The Real Estate Analyst
Whether you’re looking to go into commercial or private equity real estate, our real estate financial modeling course will help you succeed.
Deep dive into traditional real estate investments, and master the skills needed to complete a comprehensive REIT valuation model based on real company data.
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3000+ students enrolled
11
Hours
12
Topics
53
Practical exercises
2
Exams
The Real Estate Analyst includes
- Introduction to Real Estate
- Measuring Real Estate
- Lease Types
- Pro rata calculations
- Base year stop
- The Cash Flow Statement
- Rental Revenues
- Gross versus Net
- Modeling revenues from different types of assets
- Renewal probability
- Additional Income
- Percentage Rent
- Operating expenditures
- Capital Expenditures
- Income Taxes
- Overview of the capital structures
- Debt
- Loan sizing (LTV and LTC)
- Amortizing loans with balloons
- Mezzanine
- Equity
- Preferred vs common
- GPs and LPs
- Promoted interest
- Equity Waterfalls
- Calculation and comparison cap rates
- IRR, Cash on Cash Yield, Breakeven, Multiple of Money
- Going in and Exit Cap Rates
- Financing sources and uses
- Differing Lease types and pro rata calculations
- Rental revenues and adjustments
- Operating expenditures and reimbursements
- Capex, Tis, Reserves, Lease commission
- Unlevered and levered cash flows
- Return metrics
- What is a REIT?
- How a REIT is structured
- Presentation in the financials
- How REITs grow
- Defining and calculating Funds from Operations (FFO)
- Defining and calculating Adjusted Funds from Operations (AFFO)
- Understanding straight-line leases
- Summary of IFRS 40
- FFO and AFFO for non-US REITs
- Impact on valuation
- Calculating NOI
- How leases and property types affect cap rate
- Applying the analysis to investments
- Preparing the supplemental calculations of Revenues & Costs
- Preparing fixed assets calculations of Property Acquisitions, Property Development/Redevelopment, Asset Disposals
- Calculating Dividends using FFO
- Calculating Equity Investments and NCI
- Preparing the Income Statement
- Preparing the Balance Sheet
- Preparing the Cash Flow Statement
- Calculating the Debt and Equity needed to fund future growth
- How valuing REITs differs from traditional corporates
- Valuation using NAV, trading and transaction comparables, and DCF
- Calculating cost of capital for a REIT
- Calculating fully diluted shares
- Calculating the operating assets with capitalized income
- Calculating equity investments and other operating, non-real-estate assets
- Calculating liabilities and other claims on assets
- Calculating WACC
- Calculating PV of FCF
- Determining dilution from future equity issuances
- Calculating terminal valuing using multiples and perpetuity method
- Running sensitivities
The Real Estate Analyst
| Micro-Degree
Real Estate Investing
4
Hours
22
Practical exercises
1
Exam
Master the skills needed to analyze and interpret market data to inform investment decisions. Get an overview of the capital structures, calculation, and comparison cap rates and a comprehensive cash flow model for a real estate transaction from purchase to sale.
Real Estate Forecasting
30 video minutes
6 excel exercises
Video minutes 30
Excel Exercises 6
Real Estate Financing
22 video minutes
4 excel exercises
Video minutes 22
Excel Exercises 4
Cap Rates and Other Metrics
12 video minutes
2 excel exercises
Video minutes 12
Excel Exercises 2
Real Estate Case Study Model
74 video minutes
10 excel exercises
Video minutes 74
Excel Exercises 10
Real Estate (REIT) Modeling and Valuation
6.5
Hours
8
Topics
31
Practical exercises
1
Exam
Get to grips with real estate modeling and valuation in full. Bridge the gap between your existing accounting knowledge and learn what REITs are, how to analyze them, and how to value them with our online real estate investing course. Master the critical skills needed to complete a comprehensive REIT valuation model based on real company data.
Introduction to REITs
10 video minutes
0 excel exercises
Video minutes 10
Excel Exercises 0
FFO and AFFO
15 video minutes
3 excel exercises
Video minutes 15
Excel Exercises 3
US GAAP vs IFRS
3 video minutes
0 excel exercises
Video minutes 3
Excel Exercises 0
Cap Rates
14 video minutes
2 excel exercises
Video minutes 14
Excel Exercises 2
Building a REIT Operating Model
63 video minutes
13 excel exercises
Video minutes 63
Excel Exercises 13
REIT Valuation
32 video minutes
2 excel exercises
Video minutes 32
Excel Exercises 2
Comprehensive REIT Valuation Model - NAV
14 video minutes
4 excel exercises
Video minutes 14
Excel Exercises 4
Comprehensive REIT Valuation Model - DCF
30 video minutes
7 excel exercises
Video minutes 30
Excel Exercises 7
Skills & Learning Objectives in The Real Estate Analyst Micro-Degree
Learn from our expert instructors
Learn more about our full facultyReviewed by Industry Experts
Colin Evans
Managing Director at J.P. Morgan
Colin Evans is a Managing Director at J.P Morgan and leads the financial institutions coverage team globally for the Corporate Banking.
Dr. Bridget Lyons
Professor of Finance
Professor of Finance at the Jack Welch College of Business at Sacred Heart University and Associate Instructor.
Chris Bishko
CFO
CFO with over 25 years experience as an operator, investor and investment banker in technology and financial services.
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- Everything in the Boost plan
- Streamlined company data
- Current and historic filings for over 7000 companies
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- Ready-to-use sector and transaction models
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| Single Course | Boost Plan | Pro Plan | |
|---|---|---|---|
| Completion certificates | 38 | 38 | |
| Skills certificates | 2 | 51 | 51 |
| Micro-degrees | 1 | 12 | 12 |
| Lifetime access to course | |||
| Expert instructor support | |||
| Practical exercises to work alongside videos and quick quizzes to test your understanding | |||
| Searchable library of 370+ playlists, 3500+ videos and Q&As | |||
| 10 role-based learning pathways, including Investment Banking, Equity Research, Sales and Trading and more | |||
| Weekly live webinars | |||
| Streamlined company data (WACC. & EV bridge calculator, custom comparables) | |||
| Current and historic filings for over 7,500 firms globally | |||
| Current and historic filings for over 4,000 US firms | |||
| Link to, label and share data points in filings (limited to 10 for Free and Boost users, unlimited for Pro) | |||
| Regional and industry data sets | |||
| Ready-to-use sector and transaction models | |||
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