The Advanced Real Estate Equity Waterfall Modeling Class
The Advanced Real Estate Equity Waterfall Modeling Class, available at $99.99, has an average rating of 4.98, with 85 lectures, based on 492 reviews, and has 4382 subscribers.
You will learn about Learn to model real estate equity waterfall structures with a GP Catch-Up clause Learn to model waterfall structures with an LP clawback clause Learn to model waterfall structures with multiple preferred return hurdles (IRR & Equity Multiple) Learn to model waterfall structures based on cash-on-cash preferred return hurdles This course is ideal for individuals who are Real estate investors and investment professionals who want to learn to build advanced equity waterfall structures in Microsoft Excel from scratch or Real estate entrepreneurs who want to raise capital from investors and clearly present cash flows to investors and partners for their specific partnership structure or Aspiring real estate investment professionals who want to add a lucrative skill set to their resume It is particularly useful for Real estate investors and investment professionals who want to learn to build advanced equity waterfall structures in Microsoft Excel from scratch or Real estate entrepreneurs who want to raise capital from investors and clearly present cash flows to investors and partners for their specific partnership structure or Aspiring real estate investment professionals who want to add a lucrative skill set to their resume.
Enroll now: The Advanced Real Estate Equity Waterfall Modeling Class
Summary
Title: The Advanced Real Estate Equity Waterfall Modeling Class
Price: $99.99
Average Rating: 4.98
Number of Lectures: 85
Number of Published Lectures: 85
Number of Curriculum Items: 85
Number of Published Curriculum Objects: 85
Original Price: $199.99
Quality Status: approved
Status: Live
What You Will Learn
- Learn to model real estate equity waterfall structures with a GP Catch-Up clause
- Learn to model waterfall structures with an LP clawback clause
- Learn to model waterfall structures with multiple preferred return hurdles (IRR & Equity Multiple)
- Learn to model waterfall structures based on cash-on-cash preferred return hurdles
Who Should Attend
- Real estate investors and investment professionals who want to learn to build advanced equity waterfall structures in Microsoft Excel from scratch
- Real estate entrepreneurs who want to raise capital from investors and clearly present cash flows to investors and partners for their specific partnership structure
- Aspiring real estate investment professionals who want to add a lucrative skill set to their resume
Target Audiences
- Real estate investors and investment professionals who want to learn to build advanced equity waterfall structures in Microsoft Excel from scratch
- Real estate entrepreneurs who want to raise capital from investors and clearly present cash flows to investors and partners for their specific partnership structure
- Aspiring real estate investment professionals who want to add a lucrative skill set to their resume
Learn to model advanced real estate equity waterfall structures like catch-ups, clawbacks, multiple return hurdles, and more in a step-by-step, easy to understand way.
Real estate equity waterfall modeling is one of the most complex and advanced topics in real estate finance and financial modeling.
And with so many different structures out there, it can get overwhelming reallyquickly.
But fortunately, it doesn’t have to be.
If you’re looking to learn how to model complex equity waterfall structures like GP catch-ups, clawbacks, multiple return hurdles, and cash-on-cash return hurdles in an easy-to-understand, step-by-step way, you’re in the right place.
My name is Justin Kivel, and I’ve taught over 15,000 students real estate financial modeling and analysis through my Break Into CRE courses.
And personally, throughout my career I’ve modeled over $1.5 billion of closed commercial real estate acquisitions, each of which involved raising capital from equity investors, and incorporating a unique waterfall structure to match each specific deal.
In this course, we’re going to go step-by-step through building four real estate equity waterfall models from scratch:
The GP Catch-Up Model: In this model, we’ll cover how to build out a GP “Catch-Up” waterfall structure in Excel, where cash flows are split pari passu until a certain hurdle rate, then cash flows are split in a different ratio until the GP “catches up” to a certain percentage of the overall profits, and then an additional structure above that. And we’ll build it in a way where you can just change a few manual inputs, and everything else will change automatically for you.
