The Advanced Real Estate Financial Modeling Bootcamp
4.6 (401 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,203 students enrolled

The Advanced Real Estate Financial Modeling Bootcamp

The Complete Guide To Advanced Real Estate Financial Modeling For Real Estate Investment Professionals
4.6 (401 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
3,200 students enrolled
Created by Justin Kivel
Last updated 5/2020
English
English [Auto-generated]
Current price: $139.99 Original price: $199.99 Discount: 30% off
5 hours left at this price!
30-Day Money-Back Guarantee
This course includes
  • 10 hours on-demand video
  • 7 articles
  • 3 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
Training 5 or more people?

Get your team access to 4,000+ top Udemy courses anytime, anywhere.

Try Udemy for Business
What you'll learn
  • The ability to model complex real estate investment scenarios in Microsoft Excel.
  • A mastery of real estate financial modeling formulas, functions, and processes.
  • The skill set to model development projects, major renovation projects, and complex debt and equity structures.
  • The ability to manipulate data provided by sellers and brokers quickly and easily to arrive at more precise real estate valuations more efficiently.
Requirements
  • Access to Microsoft Excel for Mac or PC.
  • An intermediate knowledge of real estate finance and financial modeling is recommended.
  • A basic working knowledge of Microsoft Excel is recommended.
Description

Master real estate financial modeling. Advance your career. Make more money.

If you're a current real estate professional looking to beef up your real estate financial modeling skill set, or you're looking to break into the real estate investment industry and want a leg up on your competition, you're in the right place.

The Advanced Real Estate Financial Modeling Bootcamp will take you from a basic knowledge of real estate finance and Excel to an expert real estate financial modeler who can model complex real estate investment scenarios, whether you're looking to land a new job or do your first deal on your own.

This course was built as a "playbook" that you can reference at any time. Need to model a construction loan? Check out the course. Modeling a hold/sell analysis? Log in again. Modeling a cash-out refinance after your renovation? Just check back into the class and follow the steps.

There are a LOT of things that you'll be able to do after taking this course, including:

  • Create dual-metric data tables to sensitize multiple investment return metrics in the same analysis

  • Build a dynamic best/base/weak case analysis that automatically calculates returns based on your upside (and downside) scenarios of any deal

  • Model a next-buyer analysis to precisely project sale proceeds at the end of a real estate investment

  • Partition your IRR so you know what percentage of your returns are coming from cash flow and what percentage are coming from sale (and your risk based on both)

  • Build a hold/sell analysis to calculate the optimal year to sell your property

  • Build out construction loan draws, dynamic equity draws, and capitalized interest to accurately model your capital structure on ground-up development deals

  • Model cash flow distributions on a monthly, quarterly, and annual basis (that can be switched at the press of a button).

This course is perfect for you if:

  • You're a college student or graduate student looking to break into the real estate investment industry 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 at a high level

  • You've bought rental homes or duplexes, and now you're looking to buy larger commercial real estate properties and want to feel confident in your ability to analyze new deals

Here's what some of our students have had to say:

★★★★★ "This course was definitely intense, but the information is invaluable. Justin does a great job explaining everything thoroughly and I've learned more about Excel in my past few courses than my entire life."

★★★★★ "Another great course by Justin. I found this to be the most difficult of all his courses, very advanced. The best part is the comprehensive case study at the end that really ties everything together well. I felt like I learned a lot."

★★★★★ "Loved this course.  Justin's approach is very didactic and on point. If you have strong understanding of the basics in real estate finance, but don't know how to create a model, this course is for you. As Justin said, the secret to succeeding in this particular field is practice. Create the model again from scratch, go back to the solution file to make sure you get the right numbers."

★★★★★ "This was a fantastic course! Justin is very knowledgeable and explains all the concepts extremely well. I feel that this course has helped me very much and I am looking forward to continuing practicing the topics and improving on my skill set. I would highly recommend this course to anyone. Thank you Justin for the great work that you have put together."

★★★★★ "If you are a beginner to a veteran in CRE, and you've always wondered how to analyze an investment and the capital stack behind it, this is the only course you'll ever need. Justin Kivel does an excellent job of breaking down each of the considerations and explains them thoroughly. Thanks to Justin for putting out such a high-quality course!"

If you understand the basics of real estate finance, and you're looking to take your real estate financial modeling skill set to an expert level, I'd love to have you join us. Looking forward to seeing you inside!

