4.76 (292 reviews)
☑ Learn how to build dynamic, institutional-grade commercial real estate models from scratch incorporating reimbursement structures, rent escalation schedules, re-leasing assumptions, and more
☑ Learn how to replace ARGUS and use Excel to perform the calculations necessary to model commercial leases
☑ Learn how to create institutional, professionally formatted models for retail, office, and industrial deals to present to investors and partners
Want to learn how to model complex commercial real estate leases in Microsoft Excel from scratch, even without ARGUS?
This course is a complete, step-by-step guide to modeling commercial leases for retail, office, and industrial real estate. This is a project-based course, meaning you'll start with a blank Excel workbook and walk away with a fully-functional, dynamic, commercial lease model that YOU'VE created - from scratch.
By the end of this course, you'll be able to build a dynamic, professional-quality commercial real estate lease model from scratch, and your first one will be done by the time you finish the last lecture.
This course will teach you how to model things like multiple tenant lease terms and expiration dates, complex reimbursement structures, renewal probability and downtime, tenant improvement allowances, leasing commissions, and much, much more. At the end of this course, you will be able to:
Build an institutional-quality, dynamic commercial real estate lease model from scratch
Learn key Excel shortcuts to double your real estate financial modeling speed
Model multiple lease structures and quickly and easily model complex reimbursement structures (NNN, FSG, MG, & BYS)
Use renewal probability to accurately drive your future cash flows at a commercial property
Build a dynamic lease structure that models irregular rent increases (or decreases) and dynamically changes cash flows with the click of a button
Model dynamic leasing commissions on a commercial deal, even if you have different agreements for different periods of a lease
Build out percentage rent formulas to model percentage rent payments for retail tenants based on net sales
Create easy-to-view annual cash flow roll-ups to quickly review your work and present to investors or colleagues
This course is perfect for you if:
You're a college student or graduate student looking to break into real estate investment 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 a professional in a different field, but looking to buy real estate on the side and want to be able to confidently analyze a commercial deal
You're an existing real estate professional looking to advance your career, increase your compensation, and break into the real estate investment industry.
You've bought rental homes or duplexes, and now you're looking to move into bigger commercial properties and want to feel confident in your ability to analyze deals.
Here's what some of our students have had to say:
★★★★★ "Justin really takes a deep dive into crucial concepts that play a huge role in the practical modeling portion of the course. The content is clear and concise, and he makes sure you understand things before moving onto more advanced material. I've taken a few of Justin's courses and every one of them has been indispensable in my REPE analyst intern role."
★★★★★"Brilliant Justin. Each course I do I get more confident and regularly use the skills and formula writing at work. The great think about these courses is that they revolve around the same base. Each time you complete a different course the base knowledge is reinforced and then built upon."
★★★★★"This course I found to be complete in all aspects of Commercial Lease Modeling, combined with Justin's teaching style, really enables me to look at Commercial lease modeling opportunities with a renewed sense of understanding, and confidence."
If you have a basic understanding of real estate finance, and you're looking to apply that knowledge to analyze new commercial real estate investment opportunities, enroll now and let's get started building this model together today. Looking forward to having you in the course!
What We Will Cover - Part I
What We Will Cover - Part II
A Sneak Peek Into What You'll Build
DOWNLOAD ME FIRST!