The Clawback Model:In this model, we’ll build out a “Clawback” waterfall structure in Excel, where the GP or sponsor was paid promoted interest early in the fund life based on achieving high returns, but then is required to return that promoted interest at the end of the fund life if the fund as a whole did not hit the preferred returns it promised investors.
The Multiple Return Hurdle Model:In this model, we’ll build out a waterfall structure in which twodifferent hurdles need to be hit in order for the GP to earn promoted interest on the deal. For cases where you have an IRR hurdle and also an equity multiple hurdle, this will be your go-to resource.
The Cash-on-Cash Waterfall Model:In this model, we’ll build out a cash-on-cash based waterfall model. If you’re doing a deal that you don’t plan to sell any time soon, and want to get paid now (rather than after a return of capital), you’ll find this model extremely helpful. We’ll also include the build-out of a separate, back-end profit sharing structure, so you can customize the split of sale proceeds whenever you decide to sell the property.
We’ll also clearly explain what’s happening in each structure, behind the complex formulas that you see in Excel, so you know exactly how each structure functions in a real estate deal.
Here’s what some our students have had to say about the course:
★★★★★ “Very clear explanations! I like the repetition through the different examples to embed learning. It’s also helpful to say which shortcuts you are doing so that this becomes second nature.”
★★★★★ “This is amazing training. It covers those hands-on things which are hard to get without being into the CRE business. Very detailed, error-less explanation of complex scenarios.”
★★★★★ “Unbelievable course. I spent the weekend working through this and the prerequisite Equity Waterfall Modeling Master Class. This was the practical deep dive I needed to compliment my real world and academic exposure to Real Estate Private Equity.”
★★★★★ “Fantastic course, and just like with Justin’s other courses: crammed with great content and hands-on application. No fluff. Just into the materials and the mechanics. This course is rather advanced, but it covers a lot of different techniques, methods, and concepts.”
At the end of this course, you’ll be prepared to build a real estate equity waterfall model for any structure that’s thrown your way, whether you’re taking an Excel test for a real estate analyst or associate job at a real estate private equity or brokerage firm, or you’re syndicating capital to buy your first real estate deal and building out investor materials and models to calculate investor returns and promoted interest.
Ready to get started? Just click the enroll button and let’s start working through this step-by-step.
Looking forward to seeing you in class!
Course Curriculum
Chapter 1: Introduction
Lecture 1: What We Will Cover
Lecture 2: A Sneak Peek Into What You'll Build
Lecture 3: How This Course Is Structured
Lecture 4: About The Instructor
Lecture 5: Student Success Stories
Lecture 6: Download Me First!
Lecture 7: Disclaimer
Chapter 2: Advanced Waterfall Structures Explained
Lecture 1: Real Estate Partnership Breakdown
Lecture 2: Equity Waterfall Breakdown
Lecture 3: The Syndication Model
Lecture 4: The Fund Model
Lecture 5: Excel Financial Modeling Refresher
Chapter 3: Part 1 – The Cash-on-Cash Waterfall Model
Lecture 1: The Cash-on-Cash Hurdle Model Introduction
Lecture 2: Introduction To The Model
Lecture 3: Modeling Equity Percentages & Operating Metrics
Lecture 4: Project-Level Cash Flow Modeling
Lecture 5: Modeling Dynamic Cash Flow From Operations
Lecture 6: Modeling Dynamic Net Sale Proceeds
Lecture 7: GP & LP Equity Contributions
Lecture 8: Modeling The Preferred Cash-on-Cash Return Tier
Lecture 9: Building Out Days In Year (MAX(IF())
Lecture 10: Modeling Outstanding Equity Balance
Lecture 11: Calculating The Preferred Cash-on-Cash Return
Lecture 12: Finalizing The LP Preferred Cash-on-Cash Return Tier
Lecture 13: GP Contributions, Distributions, & Cash Flow
Lecture 14: The Preferred Cash-on-Cash Check
Lecture 15: Total Project-Level Cash-on-Cash Build-Out
Lecture 16: The Cash-on-Cash Promote Tier – LP
Lecture 17: The Cash-on-Cash Promote Tier – GP (& Check)
Lecture 18: Net Sale Proceeds Distributions
Lecture 19: Calculating GP & LP Cash Flows
Lecture 20: GP & LP Average Cash-on-Cash
Lecture 21: GP & LP IRR & Equity Multiple
Lecture 22: Calculating The GP Promoted Interest
Lecture 23: Modeling Project-Level Returns
Lecture 24: Check-In – One Down!
