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Real estate developers need to build dynamic cash flow models to analyze investment opportunities. They are specifically designed to accommodate changes in key assumptions, such as land acquisition cost, interest rates, building materials, labor, absorption rates, sales prices, market expenses, permitting, and much more.
Overview of REFM course
CFI’s REFM course covers a wide range of real estate development topics. The course will lead you step-by-step through the development process, from land acquisition to construction and absorption.
The key topics covered in the course include:
Calculate Cap Rate and Net Operating Income (NOI)
Build an interactive financial model to assess a project’s financial viability
Understand how project financing (both debt and equity) flow in and out depending on stage of development
Design and structure an Excel-based project finance model
Model cash flows for a real estate development project
Build in “triggers” and sensitivities to understand a project’s exposure to key drivers
Build in ownership and financial structures (debt & equity)
Calculate Internal Rate of Return (IRR), Return on Sales, Return on Cost
Produce a one-page investment summary memo
Includes blank and completed financial models to download
Our Real Estate Financial Modeling Course also includes very detailed and advanced cash flow waterfall modeling between General Partners (GPs) and Limited Partners (LPs). Such an approach to modeling cash flows allows some partners in the project to earn disproportionate returns relative to other partners. They can achieve the returns by clearing Internal Rate of Return (IRR) hurdle rates that increase their percentage of cash flow distribution.
CFI’s mission is to help you advance your career, whether in real estate or any other industry. To that end, we’ve created a wide range of resources to help you move up the ladder. In addition to our REFM course, you may want to check out:
Below is a break down of subject weightings in the FMVA® financial analyst program. As you can see there is a heavy focus on financial modeling, finance, Excel, business valuation, budgeting/forecasting, PowerPoint presentations, accounting and business strategy.
A well rounded financial analyst possesses all of the above skills!
Additional Questions & Answers
CFI is the global institution behind the financial modeling and valuation analyst FMVA® Designation. CFI is on a mission to enable anyone to be a great financial analyst and have a great career path. In order to help you advance your career, CFI has compiled many resources to assist you along the path.
In order to become a great financial analyst, here are some more questions and answers for you to discover:
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