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Description

Learn real estate financial modeling. Advance your career. Make more money. 
Built by an instructor with over eight years of real estate private equity finance experience modeling over 1.5 billion dollars of closed commercial real estate transactions, this course was designed to take you from complete beginner with no knowledge of real estate financial modeling to a real estate financial modeling pro. The skills and concepts you will learn in this course can be used to help you break into the real estate private equity industry, increase your compensation at your existing real estate job, or confidently analyze and model a commercial real estate investment on your own.
This course was created to help our students:
Begin a lucrative career in the commercial real estate private equity industry - 
According to CEL & Associates, Inc.,
the 2022 median total compensation for an acquisitions associate in retail, office/industrial, and multifamily was 142K, 150K, and 130K, respectively.
This course will teach you the core fundamental Excel financial modeling skills necessary to land one of these jobs and succeed in your first commercial real estate investing role.
Increase overall compensation and career opportunities in their current real estate role - 
Real estate agents, property managers, construction managers, and architects all have extremely valuable skills that are highly desirable in the commercial real estate finance industry. Whether you want to earn more money in your current role or make a transition into commercial real estate acquisitions, this course will give you the foundational knowledge to take your real estate investing career to the next level.
Confidently model large real estate transactions - 
For property acquisitions larger than single-family homes, having the ability to confidently create a financial model projecting real estate investment returns is essential to buying profitable deals and garnering the confidence of your investors. Whether you are modeling a real estate investment you are looking to buy with your own money or leading a real estate syndication, strong financial modeling skills are an essential component of the real estate investment process.
This course will teach you the key fundamentals necessary in order for you to be able to model real estate investment transactions accurately, quickly, and efficiently.
Here's what some of our students have said about the course:
★★★★★
"Excellent course that teaches you financial modeling in Excel for CRE. I purchased the course after starting a new job as valuation analyst for a RE asset manager and it has helped me immensely. I have a background in PE funds and my excel skills are fairly advanced so for me the added value was understanding the specificities of CRE. I now look forward to completing the advanced RE modelling course. This instructor is great: no fluff, clear explanations, top notch material and step-by-step directions. Justin is also very responsive with answering your queries. I highly recommend the course!"
★★★★★
"This course is great. I learned everything I needed to build a model for an interview for a Financial Analyst role at a Real Estate Private Equity Fund. And I got the job. I have since gotten other courses by Justin, as they are what I need to get me up to speed at my new job. Also, Justin is great at answering questions when I get stuck and pointing me in the right direction."
★★★★★
"Excellent Course! Thank you for all your hard work in transforming a complex concept into an easy to understand format. This course has multiplied my understanding of financial modeling and the use of Excel. I learned more through this platform than the traditional institutional setting. A great resource and educator."
★★★★★
"Overall, this course was such an awesome experience! As a CRE investor as well, I took this course with the goal of it helping to rebuild my financial model and, what can I say, mission accomplished! From the structure, to the pace, the exercises, Justin's CRE knowledge and Excel tips/tricks - it was exactly what I was looking for and more!"
★★★★★
"Cannot believe the value in this course!! Best deal in real estate education. Thank you Justin, can't wait to take the next course. I could not recommend it more."
★★★★★
"This is a top notch course. The self-pace is perfect for me and it helped refresh all of the concepts that I learned in my grad school real estate courses. Just follow along and practice the examples and you'll extract tremendous value from a modeling perspective!!"
★★★★★
"Justin is awesome! His teaching style makes learning very intuitive. I would recommend this class for anyone that is trying to break into CRE or expand their current foundation of CRE. I was recommended by a friend who spent $600 on a course but found this one to be more helpful and easier to follow/understand."
★★★★★
"Superb course that teaches you the fundamentals of CRE modelling you need to know. Justin is a really good lecturer and he is very responsive with answering your queries, not just about the course material but even things related to your career in CRE. I would recommend the course to anyone looking to understand the fundamentals of CRE modelling."
★★★★★
"Wow! This course and Justin's other courses are the equivalent of an MBA level curriculum. If you are willing to put in the time and effort you will benefit."
If you're looking to learn to model commercial real estate investments to jump-start your career, make more money in your current job, or do your own big deals, you're in the right place.
Join us!
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.

What you'll learn

The ability to build a functional, dynamic real estate financial model from scratch.

The skill set to model real estate transactions for multiple different asset types and solve for key investment metrics evaluated by real estate firms.

A substantial increase in speed and efficiency in Microsoft Excel by learning powerful tools and functions.

A mastery of the foundational analytical and financial modeling tools necessary to break into the real estate private equity industry and model deals.