Commercial Lease Modeling Fundamentals
Commercial Lease Modeling Fundamentals
Expense Reimbursements Exercise
Expense Reimbursements Solution
TI & LC Modeling Exercise
TI & LC Modeling Solution
Rent Escalation Modeling Exercise
Rent Escalation Modeling Solution
Renewal Probability Exercise
Renewal Probability Solution
Percentage Rent Exercise
Percentage Rent Solution
Dynamic Commercial Real Estate Lease Modeling
Pro Forma & Dynamic Cash Flow Modeling
Real Estate Financial Modeling Color Coding Essentials
Part I - Building Out Tenant Leases
Setting Up The Excel File
In-Place Tenant Details & TTS Macros
Modeling Reimbursement Structures
Modeling Reimbursement Structures Part II
Rent Escalation Modeling
Re-Leasing Assumption Modeling
Modeling Leasing Costs
Formatting Tenant Details
Finalizing Tenant Lease Formatting
Part II - Building Out In-Place Lease Cash Flows
Dynamic Monthly & Yearly Cash Flow Modeling
Dynamic Date Modeling
Modeling The In-Place Base Rent
Modeling In-Place Tenant Rent
Building Out The Property Expenses
Dynamic Expense Growth Modeling
In-Place Reimbursement Modeling
Part III - Building Out Re-Leasing Cash Flows
Dynamic Re-Leasing Base Rent Modeling
Weighted Average Downtime Lease Modeling
Modeling Re-Leasing Free Rent
Building Out Re-Leasing Reimbursements - Advanced
Re-Leasing TI & LC Updates
Re-Leasing Tenant Improvements
Re-Leasing Leasing Commissions
Total Net Tenant Reimbursements
Part IV - Percentage Rent & Additional Leases
Building Out Percentage Rent Drivers
Modeling Percentage Rent Cash Flows
Building Out Additional Leases
In-Place Base Rent & Reimbursements Modeling
Additional Leases - Re-Leasing Base Rent, Free Rent, & Reimbursements
Additional Leases - Leasing Costs
Additional Leases - Modeling Percentage Rent
Part V - Building Out The Monthly & Annual Cash Flow Summary
Building Out Vacancy & Credit Loss
Monthly Cash Flow Timing Modeling
Modeling Vacancy & Credit Loss
Other Income & EGR
Expenses, CapEx, NOI & CF Before DS
Monthly Cash Flow Formatting
Building Out The Annual Cash Flows
Part VI - Wrapping Up
How To Use This Information
BONUS LECTURE: Udemy Student Bonus
BONUS LECTURE: Udemy Student Bonus
I have recently moved into a commercial property analyst and this course was a great starting point to improve my excel modelling skills and further improve my knowledge of commercial lease analysis.
This is now my 4th completed class from this instructor. Excellent class, excellent teacher, 100% timely and detailed response rate to Q&A. I honestly feel bad paying 15 bucks for this, it is worth much, much more, believe me. I love a good deal, but I don't like to rip someone off
Great course if you are looking the learn/sharpen your knowledge on building a CF to UW commercial properties.
I for sure recommend this course. Besides explaining every little detail in terms of financial modeling, Justin shares his tips, tricks, and knowledge about the commercial real estate industry.
It is a advanced level course giving good insights of commercial leasing. The Model could be more dynamic for more tenants.
This course was somewhat more advanced than I thought, which is a great thing!. It's worth every penny. Justin is a great teacher, thanks for sharing your knowledge.!
Fantastic learning opportunity! Was taught several new concepts and how to successfully model a retail type asset. Highly recommend!
Very considerate lecturer and hands on experience. It helps me clarify the economics of lease and learn the application of excel functions.
An Excellent Course that every Real Estate Professional or Amateur should have within their arsenal. Justin takes you step by step into the ins and outs of commercial lease modeling. A great resource. Thanks again Justin for sharing your knowledge and expertise with us - especially all the hard work you put into it.
Amazing class for learning commercial lease modeling and covering all the dynamics of a complicated lease!
The training is very practical and easy to follow. The foundation I learned helps me pass the Argus Enterprise Certification Exam.
The course is well laid out and the material is what I expected. My only concern is that it feels as if the instructor is rushing through some of the formulas; making it difficult to follow along without constantly having to pause the videos to catch up.
It is really a great learning video for people who are serious about learning financial modelling for commercial properties. Step-by-step guide with patient and detailed explanations were given along the way to build out the complex and highly dynamic model from start to end.
This course I found to be complete in all aspects of Commercial Lease Modeling, combined with Justin's teaching style, really enables me to look at Commercial lease modeling opportunities with a renewed sense of understanding, and confidence. Thanks Justin.
I am excited to master what I have learned from this course. I will then be equipped to model at the highest level in the industry.