4.67 (4850 reviews)
☑ The ability to build a functional, dynamic real estate financial model from scratch.
☑ The skill set to model real estate transactions for multiple different asset types and solve for the most essential investment metrics evaluated by large institutions and private equity groups.
☑ A substantial increase in speed and efficiency in Microsoft Excel by learning powerful tools and functions.
☑ A mastery of the foundational analytical and financial modeling tools necessary to break into the real estate private equity industry and model complex commercial real estate transactions.
Learn real estate financial modeling. Advance your career. Make more money. Built by an instructor with over eight years of real estate private equity finance experience modeling over $1.5 billion of closed commercial real estate transactions, this course was designed to take you from complete beginner with no knowledge of real estate financial modeling to a real estate financial modeling pro. The skills and concepts you will learn in this course can be used to help you break into the real estate private equity industry, increase your compensation at your existing real estate job, or confidently analyze and model a commercial real estate investment on your own.
This course was created to help our students:
Begin a lucrative career in the commercial real estate private equity industry - According to CEL & Associates, Inc., the 2020 median total compensation for an acquisitions associate in retail, office/industrial, and multifamily was $137K, $143K, and $121K, respectively. This course will teach you the core fundamental Excel financial modeling skills necessary to land one of these jobs and succeed in your first commercial real estate investing role.
Increase overall compensation and career opportunities in their current real estate role - Real estate agents, property managers, construction managers, and architects all have extremely valuable skills that are highly desirable in the commercial real estate finance industry. Whether you want to earn more money in your current role or make a transition into commercial real estate acquisitions, this course will give you the foundational knowledge to take your real estate investing career to the next level.
Confidently model large real estate transactions - For property acquisitions larger than single-family homes, having the ability to confidently create a financial model projecting real estate investment returns is essential to buying profitable deals and garnering the confidence of your investors. Whether you are modeling a real estate investment you are looking to buy with your own money or leading a real estate syndication, strong financial modeling skills are an essential component of the real estate investment process.
This course will teach you the key fundamentals necessary in order for you to be able to model real estate investment transactions accurately, quickly, and efficiently.
Here's what some of our students have said about the course:
★★★★★ "Excellent course that teaches you financial modeling in Excel for CRE. I purchased the course after starting a new job as valuation analyst for a RE asset manager and it has helped me immensely. I have a background in PE funds and my excel skills are fairly advanced so for me the added value was understanding the specificities of CRE. I now look forward to completing the advanced RE modelling course. This instructor is great: no fluff, clear explanations, top notch material and step-by-step directions. Justin is also very responsive with answering your queries. I highly recommend the course!"
★★★★★ "This course is great. I learned everything I needed to build a model for an interview for a Financial Analyst role at a Real Estate Private Equity Fund. And I got the job. I have since gotten other courses by Justin, as they are what I need to get me up to speed at my new job. Also, Justin is great at answering questions when I get stuck and pointing me in the right direction."
★★★★★ "Excellent Course! Thank you for all your hard work in transforming a complex concept into an easy to understand format. This course has multiplied my understanding of financial modeling and the use of Excel. I learned more through this platform than the traditional institutional setting. A great resource and educator."
★★★★★ "Overall, this course was such an awesome experience! As a CRE investor as well, I took this course with the goal of it helping to rebuild my financial model and, what can I say, mission accomplished! From the structure, to the pace, the exercises, Justin's CRE knowledge and Excel tips/tricks - it was exactly what I was looking for and more!"
★★★★★ "Cannot believe the value in this course!! Best deal in real estate education. Thank you Justin, can't wait to take the next course. I could not recommend it more."
★★★★★ "This is a top notch course. The self-pace is perfect for me and it helped refresh all of the concepts that I learned in my grad school real estate courses. Just follow along and practice the examples and you'll extract tremendous value from a modeling perspective!!"
★★★★★ "Justin is awesome! His teaching style makes learning very intuitive. I would recommend this class for anyone that is trying to break into CRE or expand their current foundation of CRE. I was recommended by a friend who spent $600 on a course but found this one to be more helpful and easier to follow/understand."
★★★★★ "Superb course that teaches you the fundamentals of CRE modelling you need to know. Justin is a really good lecturer and he is very responsive with answering your queries, not just about the course material but even things related to your career in CRE. I would recommend the course to anyone looking to understand the fundamentals of CRE modelling."
