Fundamentals of Analyzing Real Estate Investments (Udemy.com)
Learn professional investment analysis techniques for real estate investing in residential and commercial properties
Created by: Symon He
Last updated November 2023
Our take
Based on the ratings of 15,117 students, a sample of their written reviews and the syllabus, as the course stood in November 2023. No course pays to be reviewed.
This is a long, Excel-driven course on judging real estate deals. It starts with foundations: the investment process, market cycles, how returns are measured and how debt changes them. Then come case studies for a fix and flip, a rental, a multifamily building and several commercial properties, plus a section on splitting profits with partners through a waterfall. An Airbnb extra closes it out. It runs 18.7 hours over 153 lectures and needs Excel 2011 or newer. The audience is investors and agents who like working with numbers.
Most reviewers are happy. They call it technical and to the point, and one valuer says it sharpened the metrics used at work. Instructor Symon He gets credit for clear math and tools students can use right away. The complaints are consistent, though. Some find it basic, one found the start slow, and one reviewer says the models are handed over without showing how to build the formulas. Another felt much of it was theory and overview. One reviewer also found a linked YouTube demo had gone private.
The course was last updated in November 2023, so check any market assumptions against current conditions. About 89 percent of its 15,117 ratings are four or five stars, with roughly 110,000 students enrolled. It sits beside a financial modeling bootcamp and a mortgage processing course, but this one is about deciding whether a property deal is any good. A solid pick for beginners and agents who want a broad toolkit. Skip it if deep modeling is the goal.
Pros
- Case studies for flips, rentals, multifamily and commercial deals, so each property type gets its own walkthrough
- Comes with Excel models students can start using on real deals during the course
- Covers profit splits with business partners through a 16-lecture waterfall section
- Reviewers describe the teaching as direct and technical, with no padding
Cons
- Some reviewers find the material basic or overview-level, and one found the start slow
- Models are supplied rather than built from scratch, and one student wanted the formulas explained
- Last updated in November 2023, and at least one linked demo video is now private
It has been an eye opener for me on the detail and investment metrics used in evaluating property investment opportunities. As a valuer/appraiser this will improve my skills.
All Levels fits, though one reviewer already knew the first three sections, another found the start slow, and Excel is required.
What you will learn
- Confidently Evaluate the Return Potential of Any Real Estate Investment Opportunity
- Know a "Good" Investment from a "Bad" Investment
- Use Professional Grade Investment Models to Evaluate Your Deals
- Evaluate Rental Income Properties
- Evaluate Fix & Flips
- Evaluate Commercial Properties
- Evaluate Airbnb Properties
- Use Smart Investment Deal Structures With Business Partners
- Understand and Use Professional Real Estate Investment Strategies & Techniques
Course content
18 sections · 153 lectures · 19 hours of video 5 quizzes, 20 articles
- 1Intro: Why Do We Care About Investment Analysis? 2 free previews6 lectures · 29 min
- 2Jumpstart 4 free previews9 lectures · 38 min
- 3Foundations: Investment Process 1 free preview10 lectures · 1 quiz · 40 min
- 4Foundations: Real Estate Cycles6 lectures · 34 min
- 5Foundations: How to Measure Returns 5 free previews12 lectures · 1 quiz · 59 min
- 6Foundations: Impact of Debt on Return 2 free previews6 lectures · 20 min
- 7Foundations: Investment Considerations 1 free preview6 lectures · 1 quiz · 53 min
- 8Foundations: Three Primary Investment Strategies 1 free preview5 lectures · 1 quiz · 35 min
- 9Check In2 lectures · 2 min
- 10How to Invest with Others - Intro to the Waterfall Framework 4 free previews16 lectures · 1 quiz · 1.1 hours
- 11Fix & Flip Case Study 3 free previews6 lectures · 30 min
- 12Rental Income Property Case Study 1 free preview6 lectures · 25 min
- 13Multifamily Investment Case Study5 lectures · 40 min
- 14Commercial Real Estate Case Studies19 lectures · 3.6 hours
- 15Waterfall Framework Implementation in Excel5 lectures · 30 min
- 16Appendix: Special Topics and Examples 5 free previews18 lectures · 3 hours
- 17Extra Topic: How to Evaluate Airbnb Hosting as an Investment14 lectures · 3.5 hours
- 18New to Udemy? 2 free previews2 lectures · 21 min
Who it is for
The instructor says it suits
- Newbie real estate investors
- Experienced commercial and/or residential real estate investors
- People that want to invest in House Flips, Rental Properties or Apartments
- Those that want to invest in commercial warehouses, parking lots, retail properties, etc...
