The Advanced Real Estate Development Modeling Master Class (Udemy.com)

I am a "seasoned" CFO/consultant and over the years have invested in existing real estate. I now am delving into RE development and want to be able to evaluate the many deals that I see and might want to participate in or do myself. Hence this course and WOW!! -- this course exceeded my expectations! Justin is a great teacher both in the excel modeling as well as explaining the related RE concepts related to the model. Even the class participants questions are valuable! HIGHLY recommended!

Fantastic breakdown of a real estate development model. Highly detailed and informative. I would like to see some more content on the actual manipulating of the model, explanations between investment metrics, and discussion about what the higher level finance operations are capturing.

I love this class. I would recommend this for anyone in commercial Real Estate that wants to build a professional level pro forma. I have been building proformas for a couple years now and they didn't have all the features I've been wanting. I learned a great deal of information and got really comfortable with MS Excel during this course. Justin knows his stuff. I wish they would incorporate this class into my MRED Program.

Great course! You did a great job modeling the proforma in great detail. I did feel that some of the tabs could have been combined for more efficient modeling. For example, the financing tab could have been modeled within the monthly cash flows instead of linking the cash flows through an additional tab. Outside of that, it was great!

Great match for me...need to adjust terminology back to local Aus conditions but otherwise excellent content and delivery!

Great course. Just they way Justin (or his team) answer your questions, worth every penny you pay for all his courses. Not a single course answers your questions in the depth he does. The only thing i could suggest Justin to improve this courses would be a "theory section" prior to the model. Where he can state a fictional project that fits the model. So he can explain why some indicators are relevant and how can we interpret them in the industry. For instance he can explain in depth the leasing types (NNN, FGS, etc), Average IRR's depending on the project (commercial, residential, industrial). What values to aim and why. So we can know if we're within market benchmarks or not. He can use that space to explain in detail the different concepts he use in the model. why he rarely involves taxes or depreciation, etc. Mainly because i see much that of this questions are found in the Q&A section. I know this is more of a modeling course but i think that would be of great added value to everyone. And that's something i'd buy hands down. 10/10

This is the third of Kivel's courses I've taken, and just like the other two, it is excellent. With each of the models I've built while taking the courses, I've modified them to suit my particular situation without breaking the integrity of the model.

I spent the Thanksgiving Holiday week working through this and the Multifamily Development Model and can proudly say that I sit here, on the other side, with a great deal more understanding and sophistication for using Excel in a multitude of scenarios thanks to these courses. Highly recommend. I have completed the majority of these Break into CRE modeling courses and finally feel as if I have the muscle memory and intricate understanding of creating the piping and plumbing of these models, rather than inheriting one and learning to use this. I now feel that I have measurable Excel Prowess.

Justin is a phenomenal instructor with a high degree of knowledge and experience. I would consider both this course and the content very high-level, but all of the important concepts of institutional-quality commercial real analytics are presented here. If you really want to learn the complex concepts of both this level of CRE and Excel skills, this is the best course out there. Congrats, Justin - great stuff, please keep it coming!

I'm a highly experienced real estate analyst and Excel user and have already learned a ton of new Excel shortcuts. The nested/compounding formulas are pretty advanced. I would recommend that you do some of the calculations outside the monthly projections. For example, on the CRE leases tab, rather than calculating the weighted averages within the monthly projections, just create the weighted average (aka "blended") downtime and re-leasing costs along side the inputs. Then reference those calculations rather than recreating the calculation within each monthly projection. They are still dynamic because they are a result of the other drivers (renewal probability, re-leasing TI, LC, etc.) but it will make the projection formulas much easier for other users of the model to read and interpret.