Course curriculum

  • 1

    Introduction

    • Course introduction

    • Download Excel templates

    • Course objectives

    • Terms and definitions

    • Development timeline

    • Project finance vs corporate finance

    • Capital stack for project finance

    • Financial modeling best practices

    • Quiz

  • 2

    Cap Rates and NOI

    • Session objectives

    • Overview of cap rates and net operating income (NOI)

    • Completing assumptions

    • Revenue and expenses

    • Calculating NOI

    • Sensitivity analysis

    • Valuation matrix

    • Download completed cap rate and NOI model

    • Quiz

  • 3

    Land Loans and Construction Loans

    • Land loan

    • Land loan case study - assignment

    • Funding construction loan

    • Quiz

  • 4

    Real Estate Development Model

    • Development model overview

    • Assumptions overview

    • Assumptions raw data

    • Schedule and property stats

    • Development costs

    • Sales assumptions

    • Financing assumptions

    • Dynamic time periods

    • Absorption

    • Closings

    • Revenue build up

    • Expenses

    • Costs to fund and proceeds to repay capital

    • Loans and financing

    • Debt schedule

    • Check debt schedule

    • Levered free cash flow and IRR

    • Quiz

  • 5

    Joint Ventures & Cash Flow Waterfalls

    • Session objectives

    • Joint ventures (JVs)

    • Disproportionate returns

    • Waterfall logic and structure

    • Setting up the JV structure in the model

    • Modeling equity contributions

    • Waterfall modeling - tier 1

    • Waterfall modeling - tier 2

    • Waterfall modeling - tier 3

    • Summary of distributions and cash flow

    • IRR & NPV by investor type

    • IRR scenarios

    • Quiz

  • 6

    Financial Analysis Output

    • Overview

    • Page setup

    • Development pro forma

    • Profit outputs

    • Setup for sensitivity analysis

    • Sensitivity analysis

    • Quiz

  • 7

    Final Product

    • Download completed Excel model

    • Summary

  • 8

    Qualified Assessment

    • Qualified assessment

    • Share Your Feedback

    • Course Completion