model again from scratch, go back to the solution file to make sure you get the right numbers."

★★★★★ "This was a fantastic course! Justin is very knowledgeable and explains all the concepts extremely well. I feel that this course has helped me very much and I am looking forward to continuing practicing the topics and improving on my skill set. I would highly recommend this course to anyone. Thank you Justin for the great work that you have put together."

★★★★★ "If you are a beginner to a veteran in CRE, and you've always wondered how to analyze an investment and the capital stack behind it, this is the only course you'll ever need. Justin Kivel does an excellent job of breaking down each of the considerations and explains them thoroughly. Thanks to Justin for putting out such a high-quality course!"

If you understand the basics of real estate finance, and you're looking to take your real estate financial modeling skill set to an expert level, I'd love to have you join us. Looking forward to seeing you inside!

Who this course is for:

  • College students or career switchers who want to begin a career in private equity real estate finance.
  • Current real estate professionals who want to boost their compensation by adding valuable financial modeling skills to their existing skill set.
  • Current real estate investors who want to feel confident moving from purchasing 1-4 unit rental properties to larger properties involving more complex financial metrics and data.

Course content

10 sections • 164 lectures

What We Will Cover Preview 04:06

How To Take This Course Preview 02:31

About The Instructor & This Course Preview 01:56

Download Me First Preview 00:11

Disclaimer Preview 01:23

Advanced Formulas & Functions - Overview Preview 01:27

Naming Cells Preview 01:16

Naming Cells Exercise & Solution Preview 05:15

Dynamic INDEX(MATCH()) Preview 03:02

Dynamic INDEX(MATCH()) Exercise & Solution Preview 08:10

IF(ISNUMBER(SEARCH())) Preview 00:56

IF(ISNUMBER(SEARCH())) Exercise & Solution Preview 06:17

& Preview 01:01

& Exercise & Solution Preview 05:21

Partial COUNTIF Preview 01:19

Partial COUNTIF Exercise & Solution Preview 04:11

YEARFRAC Preview 01:06

YEARFRAC Exercise & Solution Preview 05:48

Sort & Filters Preview 00:41

Sort & Filters Exercise & Solution Preview 06:12

Dynamically Return Unique Values Preview 00:44

Consolidated Unit Mix Exercise - Part 1 Preview 06:14

Consolidated Unit Mix Exercise - Part 2 Preview 04:22

Consolidated Unit Mix Exercise - Part 3 Preview 04:18

MOD(ROW()) Preview 00:49

MOD(ROW()) Exercise & Solution Preview 05:10

TRANSPOSE & Array Functions Preview 00:51

TRANSPOSE & Array Functions Exercise & Solution Preview 04:30

Advanced Deal Analysis Introduction Preview 01:41

Break-Even Occupancy Preview 01:03

Break-Even Occupancy Exercise & Solution Preview 05:00

Break-Even Occupancy - AVERAGE & MAX Preview 03:56

Dual-Metric Data Tables Preview 00:53

Dual-Metric Data Tables Exercise & Solution Preview 05:25

Best-Base-Weak Case Scenario Analysis Preview 01:20

Best-Base-Weak Case Scenario Analysis Exercise & Solution Preview 05:33

Dynamic Next Buyer Analysis Preview 01:36

Next Buyer Analysis - Implied Cap Rate & Purchase Price Preview 04:12

Next Buyer Analysis - Purchase Price & Closing Costs Preview 03:50

Next Buyer Analysis - Cash Flow Before Debt Service Preview 07:50

Next Buyer Analysis - Sale Proceeds, Costs of Sale, & Net Unlevered Cash Flows Preview 04:00

Next Buyer Analysis - Dynamic Unlevered IRR Using OFFSET Preview 04:14

Next Buyer Analysis - Unlevered Equity Multiple Preview 02:12

IRR Partitioning Preview 01:18

IRR Partitioning Exercise - CF Net of Sale Proceeds Preview 05:05

IRR Partitioning Exercise - Sale Proceeds Preview 02:26

IRR Partitioning Exercise - Partitioning The IRR Preview 04:00

Hold-Sell Analysis Preview 00:56

Hold-Sell Analysis Exercise - Reversion Year CF Preview 06:01

Hold-Sell Analysis Exercise - Unlevered CF & IRR Preview 03:47

Hold-Sell Analysis Exercise - Levered Reversion Year CF Preview 06:19

Hold-Sell Analysis Exercise - Levered CF & IRR Preview 02:23

Hold-Sell Analysis Exercise - Dynamic Optimal Sale Year Preview 04:57

Advanced Revenue & Expense Modeling - Introduction Preview 02:03

Lease-Up Modeling Preview 00:35

Lease-Up Modeling Exercise - GPR Preview 05:57

Lease-Up Modeling Exercise - % of Lease-Up Complete Preview 05:31

Lease-Up Modeling Exercise - Dynamic General Vacancy Preview 03:49

Lease-Up Modeling Exercise - Operating Expenses Preview 03:47

Lease-Up Modeling Exercise - Capital Reserves Preview 03:12

Renovation Premium Modeling Preview 01:27

Renovation Premium Modeling - % of Renovation Complete Preview 05:49

Renovation Premium Modeling - GPR Preview 06:52

Renovation Premium Modeling - Varying Vacancy Rates Preview 03:24

Renovation Premium Modeling - Straight-Line Renovation Costs Preview 02:53

Commercial Lease Roll-Over Modeling Preview 01:28

Commercial Lease Roll-Over Modeling - In-Place Lease Rent Preview 05:21

Commercial Lease Roll-Over Modeling - New & Renewal Lease Rent Preview 12:01

Commercial Lease Roll-Over Modeling - Tenant Improvement Allowances Preview 05:10

