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Description

UPDATE: Instructor Symon He hosts near daily LIVE office hours on TikTok 10:30PM PDT. Find him @SymonHe.
I’m very excited to unveil this brand-new course as part of my ongoing series in real estate investing.   Although the course is new, this is not my first course.  Just take a look at my thousands of 5-star reviews from my other courses to see the value and commitment I give to my students.
Gregory A. Weinstein on my Multifamily Investment Course- 5 Stars
“Course material is comprehensive, presented in an engaging manner and the modeling tools have real-world applicability making this course valuable!”
 
Mark Forest on my ‘Fundamentals of Real Estate Course - 5 Stars
“There is a tremendous amount of information in this course that far surpasses anything else offered by Udemy.
 
Jason Mora on my ‘How To Analyze Rental Properties Course - 5 Stars
“I'm loving it so far. The content is top notch. The instruction is clear and concise. The pace is perfect and the extra resources are enormously helpful. Well done!”
The commercial real estate game has long been reserved for big financial institutions and deep-pocked private investors,
but not anymore.
 
With the emergence of crowd-investing platforms and the right investment knowledge, 
practically anyone can start investing in commercial real estate today.
 
Including you.
 
Whether you're new to real estate investing or have dabbled in residential real estate, getting an understanding of commercial real estate can seriously expand your investment horizons.  However, you have to have some foundational knowledge before you get started.
 
With this course, you'll take the first crucial steps toward understanding commercial real estate.
 
Why should you learn from us?
 
I have an
 MBA from Stanford University
and have worked on many commercial real estate properties across a dozen asset types in multiple markets. I even helped create the underwriting standards for a 2000-store private restaurant chain, helping them open new locations around the world.
 
And as a
 licensed broker and real estate consultant
, I've helped many private clients with locating, evaluating, and structuring investment opportunities including multi-million dollar commercial property acquisitions and 1031 exchanges.
 
My co-instructor, Brandon Young, has a 
Masters in Real Estate Finance & Development
from the University of North Carolina Charlotte as well as a
Masters in Finance
from Tulane University. He has over a decade of combined financial and real estate experience, including acquisitions and development.
 
Collectively, through our experience working with real estate private equity funds, private investors, development groups, and working within corporate real estate divisions, Brandon and I have involved commercial real estate deals worth well over
$1B in aggregate completion value
.
 
Enroll in this course and you will learn to speak confidently about the core concepts of commercial real estate.
 
We’ll start you off with simple foundational concepts, using easy-to-follow explanations (on purpose). We'll cover concepts like the replacement cost, highest and best use, absorption, and many key financial concepts critical to understanding commercial real estate.
We'll then dive into more than a dozen detailed case studies inspired by real-world commercial deals we've previously worked on, all paired with custom-built investment models so you can learn by doing, exactly how professionals evaluate commercial deals across a wide range of asset types.
 
Glenn Levine on my ‘How To Analyze Multifamily Opportunities’ Course - 5 Stars
 
“The instructor is exceptionally knowledgeable and keeps the course very informative and interesting!”
 
Ethan Wong on my ‘Pre-Investing” course - 5 Stars
“Yet another successful course from Symon. Even though I have some experience as an investor, I found this class to be quite valuable. Although I was already quite familiar & comfortable with the course material and topics, the experiences gained from completing the exercises showed me where I have a couple weaknesses in my network. That alone made the class worth my investment…”
 
 
This course does assume an understanding of basic real estate investment analysis 
and is great for those build a solid foundation in commercial real estate as well as those with experience looking for a detailed, but efficient, refresher. 
 
If you want to build a solid foundational knowledge in commercial real estate, this is your course.
 
What’s holding you back?
 
Are you afraid this course won’t work?  I promise 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, enroll today.
We look forward to helping you succeed!
~Symon & Brandon
Who this course is for:
Those seeking to a build a solid foundational knowledge in commercial real estate
Investors who want to better understand commercial real estate before investing
Professionals seeking exploring commercial real estate as a potential career path

What you'll learn

Be able to speak intelligently about commercial real estate

Understand the key financial concepts for commercial real estate

Understand and apply key analysis techniques to commercial real estate

Understand the differences between the core asset classes

Understand the emerging trends that will shape the future of commercial real estate

Requirements

  • You will need a copy of Adobe XD 2019 or above. A free trial can be downloaded from Adobe.
  • No previous design experience is needed.
  • No previous Adobe XD skills are needed.