- Great for private investors and investment teams
- Real Estate Agents Seeking Tools to Appeal to Investor Audience
- Those who want to make BANK with Airbnb
- MBA Students, iBankers, Financial Analysts
What you need before you start
- Have Microsoft Excel 2011 or Newer
How it compares
Against the other 75 rated Udemy courses in Real Estate on CourseDuck:
- Rating4.7 out of 5higher than 58% of them
- Reviews15,117#1 of 76 by number of reviews
- Length18.7 hourslonger than 97% of them
- Last updatedNovember 2023earlier than 61% of them
Course Description
Welcome to Fundamentals of Analyzing Real Estate Investments, my practical course on how to use professional techniques to evaluate investment opportunities in real estate. This course has been propelling students from total beginners to confident practitioners in a matter of weeks.
Here is what a few of my students have to say:
James McCarthy: 5 stars
For the most bang for your buck, this is the most value-packed course I have on Udemy out of 84. The tools and materials in this course are top-notch. This course is a clear investment in achieving my investment goals. You're not likely going to build a house without a hammer. You need the right tool for the job, and this is it!"
Dave Clinton: 5 Stars
“The instructor not only gave you a strategy but also showed you how to apply it in real-world situations.”
Bradley Garza, 5 Stars
“Tremendous value—just a wealth of content and knowledge I don't see anywhere else. The investment models and examples alone are worth 100 times what I paid for this course. The instructor is responsive and continues to update the content. Thank you, Symon!”
Mark Forest, 5 Stars
“There is a tremendous amount of information in this course that far surpasses anything else offered by Udemy.
It doesn’t matter what facet of the real estate investment industry you are interested in; this course is full of invaluable information that will save you time and, if you apply what you learn, money.
Inside, you’ll find useful information on:
• Rental Income Properties
• Fix and Flip
• Multifamily Apartments
• Commercial Properties
• Land Development
• and a whole lot more!
Want to know what real estate investment analysis is all about?
Tired of "no money down/get rich like me" real estate investing "secrets" from supposed real estate gurus that leave you filled with nothing but marketing fluff and upsells trying to convince you to purchase their ten thousand dollar elite coaching program?
Me too. That’s why I developed this course for students who are looking for actual results and not a magic bullet.
I can't promise I'll help you get rich enough to buy your own yacht and a pair of Ferraris, but I can teach you some serious real estate investment analysis techniques. The same techniques are used by the best and most successful investors.
If you want to learn the real fundamentals of real estate investing and how to actually evaluate investment opportunities the way professional investors do, this is the course for you.
After getting my MBA from Stanford, I became a licensed broker and real estate consultant and worked on over 400 million dollars in real estate deals. I’ve spent hundreds of hours on research, not counting the countless deals I’ve made over the years.
And I’ve taken all that knowledge and put it all into this course.
Jim Bo: 5 Stars
“This is a very detailed and thorough course that covers many aspects and builds a solid foundation for real estate investing. In addition to superb videos, Symon does an excellent job of promptly answering all your questions with a lot of details. Anyone who is thinking about investing in real estate should take this course!”
Nelson Robertson: 5 Stars
“Well organized, thorough, and easy to follow. Symon makes a point to be very responsive to questions and provides very detailed answers. Tremendous value.”
How do you know if this course is right for you?
Have you ever wanted to
• Invest with business partners, but do so in a smart and fair way.
• Want to appeal to investor clients as an agent?
• Want to land an acquisitions role as an analyst or associate?
• Want to get into real estate private equity and need to get up to speed?
• Want to be able to analyze any real estate opportunity?
• Look at and evaluate deals the way a professional investor would.
• Become smarter and more efficient at finding and evaluating deals than you did before.
• Know what Airbnb short-term rentals are all about and if it's worth your effort.
• Become an agent who could target investor clients instead of just home buyers?
• Do you have professional investment analysis tools that you could use immediately to evaluate your own investment opportunities?
• Get into a real estate acquisitions role (analyst or associate) in real estate i-banking or private equity (you get 20+ investment models or examples!)
If you answered yes to any of the above, then this course is definitely for you.
