The Real Estate Financial Modeling Interview Exam Guide
4.7 (251 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.
1,479 students enrolled

The Real Estate Financial Modeling Interview Exam Guide

How To Ace Your Real Estate Financial Modeling Interview Exam For Real Estate Investing Careers
Bestseller
4.7 (252 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.
1,481 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
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This course includes
  • 6 hours on-demand video
  • 10 articles
  • 1 downloadable resource
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • The ability to build a functional, dynamic real estate financial model from scratch
  • Be fully prepared to ace your real estate financial modeling interview exam questions, regardless of what questions are thrown at you
  • Stand out from your competition and maximize your compensation by becoming the most desirable job candidate for any role
Requirements
  • Access to Microsoft Excel for PC or Mac
  • A basic understanding of real estate finance and financial modeling is recommended
Description

Want to land a six-figure job in private equity real estate investing?

The opportunity in private equity real estate investing careers is HUGE. Top-tier salaries and bonuses, the ability to invest in big deals, and, unlike investment banking, a work-life balance that will general allow you to keep your friends and family and sleep more than 3 hours per night.

But breaking in isn't easy. In fact, many of these jobs require a real estate financial modeling interview exam to test your knowledge and ability to contribute from day one.

Yup, that's right. Writing "proficient in Microsoft Excel" on your resume won't cut it for these roles. The best firms (the ones you actually want to work for) will likely test your real estate financial modeling chops with a timed exam.

These firms want to know your knowledge and skill sets in five main categories:

  1. Microsoft Excel Formulas & Functions

  2. Real Estate Finance

  3. Commercial Real Estate Lease Modeling

  4. Cash Flow Statement Modeling

  5. ARGUS Export Modeling

This exam is usually the last "gatekeeper" for the most coveted private equity real estate investing analyst and associate jobs at multifamily, retail, office, and industrial investment firms.

This course will teach you how to ace that exam.

This is NOT a beginner course. If you're just starting out in real estate investing and real estate financial modeling, this course likely isn’t for you.

BUT if you have a basic understanding of real estate investing and real estate financial modeling and you're either applying for jobs or preparing for an interview at a real estate investment firm, this course will give you an unfair advantage to land the job you're looking for and stand head and shoulders above your peer group.

I'm not really sure why, but it feels like this information is hidden. While investment banking analysts and other professionals generally know what they're getting into with an interview exam, real estate financial modeling exams generally feel like Pandora's box.

When I was interviewing for jobs, no one could seem to tell me what I had to know.

I honestly didn't even know where to look.

So, after taking multiple of these exams, and actually creating these exams for incoming analysts and associates, I decided to create this resource for anyone looking to break into the real estate private equity field.

You can do this.

You just need to be prepared and KNOW what you're going to be asked ahead of time, and HOW you should answer those questions.

Firms are looking for a THOUGHT PROCESS and MODELING EFFICIENCY - and you're going to learn how to master both of these things in this course.

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

★★★★★ "Unbelievable value for money. It feels like I just accomplished an MBA in Real Estate Finance."

★★★★★ "Justin is a very clear instructor who can explain complex topics and formulas with ease. I have learned a ton from all of his courses and hope to use them to enhance my own career path! I highly recommend this course for anyone who is looking to sharpen their excel / real estate financial modeling skills and break into real estate investing."

★★★★★ "This course greatly helped as a refresher when interviewing for a large institutional Lending position. It also enabled me to be much more efficient in my modeling."

★★★★★ "Justin's classes are very clear and he drills the parts that you need to know continuously. It is also helpful that he continues to say the keyboard shortcuts so that you remember them."

★★★★★ "Awesome. Great way to end your programme of courses. I feel like I've definitely gone from a from scratch beginner to probably at the advance intermediate stage now. Many thanks for all your help in putting all these videos together!"

If you're ready to build your real estate financial modeling arsenal so you can tackle any questions that come your way on interview day, click the enroll button to get immediate access to five institutional-quality real estate private equity interview exams, with in-depth walk-throughs and explanations every step of the way.

See you on the inside.

