
Aspiring commercial real estate investors and professionals gain a full view of the acquisitions process—from analysis through due diligence to closing—for retail, office, industrial, and multifamily assets.
Identify and source commercial real estate deals by defining geographic market, product type, and deal criteria, then work with brokers to find fully marketed or off market opportunities.
Identify markets with growing demand and strong growth potential, considering population and job growth, travel time, and favorable regulatory and tax climates to maximize value from commercial real estate acquisitions.
explore off-market opportunities in commercial real estate, accessed through broker relationships or direct seller outreach, and learn how to target geographic markets and property types for pricing arbitrage.
Identify investment opportunities, collect data, and underwrite deals using an acquisition model. Project five to ten year cash flows to determine offer prices and investor returns.
Cultivate broker and seller relationships to find deals and prove you can close. Pursue off-market opportunities through area farming and prepare for underwriting with data collection.
Create a dynamic acquisition model, input historical and future data, and value deals by projecting cash flows to target returns like IRR, equity multiple, and cash-on-cash.
Outline the non-binding letter of intent to purchase, detailing purchase price, refundable initial deposit, secondary non-refundable deposit after the contingency period, due diligence deliverables, and closing timeline.
Explore the contingency period and due diligence process in commercial real estate, where refundable deposits, third-party testing costs, and reputational risk shape the decision to close.
Explore due diligence in commercial real estate, from property condition assessments and phase one and phase two environmental reports to lease audits, appraisals, market analysis, and underwriting validation.
the property condition assessment report, or PCR, is a document detailing building systems, structure, site improvements, accessibility, with immediate repairs, cost estimates, long-term capital needs for underwriting, and environmental contaminants.
Identify a property's physical characteristics and restrictions via a survey and zoning report, detailing meets and bounds, square footage, improvements, utilities, easements, and current and future uses.
Learn how real estate investors raise equity with an investment memo, explore sources from institutions, networks, brokers, and crowdfunding, and understand key returns and risk protections.
Discover how the investment memo helps raise limited partner capital by outlining five-to-ten-year financial forecasts, risk mitigation, deal rationale, market context, fee structures, and minimum investment details.
Explore the real estate equity waterfall in the included excel file, and see how blue-input assumptions drive levered cash flow, fees, and the 8% preferred return and promoted interest.
Learn how real estate private equity firms form an SPV to hold a property, isolate liability, and structure partnerships with LLCs or LPs and an EIN.
Wrap up this course by guiding you to study real estate financial modeling and analysis to underwrite deals, set valuations, and begin deal analysis using LoopNet and Cressy.
How do investors and real estate private equity firms actually buy commercial properties? This course will teach you the entire process of acquiring a commercial real estate asset, including property identification, due diligence, raising capital, and closing the transaction. This course was designed to break down a commercial real estate acquisition step-by-step so you can go confidently into your next deal, or understand the acquisitions process as a whole if you're working for a real estate investment, development, or brokerage firm. This course will teach you how to:
Confidently be able to run the acquisitions process when purchasing commercial real estate properties, either on your own, with partners, or in your job at a real estate private equity, brokerage, or lending firm.
Minimize your equity investment and maximize profit potential through understanding fee and waterfall structures, and how JV equity partnership structures are commonly put together on commercial real estate transactions.
Determine if a career path in acquisitions is right for you based on what you want to get paid, how you want to get paid, and what your goals are over the long-term.
This course will cover the entire process of a commercial real estate acquisition from start to finish. You'll learn things like the key components of physical and financial due diligence, how investors go about the equity raise process, what lenders are looking for when assessing your deal, and even how you can structure your partnerships with equity investors to create a "win-win" scenario for all parties involved.
Ultimately, you'll leave this course with a strong understanding of the real estate acquisitions process for apartment buildings, retail shopping centers, office buildings, and industrial properties, whether you're looking to do deals on your own (and raise capital to do it), or you just want to get a more detailed look into what your company is doing when taking down a new acquisition.
Here's what some of our students have had to say about the class:
★★★★★ "Clear and to the point. Love that he does not waste time. Lays it out simply and clearly."
★★★★★ "A great high-level introduction to syndicating real estate deals! I work for a small commercial real estate development/management company, and I'm just beginning to put these sorts of deals together myself, so it was nice to have such a solid run through of the process. I'm working through a few other RE financial modeling courses by Justin and I'm really impressed with his knowledge, pacing of course material, and the quality of his explanations. Having an in-depth understanding of these course topics and the ability to apply what I've learned has really helped me stand out at work."
★★★★★ "This is an excellent overview of real estate syndication deals and the transaction elements of a typical commercial real estate acquisition. The material is presented in a logical and easy-to-follow manner from the start to finish of the acquisition deal cycle. The material in this course could serve as a comprehensive checklist for the proper execution of commercial real estate transactions. This course exceeded my expectations and I would recommend it to anyone interested in understanding how real estate syndication works or learning the commercial real estate transaction process."
II hope to see you in the course!