Udemyintermediateen

The Real Estate Equity Waterfall Modeling Master Class

Learn to build dynamic real estate equity waterfall models in Excel. Master financial analysis & investment strategy. From scratch!

4.9(2,325)
14,422students
2h 38m
Certificate
Justin Kivel
Justin KivelReal Estate Investing & Financial Modeling

Course Content

The Real Estate Equity Waterfall Modeling Master Class is an intermediate-level Udemy course taught by Justin Kivel. It runs 2h 38m, is taught in English, and includes a certificate of completion. Learners rate it 4.9 out of 5 from 2,325 reviews, with 14,422 students enrolled. It is a paid course, last updated October 2025.

Unlock the secrets of real estate equity waterfall modeling with this comprehensive master class! Learn to build dynamic, multi-tier real estate equity waterfall models from scratch in Excel, step-by-step, with guidance from industry expert Justin Kivel.

Justin Kivel brings over $1.5 billion in closed commercial real estate transactions experience, having worked with top investment, brokerage, and lending firms. He's also taught real estate financial modeling and analysis to thousands through Break Into CRE.

This practical course provides a clear, easy-to-follow guide to understanding real estate equity waterfalls, how they function in real-world scenarios, and the practical application of building these models in Excel.

What you'll learn:

  • Real Estate Equity Waterfall Basics: Explore key concepts including JV equity partnerships, preferred returns, and promoted interest.
  • Excel Modeling from Scratch: Master the process of building a complete real estate equity waterfall model in Excel.
  • Institutional-Quality Model: Develop a robust, professional-grade equity waterfall model you can use for your own projects.

Who is this course for?

This course is ideal for:

  • Individuals looking to break into real estate private equity.
  • Those starting their own real estate investment or development firm.
  • Anyone seeking to raise capital from equity partners to fund real estate transactions.
  • Real estate analysts looking to enhance their skills and prepare for job interviews.

What students are saying:

"Justin hits just the right balance between the big picture and the nuts and bolts of building the worksheet, and, therefore, truly understanding it."

"Clear and straightforward. Wow! Amazed at this curriculum. He has made something super difficult easy and he explains it super clear. Its like meeting a super cool private equity guy spend the time to show you step by step. He can make your career!"

"This course is highly recommended for individuals wanting to learn about equity waterfall modeling. It's obvious that the instructor understands this topic very well and he presents it in a very simplified manner."

"Highly detailed and informative. Great for analysts who are just getting started. It's like taking an MBA level course!"

"This is a phenomenal course as are Justin's other courses. I am a commercial real estate professional working as an analyst at a 'Big Four' broker and have found all these courses to be invaluable, particularly if you are concerned about the technical test for job interviews."

Ready to build your own real estate equity waterfall model? Click "Buy Now" and join the class!

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