Course description
Real Estate Financial Modelling School - 5 day Course
This intensive five day course from Bayfield Training is meticulously designed and teaches the best practices in Real Estate to create flexible and robust cash flows in Excel.
The week features interlinked content which is taken from three of Bayfield's courses:
- Real Estate Analyst
- Real Estate Investor
- Real Estate Modelling Masterclass
During this course participants will:
- Implement cash flows in excel throughout the whole week.
- In the first two days you will learn how to develop rent functions and net operating income. We will show you how to value and appraise property investments and analyses the results.
- On the third and fourth day you will learn how to model and analyse development projects using both residuals and cash flow methods. It will show you how to interrogate and compare alternative return metrics such as profit-equity multiples, profit and cost, net present value, worth and internal rate of return. You will also learn how to model cash flow from different sector office, retail and leisure.
- On the fifth day debt structures will be covered as well as joint ventures and partnership financing. You will also learn how to implement the full spectrum of the risk analysis from sensitivity to Monte Carlo.
Bayfield Training is a prominent global supplier of investment grade Real Estate executive education and they have a huge extended network of experts, specialists and professionals within the field of Real Estate Financial Modelling. Using both practitioners and academics who have studied and worked at the highest level, this course provided by Bayfield gives participants a total learning experience due to the relevant and up to date content.
Suitability - Who should attend?
Participants who will benefit from this course are:
- Real Estate professionals at any level with exposure to real estate financial models on a frequent basis
- Junior or new Real Estate Analysts who would like to start building their own real estate models quickly, rather than relying solely on coaching from existing team members
- Mid-level to senior Real Estate Analysts
- Real Estate Managers who would like to gain an understanding of the dynamics of debt and financial return fluctuations in more detail
- Property industry modellers who would like to be fully proficient in building complex financial models
Outcome / Qualification etc.
CPD Accredited training
- Real Estate Analyst
- Real Estate Investor
- Real Estate Masterclass
Training Course Content
Over the five days, this training course will cover:
Day One
Know how to build a property asset cash flow, analyse geared, and un-geared IRRs.
- Term & Reversion and Layer Method Valuation (Intro to Excel)
- Equivalent Yield (Solver, Scenario and Goal Seek functions)
- Single-Let Discounted Cash Flow
- Cash Flow inputs (Rents, Yields, Growth Rates, Target Returns)
- Analysis and use of date series
- Internal Rate of Return (IRR) and Net Present Value (NPV)
- Comparing Value, Price and Worth
- Adding borrowing and analysing geared returns
- Introducing Rent Reviews and other ‘events’ into cash flows
- The ‘Rent Function’ concept and Logic functions (IF,OR,AND)
- Sensitivity analysis
Day Two
Know how to build a multi-let property cash flow and apply the concepts on a real case study.
- The ‘Rent Function’ and Multi-let cash flows
- The ‘date problem’ and assumptions in property asset cash flows
- Reducing the rent function, intermediate calculations and modelling theory
- Modelling lease expiries, break clauses, voids, and upward only covenants
- Incorporating time-varying rental growth rates
- Analysing multi-let cash flows to see if the leases are sufficiently diversified
- Further IRR analysis (XIRR, MIRR)
Day Three
Real Estate Investor I
- Modelling international variations in real estate income streams i.e. Includes indexation patterns, rent caps, discounts / premiums to indexation, rent free periods, as well as how to deal with costs during vacancy
- Modelling sector variations in real estate income streams i.e. Office versus industrial, retail & leisure
- Further senior debt covenants
- Advance Rent Function techniques to manage feature rich lease structures
Day Four
Real Estate Investor II
- Introduction to development appraisals
- Residual models, site and profit calculations
- Development cash flows versus Investment cash flows
- Introduction to straight line versus S-curve costing
- Phased asset sales in development appraisals
- Discounting development cash flows
- Complimentary return metrics for development appraisals
- Introduction to development finance
Day Five
Real Estate Modelling Masterclass
- Mezzanine debt modelling
- Joint Venture structures between developers and lender/equity partners
- Promote and profit share structure calculations
- Advance project cash flows with mezzanine debts
- Key Real Estate and investment risks, risk adjustment of exit yields
- Sensitivity and Scenario Analysis
- Monte Carlo Analysis
Why choose Bayfield Training
Over 22 years in business
Original Content, Unique Delivery
+90% courses review rating from past delegates
Expenses
This Real Estate Financial Modelling School training is available to participants at £4,600 + VAT*.
*Price for a place on public course in the UK. Please enquire for prices relevant to other locations.
If required, the training is also available as an in-house course. Please contact Bayfield Training for more information.
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About provider
Bayfield Training - Real Estate Executive Education
Bayfield Training is a prominent global supplier of investment grade Real Estate executive education. Having begun as pioneers in the field of Real Estate Financial Modelling, today Bayfield has a huge extended network of experts, specialists and professionals within this...
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Bayfield Training
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