Really engaging and helpful course which covered a lot. The trainer was great!
Real Estate Development School
London
London, United Kingdom
Description
The Real Estate Development School is a five day course that focuses on both the theoretical and practical elements of Commercial Real Estate Development. The training starts with two days surrounding the theory of Real Estate development, this will provide delegates with a grounding of the subject matter. On day three the school will introduce Microsoft Excel and essential Real Estate Financial Modelling theory. On days four and five, the school will delve into practical Financial Modelling skills, focused on building a Development cash flow model.
This course will educate the delegate on Risk Management, Finance, Legal, Regulatory, Bureaucratic and Practical aspects of the Development process, to help provide the delegate with a full understanding of the Development lifecycle.
Upon completion of the course, you will have the expertise to confidently model Real Estate Development cash flows to a proficient level, empowering you to make informed financial decisions through your enhanced understanding of Real Estate Development in its entirety.
The Real Estate Development School combines three of our courses:
On this course you will…
Learn what constitutes Development physically and economically
Gain an insight into the Development Process at a Macro & Micro level
Recognise spreadsheet navigation and presentation tricks
Learn spreadsheet modelling best practice
Understand financial mathematics & conventional valuations
Develop proficiency in creating robust models
Construct a Development focused Financial Model starting from foundational principles
Analyse financial and project completion risks
Who will benefit from this School?
Real Estate Professionals who would like to update their skills in latest practices in Development
Professionals practicing in an associated field, Legal, Planning, Managing, Agency, Owners and Financiers
Graduates looking to work in corporate Real Estate development
Managers who would like to communicate more effectively with investors and owners during the formation phases of development
Real Estate professionals at any level with exposure to real estate financial models on a frequent basis
APC candidates
Mid-Senior professionals looking for a refresher on core model building skills and best practice
School Variations Available
Five Days – CRED, IREE & RED
Three Days – IREE & RED
Course Outline
- 10:00 am - 4:00 pm
Day One: Commercial Real Estate Developer
Why Develop? The Real Estate Market System Development Models The Economics of Development Who Develops? Profiles of Developers Risk and Rewards of different types of project Who builds what and why? What to Develop Use looking for a site Site looking for a use Planning inputs Feasibility Best Use Value Viability Assessments Worth vs Value Financing Delivery Evaluation Market Analysis Design Principals Time line and risk profile
- 10:00 am - 4:00 pm
Day Two: Commercial Real Estate Developer
A Macro View External influencers Development pressure and prospects Disposal of Development Parties to Development & Agendas Owners, Tenants, Public Sector Development Team Contractors Agency
- 10:00 am - 4:00 pm
Day Three: Introduction to Real Estate in Excel
Spreadsheet modelling best practice Modelling Life Cycle Types of Model Modelling Timescale Financial mathematics Introduction Compound Growth Present Values (PV) Net Present Value (NPV) Internal Rate of Return (IRR) Conventional valuations Introduction Term & Reversion Layer Method Over Rented Equivalent Yield Real Estate cash flow models (Single-Let) Introduction – Understanding UK Leases Annual Discounted Cash Flows “What If” Analysis Quarterly Discounted Cash Flow Cash Flows with Rent Review Multiple Rent Reviews Pivot tables, V-Lookups, Data Tables and More… Additional topics: IF & SUMIF Sensitivity Analysis: Data Table & Changing Calculation Options V-Lookups Pivot Tables
- 10:00 am - 4:00 pm
Day Four: Real Estate Developer
Learn how to build a discounted cash flow, analyse returns and understand the components of development models Gross versus Net Yields, calculating Net Development Value (NDV) Profit residual, with and without financing Site residual, how to calculate profit without knowing your costs. Introducing financing to site residual calculations Purchase price and acquisition costs Phased Sales, marketing and disposal costs Modelling construction costs using straight line basis, fixed costs, variable costs, incidental costs and construction fees Professional fees Income and expenditure project functions Logic functions, logic tables and array formula
- 10:00 am - 4:00 pm
Day Five: Real Estate Developer
Learn how to build a detailed property development project cash flow, add financing and perform risk analysis on commercial development projects Multiple IRRs, competing projects, scoping and linear programming, maximising performance Return metrics: Equity profit ratio (EPR), Costs paid out of proceeds (POP), Profit on cost ratio (PCR) Alternative site calculation, Net present value (NPV) Modelling construction costs using S-curve , variable costs, incidental costs and construction fees Switching between scenarios Introduction to Development financing, Pari Passu versus Equity First Financing Debt scheduling: brought forward and carried forward method Consideration of the impact of development finance interest, fees and covenants
Testimonials
Bayfield's Real Estate Developer course is a great way of familiarising yourself with how to create flexible development appraisal models.
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