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-Introduction
5
1.1-Welcome & What We Will Cover
1.2-Who This Course Is For
1.3-About The Instructor & Student Success Stories
1.4-Download Me First!
1.5-Disclaimer
2-The Property Cash Flow Statement
10
2.1-The Property Cash Flow Statement Overview
2.2-Effective Gross Revenue - Part 1
2.3-Effective Gross Revenue - Part 2
2.4-Operating Expenses
2.5-Net Operating Income (NOI)
2.6-Capital Expenses
2.7-Debt Service
2.8-Purchase, Sale, & Financing Metrics
2.9-Unlevered & Levered Cash Flow
2.10-A Note About Income Taxes
3-Real Estate Financial Modeling Fundamentals
7
3.1-Setting Expectations
3.2-Real Estate Financial Modeling 101 & Dynamic Modeling
3.3-Absolute & Mixed References
3.4-Custom Formatting
3.5-Drop-Down Lists
3.6-Real Estate Financial Modeling Color Codes
3.7-Gridlines & The "Steak Sauce" Cell
4-Real Estate Financial Modeling Excel Hotkeys & Shortcuts
8
4.1-Navigating Worksheets & Workbooks
4.2-Controlling Columns & Rows
4.3-Text Formatting
4.4-Font Style
4.5-Borders
4.6-Alignment
4.7-Excel Function Shortcuts
4.8-Copy, Paste, & Paste Special
5-Real Estate Financial Modeling Excel Functions & Formulas
17
5.1-IF Statements
5.2-AND & OR
5.3-SUMIF & SUMIFS
5.4-COUNTIF & COUNTIFS
5.5-AVERAGEIF & AVERAGEIFS
5.6-VLOOKUP & HLOOKUP
5.7-INDEX & MATCH
5.8-Weighted Averages (Using SUMPRODUCT)
5.9-CAGR (Using RATE)
5.10-ROUND, ROUNDUP, & ROUNDDOWN
5.11-DATEDIF
5.12-YEARFRAC & EOMONTH
5.13-PV
5.14-FV
5.15-NPER
5.16-RATE
5.17-PMT
6-Modeling Property Operations
12
6.1-GPR, Vacancy, & Credit Loss
6.2-Percentage Rent
6.3-The Pro Rata Share
6.4-NNN Reimbursements
6.5-FSG Reimbursements
6.6-MG Reimbursements
6.7-BYS Reimbursements
6.8-The Operating Expense Ratio
6.9-Renewal Probability Modeling
6.10-Cash Flow Modeling With Renewal Probability
6.11-Leasing Commissions
6.12-Tenant Improvement (TI) Allowances
7-Real Estate Debt Modeling
13
7.1-Loan Terms & Amortization vs. Term
7.2-Loan Functions & PMT
7.3-IPMT & PPMT
7.4-CUMIPMT & CUMPRINC
7.5-Building a Loan Amortization Schedule
7.6-Loan-To-Value (LTV)
7.7-Loan-To-Cost (LTC)
7.8-Debt Service Coverage Ratio (DSCR)
7.9-Debt Yield
7.10-The Loan Constant
7.11-Loan Sizing (LTV & LTC)
7.12-Loan Sizing (DSCR & Debt Yield)
7.13-Dynamic Loan Sizing Build-Out
8-Real Estate Investment Analysis
8
8.1-Key Real Estate Investment Analysis Metrics
8.2-Capitalization (Cap) Rates
8.3-Net Present Value (NPV)
8.4-Internal Rate of Return (IRR)
8.5-Equity Multiple
8.6-Cash-on-Cash Return
8.7-Positive vs. Negative Leverage
8.8-XNPV vs. XIRR
9-Real Estate Pro Forma Modeling
9
9.1-Real Estate Pro Forma Modeling Overview
9.2-Monthly Cash Flow Modeling
9.3-Monthly Growth & Toggle Triggers
9.4-Modeling NOI
9.5-Modeling Capital Expenses
9.6-Modeling Principal & Interest Payments
9.7-Modeling Purchase & Sale Metrics
9.8-Modeling Loan Proceeds & Loan Payoffs
9.9-Modeling Return Metrics
10-Data Manipulation & Scenario Analysis
5
10.1-1-Variable Data Tables
10.2-2-Variable Data Tables
10.3-Conditional Formatting
10.4-Goal Seek
10.5-Scenario Analysis
11-Private Equity Real Estate Interview Exam
17
11.1-PERE Exam Introduction
11.2-PERE Exam Instructions
11.3-Building The Pro Forma Timeline
11.4-Modeling GPR
11.5-Modeling Vacancy & Net Rental Revenue
11.6-Modeling Other Income & EGR
11.7-Modeling Operating Expenses & NOI
11.8-Modeling Capital Improvements, Reserves, & Cash Flow Before Debt Service
11.9-Modeling Principal & Interest Payments
11.10-Modeling Purchase & Sale Metrics
11.11-Modeling Loan Proceeds & Loan Payoff
11.12-Going-In Cap Rate & Loan Constant
11.13-Unlevered & Levered IRR
11.14-Unlevered & Levered Cash-on-Cash
11.15-Unlevered & Levered Equity Multiple
11.16-DSCR, Debt Yield, Exit LTV, & Expense Ratio
11.17-Running The Sensitivity Analysis
12-Wrapping Up
1
12.1-Where To Go From Here
13-Bonus Lecture
1
13.1-Bonus Lecture - The Next Step