Who this course is for:
  • College students or career switchers who want to begin a career in private equity real estate finance.
  • Current real estate professionals who want to boost their compensation by adding valuable financial modeling skills to their existing skill set.
  • Current real estate investors who want to feel confident moving from purchasing 1-4 unit rental properties to larger properties involving more complex financial metrics and data.
Course content
Expand all 164 lectures 10:07:12
+ Advanced Excel Formulas & Functions
23 lectures 01:19:27
Advanced Formulas & Functions - Overview
01:27
Naming Cells
01:16
Naming Cells Exercise & Solution
05:15
Dynamic INDEX(MATCH())
03:02
Dynamic INDEX(MATCH()) Exercise & Solution
08:10
IF(ISNUMBER(SEARCH()))
00:56
IF(ISNUMBER(SEARCH())) Exercise & Solution
06:17
&
01:01
& Exercise & Solution
05:21
Partial COUNTIF
01:19
Partial COUNTIF Exercise & Solution
04:38
YEARFRAC
01:06
YEARFRAC Exercise & Solution
05:48
Sort & Filters
00:41
Sort & Filters Exercise & Solution
06:12
Dynamically Return Unique Values
00:44
Consolidated Unit Mix Exercise - Part 1
06:14
Consolidated Unit Mix Exercise - Part 2
04:22
Consolidated Unit Mix Exercise - Part 3
04:18
MOD(ROW())
00:49
MOD(ROW()) Exercise & Solution
05:10
TRANSPOSE & Array Functions
00:51
TRANSPOSE & Array Functions Exercise & Solution
04:30
+ Advanced Real Estate Deal Analysis
25 lectures 01:29:57
Advanced Deal Analysis Introduction
01:41
Break-Even Occupancy
01:03
Break-Even Occupancy Exercise & Solution
05:00
Break-Even Occupancy - AVERAGE & MAX
03:56
Dual-Metric Data Tables
00:53
Dual-Metric Data Tables Exercise & Solution
05:25
Best-Base-Weak Case Scenario Analysis
01:20
Best-Base-Weak Case Scenario Analysis Exercise & Solution
05:33
Dynamic Next Buyer Analysis
01:36
Next Buyer Analysis - Implied Cap Rate & Purchase Price
04:12
Next Buyer Analysis - Purchase Price & Closing Costs
03:50
Next Buyer Analysis - Cash Flow Before Debt Service
07:50
Next Buyer Analysis - Sale Proceeds, Costs of Sale, & Net Unlevered Cash Flows
04:00
Next Buyer Analysis - Dynamic Unlevered IRR Using INDEX
04:14
Next Buyer Analysis - Unlevered Equity Multiple
02:12
IRR Partitioning
01:18
IRR Partitioning Exercise - CF Net of Sale Proceeds
05:05
IRR Partitioning Exercise - Sale Proceeds
02:26
IRR Partitioning Exercise - Partitioning The IRR
04:00
Hold-Sell Analysis
00:56
Hold-Sell Analysis Exercise - Reversion Year CF
06:01
Hold-Sell Analysis Exercise - Levered Reversion Year CF
06:19
Hold-Sell Analysis Exercise - Levered CF & IRR
02:23
Hold-Sell Analysis Exercise - Dynamic Optimal Sale Year
04:57
+ Advanced Revenue & Expense Modeling
20 lectures 01:21:21
Advanced Revenue & Expense Modeling - Introduction
02:03
Lease-Up Modeling
00:35
Lease-Up Modeling Exercise - GPR
05:57
Lease-Up Modeling Exercise - % of Lease-Up Complete
05:31
Lease-Up Modeling Exercise - Dynamic General Vacancy
03:49
Lease-Up Modeling Exercise - Operating Expenses
03:47
Lease-Up Modeling Exercise - Capital Reserves
03:12
Renovation Premium Modeling
01:27
Renovation Premium Modeling - % of Renovation Complete
05:49
Renovation Premium Modeling - GPR
06:52
Renovation Premium Modeling - Varying Vacancy Rates
03:24
Renovation Premium Modeling - Straight-Line Renovation Costs
02:53
Commercial Lease Roll-Over Modeling
01:28
Commercial Lease Roll-Over Modeling - In-Place Lease Rent
05:21
Commercial Lease Roll-Over Modeling - New & Renewal Lease Rent
08:14
Commercial Lease Roll-Over Modeling - Tenant Improvement Allowances
05:10
Commercial Lease Roll-Over Modeling - Leasing Commissions
03:52
Varied Annual Growth Rates
01:26
Varied Annual Growth Rates Exercise - Market Rent Growth
08:31
Varied Annual Growth Rates Exercise - Vacancy
02:00
+ Advanced Cash Flow Modeling
14 lectures 55:01
Advanced Cash Flow Modeling Introduction
02:56
Annual & Quarterly CF Roll-Up
01:28
Annual CF Roll-Up Exercise - Part 1
03:18
Annual CF Roll-Up Exercise - Part 2
08:44
Quarterly CF Roll-Up Exercise
