Real Estate Financial Modelling School - In-house

Bayfield Training

Course summary

5 days

English

Worldwide

Next available date: Enquire for details - Worldwide

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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:

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.

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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

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 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...