Overview
Recommended Prerequisites
These preparatory courses are optional, but we recommend you to complete the stated prep course(s) or possess the equivalent knowledge prior to enrolling in this course:Real Estate Financial Modeling (REFM) Course Overview
Build a dynamic Real Estate Financial model to evaluate the investment return profile of a development project in Excel. This Excel-based real estate financial modeling course is designed for development professionals, lending/banking analysts, surveyors, and anyone interested in mastering the art of building real estate development models from scratch.
In this real estate modeling course, you will learn step-by-step how to build a dynamic financial model that incorporates sensitivity analysis of development costs, sales prices, and other aspects of development.
Who should take this course?
This real estate development financial modeling in Excel course is designed for anyone who is seeking to develop intermediate to advanced financial modeling skills and become an expert financial modeler for real estate development.Cap rate and NOI
Real Estate Financial Modeling Learning Content
- Real estate industry Overview
- Calculate Cap Rate and Net Operating Income (NOI)
- Build an interactive financial model to assess a project’s financial viability
- Understand how to project real estate financing (both debt and equity) flow in and out depending on stage of development
- Design and structure of an Excel-based project finance model
- Modeling cash flows for a real estate development project
- Build in “triggers” and sensitivities to understand a project’s exposure to key drivers
- Develop ownership and financial structures (debt & equity)
- Calculate Internal Rate of Return (IRR), Return on Sales, Return on Cost
- Joint Venture (JV structures)
- Cash flow waterfalls (3 tier cash flow waterfall)
- Promotes and disproportionate returns
- Produce a one-page investment summary memo
- Includes blank and completed financial models to download
- Certificate of completion
Real Estate Financial Model
JV and Cash Flow Waterfall
Register now for CFI’s real estate financial modeling course!
Real Estate Financial Modeling
Get Started
Level 5
Approx 6.5h to complete
100% online and self-paced
Get Recognized With CFI
See All Certification ProgramsWhat you'll learn
Lesson
Multimedia
Exams
Files
Introduction
Welcome Draft
Course introduction
Free Preview
Download Excel templates
Instructor biography Draft
Course objectives
Free Preview
Terms and definitions
Development timeline
Free Preview
Project finance vs corporate finance
Free Preview
Capital stack for project finance
Free Preview
Financial modeling best practices
Free Preview
Land Loans and Construction Loans
Real Estate Development Model
Development model overview
Assumptions overview
Assumptions raw data
Schedule and property stats
Development costs
Sales assumptions
Financing assumptions
Dynamic time periods
Absorption
Closings
Revenue build up
Expenses
Costs to fund and proceeds to repay capital
Loans and financing
Debt schedule
Check debt schedule
Levered free cash flow and IRR
Joint Ventures & Cash Flow Waterfalls
Session objectives
Session objectives Draft
Joint ventures (JVs)
Disproportionate returns
Waterfall logic and structure
Setting up the JV structure in the model
Modeling equity contributions
Waterfall modeling - tier 1
Waterfall modeling - tier 2
Waterfall modeling - tier 3
Summary of distributions and cash flow
IRR & NPV by investor type
IRR scenarios
Financial Analysis Output
Qualified Assessment
This Course is Part of the Following Programs
Why stop here? Expand your skills and show your expertise with the professional certifications, specializations, and CPE credits you’re already on your way to earning.
Financial Modeling & Valuation Analyst (FMVA)® Certification
Real Estate Financial Modeling is part of the Financial Modeling & Valuation Analyst (FMVA)® certification, which includes 40 courses.
- Skills Learned Financial modeling and valuation, sensitivity analysis, strategy
- Career Prep Investment banking and equity research, FP&A, corporate development
Commercial Real Estate Finance Specialization
- Skills Learned Real Estate Lending, Real Estate Financial Modeling, Construction Finance, Environmental Analysis and Due Diligence, Lease and Rent Roll Analysis
- Career Prep Credit Analysts, Risk Manager & Credit Adjudicator, Private Real Estate Lenders, Real Estate Investors and Advisors, Commercial Mortgage Brokers, Commercial Relationship Managers
What our students say
What an amazing course!
Really good course, the depth is amazing.
Really good course, the depth is amazing.
Saad Lodhi
Complex and tricky
This course is very complex and tricky yet amazing
This course is very complex and tricky yet amazing
Atinafu Asefa
Amazing topic
Must need to take expecially those who engaged with Real Estate business
Must need to take expecially those who engaged with Real Estate business
Manik Balami
Unlock your potential with a comprehensive and very engaging course experience!
I completed the Real Estate Financial Modeling Course with CFI and I couldn't be happier with the experience I made. The course was comprehensive, covering all the essential concepts in the area, easy to follow and understand. I highly recommend this course to anyone looking to break into the real estate industry or just to expand their modeling skills.
I completed the Real Estate Financial Modeling Course with CFI and I couldn't be happier with the experience I made. The course was comprehensive, covering all the essential concepts in the area, easy to follow and understand. I highly recommend this course to anyone looking to break into the real estate industry or just to expand their modeling skills.
