The Advanced Real Estate Pro Forma Modeling Master Class
What you'll learn
- Learn how to build dynamic, institutional-grade commercial real estate pro forma investment models from scratch for office, industrial, and retail properties
- Learn how to model commercial lease structures and reimbursements all in Excel (without expensive software)
- Learn how to create institutional, professionally formatted commercial real estate pro forma models to present to investors and partners
- Access to Microsoft Excel for Mac or PC, Mac Numbers, or Google Sheets
- A basic understanding of real estate finance and financial modeling is recommended
Want to learn how to build professional, dynamic, institutional-quality commercial real estate pro forma models from scratch for office, retail, and industrial properties in Microsoft Excel?
This course will take you by the hand and walk you step-by-step through the entire process of building a complete, dynamic, eight-tab commercial real estate pro forma model, starting with a blank Excel workbook ending with a complete commercial real estate pro forma acquisition model that YOU'VE created, from scratch.
When I was first learning real estate financial modeling, I would download real estate investment models or real estate investment calculators on the internet, only to feel overwhelmed and frustrated by the complex functions and formulas everywhere in the Excel file. And once I felt like I was getting used to one of these things, I still was petrified to touch or change anything because I didn't want to "break" the model. And honestly, even if I understood it and I believed the model was working correctly, I still had no idea if I could even trust the calculations in the first place.
If you've ever felt any of these things, this course will pull back the curtain and uncover the "Black Box" that most real estate financial models appear to be. By the end of this course, you'll be able to build a dynamic, professional-quality commercial real estate pro forma model from scratch, and by the time you finish the last lecture, you'll have an institutional-quality model that you've built from start to finish.
This course will teach you how to build a commercial real estate pro forma investment model the way the largest and most sophisticated private equity real estate firms look at deals. At the end of this course, you will be able to:
Build an institutional-quality, dynamic commercial real estate pro forma investment model for office, retail, and industrial properties from scratch (without expensive software)
Model advanced real estate financing structures like mezzanine debt, future funding for renovation projects, prepayment penalties, dynamic loan sizing based on multiple constraints, and more.
Create a dynamic sources and uses table that tracks equity investments throughout the project, so you'll know exactly how much you'll need to fund a deal up-front
Build dynamic working capital accounts to automatically fund operating shortfalls to prevent unexpected equity "capital calls" to investors
Model complex commercial real estate lease structures in Excel including NNN, FSG, MG, and BYS reimbursement structures, custom rent escalation schedules, percentage rent, and more
Create dynamic re-leasing scenarios based on renewal probability and re-leasing assumptions to create future lease cash flows on autopilot
Model investor distributions on a monthly, quarterly, and annual basis and be able to switch between the three options quickly and easily
Create custom charts and graphs that automatically populate in your model, that you can use to present more clearly and professionally to investors, lenders, and partners
Build formula "checks" to error-proof your work and feel confident your calculations are accurate and can be trusted
This course is perfect for you if:
You're a college student or graduate student looking to break into real estate investment after graduation, and you're looking to add the key technical skill sets to your arsenal that will put you head and shoulders above the competition and allow you to land a lucrative career opportunity in the field
You're an existing real estate professional looking to advance your career, increase your compensation, and break into the real estate investment industry.
You've have a basic understanding of real estate finance and financial modeling, and you're looking to take your real estate financial modeling skill set to an expert level to land a better job, make more money, or do more profitable real estate deals.
Here's what our students have had to say:
★★★★★ "This course really has it all. I model deals for experienced private equity real estate investors, and the principals I work for had never used a proforma as dynamic, versatile, and visually appealing as this model. If you need to analyze a commercial deal you should absolutely take the time to work through this course. Thanks, Justin! Already looking forward to the next course."
★★★★★ "Best class I've taken, truly builds a phenomenal model with institutional quality complexity. Take this class!"
★★★★★ "Amazing, above expectations!"
If you have a solid understanding of real estate finance, and you're looking to apply that knowledge to analyze commercial real estate investment opportunities, enroll now and let's get started building this model together today. Looking forward to having you in the course!
Who this course is for:
- Real estate investors and professionals who want to learn how to create dynamic, institutional-quality commercial real estate pro forma models from scratch for office, industrial, and retail properties
- Current real estate professional who want to become an expert in real estate financial modeling to advance their career and make more money
- Aspiring commercial real estate investment professionals who want to begin a lucrative career in commercial real estate investing
Master real estate financial modeling, advance your career, and earn more money.
If you’re an aspiring real estate investment professional looking to break into the real estate investment field, or a current real estate professional looking to advance your career and increase your compensation, you’re in the right place.
My name is Justin Kivel, and I’m a real estate investment professional with a love for teaching. Throughout my career, I’ve worked on over $1.5 billion of closed acquisitions across multifamily, retail, office, and mixed-use properties. I’ve had the opportunity to work with some of the brightest minds in real estate investing and have spent almost a decade in the industry across private equity, finance, and brokerage roles.
Unfortunately, most of what I know today I had to learn on the job. Although great courses exist on Microsoft Excel and financial modeling, I couldn’t find a resource that was specifically tailored toward real estate investment professionals that would actually walk me through exactly what I needed to know to succeed in the real estate investment industry.
These courses are that resource.
After dozens of phone calls and coffee meetings with college students and aspiring real estate investment professionals, I realized that most people were asking exactly what I was asking when I was in their shoes.
“What skills do I actually need to know to break into the real estate investment industry, or advance in my current real estate investment career?”
These courses were created to teach you those skills.
Our students have gone on to land jobs at some of the top real estate investment, development, and brokerage firms across the globe, including Brookfield Asset Management, Hines, Starwood Capital Group, LaSalle Investment Management, Eastdil Secured, JLL, CBRE, and many more.
Over 40,000 current and aspiring real estate investment professionals have used these courses to help them ace real estate financial modeling interview exams to land their dream jobs, secure consulting gigs with top private equity firms, build (and rebuild) entire financial models from scratch, and confidently analyze their own potential real estate investments.
So whatever that next step in your real estate investment career looks like, these courses are here to help you get there as quickly and efficiently as possible.
Looking forward to seeing you in class!