Why This Course?

It's not easy to build a financial model, especially if you've never done it before. 

This course walks you through how to build a relatively detailed financial model for a real estate investment. We start with building a unlevered cash flow statement, add in a mortgage, and before you know it, we're doing valuation with IRRs, NPVs, and a data table. 

I've also included Excel workbooks for all of the incremental steps in addition to a final Excel workbook that has the complete solution. While there's a lot more to real estate finance and investment, this course is an excellent place to start. 

Best of all, after the course is over, the final workbook can be used on actual deals. 

- Josh Kahr 

Checklist

I've distilled 25+ years of model building into this short course. You'll gain a jumpstart on how build a financial model to analyze a real estate investment.

  • This is a step by step walkthrough of how to build a financial model for a real estate investment. I cover all of the major steps including building a cash flow statement, layering in a mortgage, and valuation.

  • The Excel files are unlocked and ready to use on your own deal. Keep them forever. Use or modify them as you see fit.

  • In addition to the basics, I cover building a "Data Table", varying the sale date to make it more flexible, and more.

  • You can work alongside me by downloading the incremental Excel files that cover each step. Or, if you'd prefer, just watch all the videos and download the final product.

Course curriculum

    1. Hello

      FREE PREVIEW

    1. Setting Up the Model

      FREE PREVIEW

    2. Assumptions, Excel File

    3. Deal Terms, #1

    1. Setting up the Income Side

    2. Expenses and Net Operating Income

    3. Unlevered Cash Flow, Excel file

    1. Setting Up the Mortgage

    2. Amortization Schedule, Excel file

    1. Levered Cash Flow

    2. Levered Cash Flow, Excel file

    1. Inflation Factors

    2. Capital Expenditures

    3. Adding Additional Detail, Excel file

About this course

  • $99.00
  • 24 lessons
  • 2 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.

Build your first financial model with confidence.

Enroll today