REFM

Real Estate Financial Modeling Course.

Real estate financial modeling

Our real estate financial modeling (REFM) course is designed to teach you how to build a development model in Excel from the ground up.

Real estate developers have 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

Our REFM course covers the following topics:

  • Industry Overview
  • 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 of 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
  • Certificate of completion

Want to learn more? Take free trial of our REFM course now!

Additional resources

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:

To find out more about finance careers out our interactive Career Map.