The Advanced Real Estate Development Modeling Master Class
What you'll learn
- Learn how to build dynamic, institutional-grade commercial real estate development pro forma models from scratch for office, industrial, and retail properties
- Learn how to create institutional, professionally formatted commercial real estate development pro forma models to present to investors and partners
- Learn how to model commercial lease structures and reimbursements all in Excel (without expensive software)
- Learn how to build a "Circuit Breaker" to "reset" errors in your model quickly and easily
Requirements
- 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
Description
Want to learn how to build professional, dynamic, institutional-quality commercial real estate development pro forma models from scratch for office, retail, and industrial projects 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 development pro forma model, starting with a blank Excel workbook and ending with a complete commercial real estate development pro forma model that you've created (from scratch).
When I was first learning real estate financial modeling, I would download real estate development models or "calculators" on the internet, only to feel overwhelmed and frustrated by the complex functions and formulas everywhere in these Excel files. And once I felt like I was finally starting to get used to these, I still was scared to change anything because I didn't want to "break" the model. And in most cases, even 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 development 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 development pro forma model the way the largest and most sophisticated CRE development firms look at deals. At the end of this course, you will be able to:
Build an institutional-quality, dynamic commercial real estate development pro forma model for office, retail, and industrial projects from scratch (without expensive software)
Model advanced real estate financing structures like mezzanine construction debt, dynamic permanent loan sizing based on multiple constraints, and more
Create a dynamic sources and uses table, so you'll know exactly how much you'll need to fund a development project
Model complex commercial real estate lease structures in Excel including NNN, FSG, MG, and BYS reimbursement structures, custom rent escalation schedules, percentage rent clauses, and more
Create dynamic re-leasing scenarios based on renewal probability and re-leasing assumptions to create future projected lease cash flows automatically
Model investor distributions on a monthly, quarterly, and annual basis and 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 to investors, lenders, and partners
Build formula "checks" to quickly correct errors and feel confident in your calculations
This course is perfect for you if:
You're a college student or graduate student looking to break into real estate development after graduation, and you're looking to add the key technical skills to your resume that will put you head and shoulders above the competition and allow you to land internships and full-time jobs in the CRE development field
You're an existing real estate professional looking to advance your career and increase your compensation.
You have a basic understanding of real estate finance and you're looking to take your real estate financial modeling skill set to an expert level to more confidently model and analyze your own real estate development deals
Here's what some of our students have had to say about the class:
★★★★★ "Great course, amazing content made relatively simple, all thanks to Justin. Thank you for making these courses and spreading the knowledge of Real Estate Financial Modeling. Really Grateful."
★★★★★ "Very clear explanations! I like the repetition through the different examples to embed learning. It's also helpful to say which shortcuts you are doing so that this becomes second nature."
★★★★★ "Fantastic course, and just like with Justin's other courses: crammed with great content and hands-on application. No fluff. Just into the materials and the mechanics. This course is rather advanced, but it covers a lot of different techniques, methods, and concepts."
If you have a basic understanding of real estate finance and you're looking to apply that knowledge to analyze land acquisition and ground-up commercial real estate development opportunities, I'd love to have you in the class!
Who this course is for:
- Real estate investors and professionals who want to learn how to create dynamic, institutional-quality commercial real estate development pro forma models from scratch for office, industrial, and retail properties
- Current real estate professionals who want to become an expert in real estate financial modeling to advance their career and make more money
- Aspiring commercial real estate development professionals who want to begin a career in commercial real estate development
Instructor
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 70,000 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!