Commercial Lease Roll-Over Modeling - Leasing Commissions Preview 03:52

Varied Annual Growth Rates Preview 01:26

Varied Annual Growth Rates Exercise - Market Rent Growth Preview 08:31

Varied Annual Growth Rates Exercise - Vacancy Preview 02:00

Advanced Cash Flow Modeling Introduction Preview 02:56

Annual & Quarterly CF Roll-Up Preview 01:28

Annual CF Roll-Up Exercise - Part 1 Preview 03:18

Annual CF Roll-Up Exercise - Part 2 Preview 08:44

Quarterly CF Roll-Up Exercise Preview 05:30

Working Capital Accounts Preview 01:36

Working Capital Exercise - Initial Contributions Preview 02:28

Working Capital Exercise - Balance & Distributions Preview 06:55

Fixed & Variable Expense Modeling Preview 01:03

Fixed & Variable Expense Modeling Exercise - Introduction Preview 02:36

Fixed & Variable Expense Modeling Exercise - Expense Build-Out Preview 07:36

Property Tax Reversion Resets Preview 01:49

Property Tax Reversion Resets Exercise - Year 1 Preview 04:07

Property Tax Reversion Resets Exercise - Years 2-11 Preview 04:55

Advanced Debt & Equity Modeling - Introduction Preview 02:18

Floating-Rate Debt Preview 00:40

Floating-Rate Debt - Transposing Index Rates Preview 05:42

Floating-Rate Debt - Loan Payments Preview 06:40

Refinance Modeling Preview 00:53

Refinance Modeling Exercise - Acquisition Loan Month 0 Preview 03:14

Refinance Modeling Exercise - Acquisition Loan Payments & Payoff Preview 05:48

Refinance Modeling Exercise - Refinance Modeling Part 1 Preview 02:56

Refinance Modeling Exercise - Refinance Modeling Part 2 Preview 05:53

Good News Money Preview 01:16

Good News Money Exercise - Month 0 Preview 02:59

Good News Money Exercise - Straight-Line TI & LC Costs Preview 03:15

Good News Money Exercise - Additional Loan Funding Preview 03:40

Good News Money Exercise - Finalization Preview 10:08

Construction Loan Modeling Preview 01:40

Construction Loan Modeling - Introduction Preview 03:42

Construction Loan Modeling - Part 1 Preview 04:14

Construction Loan Modeling - Part 2 Preview 08:24

Construction Loan Modeling - Part 3 Preview 04:52

Construction Loan Modeling - Part 4 Preview 06:28

Yield Maintenance Modeling Preview 01:08

Yield Maintenance Exercise - Outstanding Loan Balance Preview 03:18

Yield Maintenance Exercise - Finalization Preview 04:15

Advanced Loan Sizing Modeling Preview 01:06

Advanced Loan Sizing Exercise Preview 04:36

Advanced Equity & Waterfall Modeling Introduction Preview 02:00

Quarterly & Annual Distribution Modeling Preview 01:12

Quarterly & Annual Distribution Modeling - Part 1 Preview 03:55

Quarterly & Annual Distribution Modeling - Part 2 Preview 09:03

Quarterly & Annual Distribution Modeling - Part 3 Preview 03:42

Uneven Waterfall Cash Flow Dates Preview 00:49

Uneven Waterfall Cash Flow Dates Exercise Preview 07:31

Equity Multiple Waterfall Hurdles Preview 00:52

Equity Multiple Waterfall Hurdles Exercise - Part 1 Preview 04:48

Equity Multiple Waterfall Hurdles Exercise - Part 2 Preview 02:51

Equity Multiple Waterfall Hurdles Exercise - Part 3 Preview 06:17

Advanced Case Study File Download Preview 00:07

Advanced Case Study - Introduction Preview 01:23

Advanced Case Study Model Introduction Preview 03:34

Valuation Information Preview 04:48

Return Metrics Preview 02:57

Cash Flow Timing Preview 06:40

Cash Flow Timing Formatting Preview 01:19

Revenue Line Item Modeling Preview 02:40

Percentage of Renovation Complete & Freezing Panes Preview 03:26

Percentage of Renovation Complete - Finalization Preview 04:53

Gross Potential Revenue Preview 07:29

Vacancy, Other Income, & EGR Preview 04:45

Expense Line Items & PM Fees Preview 02:41

Operating Expenses Preview 04:24

Month 1 Property Taxes Preview 03:41

Insurance & NOI Preview 05:18

Capital Reserves Preview 04:07

Renovation Expenses & CF Before DS Preview 05:31

CF Before DS - Timing Triggers Preview 02:25

Working Capital Contributions & Ending Balance Preview 04:03

Working Capital Ending Balance Finalization Preview 02:14

Acquisition & Sale Information Preview 06:26

Acquisition Loan & Refinancing Build-Out Preview 04:00

Acquisition Loan Proceeds & Loan Fees Preview 06:25

Acquisition Principal Payment Preview 04:10

Acquisition Interest Payment - Formula Update Preview 00:21

Acquisition Interest Payment Preview 03:37

Acquisition Loan Payoff Preview 03:36

Refinancing Loan Proceeds & Loan Fees - Formula Update Preview 00:30

Refinancing Loan Proceeds & Loan Fees Preview 07:24

Refinancing Principal Payment Preview 03:36

Refinancing Interest Payment Preview 02:55

Refinancing Loan Payoff & Levered Net CF Preview 03:31

Property Tax Resets - Finalization Preview 05:07

Working Capital - Finalization Preview 04:58

IRR, Equity Multiple, & MIN CF Value Preview 03:25

Valuation Finalization Preview 05:51

Advanced Case Study Solution File Download Preview 00:06

How To Use This Information Preview 02:21

Where To Go From Here Preview 01:30

Bonus Lecture - The Next Step Preview 00:34