Real Estate Investment School
Description
The Real Estate Investment School is a four day course, that unravels the complexity of Investment Cash Flows through Advanced Modelling, Interpretation and Theory.
With a strong emphasis on practical application, you will gain a profound understanding of the complexities involved in analysing investment cash flows and interpreting their implications for effective decision-making.
Upon completion of the course, you will have the expertise to confidently model investment cash flows to a proficient level, empowering you to make informed financial decisions and drive positive outcomes for your investments.
The Investment focused school combines three of our courses:
On this course you will…
Construct Investment Financial Models starting from foundational principles
Learn how to value and appraise Property Investments
Gain a comprehensive understanding of modelling tenancy schedules, including lease structures, rental income projections, lease expiry analysis, and lease renewal
Develop proficiency in creating robust models
Understand how the application and use structure finance products in Real Estate
Learn advanced modelling techniques to analyse underlying asset risk
Appreciate the importance of data in Investment cash flow modelling
Who will benefit from this School?
Real Estate professionals at any level with exposure to real estate financial models on a frequent basis
Junior or new Real Estate Analysts who would like to start building their own Real Estate models quickly, rather than relying solely on coaching from existing team members
Mid-level to senior Real Estate Analysts
Real Estate Managers who would like to gain an understanding of the dynamics of debt and financial return fluctuations in more detail
Property industry modellers who would like to be fully proficient in building complex financial models
Course Outline
- 10:00 am - 4:00 pm
Day One: Real Estate Analyst I
Know how to build a property asset cash flow, analyse geared, and un-geared IRRs. Term & Reversion and Layer Method Valuation (Intro to Excel) Equivalent Yield (Solver, Scenario and Goal Seek functions) Single-Let Discounted Cash Flow Cash Flow inputs (Rents, Yields, Growth Rates, Target Returns) Analysis and use of date series Internal Rate of Return (IRR) and Net Present Value (NPV) Comparing Value, Price and Worth Adding borrowing and analysing geared returns Introducing Rent Reviews and other ‘events’ into cash flows The ‘Rent Function’ concept and Logic functions (IF,OR,AND) Sensitivity analysis
- 10:00 am - 4:00 pm
Day Two: Real Estate Analyst II
Know how to build a multi-let property cash flow and apply the concepts on a hypothetical case study. The ‘Rent Function’ and Multi-let cash flows The ‘date problem’ and assumptions in property asset cash flows Reducing the rent function, intermediate calculations and modelling theory Modelling lease expiries, break clauses, voids, and upward only covenants Incorporating time-varying rental growth rates Analysing multi-let cash flows to see if the leases are sufficiently diversified Further IRR analysis (XIRR, MIRR)
- 10:00 am - 4:00 pm
Day Three: Real Estate Modelling Masterclass
Mezzanine debt modelling Joint Venture structures between developers and lender/equity partners Promote and profit share structure calculations Advance project cash flows with mezzanine debts Key Real Estate and investment risks, risk adjustment of exit yields Sensitivity and Scenario Analysis Monte Carlo Analysis
- 10:00 am - 4:00 pm
Day Four: Understanding Key Principles of Real Estate Financial Modelling
Real Estate Financial Modelling Mathematics Time Value of Money Net Present Value (NPV) Internal Rare of Return (IRR) Growth What Discount Rate? Certainty of a cash flow Liquidity Price, Value & Worth Comparing Price, Value and Worth Conventional Valuation Methods Term and Reversion, Layer Method Property Yields and Capitalisation Method Exit calculations across Europe Discounting Cash Flow Models Investment Appraisal Models Cash flow inputs: Rents, Yields, Growth Rates, Target Returns Cash-on-Cash and Equity Multiple Discount Rates & Exit Cap Rate Operating Assumptions Adding borrowing and analysing geared returns Model Interpretation and Analysis Sensitivity analysis and scenario analysis Growth and inflation Performance measures Contemporary issues for analysis (such as the rise in interest rates)
Tickets for good, not greed Humanitix dedicates 100% of profits from booking fees to charity
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