Real Estate Financial Modeling Course

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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

Hours

Topics

Practical exercises

Exams

The Real Estate Analyst includes

The Real Estate Analyst

| Micro-Degree

Real Estate Investing

| Skills Certificate

Hours

Practical exercises

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

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

Real Estate Financing

22 video minutes

4 excel exercises

Video minutes 22

Excel Exercises 4

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

Cap Rates and Other Metrics

12 video minutes

2 excel exercises

Video minutes 12

Excel Exercises 2

Calculation and comparison cap rates
IRR, Cash on Cash Yield, Breakeven, Multiple of Money

Real Estate Case Study Model

74 video minutes

10 excel exercises

Video minutes 74

Excel Exercises 10

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

Real Estate (REIT) Modeling and Valuation

| Skills Certificate

6.5

Hours

Topics

Practical exercises

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

What is a REIT?
How a REIT is structured
Presentation in the financials
How REITs grow

FFO and AFFO

15 video minutes

3 excel exercises

Video minutes 15

Excel Exercises 3

Defining and calculating Funds from Operations (FFO)
Defining and calculating Adjusted Funds from Operations (AFFO)
Understanding straight-line leases

US GAAP vs IFRS

3 video minutes

0 excel exercises

Video minutes 3

Excel Exercises 0

Summary of IFRS 40
FFO and AFFO for non-US REITs
Impact on valuation

Cap Rates

14 video minutes

2 excel exercises

Video minutes 14

Excel Exercises 2

Calculating NOI
How leases and property types affect cap rate
Applying the analysis to investments

Building a REIT Operating Model

63 video minutes

13 excel exercises

Video minutes 63

Excel Exercises 13

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

REIT Valuation

32 video minutes

2 excel exercises

Video minutes 32

Excel Exercises 2

How valuing REITs differs from traditional corporates
Valuation using NAV, trading and transaction comparables, and DCF
Calculating cost of capital for a REIT

Comprehensive REIT Valuation Model - NAV

14 video minutes

4 excel exercises

Video minutes 14

Excel Exercises 4

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

Comprehensive REIT Valuation Model - DCF

30 video minutes

7 excel exercises

Video minutes 30

Excel Exercises 7

Calculating WACC
Calculating PV of FCF
Determining dilution from future equity issuances
Calculating terminal valuing using multiples and perpetuity method
Running sensitivities

Skills & Learning Objectives in The Real Estate Analyst Micro-Degree

Learn from our expert instructors

Alastair Matchett

–

Ex-J.P. Morgan

Andrea Ward

–

Ex-Lehman Brothers

Gerard Kelly

–

Ex-Ernst & Young

Deborah Taylor

–

Ex-Barclays director

Petter Ljunggren

–

Ex-Goldman Sachs

Jonathan Rugg

–

Ex-Lloyds private banking

Andrew Jones

–

Ex-Standard Bank

Learn more about our full faculty

Reviewed 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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Pro includes:

Everything in the Boost plan
Streamlined company data
Current and historic filings for over 7000 companies
Market and industry data
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

	Single course £339 Start learning	Boost £449/year Expand skills	Pro £699/year Maximize potential

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What tech do I need?

Access your course across desktop, laptop, tablet or phone; either via our web portal or the dedicated mobile app. While we have optimized our video quality and size, we recommend a broadband connection to enable uninterrupted video playback. A PDF reader and spreadsheet application are required to open the supporting resources.

Is it right for me?

Our online courses reflect the training new analysts receive at the leading financial organizations. They're challenging, but if you want to demonstrate you are as good as the best in the industry then this is the course for you. The top investment banks will recognize our micro-degree certifications, making them perfect for graduates looking to land a job or a professional preparing for a new role.

Are Financial Edge's courses credible?

The leading investment banks, as rated by the FT, hire us to train their incoming analysts. If you are looking to join the best analysts in the world, why not challenge yourself with the same content and certification with the same Wall Street instructors ready to answer your questions.

Will the Real Estate Analyst help me get a job?

Absolutely. Develop practical skills you can use to impress at interviews, whether you’re looking to break into finance or change roles.

How long do I have to complete the Real Estate Analyst ?

Everyone works at their own pace so there's no restrictions, all you need is an active Felix plan for the course you are completing. All Felix plans renew annually.

Are there any hidden costs?

No. Everything you need is included, from instructor-led videos and Excel exercises to the exams.

What support will I get along the way?

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