Real Estate Financial Modeling

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real estate financial modeling courses

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Real Estate Financial Modeling Accelerator (Updated Nov 2024)

Prior to launching the Accelerator program, Michael and I fielded email after email requesting a more structured real estate financial modeling training program on the site. Over the years, we've covered hundreds of real estate modeling…

Preferred Return – Simple Interest vs. Compound Interest

A concept common to real estate partnership structures, preferred return refers to the preference given to a certain class of equity partners when distributing available cash flow. The preferred return is generally calculated as either a percentage…
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Roll Up Your Monthly Cash Flow Line Items Into Annual Periods Using Only One Formula For The Whole Sheet

While building out my hotel development model (currently underway), I decided to take a break and record a video about how I roll up the monthly cash flow line items on my Monthly Cash Flow sheet into annual cash flow line items on a separate…
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Hotel Acquisition Model – The Basic Model (Updated 10.9.2019)

The initial goal for the original Hotel Acquisition Model was to design a hotel proforma that would enable users to get deep into the weeds of practically every line item in their hotel analysis. Although I am super happy with how that hotel…
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30/360, Actual/365, and Actual/360 – How Lenders Calculate Interest on CRE Loans – Some Important Insights

(Updated August 7, 2019 to include a Watch Me Build video and Downloadable file) Commercial real estate lenders commonly calculate loans in three ways: 30/360, Actual/365 (aka 365/365), and Actual/360 (aka 365/360). Real estate professionals…
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Tutorials For The Hotel Valuation Model (Updated 07.23.19)

Welcome to the A.CRE Hotel Valuation Model's Tutorial Page. On this page you will find all the tutorials for the A.CRE Hotel Valuation model in Excel. There is a lot to learn within this model and over time, I'd like to show you both how to…
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Using the Floating Summary Box in Real Estate Modeling

Over the next few minutes, I'll share a great modeling tip for efficiently visualizing the more salient metrics in your real estate models. Now I should mention, this is a tip I shared a few years ago. But given the complexity of many of the…
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Using the OFFSET Function in Real Estate Financial Modeling

In a previous post, I showed you how to use the OFFSET function to create dynamic lists in Excel. As you become more comfortable using this function in real estate financial modeling, you'll find that it has almost infinite applications when…
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A.CRE 101 – Create Smart Drop-Down Menus in Real Estate Modeling

One Excel feature real estate financial modeling professionals use often is the data validation list. Where data validation is a method of limiting the possible inputs of a cell, the data validation list limits those inputs to a pre-defined…
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Create a Dynamic Real Estate Chart in Excel

Most of the real estate financial models we've shared over the years are dynamic to analysis period. Meaning, we've included an input to adjust the length of the analysis period, and the model will adjust the results accordingly. This is…
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3-Tiered Acquisition Debt Module

This is a 3-tiered debt module that will allow the user to add one to three tiers of debt to his or her real estate DCF model. Includes the option to layer in senior debt, secondary debt, and mezzanine debt; calculate interest on either…
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Quick Tutorial: Add Line Items to OpSt Sheet in All-in-One

I was recently asked the question whether it's possible to add more other income or operating expense line items to the MF-OpSt or ORI-OpSt worksheets in my All-in-One Model for Underwriting Acquisitions and Development. Short answer is: out…
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A Few Indispensable Keyboard Shortcuts for Moving Quickly Around Excel

The more time you spend modeling real estate in Excel, the more important keyboard shortcuts become. It's partly about speed - using keyboard shortcuts is much faster than using the mouse. But it's also about impressing your peers; whether you…
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Excel-Based Restaurant Selection Tool for the Overly Indecisive

We're celebrating some much deserved time off from work, and so what better way to spend the time than to make a completely unnecessary (but fun!) Excel model. I call this the indispensable Excel tool for the overly indecisive, and it's basically…
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Hotel Proforma Basics – Hotel Cash Flow Projection

Hotels are a unique asset in the commercial real estate world and are underwritten differently as a result. Probably the most obvious difference is the duration of the 'lease term' of the tenant, which is usually daily to weekly. Another major…