4.73 (718 reviews)
☑ 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.
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!
What We Will Cover
How To Take This Course
About The Instructor & This Course
DOWNLOAD ME FIRST!
Advanced Excel Formulas & Functions
Advanced Formulas & Functions - Overview
Naming Cells Exercise & Solution
Dynamic INDEX(MATCH()) Exercise & Solution
IF(ISNUMBER(SEARCH())) Exercise & Solution
& Exercise & Solution
Partial COUNTIF Exercise & Solution
YEARFRAC Exercise & Solution
Sort & Filters
Sort & Filters Exercise & Solution
Dynamically Return Unique Values
Consolidated Unit Mix Exercise - Part 1
Consolidated Unit Mix Exercise - Part 2
Consolidated Unit Mix Exercise - Part 3
MOD(ROW()) Exercise & Solution
TRANSPOSE & Array Functions
TRANSPOSE & Array Functions Exercise & Solution
Advanced Real Estate Deal Analysis
Advanced Deal Analysis Introduction
Break-Even Occupancy Exercise & Solution
Break-Even Occupancy - AVERAGE & MAX
Dual-Metric Data Tables
Dual-Metric Data Tables Exercise & Solution
Best-Base-Weak Case Scenario Analysis
Best-Base-Weak Case Scenario Analysis Exercise & Solution
Dynamic Next Buyer Analysis
Next Buyer Analysis - Implied Cap Rate & Purchase Price
Next Buyer Analysis - Purchase Price & Closing Costs
Next Buyer Analysis - Cash Flow Before Debt Service
Next Buyer Analysis - Sale Proceeds, Costs of Sale, & Net Unlevered Cash Flows
Next Buyer Analysis - Dynamic Unlevered IRR Using INDEX
Next Buyer Analysis - Unlevered Equity Multiple
IRR Partitioning Exercise - CF Net of Sale Proceeds
IRR Partitioning Exercise - Sale Proceeds
IRR Partitioning Exercise - Partitioning The IRR
Hold-Sell Analysis Exercise - Reversion Year CF
Hold-Sell Analysis Exercise - Unlevered CF & IRR
Hold-Sell Analysis Exercise - Levered Reversion Year CF
Hold-Sell Analysis Exercise - Levered CF & IRR
Hold-Sell Analysis Exercise - Dynamic Optimal Sale Year
Advanced Revenue & Expense Modeling
Advanced Revenue & Expense Modeling - Introduction
Lease-Up Modeling Exercise - GPR
Lease-Up Modeling Exercise - % of Lease-Up Complete
Lease-Up Modeling Exercise - Dynamic General Vacancy
Lease-Up Modeling Exercise - Operating Expenses
Lease-Up Modeling Exercise - Capital Reserves
Renovation Premium Modeling
Renovation Premium Modeling - % of Renovation Complete
Renovation Premium Modeling - GPR
Renovation Premium Modeling - Varying Vacancy Rates
Renovation Premium Modeling - Straight-Line Renovation Costs
Commercial Lease Roll-Over Modeling
Commercial Lease Roll-Over Modeling - In-Place Lease Rent
Commercial Lease Roll-Over Modeling - New & Renewal Lease Rent
Commercial Lease Roll-Over Modeling - Tenant Improvement Allowances
Commercial Lease Roll-Over Modeling - Leasing Commissions
Varied Annual Growth Rates
Varied Annual Growth Rates Exercise - Market Rent Growth
Varied Annual Growth Rates Exercise - Vacancy
Advanced Cash Flow Modeling
Advanced Cash Flow Modeling Introduction
Annual & Quarterly CF Roll-Up
Annual CF Roll-Up Exercise - Part 1
Annual CF Roll-Up Exercise - Part 2
Quarterly CF Roll-Up Exercise
Working Capital Accounts
Working Capital Exercise - Initial Contributions
Working Capital Exercise - Balance & Distributions
Fixed & Variable Expense Modeling
Fixed & Variable Expense Modeling Exercise - Introduction
Fixed & Variable Expense Modeling Exercise - Expense Build-Out
Property Tax Reversion Resets
Property Tax Reversion Resets Exercise - Year 1
Property Tax Reversion Resets Exercise - Years 2-11
Advanced Debt & Equity Modeling
Advanced Debt & Equity Modeling - Introduction
Floating-Rate Debt - Transposing Index Rates
Floating-Rate Debt - Loan Payments
Refinance Modeling Exercise - Acquisition Loan Month 0
Refinance Modeling Exercise - Acquisition Loan Payments & Payoff
Refinance Modeling Exercise - Refinance Modeling Part 1
Refinance Modeling Exercise - Refinance Modeling Part 2
Good News Money
Good News Money Exercise - Month 0
Good News Money Exercise - Straight-Line TI & LC Costs
Good News Money Exercise - Additional Loan Funding
Good News Money Exercise - Finalization
Construction Loan Modeling
Construction Loan Modeling - Introduction
Construction Loan Modeling - Part 1
Construction Loan Modeling - Part 2
Construction Loan Modeling - Part 3
Construction Loan Modeling - Part 4
Yield Maintenance Modeling
Yield Maintenance Exercise - Outstanding Loan Balance
Yield Maintenance Exercise - Finalization
Advanced Loan Sizing Modeling
Advanced Loan Sizing Exercise
Advanced Equity & Waterfall Modeling
Advanced Equity & Waterfall Modeling Introduction
Quarterly & Annual Distribution Modeling
Quarterly & Annual Distribution Modeling - Part 1
Quarterly & Annual Distribution Modeling - Part 2
Quarterly & Annual Distribution Modeling - Part 3
Uneven Waterfall Cash Flow Dates
Uneven Waterfall Cash Flow Dates Exercise
Equity Multiple Waterfall Hurdles
Equity Multiple Waterfall Hurdles Exercise - Part 1
Equity Multiple Waterfall Hurdles Exercise - Part 2
Equity Multiple Waterfall Hurdles Exercise - Part 3
Advanced Modeling Case Study