05:30
Working Capital Accounts
01:36
Working Capital Exercise - Initial Contributions
02:28
Working Capital Exercise - Balance & Distributions
06:55
Fixed & Variable Expense Modeling
01:03
Fixed & Variable Expense Modeling Exercise - Introduction
02:36
Fixed & Variable Expense Modeling Exercise - Expense Build-Out
07:36
Property Tax Reversion Resets
01:49
Property Tax Reversion Resets Exercise - Year 1
04:07
Property Tax Reversion Resets Exercise - Years 2-11
04:55
+ Advanced Debt & Equity Modeling
25 lectures 01:38:02
Advanced Debt & Equity Modeling - Introduction
02:18
Floating-Rate Debt
00:40
Floating-Rate Debt - Transposing Index Rates
05:42
Floating-Rate Debt - Loan Payments
06:40
Refinance Modeling
00:53
Refinance Modeling Exercise - Acquisition Loan Month 0
03:14
Refinance Modeling Exercise - Acquisition Loan Payments & Payoff
05:48
Refinance Modeling Exercise - Refinance Modeling Part 1
02:56
Refinance Modeling Exercise - Refinance Modeling Part 2
05:53
Good News Money
01:16
Good News Money Exercise - Month 0
02:59
Good News Money Exercise - Straight-Line TI & LC Costs
03:15
Good News Money Exercise - Additional Loan Funding
03:40
Good News Money Exercise - Finalization
09:05
Construction Loan Modeling
01:40
Construction Loan Modeling - Introduction
03:42
Construction Loan Modeling - Part 1
04:14
Construction Loan Modeling - Part 2
08:24
Construction Loan Modeling - Part 3
04:52
Construction Loan Modeling - Part 4
06:28
Yield Maintenance Modeling
01:08
Yield Maintenance Exercise - Outstanding Loan Balance
03:18
Yield Maintenance Exercise - Finalization
04:15
Advanced Loan Sizing Modeling
01:06
Advanced Loan Sizing Exercise
04:36
+ Advanced Equity & Waterfall Modeling
11 lectures 44:54
Advanced Equity & Waterfall Modeling Introduction
02:00
Quarterly & Annual Distribution Modeling
01:12
Quarterly & Annual Distribution Modeling - Part 1
03:55
Quarterly & Annual Distribution Modeling - Part 2
09:03
Quarterly & Annual Distribution Modeling - Part 3
03:42
Uneven Waterfall Cash Flow Dates
00:49
Uneven Waterfall Cash Flow Dates Exercise
07:31
Equity Multiple Waterfall Hurdles
00:52
Equity Multiple Waterfall Hurdles Exercise - Part 1
04:48
Equity Multiple Waterfall Hurdles Exercise - Part 2
04:42
Equity Multiple Waterfall Hurdles Exercise - Part 3
06:20
+ Advanced Modeling Case Study
38 lectures 02:24:24
Advanced Case Study File Download
00:07
Advanced Case Study - Introduction
01:23
Advanced Case Study Model Introduction
03:34
Valuation Information
04:48
Return Metrics
02:57
Cash Flow Timing
06:40
Cash Flow Timing Formatting
01:19
Revenue Line Item Modeling
02:40
Percentage of Renovation Complete & Freezing Panes
03:26
Percentage of Renovation Complete - Finalization
04:53
Gross Potential Revenue
07:29
Vacancy, Other Income, & EGR
04:45
Expense Line Items & PM Fees
02:41
Operating Expenses
04:24
Month 1 Property Taxes
03:41
Insurance & NOI
05:18
Capital Reserves
04:07
Renovation Expenses & CF Before DS
05:31
CF Before DS - Timing Triggers
02:25
Working Capital Contributions & Ending Balance
04:03
Working Capital Ending Balance Finalization
02:14
Acquisition & Sale Information
06:26
Acquisition Loan & Refinancing Build-Out
04:00
Acquisition Loan Proceeds & Loan Fees
06:25
Acquisition Principal Payment
04:10
Acquisition Interest Payment - Formula Update
00:21
Acquisition Interest Payment
03:37
Acquisition Loan Payoff
03:36
Refinancing Loan Proceeds & Loan Fees - Formula Update
00:30
Refinancing Loan Proceeds & Loan Fees
07:24
Refinancing Principal Payment
03:36
Refinancing Interest Payment
02:55
Refinancing Loan Payoff & Levered Net CF
03:31
Property Tax Resets - Finalization
05:07
Working Capital - Finalization
04:58
IRR, Equity Multiple, & MIN CF Value
03:25
Valuation Finalization
05:51
Advanced Case Study Solution File Download
00:06
+ Wrapping Up
2 lectures 03:51
How To Use This Information
02:21
Where To Go From Here
01:30
+ BONUS LECTURE: Udemy Student Bonus
1 lecture 00:11
BONUS LECTURE: Udemy Student Bonus
00:11