Theododre Catillo: 5 Stars
“Very comprehensive. Much more than I expected. I recommend it to anyone wanting a solid foundation.
Priska Prasetya: 5 Stars
“Easy to understand. The teacher makes the explanation simple. Highly recommended!”
Jorge Juyo: 5 Stars
“The information is really well organized and presented; Symon uses all the media and audiovisual aids possible, and that makes it easy to follow.”
_______________________________________
Frequently asked questions
______________________________________
I don't live in the US; is the material still relevant to me?
Yes! While all of the examples use US properties, all of the concepts taught and tools provided are just as useful for any market around the world. In fact, I have students from over 190 countries who are learning and using the tools provided in the course to help them invest in their local area.
What if I don't have any real estate background?
Perfect! I start you off with a heavy dose of the fundamentals, so students with no experience or background can get the most out of the rest of the course. Check out my foundational sections below.
I have some real estate background already; what could I learn from your course?
Besides everything listed above, I’ll show you how to answer these types of questions for every kind of real estate property:
• How do you know if a particular investment is worth your time and money?
• How do you know if property A is better than property B?
• How do you find deals that make sense for you? That fits your risk preferences and goals?
Instructor Details
- 4.7 Rating
15,117 Reviews
Symon He
Symon He is the author of the Rental Property Investing QuickStart Guide, Amazon best-seller Real Estate Investing QuickStart Guide, and the co-author of Airbnb for Dummies, all available now on Amazon and in bookstores throughout North America.
He is also co-founder of LearnBNB, a leading online educational destination for all things Airbnb hosting and short-term rentals. His works have been cited or featured on the Wall Street Journal, Reuters, Forbes, CNBC, Entrepreneur, and SKIFT. Through his training and coaching programs, he has worked directly with thousands of aspiring Airbnb hosts to jumpstart their short term rental journeys. His training programs have been featured by prominent third-party partners, including a joint venture with RichDad.
As a licensed broker, Symon previously helped private real estate investors with their acquisitions and deal structuring. As an angel investor, he also advises and invests in early stage startups.
Previously, Symon worked in several corporate real estate and finance roles at large private and Fortune 80 companies, including at a private equity investment firm covering a wide range of commercial real estate acquisitions in the western USA.
Symon received dual degrees in Computer Engineering and Economics with Honors from UC Irvine and an MBA from Stanford University.
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Reviews
By Florin A. on 5/10/2026
Real Estate Investor: Very good content. Kudos for the effort to build this content. You have where to choose, what area you want to focus on and you have tools to start (investing in the real world) right during the course. The author is very good at mathematics technique and It is worth combining it with graphic expressions of balance sheet expansion.
By Simone Alizia on 4/12/2026
I think so. I understand the first 3 sections since this is something I already knew. I am looking forward to learning more.
By Udemy BD on 1/15/2026
The content is quite good and comprehensive I have to say, but some of the references are not working. For example, "LIVE DEMO - Las Vegas and Los Angeles Rental Property Analysis & Q&A" https://www.youtube.com/watch?v=oSl1dJvvQQ0 - this video has been made private..
By Alexandru Rahaian on 1/14/2022
was good and descriptive even tho sometimes i felt like some of the stuff was a little bit basic, but also helpful. it has plenty of examples and its not that hard to understand if you have a little bit of real estate knowledge. its pretty detailed and focused on multiple types of real estate which is great cuz you have everything in one course. would recommend
By Mary Anderson on 11/14/2020
Good information and like the example.
By Ali Mehboob on 11/7/2020
Good Training
By Sean Mooney on 10/20/2020
I am learning some new skills,Thank you
By Roimenzin on 10/19/2020
subtitle!!
By Sridhar Mohan on 10/18/2020
So far explained in simple terms and understandable
By Monika Desler on 10/12/2020
The teacher speaks too slow. I practically fall asleep during lectures. I'm sorry to say that but for that reason I don't feel like I want to continue the course. I am annoyed by its melancholic style.
By Shahar Kalmus on 9/27/2020
so much useful information. the excel sheets are in depth, accurate and can be used in real investments. saves so much time than doing all those calculations by myself.
By Chien-Hao Chen on 9/26/2020
Useful knowledge.
Quality Score
No CourseDuck member has rated this course yet. Taken it? Give each part a thumbs up or down.
Overall Score : 94 / 100












