Description
This Course Is For You If You Want To
This is a good fit if you want to:
- Understand the purposes and unique characteristics of modeling for real estate developments
- Get a holistic view of the four phases of real estate development and their component parts
- Grasp the concept of residual land valuation and how developers make assessments based on the results it provides
Details
In this course, you will learn about debt financing, walk through an income-producing property cash flow set up, learn about investment yield and returns metrics and how to calculate them, and take a deeper look at the discounted cash flow model.
- What makes ground-up development different as a real estate business model
- The four sequential phases of the development processes and their comprising activities
- Development budget cost categories and typical ratios as percentage of total project cost
- How cost outlays look in profile over time, by category and in concert with one another
- How sources and uses of funds summaries are presented in a typical pro forma
- Key development modeling differences for different property types
This is a slide presentation course with an associated multiple choice quiz. You will watch the video and, if you choose, complete the quiz and review the answers given when the quiz is automatically graded.
The video running time is 37 minutes. Watching all the video (replaying parts where desired) and completing the quiz and reviewing the answers will take approximately 45 to 50 minutes, depending on the individual.
Through the direct experience of REFM’s principals in commercial real estate transactions, and REFM’s ongoing consulting to industry practitioners across the U.S. for the last decade, we have developed and have continually refined “The REFM Way” of teaching general commercial real estate principles and the specific practice of financial modeling.
To enhance your learning and help you to efficiently build a practical knowledge base, we:
- Always set the stage by providing the big picture first
- Speak in plain language and define industry terms on an ongoing basis
- Draw with “ink” on the slides to help you follow the lesson and grasp important points
- Give you highly granular video chapter hyperlinks so you can find what you want quickly and easily.
Upon successful completion of this course, you will:
- Have gained a holistic conceptual understanding the residual land valuation process
- Have learned about the interdependencies of the major activities in real estate development
- Have an appreciation for the scale and timing of the various cost elements in development.
What You Get
Lifetime online access to:
- An easily-navigated 37-minute video tutorial with playback controls up to 2x speed. Videos have captions available and are playable on any device including PC, Mac, phones and tablets.
- PDF file of the 40 slides presented in the video
- 10-question quiz (multiple-choice, automatically graded) and answer key.
Meet Your Instructor
Since 2009, top companies and educational institutions have trusted REFM to train thousands of their employees and students.
New to REFM training?
Clients Include
Clients Include
Amherst
ASB Capital Management
Barings
BentallGreenOak
BrightSpire
Brixmor
Brookfield
CapitalOne
CBRE Global Investors
CCRE
Centennial Bank
Citibank
ColonyNorthstar
Conrex
CPPIB
CRC Companies
CreditSuisse
Crescent Communities
Crow Holdings
DDG
DLA Piper
Greystar
GTIS Partners
Hodes Weill & Associates
Houlihan Lokey
Howard Hughes
Jamestown
JBG Smith
JPMorganChase
Kennedy Wilson
Link Logistics
LivCor
Lubert-Adler
Macys
Oxford Properties
Park Hill
Peterson Companies
PGIM
PN Hoffman
Prometheus
QuadReal
Related
Revantage
SEO
Skanska USA
Square Mile Capital
USAA Real Estate
Asset Living
CBRE Global Investors
Clark Enterprises
Comstock Homes
Conor Commercial
Crescent Communities
Federal City Property
Flournoy
Four Seasons
Grosvenor
GTIS Partners
Hines
Hoffman
Howard Hughes
HPET
Hunt Companies
Insight Property Group
Kettler
LaSalle Investment
MadisonMarquette
Markwood
Mesa Capital
Midway
Miller Valentine
Panoramic Interests
PEG Development
Renaissance Downtowns
Rockefeller Group
Skanska USA
Snavely Group
Trammell Crow Residential
Trion Properties
Vornado
Video Chapter Markers
- Agenda
- What is financial modeling?
- Purposes of development modeling
- Acquisition vs. Development modeling
- What makes ground-up development different?
- The real estate development process
- 1st phase: Pursuit/Site Control
- 2nd phase: Pre-Construction/Entitlement
- 3rd phase: Construction
- 4th phase: Post-Construction/Stabilization
- Review of phases
- Residual land valuation basics
- Residual land valuation process part 1
- Targeted levels of development returns
- Residual land valuation process part 2
- Multi-period development pro-forma components
- Uses of funds
- Sources of funds
- Matching nature of sources and uses
- Major cost categories ratios
- Land and transfer costs ratios
- Land costs in profile
- Hard costs
- Bell-shaped curves
- Hard costs in profile
- Soft costs
- Soft costs in profile
- Hard costs vs. Soft costs
- Furniture, Fixtures & Equipment (FF&E)
- FF&E in profile
- Financing costs
- Financing costs in profile
- Total uses of funds all categories in profile
- Matching sources of funds profile
- Modeling differences for different property types.