★★★★★ "Wow! This course and Justin's other courses are the equivalent of an MBA level curriculum. If you are willing to put in the time and effort you will benefit."
If you're looking to learn to model commercial real estate investments to jump-start your career, make more money in your current job, or do your own big deals, you're in the right place.
What We Will Cover - Part I
What We Will Cover - Part II
How To Take This Course
About The Instructor
Master Excel File - DOWNLOAD FIRST
Real Estate Financial Modeling Best Practices
Excel Financial Modeling Best Practices + A Quick Primer
Saving in A1 (The Steak Sauce Cell)
Property Cash Flow Statement Modeling
GPR, General Vacancy, & Credit Loss
GPR, General Vacancy, & Credit Loss Excel Exercise
Percentage Rent, Storage Income, & Other Income
NOI & The Property Cash Flow Statement (So Far)
Tenant Improvement Allowances
TIs, LCs, & Capital Reserves Excel Exercise
CF Before Debt Service + The Property Cash Flow Statement (So Far)
Debt Service, Before Tax & After Tax Cash Flow
The Property Cash Flow Statement (Complete!)
Modeling Key Real Estate Investment Metrics
Real Estate Investment Analysis Metrics
DCF Excel Exercise
Internal Rate of Return (IRR) & Excel Exercise
Capitalization (Cap) Rate
Equity Multiple & Excel Exercise
Real Estate Debt Modeling
Debt Service Coverage Ratio (DSCR)
Loan Constant (Positive vs. Negative Leverage)
Expense Ratio + Breakeven Ratio
Excel Hotkeys + Shortcuts for Real Estate Financial Modeling
Controlling Columns & Rows
The "ALT + E" SUM Shortcut
Navigating Throughout The Sheet & Workbook
Text & Font Styles
All About Borders
Excel For Mac Hotkeys & Shortcuts
Essential Real Estate Financial Analysis Excel Functions
Key Real Estate Financial Analysis Excel Functions
Present Value (PV) Exercise
Future Value (FV) Exercise
Number of Periods (NPER) Exercise
Rate (RATE) Exercise
Payment (PMT) Exercise
Loan Functions & IPMT
PPMT Excel Example
Cumulative Interest Payment (CUMIPMT) Excel Example
Cumulative Principal Payment (CUMPRINC) Excel Example
NPV + IRR Dynamic Modeling
XNPV + XIRR Dynamic Modeling
Data Manipulation + Scenario Analysis
VLOOKUP Excel Example
HLOOKUP Excel Example
IF Statement Functions
SUMIF Excel Example
SUMIFS Excel Example
COUNTIF & COUNTIFS
AVERAGEIF & AVERAGEIFS
AND & OR
SUMPRODUCT Excel Example
CAGR Excel Example
ROUND Excel Example
DATEDIF Excel Example
Data Analysis Tools for Real Estate Financial Modeling
1-Variable Data Table
2-Variable Data Table
Advanced Debt Modeling
Loan Sizing by DSCR
Loan Sizing by Debt Yield
Loan Sizing With Multiple Constraints (MIN)
Building a Loan Amortization Table - Part I
Building a Loan Amortization Table - Part II
How to Model Commercial Leases
How to Model Commercial Leases
Pro Rata Share Modeling
Modeling NNN Leases
Modeling FSG Leases
Modeling a Base Year Stop
Modeling Percentage Rent
Modeling Leasing Commissions
Modeling a Tenant Improvement Allowance
Modeling Renewal Probability (ADVANCED)
Building a Real Estate Model From Scratch
NOI Modeling Walkthrough
CF Before Debt Service Modeling Walkthrough
Interest Expense Modeling Walkthrough
Acquisition Metric Modeling Walkthrough
Disposition Metric Modeling Walkthrough
IRR, Cash-on-Cash, + Equity Multiple Modeling Walkthrough
Real Estate Private Equity Modeling Exam
PERE Exam - Introduction
Building Out The Investment Timeline
Building Out The EGR
Modeling Expenses & NOI
Modeling Capital Reserves
Purchase Price, Sale Proceeds, and CF Before DS
Interest, Amortization, & CF After DS
Loan Proceeds, Loan Payoff, & Total Levered Cash Flows
Month of Sale Cash Flow Triggers
Model Formatting & Checks
Going-In Cap Rate, Unlevered & Levered IRR
Cash-on-Cash Return Calculations
Cash-on-Cash Return Calculations - Part II
Levered & Unlevered Equity Multiple
DSCR, Debt Yield, & Exit LTV
Operating Expense & Break Even Ratios
Putting It All Together
Where To Go From Here
BONUS LECTURE: Udemy Student Bonus
BONUS LECTURE: Udemy Student Bonus
Amazing class... Advanced and very interesting stuff. Just wish I could download the course for later reviews!!