Who this course is for:
  • Current or aspiring real estate investment professionals who want to increase their compensation and land a better job in real estate finance
  • Real estate investment job candidates who will be tested in real estate financial modeling during their interview
Course content
Expand all 117 lectures 06:18:14
+ How To Ace Your Real Estate Financial Modeling Interview Exam - The Five Keys
6 lectures 17:07
What Employers Are Looking For - Part 1
04:07
What Employers Are Looking For - Part 2
02:45
What Employers Are Looking For - Part 3
02:07
What Employers Are Looking For - Part 4
01:56
What Employers Are Looking For - Part 5
02:44
Modeling Best Practices For Interview Day
03:28
+ Exam #1 - The Excel-Focused Assessment
26 lectures 01:36:43
How To Find Values Using HLOOKUP
07:10
How To Use VLOOKUP With Dynamic Month Toggles
03:29
How To Call Out Cells Automatically Using Conditional Formatting
03:05
How To Count Select Cells With COUNTIFS
06:35
Creating A Test Using IF Statements
03:59
How To Sum Cash Flows For Only Certain Years
05:31
How To Count The Number of Negative Cash Flows
02:32
How To Sum All Negative (or Positive) Cash Flows
02:04
How To Sum All Cash Flows In A Specific Year
03:21
How To Find The Maximum Value in Any Data Array
01:36
Dynamic Cash Flow Selection
02:45
How To Return Values If Two or More Values Are True
07:34
How To Return Values If AT LEAST One Criteria Is True
03:21
Modeling Weighted Average Rents
03:55
How To Round Values
02:04
How To Calculate Rent Differentials (MAX & MIN)
02:31
Calculating The Future Value of a Real Estate Investment
03:18
Using Goal Seek To Determine Necessary Investment Growth Rates
03:35
Simple IRR Calculations
01:31
Calculating The XIRR With Uneven Dates
01:41
NPV vs. XNPV
02:39
Using Goal Seek To Solve For a Target IRR
04:21
Using INDIRECT For Dynamic Sum Ranges (ADVANCED)
04:53
Creating Data Tables To Sensitize Returns Based On Multiple Criteria
05:24
Check-In - How Are You Feeling So Far?
00:22
+ Exam #2 - The Real Estate Finance Exam
20 lectures 58:49
Calculating Monthly Debt Service
04:55
Calculating Balloon Payments at the End of the Loan Term
04:17
Modeling Debt Yield & DSCR
02:53
Calculating LTV Based on Cap Rate Valuation
01:50
Modeling Loan Sizing Based on DSCR
02:18
Calculating The Levered Equity Multiple
04:10
Calculating The Levered IRR Using XIRR
02:37
Calculating Dynamic Cash-on-Cash Returns in Singular Years
05:30
Sensitizing IRR Based on Cap Rate & LTV
02:40
Calculating The Going-In Cap Rate
01:26
Calculating The Total Monthly Loan Payment
01:50
How To Calculate Future NOI WITHOUT Built-In Cash Flows
02:39
How To Calculate a Loan Constant
02:37
How To Calculate Cash-on-Cash Returns With I/O Loans
02:31
Calculating The Break Even Ratio
03:47
Calculating The Operating Expense Ratio
01:09
Calculating TI Allowance & Return on Cost
03:14
Using Goal Seek To Calculate Minimum Acceptable Base Rent
04:26
Check-In - Exam #2 Complete!
00:22
+ Exam #3 - The Commercial Real Estate Lease Modeling Exam
16 lectures 45:12
CRE Lease Modeling Exam Introduction
00:56
Calculating Lease Rent Growth
04:35
Calculating Future Lease-Up TI Amounts
05:45
Modeling Future Lease-Up Rent
02:16
Calculating Future Lease Dates With Dynamic Downtime
05:21
Modeling The Pro Rata Share
01:42
NNN & FSG Lease Modeling
02:01
Base Year Stop Modeling
02:17
Modeling Hybrid Reimbursement Structures
02:43
Calculating Leasing Commissions For New Leases
03:02
Modeling Renewal Leasing Commissions
02:27
Calculating Leasing Commissions Based on Renewal Probability
02:30
Calculating Future Base Rent
02:49
Calculating Percentage Rent Breakpoints
01:32
Calculating Future Percentage Rent Payments (with Inflation)
04:45
Check-In - Over The Hump
00:31
+ Exam #4 - The Commercial Real Estate Cash Flow Modeling Exam
19 lectures 01:14:36
CRE Cash Flow Modeling Exam Overview
03:41
Modeling Dynamic Cash Flow Dates
07:10
Dynamic Monthly GPR Growth
04:50
Modeling Vacancy, Expenses, & NOI
04:52
Modeling Dynamic Renovation Timing
05:44
Modeling Purchase & Sale Metrics
06:56
Modeling Loan Proceeds & Origination Fees
02:53
Dynamic Loan Payoff & Levered Net Cash Flow Modeling
05:32
Model Clean-Up & Cash Flow Date Collars Using IF Statements
04:36
Model Formatting
03:42
Modeling Unlevered & Levered IRR
03:15
Calculating Going-In Cap Rates Using Annualized Monthly NOI
02:38
Modeling The Unlevered & Levered Equity Multiple
02:30
Calculating Cash-on-Cash Returns for Specific Years (Dynamically)
02:47
Calculating Going-In DSCR & Debt Yield
02:41
Modeling Break Even Percentage & The Operating Expense Ratio
03:25
How To Use Goal Seek To Value a Property Based on IRR Targets
02:32
Check-In - The Home Stretch
00:18
+ Exam #5 - The ARGUS Export Modeling Exam
22 lectures 01:12:25
ARGUS Export Exam Introduction
01:06
ARGUS Export Exam Overview
02:30
Building Out Dynamic Annual Cash Flow "Roll-Up" Dates
04:21
Building Out Dynamic Line Items
02:10
How To Build Out Ten Years of Cash Flows in 5 Minutes
05:44
Dynamic Purchase & Sale Metric Modeling & Cash Outflow Formatting
06:40
Cash Flow Before Debt Service & CF Timing Collars
02:12
CUMIPMT & CUMPRINC
07:30
Dynamic Loan Payoff Modeling
03:01
Cash Flow After Debt Service & Cash Flow Collars - Part 2
01:56
How To Format a Model in Less Than 5 Minutes
03:59
Going-In Cap Rate, Debt Yield, & DSCR
02:46
Unlevered & Levered Equity Multiple - Update
00:34
Unlevered & Levered IRR & Equity Multiple Modeling
03:57
Average Cash-on-Cash Return Modeling with Variable Hold Periods
07:01
Cash-on-Cash Formula Update
00:47
Using Cash Flows To Determine Asset Stabilization
04:25
Using Cash Flows To Determine Reimbursement Structures
01:11
Calculating Value CAGR
02:59
Modeling LTV at Exit
02:13
Solving For Target IRR - Property Valuation Method
04:50
Check-In - DONE.
00:32
+ Wrapping Up
2 lectures 03:56
How To Use This Information
01:54
What To Do Next
02:02
+ BONUS LECTURE: Udemy Student Bonus
1 lecture 00:11
BONUS LECTURE: Udemy Student Bonus
00:11