Advanced Case Study File Download
Advanced Case Study - Introduction
Advanced Case Study Model Introduction
Cash Flow Timing
Cash Flow Timing Formatting
Revenue Line Item Modeling
Percentage of Renovation Complete & Freezing Panes
Percentage of Renovation Complete - Finalization
Gross Potential Revenue
Vacancy, Other Income, & EGR
Expense Line Items & PM Fees
Month 1 Property Taxes
Insurance & NOI
Renovation Expenses & CF Before DS
CF Before DS - Timing Triggers
Working Capital Contributions & Ending Balance
Working Capital Ending Balance Finalization
Acquisition & Sale Information
Acquisition Loan & Refinancing Build-Out
Acquisition Loan Proceeds & Loan Fees
Acquisition Principal Payment
Acquisition Interest Payment - Formula Update
Acquisition Interest Payment
Acquisition Loan Payoff
Refinancing Loan Proceeds & Loan Fees - Formula Update
Refinancing Loan Proceeds & Loan Fees
Refinancing Principal Payment
Refinancing Interest Payment
Refinancing Loan Payoff & Levered Net CF
Property Tax Resets - Finalization
Working Capital - Finalization
IRR, Equity Multiple, & MIN CF Value
Advanced Case Study Solution File Download
How To Use This Information
Where To Go From Here
BONUS LECTURE: Udemy Student Bonus
BONUS LECTURE: Udemy Student Bonus
As a current student doing a bachelor of business with majors in property and finance, I am finding Justin's courses great for not only refreshing what I have learned in my studies but they have added to that knowledge and increased my skills using Excel. I Highly Recommend Justin's courses to anyone.
I finished the beginner course and then started this course and Justin takes financial modeling to a whole new level. I will going through this again and again until I am able to do financial modeling with ease. Thank you Justin for all the valuable information.
I strongly recommend that individuals interested in working or investing in real estate should take the time to learn this skill, which is very practical. I really like this course, thank you Justin!
I think Justin is a great teacher and I'm learning a bunch. This is a great course and I feel much more comfortable telling somebody I have an understanding for Real Estate Financial Modeling now than I did before starting.
Yes! Amazing match for what I was looking for. I'm a real estate finance major from NYU. This course is the best modeling practice I've found up to this point.
So Far its definitely a good match. Would like to become more familiar on formula building through excel to come up with a particular solution. Basically, know what formula to use and when.
As always great material and good pace. The only reason I am not giving 5 stars is because some of the formulas are not really explained. Justin simply skips explaining the consolidated unit mix formula, which I think is really important to fully understand. Otherwise, great stuff!
The course was great! Having taken advanced modeling before in CRE I still found I learned things, both on the deal side but also in regards the excel modeling. Thanks a bunch!
Great course, very helpful for my job in Real Estate investment. This is the 4th of Justin's courses that I have completed, I look forward to working through the rest and hope he keeps adding new ones.
As an entrepreneur, I've gone through several courses from Justin and one significant thing that I achieved from them is "what investor's are thinking before investing their money into a deal". Justin's courses have not only made me learn the language of CRE but also made me a much savvy investor. I'm able to talk easily with the mavens in the CRE arena and come across as someone from their own guild. I feel grateful and lucky to have gone through these courses. The knowledge in these courses is so powerful that personally I wouldn't want anybody to find these out. Lol The only thing missing that I found in these courses is using the knowledge with a macro economic & market context. I would be looking forward to his upcoming courses putting my money where my mouth is.
Amazing course! Perfect for anyone involved with CRE transactions / acquisitions! Love the way the detailed Excel explanations are presented with proper context. Great content, great teaching style.
This course is well above my expectations, it is valuable and very much to the point. Amazing, simple and professional presentation. Great Job!
Yes. Although I took the course mostly for the excel modelling, I find that I'm still learning some useful stuff from a property dealmaking/analysis perspective. Happy thus far
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!
OMG!! This was an intense course. A lot of information to absorb & digest but well worth it. One of the best courses in Advanced Financial Modeling I've taken. This learning experience has taken my understanding of financial modeling to a whole new level. Thank you for all your hard work, but most of all for taking a difficult concept and making it easy to follow in an orderly fashion. A great resource to have but with practice comes perfection.