Very good basic boot camp! Although this course has repetitions from other courses I have already taken from Justin I'm still getting a lot of useful information. I'd just recommend taking this course in the beginning before getting to more complex ones for Development or Waterfall modellings.
Perfect overview of Real Estate Analysis that is simple to understand, with enough detail to be effective.
This course was very useful, well-taught and straightforward to follow! I appreciate the foundational lessons taught and then building on skills learned in previous lessons to build out the real estate financial models.
Excellent class! I was intimidated by Real estate investment modeling in excel, but the instructor teaches it well. I feel much more confident, and I plan on reviewing this material again.
Overall Justin provides an excellent course! Some of this content can get somewhat complex. For the most part; Justin explains the concepts pretty well. At times I feel the clarity is lacking a bit and perhaps it can be explained a bit better. However; as said above- the concepts can at times be inherently complex and one simply needs to pause and listen to it again and/or work thru the Excel workbook (provided along with the course). Overall; I love the course and would highly recommend to others! It is truly taking my knowledge to a whole new level. Justin also responds to each and every question and does not measure his words- he makes sure to explain it properly even if it takes a few minutes to reply. So you're never stuck not understanding something. Just need to ask!
What an amazing course to get started in financial modeling in the CRE industry. Justin does an exceptional job pacing the class and explaining all important concepts and Excel formulas. The knowledge gained in this course will absolutely benefit me in my career.
I'm a passive investor in several multifamily syndications. This course will help me to evaluate them (and future investments) much more effectively. I really enjoyed the class.
Great course! Covers a wide range of topics and clearly explains them. Cannot wait to move forward with the advanced version of the course and kick-start my job search in CRE.
I have a jd, but I'm making the jump into cre, and I'm currently interviewing for jobs. I started with Justin Kivel's YouTube videos, then free crash course, and now paid courses. Justin manages to make often confusing and complex concepts simple and easy to understand, which is no easy feat. After researching a variety of related materials online, Justin's course work is one of a kind. I feel confident going into investment related interviews without significant on the job experience in finance. I've considered taking commercial real estate courses at a local graduate school, but I'm confident they won't pinpoint the necessary subjects I need to know in such a comprehensive and efficient way. I rarely take the time to leave reviews, although I'm glad to in this case as I'm very happy to have discovered these courses.
Excellent course! Justin was a great lecturer and elucidated many of the topics very well. Keep in mind this is the most entry level course and RE deals can become much more complex when working in the real world but this would be perfect for an intern or recent graduate looking to break into the industry. I wish I had this before I started my first job! Thanks and looking forward to the next course!
Really, I am glad I enrolled in this course! I am an MSc Finance and Real Estate student, I have been studying my theories well but when it came to Excel, I did not know how to use it properly and effectively. Through this course, I had the opportunity to review some basic elements of my master but more importantly, how to make most of it through Excel and very quickly! I also bought the Advanced Modelling Bootcamp and the Interview Exam course! I cannot wait to start the other courses! PS: Justin's videos are well designed and his voice his calming and easy to listen to. I have completed other Certificates online, but I remember the HVS Hotel Valuation one painfully, where the speaker's voice would put me to sleep after 5mins, here it is not the case! Well done Justin!
It was a really good course that seemed to cover the basics of financial modeling for commercial real estate. I will note that if you have an intermediate knowledge of finance and Excel much of the beginning lessons will not add much value. Where I learned the most was the Exam at the end! Great way to end the course and tie everything together!
From excel to brains behind the numbers, Justin explains everything in a clear, logical and easy to understand manner.
I did the course after i completed my Real Estate Masters so i had an idea of what Justin was talking about but even then the course help me practice my basic skills and learn new skills required for a job in real estate! A very well structured course teaching all the basics you need and more! Study everything presented in the course and practice it on Excel and keep practicing. Do this and you are up to a a good start! Cheers Justin!