Since releasing the first beta version of the All-in-One Underwriting Model, we’ve fielded hundreds of emails related to the model. Inquiries range from questions to feature requests to thank yous. We welcome the chance to interact with our readers, and acknowledge that the model will only become as good as the feedback we receive from […]
This walkthrough, our seventh in the series, explains how the Ground Lease Valuation Module works and how to implement this tool into your analysis. The All-in-One Model includes two methods to account for a ground lease. The first is to simply include the ground lease payments in the operating expenses (above NOI), thus reducing the value […]
In the unlikely event you’ve visited my LinkedIn page lately or happened upon the REFM Certification Holders, you might have noticed that over the last year I’ve completed my REFM Excel for Real Estate certification. In coming across this obscure fact you might have further wondered – uh, why? I mean, I already have a full-time […]
A series of posts on what commercial real estate professionals do. These posts cover a variety of job functions including acquisitions, development, asset management, consulting, investment banking, advisory, academia, and much more.
This walkthrough, our sixth in the series, takes you through the entire process of underwriting an apartment acquisition opportunity using the All-in-One Model’s new multifamily module. I’ve created hypothetical assumptions for this exercise written out in PDF format (download link below) and then use those assumptions to assess an appropriate purchase price for this opportunity. […]
Michael and I are excited to announce the release of the Adventures in CRE Job Board. This effort is the culmination of almost of a year’s worth of deliberation, planning, design, and networking effort. And while this is only the beginning (we’re calling this phase our “Early Launch”), we’re nonetheless enthusiastic about the potential for this new […]
I think its important to point out that my All-in-One (Ai1) Underwriting Model for Real Estate Development and Acquisition is not a surefire replacement for your non-Excel valuation/underwriting solutions. In fact, it’s likely you (or your employer) chose to use another tool in large part because of the limitations of Excel. And Excel certainly has its […]
This walkthrough, our fifth in the series, explains how the Residual Land Value Calculation module works and how to implement this tool into your analysis. You might recall, a few months back we discussed the concept of residual land value and shared a basic residual land value model. This module expands on the concepts discussed in that […]
This walkthrough, our fourth in the series, explains how the Rate Matrix module works and how to implement this tool into your analysis. The rate matrix concept is new to this site, and not commonly used in the industry. Nonetheless, given that the All-in-One strives to one day become a template model for use by organizations, […]
This walkthrough, our third in the series, takes you through the entire process of modeling a simple development investment. I’ve created hypothetical assumptions for this exercise written out in PDF format (download link below) and then use those assumptions to assess the viability of the investment. I model a hypothetical retail development investment using the All-in-One […]
Version notes for the All-in-One Underwriting Model for Real Estate Development and Acquisition are found here as well as in the ‘Version’ tab of the Excel model. Download the Model Version 0.3.1 (March 11, 2017) Added version notes section Misc. formatting fixes Added link to model documentation online Added data validation to construction length on Budget tab […]
Following the housing crash of 2007 – as regulations were introduced and credit tightened – emerging companies were left with little or no access to the capital markets. In an effort to ameliorate the credit crunch, Congress drew up the Jumpstart Our Business Startups Act (JOBS Act for short), broadening the scope of who can […]
I have two updates/improvements to previous posts I thought I’d share with our readers today; call it, bonus content! The first, is a dynamic Gantt Chart tool I recently added to my Construction Draw and Interest Calculation Model. The second, is an enhancement to my post on writing conditional weighted average formulas that shows you how to include multiple conditions in […]