Training Courses

Financial Modelling for Real Estate Investment

Development cash flows, tenancy schedules, debt structures and returns. Build a best-practice real estate model from a single asset through to a consolidated portfolio, with the funding structures and return analysis that drive confident investment decisions.

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2 daysPractitioner-led
Hands-onYou build the model,
not watch one being built
In person or digitalDelivered in person
and worldwide online
Take awayThe completed model files
and templates

Who this is for

For emerging and established real estate investors

Financial Modelling for Real Estate Investment is built for property investors and portfolio managers who need a best-practice modelling skill set for detailed portfolio analysis, not a generic Excel course dressed up in property language.

Working confidence in Excel is assumed; no prior financial modelling course is required. The case-study model runs on a real estate project throughout, so techniques can be put into action immediately after the course ends.

You will get the most from this course if

You manage or analyse a property portfolio and need a detailed, defensible model to support investment decisions
You need to consolidate multiple assets into a portfolio view, not just model one building
You want to build flexible funding, investment and ratio analysis into your own models
You want practical grounding in the VBA environment, including goal-seeking macros

What you will learn

From a single asset to a consolidated portfolio

Seven modules take a real estate case-study model from best-practice foundations through multi-asset consolidation, portfolio funding, scenario analysis and VBA.

Principles of best practice

Understand how to use our financial modelling methodology
Good versus bad Excel modelling: a workshop with examples of poor and best practice
Create a corporate standard: use custom styles to standardise your layout and communication
Walk through best-practice governance and incorporate self-checking formulas into your model

Build the model engine

Discuss the purpose of the case-study model, its key business drivers and the impact on design
Build the timing architecture and operational modules for commercial assets on a standalone basis, to learn best-practice technique first
Learn a structured approach to calculating rental income, maintenance capex, depreciation, revaluation, acquisition and divestment
Discuss the high-level accounting concepts behind each of these, in preparation for modelling three-way financial statements

Best-practice DCF valuation

Understand key valuation considerations at the single-asset, portfolio and investor level
Calculate and analyse NPV and IRR, using the capitalisation method for single-asset valuation
Contrast portfolio and single-asset valuations

Multi-asset and portfolio modelling

Understand different approaches to modelling multi-asset models, extending a single asset to multiple assets
Learn efficient ways of consolidating multiple assets into different trusts or entities
Make changes across multiple sheets: know the easy mistakes and how to avoid them

Portfolio-level operating earnings

Insert a portfolio funding facility into the cashflow waterfall of the case-study model
Discuss debt amortisation and typical debt covenants, such as gearing and interest coverage, at portfolio level
Include other portfolio-level items, such as fund expenses and management fees, to accurately model operating earnings

Scenario manager and automation

Save critical time and deliver rapid analysis with our approach to scenario management
Transform scenarios into an efficient way to test and analyse the model
Create meaningful analysis to review the effect of sales and acquisitions of assets within the portfolio

Macros and the VBA environment

Discuss the reason for macros in models, and ways to avoid a “black box”
Create a goal-seeking macro to flex inputs and achieve a desired return
Use VBA to control data tables so they do not adversely affect calculation speed

Next available dates

Upcoming courses

How the course runs

You learn modelling by modelling

Interactive, instructor-led and built on a single modelling standard that has been taught to more than 20,000 people. You build the model yourself with individual coaching through every exercise, and you keep the completed files.

This course also runs privately: see in-house training for delivery built around your team and sector, or browse the full course portfolio.

Our trainers

Learn from a practitioner

Our courses are led by experienced members of our financial modelling and model audit teams. The trainers below run this course frequently, but your session could be led by any member of our team.

Joshua Grimm

Director, Singapore

Joshua leads the development and delivery of financial modelling training courses for Forvis Mazars in Asia. His expertise covers areas such as project finance modelling for large-scale renewable energy, utilities and infrastructure projects, as well as corporate finance modelling for M&A transactions and internal FP&A. He has supported clients with their projects from feasibility through financial close, all the way to operations.

Hitansh Doda

Director, Sydney

Hitansh is a professional model builder for Forvis Mazars, with extensive experience in financial model building and development across infrastructure finance and other diverse sectors. He focuses on financial modelling and analysis of renewable energy assets and infrastructure projects.

Leigh Tomlinson

Director, London

Leigh is an ACA chartered accountant with over 16 years of financial modelling experience. He has a wide range of sector and international deal experience, and is responsible for leading the development of financial models across the energy, infrastructure and environment sectors.

Contact our training team

Book this course

Dates, prices and online booking are on the course schedule. Not sure it is the right course? Ask us.