Udemyintermediateen

The Advanced Real Estate Development Modeling Master Class

Learn to build commercial real estate pro forma models from scratch! Master financial analysis for real estate development and investment. Practical skills for investors.

4.9(532)
4,796students
14h 59m
Certificate
Justin Kivel
Justin KivelReal Estate Investing & Financial Modeling

Course Content

The Advanced Real Estate Development Modeling Master Class is an intermediate-level Udemy course taught by Justin Kivel. It runs 14h 59m, is taught in English, and includes a certificate of completion. Learners rate it 4.9 out of 5 from 532 reviews, with 4,796 students enrolled. It is a paid course, last updated October 2025.

Learn to build commercial real estate development pro forma models from scratch in Microsoft Excel! This comprehensive course guides you step-by-step through creating professional, dynamic, and institutional-quality financial models for office, retail, and industrial projects.

Tired of overwhelming, complex real estate financial modeling templates? This course demystifies the process, revealing the "Black Box" behind sophisticated CRE development pro forma creation. You'll move from a blank Excel workbook to a fully functional, end-to-end model, gaining confidence in your calculations and the ability to modify and adapt the model to your specific needs.

Master these key skills:

  • Build Dynamic Models: Create institutional-quality commercial real estate development pro forma models for office, retail, and industrial properties without expensive software.
  • Advanced Financing: Model complex real estate financing structures, including mezzanine construction debt and dynamic permanent loan sizing, accounting for multiple constraints.
  • Sources & Uses Table: Develop a dynamic sources and uses table to accurately forecast funding requirements for your development projects.
  • Lease Structures: Model intricate commercial real estate lease structures in Excel, encompassing NNN, FSG, MG, and BYS reimbursement, custom rent escalations, and percentage rent clauses.
  • Re-leasing Scenarios: Create dynamic re-leasing scenarios based on renewal probabilities and assumptions to automatically project future lease cash flows.
  • Investor Distributions: Model monthly, quarterly, and annual investor distributions with easy switching between options.
  • Customizable Reporting: Build custom charts and graphs that automatically populate your model for investor, lender, and partner presentations.
  • Error Checking: Implement formula "checks" to quickly identify and correct errors, ensuring confidence in your real estate development financial modeling.

This course is ideal for:

  • Real Estate Students: College and graduate students seeking to enter the real estate development field with in-demand technical skills. Boost your resume and land internships/full-time positions.
  • Real Estate Professionals: Experienced professionals looking to advance their careers and increase earning potential through expert real estate financial modeling.
  • Finance Professionals: Individuals with a basic understanding of real estate finance who want to elevate their skills for analyzing land acquisition and ground-up commercial real estate development opportunities.

What our students are saying:

"Great course, amazing content made relatively simple... Really Grateful."

"Very clear explanations! I like the repetition through the different examples to embed learning. It's also helpful to say which shortcuts you are doing so that this becomes second nature."

"Fantastic course, crammed with great content and hands-on application. No fluff. Just into the materials and the mechanics."

Ready to take your real estate financial modeling skills to the next level? Enroll today and gain the expertise to confidently analyze and develop profitable commercial real estate projects!

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