Introduction to Real Estate Debt

Case Summary – Financing the Foles

Financing the Foles – War Room

Debt and the Real Estate Capital Stack

Building An Amortization Schedule

Modeling Alternative Interest Calculation Methods

Calculating Payment and Loan Payoff

Loan Metrics and Sizing Real Estate Loans

Levered Cash Flows and Returns

Financial Modeling For Development – Draw Schedule Basics

Understanding The Interest Reserve Calculation and Circular References

Projecting Equity Over the Development Period

Projecting Debt And The Interest Reserve Over the Development Period – With Circular References

Projecting Debt And The Interest Reserve Over the Development Period – Without Circular References

Finishing The Development Model – Budget, Levered Cash Flow and Return Metrics