Financial Modeling

Introduction
My Top 10 Realizations
Following Along in the Course
Download Course Files
Excel Obstacle Course
An Easy Way to Understand Excel
Obstacle Course Part 1: First Steps
Obstacle Course Part 2: Adding Space
Obstacle Course Part 3: Making a String of Calculations
Obstacle Course Part 4: Making an Accounting Module
Obstacle Course Part 5: Using “Functions”
Obstacle Course Part 6: Wrap Up
Model Design + Case Study
Information Architecture
Take a Snapshot of Your Starting Knowledge
Types of Buildings We Can Model
Case Study in Brooklyn
A Tour Through the Model
The One Pager
Revenue
Revenue Tab Option 1
On Naming and Saving Files
Reminder to Save As
Revenue Tab Option 2
Revenue Tab Option 2: Parking
Revenue Tab: Coding the Bottom of the Sheet
Leasing
Leasing Overview
Coding the Leasing Module
Expenses
Operating Expenses Part 1
Operating Expenses Part 2
Development Budget
My Quick Math for Cost Feasibility
Development Budget: Everything that Goes In
Cost Data for Our Case Study
Development Budget: Options 1, 2, and 3
Coding the Bottom of the Development Budget
The Basic Economic Picture of this Deal
Timing Assumptions and Business Models
Assumptions Tab: Metadata
Business Models and Timing Part 1
Timing Assumptions: Part 2
Timing Assumptions: Part 3
Growth Assumptions
Turning Year 1 into All 10 Years
Understanding Valuation
The Central Riddle of Real Estate Finance
How to Understand Valuation: A New Approach
How to Understand Valuation: A Few Advanced Notes
How to Understand Valuation: Wrap Up
Valuation Rates for Our Case Study
NOI Lookup for Valuations
Financing Concepts
Where Can We Get $90,000,000?
Intro to Debt Financing
Mortgage Math Part 1: Overview
Mortgage Math Part 2: Amortization Tables
Mortgage Math Part 3: The Payment Function
Mortgage Math Part 4: The Future Value Function
Mortgage Math Part 5: The Debt Service Coverage Ratio
The Financing Tab
Three Different Types of Loans
Loans Used Module
Loan Timing Part 1
Loan Timing Part 2
Loan Sizing Part 1
Loan Sizing Part 2 – DSCR
Loan Sizing Part 3 – LTV
Loan Sizing Part 3 – LTV Additional Notes
Refinancing
Loan Summary
Equity Sizing
Financing Summary
Guest Appearance
Income Statement
The Income Statement: Part 1, Getting to Cashflow Line
The Income Statement: Part 2, Gain on Sale
The Income Statement: Part 3, Total Cashflows with Sale Gain
The Income Statement: Part 4, CF by Source + Payback
Waterfalls
Waterfalls: Why Go to the Trouble?
Two Counter-intuitive Things About Waterfall Math
Filling Out the Waterfall Assumptions
Returning Capital and Paying Preferred Returns: Part 1
Returning Capital and Paying Preferred Returns: Part 2
Distributing Promote 1
Distributing Promotes 2 and 3
Cumulative Returns: How It All Shakes Out
Summary and Experimenting
Making a PDF Summary
Extra Summary Metrics 1: Return by Source
Extra Summary Metrics 2: Cashflow Obligations
Experimenting with Returns
The IRR and the RRR
Add-On: Construction Draw Schedule
Intro to Draw Schedule
Uses: Part 1
Uses: Part 2
Sources: Autosourcing
Sources: Construction Interest
Add-On: Commercial Revenue Tab
Intro to Commercial
Commercial Option 1: Part 1
Commercial Option 1: Part 2
Commercial Option 2: Part 1
Commercial Option 2: Part 2
Commercial Option 2: Part 3
Commercial Option 3
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The Central Riddle of Real Estate Finance

Financial Modeling The Central Riddle of Real Estate Finance
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