Course Content

27 sections • 95 lectures
Expand All Sections
1-Course overview
5
1.1-Welcome
1.2-Why Investment Analysis? Part 1 of 2
1.3-Why Investment Analysis? Part 2 of 2
1.4-Investment Analysis Process Overview
1.5-Check out my latest articles
2-Foundations: Getting Acclimated with Commercial Real Estate
5
2.1-What is Commercial Real Estate?
2.2-Commercial Real Estate Asset Classes
2.3-Replacement Cost
2.4-Highest and Best Use
2.5-Deal States
3-Foundations: Core Financial Concepts
19
3.1-Key Financial Concepts Overview
3.2-The Capital Stack
3.3-Revenue Items
3.4-Operating Expenses
3.5-RUBS
3.6-Net Operating Income
3.7-Capital Expenditures
3.8-Gross Rent Multiplier
3.9-Vacancy - Economic and Physical
3.10-Rent Roll
3.11-Delinquencies and Bad Debts
3.12-Debt Service
3.13-Cash Flow
3.14-Return on Assets
3.15-Cash on Cash Return (Return on Equity)
3.16-Capitalization Rates
3.17-Sources and Uses
3.18-Replacement Reserves
3.19-Carried and Promoted Interest
4-Foundations: Commercial Real Estate Financing
11
4.1-Types of Commercial Real Estate Loans
4.2-Construction Loans
4.3-Permanent Loans
4.4-Refinancing
4.5-Mezzanine and Bridge Loans
4.6-What Lenders Care About
4.7-Loan to Value (LTV)
4.8-Loan to Cost (LTC)
4.9-Debt Service Coverage Ratio
4.10-Debt Yield
4.11-Maximum Loan Calculation Example
5-Foundations: Spotting Opportunities
6
5.1-Spotting Opportunities Overview
5.2-City Planning and Development
5.3-Land Use and Zoning
5.4-Demographic Trends
5.5-Job and Employment Outlook
5.6-Approved Projects - Local and Regional
6-Foundations: Introduction to Commercial Leases
2
6.1-Elements of Commercial Leases
6.2-Types of Commercial Leases
7-Foundations: Commercial Real Estate Risks
11
7.1-Top 10 Risks Overview
7.2-Sponsor Risk
7.3-Debt Risk
7.4-Cap Rate Risk
7.5-Tenant Risk
7.6-Leasing Risk
7.7-Physical Asset Risk
7.8-Entitlement Risk
7.9-Construction Risk
7.10-Market Risk
7.11-Geographic Risk
8-Intro to Case Studies
1
8.1-Introduction to the Investment Model
9-Industrial Warehouse Example
3
9.1-Industrial Asset Class
9.2-Warehouse Subdivision Example
9.3-Industrial Warehouse Portfolio Example
10-Retail Example
4
10.1-Retail Asset Class
10.2-Simple Retail Example
10.3-Anchored Retail Acquisition
10.4-Mixed Use Retail Example
11-Office Example
4
11.1-Office Asset Class
11.2-Simple Neighborhood Office Example
11.3-Downtown High Rise Office Example
11.4-Medical Build to Suit Development Example
12-Multifamily Example
3
12.1-Multifamily Example Overview
12.2-Multifamily Example - Front-loaded Renovation
12.3-Multifamily Example 2 - Backloaded Renovation
13-Specialty Assets
5
13.1-Specialty Assets
13.2-Self Storage Example
13.3-Economy Hotel Example
13.4-Parking Garage Example
13.5-Landing Banking Example
14-Congrats!
1
14.1-Congratulations!
15-Bonus: Easy Way Analyze Rental Properties, BRRRR’s, Flips and Wholesale Deals
1
15.1-Introduction to DealCheck
16-Appendix: Real Estate Cycles
6
16.1-Real Estate Cycles Overview
16.2-The Recovery Phase
16.3-The Expansion Phase
16.4-The Hypersupply Phase
16.5-The Recession Phase
16.6-The Next Bust?
17-Appendix Measures of Returns
12
17.1-What makes a good investment?
17.2-Discounted cash flow analysis and net present value
17.3-Discount rate
17.4-NPV demonstration
17.5-Measuring Efficiency - Internal Rate of Return
17.6-IRR demonstration
17.7-Measuring magnitude - cash multiple
17.8-How to use the measures
17.9-NPV vs IRR
17.10-Terminal value of an indefinitely held rental property
17.11-Investment yields and capitalization rates
17.12-Measures of return summary
18-Appendix: Impact of Debt Leverage
4
18.1-What is debt leverage?
18.2-Interest only vs amortized loans
18.3-The amortization calculator
18.4-How debt impacts investment returns
19-Appendix: Investment Strategies
5
19.1-Intro to investment strategies
19.2-Core investment strategy
19.3-Opportunistic investment strategy
19.4-Value-added investment strategy
19.5-Investment strategies summary
20-Appendix: Intro to the Waterfall Framework
18
20.1-Why do you need the waterfall
20.2-Why invest with other people?
20.3-Risk of investing with othe rpeople
20.4-Introduction to the waterfall framework
20.5-Waterfall example overview
20.6-No waterfall
20.7-2-tier waterfall
20.8-3-tier waterfall
20.9-4-tier waterfall
20.10-Summary of waterfall example
20.11-Which waterfall to use?
20.12-What happens if the investment loses money?
20.13-Money losing waterfall example
20.14-Waterfall example - rental income property
20.15-Waterfall example - fix and flip investment
20.16-Waterfall example - restaurant startup
20.17-Waterfall example - revisiting the parking garage
20.18-Other situations to use the waterfall
21-Appendix: Deep Dive into the Waterfall Framework
5
21.1-Deep Dive into the Waterfall Framework Overview
21.2-Modeling the Preferred Return
21.3-Modeling the IRR and Cash Multiple Hurdles
21.4-Modeling the Catchup
21.5-Final Calculations for the Waterfall
22-New to Udemy?
2
22.1-OPTIONAL: How to use Udemy, download files, etc...
22.2-Udemy Technical Issues