Chapter 4: Part 2 – The Dual Preferred Return Hurdle Waterfall Model
Lecture 1: The Dual Preferred Return Waterfall Model Introduction
Lecture 2: Modeling Equity Percentages
Lecture 3: Modeling Loan Metrics
Lecture 4: Building Out Cash Flow From Operations
Lecture 5: Modeling Net Sale Proceeds
Lecture 6: GP & LP Equity Contributions
Lecture 7: Preferred Return Modeling – Part 1
Lecture 8: Preferred Return Modeling – Part 2
Lecture 9: Modeling LP Distributions With Multiple Preferred Returns
Lecture 10: Modeling GP Cash Flow In The Preferred Return
Lecture 11: Preferred IRR & Equity Multiple Checks
Lecture 12: Building Out The Promoted Interest Tier
Lecture 13: Modeling LP & GP Cash Flows
Lecture 14: Calculating The GP Promoted Interest
Lecture 15: Finalizing Return Metrics
Lecture 16: Check-In – Two Down!
Chapter 5: Part 3 – The GP Catch-Up Waterfall Model
Lecture 1: The GP Catch-Up Waterfall Model Explained
Lecture 2: Modeling Equity Percentages
Lecture 3: Modeling Cash Flow From Operations
Lecture 4: Modeling Net Sale Proceeds
Lecture 5: GP & LP Equity Contributions
Lecture 6: Modeling The Preferred Return Tier (LP)
Lecture 7: Modeling The Preferred Return Tier (GP)
Lecture 8: Building Out The LP Catch-Up Cash Flows
Lecture 9: Building Out The GP Catch-Up Cash Flows (& Checks)
Lecture 10: Modeling Cash Flows Over The Catch-Up
Lecture 11: LP & GP Cash Flows & Return Metrics
Lecture 12: The GP Cash Flow Check & GP Promoted Interest Calculation
Lecture 13: Project-Level Return Finalization
Lecture 14: Check-In – One More To Go!
Chapter 6: Part 4 – The GP Catch-Up With Clawback Waterfall Model
Lecture 1: The GP Catch-Up With Clawback Waterfall Model Explained
Lecture 2: American vs. European Style Waterfalls
Lecture 3: The Fund & Clawback Timeline
Lecture 4: Modeling Equity Percentages & Total Cash Flows
Lecture 5: Modeling Equity Contributions
Lecture 6: Building Out The Preferred Return Tier (LP)
Lecture 7: Promoted Interest Visual Build-Out
Lecture 8: Building Out The Preferred Return Tier (GP)
Lecture 9: Modeling The GP & LP Catch-Up Cash Flows
Lecture 10: Building The Total Cash Flow Check
Lecture 11: Modeling Cash Flows Over The Catch-Up
Lecture 12: Modeling The LP Clawback – Part 1
Lecture 13: GP Cash Flows & Promoted Interest Calculation
Lecture 14: Modeling The LP Clawback – Part 2
Lecture 15: Finalizing GP Cash Flows & The Promoted Interest
Lecture 16: Finalizing The Model
Lecture 17: Check-In – You're Done!
Chapter 7: Wrapping Up
Lecture 1: Where To Go From Here
Chapter 8: Bonus Lecture
Lecture 1: Bonus Lecture – The Next Step
Instructors
-
Justin Kivel
Real Estate Investing & Financial Modeling
Rating Distribution
- 1 stars: 0 votes
- 2 stars: 1 votes
- 3 stars: 8 votes
- 4 stars: 86 votes
- 5 stars: 397 votes
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