The Real Estate Pro Forma Modeling Master Class (Udemy.com)
The Complete Step-By-Step Guide To Building Dynamic, Institutional-Quality Real Estate Pro Forma Models in Excel
Created by: Justin Kivel
Produced in 2021
What you will learn
- Learn how to build dynamic, institutional-grade real estate pro forma investment models from scratch
- Learn how to build customizations and triggers to maximize flexibility for any investment scenario
- Learn how to create institutional, professionally formatted models to present pro forma calculations to investors and partners
Quality Score
Content Quality
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Video Quality
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Qualified Instructor
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Course Pace
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Course Depth & Coverage
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Overall Score : 96 / 100
Course Description
Want to learn how to build professional, dynamic, institutional-quality real estatepro forma models in Microsoft Excel?
This course will take you by the hand and walk you step-by-step through the entire process. This is a project-based course, meaning you'll start with a blank Excel workbook andwalk away with a fully-functional, dynamic, eight-tabpro forma model that YOU'VEcreated -from scratch.
When I was first learning real estate financial modeling, I would downloadreal estate investment modelsor real estate investment calculatorson the internet, only to feeloverwhelmed and frustratedbythe complexfunctions and formulas everywhereinthe Excel file. And once I felt like I was getting used to one of these things, I still was petrified to touch or change anythingbecause I didn'twant to"break" the model.
And honestly, even if Iunderstood it and I believed the model was working correctly,I still had no idea if I could even trust the calculations in the first place.
If you've ever felt any of these things, this course will pull back the curtain and uncover the "Black Box" that most real estate financial models appear to be. By the end of this course, you'll be able to build a dynamic, professional-quality real estate pro forma model from scratch, and your first one will be done by the time you finish the last lecture.
This course will teach you how to build a real estate pro forma investment model the way the largest and most sophisticated private equity real estate firms look at deals. At the end of this course, you will be able to:
Build an institutional-quality, dynamic real estate pro forma investment model from scratchLearn key Excel shortcuts to double your real estate financial modeling speedModify and customize existing real estate pro forma models to fit your specific investment scenario and needsConfidently modelkey investment metrics such as the XIRR, Equity Multiple, and Cash-on-Cash returns, and calculate these metricsautomatically as you change manual input driversBuild a dynamic renovation budget that captures exactly when and how you plan to renovate the propertyModel renovation premiums and timing for aproperty renovationBuild out dynamic loan schedules and refinancing scenarios to accurately model any financing structureBuild formula "checks" to error-proof your work and feel confident your calculations areaccurate and can be trustedThis course is perfect for you if:
You're a college studentor graduate studentlooking to break into real estate investment after graduation, and you're looking to add the key technical skill sets to your arsenal that will put you head and shoulders above the competition and allow you to land a lucrative career opportunity in the fieldYou're a professional in a different field, but looking to buy real estate on the side and want to be able to confidently analyze a dealYou're an existing real estate professional looking to advance your career, increase your compensation,andbreak into thereal estate investment industry.
You've boughtrental homes orduplexes,and now you're looking to move into bigger propertiesand want to feel confident in your ability to analyze deals.
Here's what some of our students have had to say: "Great Course! I really enjoyed the pace, the content and the explanations. I have worked on complex real estate models before but still learned a lot in this course. Will definitely take another course from Justin. Highly recommended." "Justin does a great job of explaining how to underwrite a deal with this MBA-level course. Coming from Asset Management I thought I had a solid background into financial modeling, but later realized I was missing many of the advanced skills that are covered in this course. I recommend this course to anyone that wants to sharpen it's skills and move into the acquisition world. Justin is a great teacher and a very responsive one as well. (Usually responds the Q&A section within a day or two). As a bonus, I've sharpened my excel "shortcut" skills to another level! Thank you." "Justin, Is a very effective instructor. This course is well organized and he lays out the material at just the right pace. His responsiveness to all student questions makes the class feel interactive and shows that he's engaged in this with you. This master class was excellent! He walks you step-by-step through everything, so even if you don't understand certain things you can at least build the muscle memory by doing the steps to build the model and then review the reason behind the steps later, if you need to. I definitely built some neural pathways through this one!" "The course is very on par with my education in MRED. It covers a great deal of the real estate pro-forma modeling, with great insights and 'checks'. It is a great foundation and practical experience brought to the masses." "These classes are hands down the most valuable real estate modeling tools available online. The finished models themselves are useful, but the techniques you'll learn will give you the skillset to model any type of scenario you need. I work at a boutique investment and development firm and our principals and investment partners have been extremely impressed by the models I built based on Justin's coursework. I look forward to more classes in the future." "Great course! Very helpful in both demonstrating the nuts and bolts of constructing an in-depth CRE financial model, and discussing some KPIs important to an institutional investor or lender. The instructor was concise, articulate and very responsive to questions posed in the Q&A section. While the instructor takes you step-by-step, this is still a very technical course. A solid knowledge of finance, plus some background in real estate and light programming will go a long way in helping you understand what's happening while he's explaining. If you're an aspiring developer or looking to do more modeling for work, I highly recommend this course."If you have a basic understanding of real estate finance, and you're looking to apply that knowledge to analyze new real estate investment opportunities, enroll now and let's get started building this model together today. Looking forward to having you in the course!
Who this course is for:
Real estate investors and professionals who want to learn how to create dynamic, institutional-quality real estate pro forma models from scratchAspiring real estate investment professionals who want to begin a lucrative career in private equity real estateSingle-family home and duplex investors who are looking to go bigger with their investment properties and want to have the skill set to confidently analyze return projections on big deals
This course will take you by the hand and walk you step-by-step through the entire process. This is a project-based course, meaning you'll start with a blank Excel workbook andwalk away with a fully-functional, dynamic, eight-tabpro forma model that YOU'VEcreated -from scratch.
