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Real Estate Modelling Completed Models and Exercises


This page includes various videos and files that are designed to be used before and after a real estate modelling course. The first file, the CDO exercise, is for a structured finance model that demonstrates fundamental issues in setting-up a model and it is described in the article titled "creating a financial model." The hotel model files are intended for people who are beginning the model. Watching each video and working through each exercise may take a while. But you can take a quick look at the first video and some or all of the exercises related to building a hotel model if you want a big head start on the basic modelling course. The videos and model files after the series of videos for building a hotel model such as the featured real estate model address more advanced issues that involve simulating a portfolio of projects and financing those projects. The advanced models use a percent of time function along with functions to adjust for quarterly analysis. Other difficult issues involve simulating a lease roll for a commercial building and modelling progress payments for a portfolio of residential projects.






Models and that Address Portfolio Issues Associated with different types of Real Estate Models:




This is a solar rooftop analysis that involves identical issues to real estate analysis that include creating a portfolio with different characteristics including start dates, end dates changes in utilisation and operating expenses. It includes detail methods for computing working and financing. There is a set of 15 videos that constitutes a course associated with both basic and advanced issues associated with this analysis.




This is an analysis where multiple SPV's are consolidated into a portfolio. A major innovation in the analysis is use of a flexible template for the SPV that includes currency risks and different types of financing. A macro copies that SPV to multiple different sheets. The INDIRECT function along with MATCH and INDEX are used to consolidate the SPV's and analyse the results.

Featured Real Estate Model with Videos


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Hotel Model On-line Lesson







Model of Project Portfolio (This introduces the model set-up and using the INDEX function for analysis of portfolios
Model of Single Hotel Project (This is a basic model that is analogous to project finance models)
Model of Investment portfolio using data table






This model illustrates some of the tricky issues that arise in real estate modeling.
The biggest problem is reflecting a portfolio of different projects that have different construction start dates, S-curves, sales rates and other items. These problems can be resolved through effective use of date functions where a common time line is established and the start and end date for every project is computed on rows.


Unique Aspects of Real Estate Models on Website

Real estate models are related to project finance and corporate models but involve modeling portfolios of assets (multiple phases of residential homes, commercial buildings combined with shopping centers and so forth). Unique aspects of real estate models included on the website include developing portfolios of projects with different start dates, holding periods and construction profiles using functions, data tables or macros and modeling portfolios of leases with different terms through working with date functions.





List of Videos and Associated Files for Real Estate Financial Models



Subject

Excel Exercise File

Video

Chapter Reference

Page Reference











Creating Strutured Finance Model

CDO Exercise 1

https://www.youtube.com/watch?v=6giYxjcmCUU

Chapter 4

31

Hotel Part 1 - Assumptions

Hotel Assumptions

https://www.youtube.com/watch?v=NagN1M1KcdY

Chapter 4

31

Hotel Part 2 - Time Line

Hotel Time Line

https://www.youtube.com/watch?v=gGz5GZRlMGU

Chapter 4

31

Hotel Part 3 - Operations

Hotel Operations

https://www.youtube.com/watch?v=dfOXusUYNE0

Chapter 4

31

Hotel Part 4 - Free Cash Flow

Hotel Free Cash Flow

https://www.youtube.com/watch?v=pNdhQ6wdlPM

Chapter 4

31

Hotel Part 5 - Financing

Hotel Financing

https://www.youtube.com/watch?v=72Vev-jq_bs

Chapter 4

31

Hotel Part 5 - Summary

Hotel Summary

https://www.youtube.com/watch?v=NwG7ZseKJgA

Chapter 4

31

Comprehensive Mixed Use Model

Comprehensive Mixed Use Model

https://www.youtube.com/watch?v=kGnA5ERldKY





Featured Real Estate Model - Mixed Use Analysis

Featured Real Estate Model

https://www.youtube.com/watch?v=LSaNdaFhTSU





Featured Real Estate Model - Residential Analysis

Featured Real Estate Model

https://www.youtube.com/watch?v=LSaNdaFhTSU





Featured Real Estate Model - Commercial Building Analysis

Featured Real Estate Model

https://www.youtube.com/watch?v=ZqqYGkvTUlk





Shopping Mall Exercise









Working with Percent of Time Function









Residential Model Exercise









End of Quarter Function









Mixed Use Exercise Simple









Financing in Single Project Model









Financing in Mixed Use Model









Lease Roll Exercise









Lease Roll in Commercial Building

Commercial with Lease Roll

https://www.youtube.com/watch?v=YESKXJcYU1U

Chapter 47

586

Construction Loan with Two Projects

IDC and Circularity with Real Estate

https://www.youtube.com/watch?v=IF89o7cZB5M

Chapter 47

586

Construction Loan with Copy and Paste Macro

IDC and Circularity in Real Estate with Copy Paste

https://www.youtube.com/watch?v=eOmnx8Dow0g

Chapter 47

586

Construction Loan with Function

IDC and Circularity in Real Estate with Function

https://www.youtube.com/watch?v=buGo-1-T7BQ

Chapter 47

586

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