Why This Course?

For over 20 years, I've taught real estate finance and real estate capital markets at leading graduate university programs. The one thing that always tripped students up was construction finance and development models. 

This course shows you the different methods that people use when building a development model. It especially focuses on how to model the financing of development. 

By the end of the course you'll be able to build, audit, and review financial models for real estate development. 

Enjoy. 

- Josh Kahr 

Topics

What are the topics that are covered in this course?

  • Complete walkthrough of all of the complexities that go into building a financial model for commercial real estate development.

  • Build to Hold and Build to Sell are fully explored. Sell an asset as a standalone deal or sell it in pieces.

  • Learn how circular interest calculations work, and how best to optimize models to avoid circularity.

  • All models are fully unlocked and yours to use. Save hours of time on your own projects.

Course curriculum

    1. Yield on Cost

      FREE PREVIEW
    2. The Four Parts

    1. Basic Construction Schedule

    2. Construction Loan and Cash Flow, Part 1

    3. Construction Loan and Cash Flow, Part 2

    4. What If the Equity Goes In First?

    1. Construction 1, Part 1

    2. Construction 1, Part 2

    1. Circular Calculations, One Step At a Time

    1. Build and Sell In Pieces

    2. Advanced Scheduling

About this course

  • $199.00
  • 29 lessons
  • 2.5 hours of video content

Instructor(s)

Joshua Kahr

Senior Instructor

Joshua Kahr is the principal of Kahr Real Estate Services, a training and consulting company that he founded in 2002 and that serves the commercial real estate industry. In 2009, he founded Metropolitan America, a real estate investment company that owns and manages apartment buildings in New Jersey. In 2020, he started Essex Suites, a coworking company, that opened its first location in Verona, New Jersey.

Prior to this, he held positions in investment sales at a regional brokerage firm in New York City and in acquisitions at a fund that focused on environmentally contaminated real estate.

He was on the board of directors of two public companies, Monmouth Capital Corporation and Monmouth Real Estate. He was an advisory board member of Assess+RE which was sold to LightBox in 2021. He is currently on the advisory board of clik.ai.

Mr. Kahr has served as an adjunct associate professor since 2005 for Columbia University’s MS in Real Estate Development program where he has taught real estate finance, real estate capital markets, and related topics. He has also served as an adjunct professor at Northwestern, New York University, and Georgetown University. For corporations, he has taught over 200 two-day seminars on Excel modeling and Argus.

Publications include two books on real estate market analysis, Real Estate Market Valuation and Analysis (John Wiley and Sons: 2005) and Beyond the Bubble (Amacom Books: 2007).

He has a Master of Science in Real Estate from New York University (’97) and a Bachelor of Arts in Economics from Reed College (’92).

He is also licensed as a real estate broker in New York and New Jersey.

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