Our classroom training provides you the opportunity to interact with
instructors and benefit from face-to-face instruction. Course
Overview: Learn the fundamentals of Real Estate financial modelling
then apply this knowledge to the real world financial modelling
challenges in the property development sector. This course provides a
sound understanding of both the principles of real estate financial
modelling and the practical application of these to real-world
situations through the use of spreadsheets. The course then builds
upon the real estate financial modelling principles and practices
learned to apply these to property developments and the financing of
these. In this way, participants improve their mastery of real estate
investment evaluation principles and concepts, then see how to apply
these in practical applications. Finally, the course describes how to
both detect and prevent errors from occurring. Target Audience:
Property Analysts Finance Analysts Lenders/bankers involved with
property Property Consultants CFOs & Accountants Property Investors
Property Developers Property Syndicate Professionals Property Managers
Providers of Public Housing Projects Learning Objectives: Real estate
professionals often need to go beyond what pre-built financial models
like Estate Master provide. Examples include analysing unique
situations, complex deals, or just to ensure they understand the
fundamentals of their projects forecast. This course provides an
excellent grounding in building financial models for real estate
property developments of all kinds. The examples used are primarily
from projects where property is acquired, developed, then split-up and
sold (although the same principles can be applied to all kinds of real
estate financial modelling). If you already have some experience in
property investment or development, and would like to take your
modelling skills to the next level, making your models more flexible,
robust and user-friendly, then this is an excellent course for you.
Extensive worked examples and models are used throughout the course so
that participants gain valuable experience in designing solutions to
real-world financial modelling challenges in the property sector.
Prerequisites: None Course Materials: Students will receive a course
manual with presentation slides and reference materials. Examination:
There is no exam for this course. Technical Requirements: For eBooks:
Internet for downloading the eBook Laptop, tablet, Smartphone, eReader
(No Kindle) Adobe DRM supported software (e.g. Digital Editions,
Bluefire Reader) eBook download and activation instructions Agenda:
Day 1: Advanced Excel Workshop This one-day intensive workshop helps
participants to get the most out of the remainder of the course. It
covers key, advanced areas of Excel that are relevant to real estate
financial modelling and project evaluation. Here are just some of the
areas we cover in our in-depth, hands-on workshop: Working with large
data sets Summarising and aggregating data Extracting data that
matches criteria using flexible formulas Error handling Ways of
improving structure Techniques for keeping formulas consistent yet
flexible Combining and splitting cells according to the content they
contain Advanced techniques for creating automatically expanding
charts and ranges Introduction to macros & when to use these We then
apply and practise these functions during the remainder of the course.
Day 2: Introduction Brief Introduction to Real Estate Financial
Modelling What is a financial model? What is included in the scope of
a financial model? What makes a good spreadsheet model? Principles of
Best Practice Real Estate Financial Modelling The 7 steps of financial
model building How to compare and contrast different scenarios Best
practice guidelines and financial modelling standards Compare and
contrast functions, formatting and functionality Designing for
flexibility and scalability Designing for consistency Designing for
usability and functionality Designing checks and balances Best
practices for creating and displaying checks and balances Using
financial modelling standards Compare different financial modelling
standards Examples of standards and how to apply these Setting up
Excel for efficient financial modelling Learn the tips and techniques
that will dramatically speed up the creation of your financial models
Using VBA in financial models When is it appropriate & when is it not
appropriate? What things is it best suited for in financial modelling?
Case Study: Modelling with Standards Identify the key components of a
standards-based, real estate financial modelling template Day 3:
Finance and Valuation Concepts Topics covered include: Principles of
discounted cash flow (DCF) modelling Investment indicators: WACC, NPV,
IRR, Payback Valuation techniques & considerations Escalation factors
for revenue, costs and CAPEX S-Curve real estate financial modelling
for construction costs Modelling uncertainty using sensitivity &
scenario analysis Model optimisation to consider constraints: tools
and techniques available Presentation and interpretation of results:
charts & presentations Methods for comparing and selecting projects:
key charts & techniques Case Study Part 1: Model Scoping, Timeline &
Structure Design and scope the model: what should be
included/excluded? What are the key outputs & sensitivities? How will
the model need to be designed to provide these? Case Study Part 2:
Inputs & Assumptions How to design and build a model that is flexible,
robust, and user-friendly. Learn how to allow for future expansion,
change of strategy, different scenarios and sensitivities in a way
that allows the user to easily switch between these. Case Study Part
3: Cash Flow Model Create a cash flow model for a property development
project, building up the model line-by-line. Day 4: Debt and Finance
Modelling How to model debt finance in property models. Topics covered
include: Typical banking covenants and financing arrangements Simple
debt schedules More complex debt waterfalls Dealing with fees,
interest expense, drawdowns, and interest capitalisation Cash sweep
Case Study Part 4: Financing Extend your model to include debt
financing and loan covenants Case Study Part 5: Investment indicators
Calculate and sense-check the key outputs: charts, investment
indicators. Case Study Part 6: Scenarios & Sensitivities Identify key
risk areas and then incorporate sensitivity factors for these. Build a
sophisticated scenario manager to run multiple scenarios and highlight
the results. Control of Financial Models How to detect and prevent
errors from occurring. Topics covered include: Why audit financial
models? Excels auditing tools Automated testing tools: role, purpose,
limitations, demonstration Model documentation Case Study Part 7:
Controls & Checks Build controls and checks then summarise these so
the models integrity can be checked and reviewed easily.
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14/12/2021 Last update