When I was first learning real estate financial modeling, I would downloadreal estate investment modelsor real estate investment calculatorson the internet, only to feeloverwhelmed and frustratedbythe complexfunctions and formulas everywhereinthe Excel file. And once I felt like I was getting used to one of these things, I still was petrified to touch or change anythingbecause I didn'twant to"break" the model.
And honestly, even if Iunderstood it and I believed the model was working correctly,I still had no idea if I could even trust the calculations in the first place.
If you've ever felt any of these things, this course will pull back the curtain and uncover the "Black Box" that most real estate financial models appear to be. By the end of this course, you'll be able to build a dynamic, professional-quality real estate pro forma model from scratch, and your first one will be done by the time you finish the last lecture.
This course will teach you how to build a real estate pro forma investment model the way the largest and most sophisticated private equity real estate firms look at deals. At the end of this course, you will be able to:
Build an institutional-quality, dynamic real estate pro forma investment model from scratchLearn key Excel shortcuts to double your real estate financial modeling speedModify and customize existing real estate pro forma models to fit your specific investment scenario and needsConfidently modelkey investment metrics such as the XIRR, Equity Multiple, and Cash-on-Cash returns, and calculate these metricsautomatically as you change manual input driversBuild a dynamic renovation budget that captures exactly when and how you plan to renovate the propertyModel renovation premiums and timing for aproperty renovationBuild out dynamic loan schedules and refinancing scenarios to accurately model any financing structureBuild formula "checks" to error-proof your work and feel confident your calculations areaccurate and can be trustedThis course is perfect for you if:
You're a college studentor graduate studentlooking to break into real estate investment after graduation, and you're looking to add the key technical skill sets to your arsenal that will put you head and shoulders above the competition and allow you to land a lucrative career opportunity in the fieldYou're a professional in a different field, but looking to buy real estate on the side and want to be able to confidently analyze a dealYou're an existing real estate professional looking to advance your career, increase your compensation,andbreak into thereal estate investment industry.
You've boughtrental homes orduplexes,and now you're looking to move into bigger propertiesand want to feel confident in your ability to analyze deals.
Here's what some of our students have had to say: "Great Course! I really enjoyed the pace, the content and the explanations. I have worked on complex real estate models before but still learned a lot in this course. Will definitely take another course from Justin. Highly recommended." "Justin does a great job of explaining how to underwrite a deal with this MBA-level course. Coming from Asset Management I thought I had a solid background into financial modeling, but later realized I was missing many of the advanced skills that are covered in this course. I recommend this course to anyone that wants to sharpen it's skills and move into the acquisition world. Justin is a great teacher and a very responsive one as well. (Usually responds the Q&A section within a day or two). As a bonus, I've sharpened my excel "shortcut" skills to another level! Thank you." "Justin, Is a very effective instructor. This course is well organized and he lays out the material at just the right pace. His responsiveness to all student questions makes the class feel interactive and shows that he's engaged in this with you. This master class was excellent! He walks you step-by-step through everything, so even if you don't understand certain things you can at least build the muscle memory by doing the steps to build the model and then review the reason behind the steps later, if you need to. I definitely built some neural pathways through this one!" "The course is very on par with my education in MRED. It covers a great deal of the real estate pro-forma modeling, with great insights and 'checks'. It is a great foundation and practical experience brought to the masses." "These classes are hands down the most valuable real estate modeling tools available online. The finished models themselves are useful, but the techniques you'll learn will give you the skillset to model any type of scenario you need. I work at a boutique investment and development firm and our principals and investment partners have been extremely impressed by the models I built based on Justin's coursework. I look forward to more classes in the future." "Great course! Very helpful in both demonstrating the nuts and bolts of constructing an in-depth CRE financial model, and discussing some KPIs important to an institutional investor or lender. The instructor was concise, articulate and very responsive to questions posed in the Q&A section. While the instructor takes you step-by-step, this is still a very technical course. A solid knowledge of finance, plus some background in real estate and light programming will go a long way in helping you understand what's happening while he's explaining. If you're an aspiring developer or looking to do more modeling for work, I highly recommend this course."If you have a basic understanding of real estate finance, and you're looking to apply that knowledge to analyze new real estate investment opportunities, enroll now and let's get started building this model together today. Looking forward to having you in the course!
Who this course is for:
Real estate investors and professionals who want to learn how to create dynamic, institutional-quality real estate pro forma models from scratchAspiring real estate investment professionals who want to begin a lucrative career in private equity real estateSingle-family home and duplex investors who are looking to go bigger with their investment properties and want to have the skill set to confidently analyze return projections on big deals
Instructor Details
- 4.8 Rating
177 Reviews
Justin Kivel
Master real estate financial modeling, advance your career, and earn more money.
If youre an aspiring real estate investment professional looking to break into the real estate investment field, or a current real estate professional looking to advance your career and increase your compensation, youre in the right place.
My name is Justin Kivel, and Im a real estate investment professional with a love for teaching. Throughout my career, Ive worked on over $1.5 billion of closed acquisitions across multifamily, retail, office, and mixed-use properties. Ive had the opportunity to work with some of the brightest minds in real estate investing and have spent almost a decade in the industry across private equity, finance, and brokerage roles.
Unfortunately, most of what I know today I had to learn on the job. Although great courses exist on Microsoft Excel and financial modeling, I couldnt find a resource that was specifically tailored toward real estate investment professionals that would actually walk me through exactly what I needed to know to succeed in the real estate investment industry.
These courses are that resource.
After dozens of phone calls and coffee meetings with college students and aspiring real estate investment professionals, I realized that most people were asking exactly what I was asking when I was in their shoes.
What skills do I actually need t
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