Pro forma Modeling
Collapse Excel Tips and Shortcuts for Real Estate Professionals
Do you know how to use Excel to build quick models but would like to learn how to reuse what you build? The biggest challenge for intermediate Excel users is to learn how to build models that are not only powerful and customized for a particular project, but also contain reusable components. This information-packed webinar will present tips, shortcuts, and strategies so that you can reuse what you build in multiple models and save substantial time.

Attendee Takeaways:
  • Learn how to structure your financial models to maximize efficiency
  • Learn how to build a library of reusable tools
  • Learn how to best plan your “attack” when designing a financial model
Formats Available: Streaming
Original Program Date: October 18, 2016
On-Demand Release Date: Available Now
MORE INFOMORE INFO Excel Tips and Shortcuts for Real Estate Professionals
Collapse Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (January 2017)
 This is the second course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 


Building on the first pro-forma modeling course, this four-part online program will help further build the participants' financial modeling and Excel skills. Students will learn more advanced Excel functions for valuation, amortization, rent roll, construction and permanent financing, construction draws, and cash flows.

In each session, students will receive concise direction in spreadsheet construction. At the end of the last session, students will have a complete pro-forma model that can be scaled further to include waterfalls, stochastic processes, portfolio analysis, and visual displays of results.


Each session of the workshop is designed to build on the previous one. Participants are expected to use learned skills to build individual sections and maintain the pace of the workshop. However, as in the first course, the completed stages will be distributed at the end of each session.


Students Will Learn


  • Advanced Excel skills required to build a development pro forma for a multifamily project of any size;
  • Graphically demonstrate the construction draw;
  • Develop the methodology for drawing construction dollars using an S-curve;
  • How to quantify project cash flows; and
  • Additional components to a development pro forma:
    • Rent roll
    • Construction financing
    • Construction draw
    • Permanent financing
    • Scenario analysis to quantify risk.
Formats Available: Streaming
Original Program Date: January 23, 2017
On-Demand Release Date: Available Now

Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel Part II: Construction Draws and Rent Roll (January 2017)
    Collapse Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    This is the third course for the ULI Certificate in Commercial Real Estate Pro-forma Fundamentals. 

    This third modeling course introduces students to the theory and practical construction of “waterfalls” for existing and new Microsoft Excel spreadsheet models.

    The waterfall is the method of distributing profits among partners within a transaction. In more complex transactions, profits are not distributed pari passu. (Pari passu is the proportional distribution of profits according to the percentage of capital invested—for example, with an investor who provides 80 percent of the capital receiving 80 percent of the profit.)

    During the first session, students will gain a theoretical understanding of what a waterfall is, as well as be exposed to the Microsoft Excel functions required to construct a waterfall. In the second session, students will construct a waterfall from a blank spreadsheet that can be incorporated into all existing spreadsheet models.
     

    Students Will Learn
    • Basic types of equity partnership distributions.
    • The key inputs to the waterfall distribution from a joint venture agreement.
    • How to model variable-return distributions to the project sponsor and equity investor.
    • Advanced valuation formulas in Excel.
    • How to "bolt on" the waterfall to all existing pro forma models
    Formats Available: Streaming
    Original Program Date: February 13, 2017
    On-Demand Release Date: Available Now

    Approved Credit:
  • ULI: 4.00 hours Attendance

  • MORE INFOMORE INFO Pro Forma Modeling with Excel: Investment Waterfall Distributions (February 2017)
    Collapse Pro forma Modeling with Excel: The Investment Pro forma (April 2017)

    This introductory course is a four-part online workshop that guides students through the construction and manipulation of a basic multifamily investment pro forma. The program is geared toward individuals who have never completed a pro forma from scratch. Starting from a blank spreadsheet, students will receive step-by-step direction in the creation of this investment pro forma. At the conclusion of the last session, participants will have completed their own investment pro forma and will have gained a new appreciation for how valuation and investment decisions are made. Each session of the workshop is designed to build on the previous one, and each participant will have a completed pro-forma model at the conclusion. Participants are expected to use learned skills to independently build individual sections of the model. However, the completed stages will be distributed at the end of each session. 

    All participants will receive access to the recording of each session. 

    Students Will Learn
    • How to identify the relevant project data required to begin crafting a pro forma;
    • Basic to intermediate Excel skills needed to model an industry-accepted pro forma;
    • Basic components of an investment pro forma:
      • Inputs
      • Amortization
      • Pro-forma income cash flows
      • Valuation.
    • How to construct an amortization table to accommodate three loan types: Constant Payment Mortgage (CPM), interest only (IO), and custom amortization and;
    • How to property format a Pro Forma for an Investment Template.
    Formats Available: Streaming

    Approved Credit:
  • ULI: 8.00 hours Attendance

  • MORE INFOMORE INFO Pro forma Modeling with Excel: The Investment Pro forma (April 2017)
    Collapse Hotel Pro Forma Development for the Beginner
    Held over four sessions, this new online workshop will guide students step-by-step through the construction of a development pro forma for a mid-size hotel property. Beginning with a blank spreadsheet, the program will take students through the entire project from development through sale. Students will be instructed in the basic differences between a hotel pro forma model and other asset classes such as office or multifamily and the corresponding inputs and structure. At the end of the last session, participants will have completed their own hotel pro forma that will actively link to a cash flow page, allowing students to understand the basic valuation of a hotel and how investment decisions are made. 

    Each session of the workshop is designed to build on the previous one with each participant having a completed pro forma model at the conclusion. Participants will use learned skills to independently build individual sections and maintain the pace of the workshop. However, to avoid the possibility of anyone falling behind, the completed stages will be distributed the evening of each completed workshop. At the conclusion of the workshop, the instructor’s copy will be distributed, which will provide, at a minimum, a working hotel pro forma model for each participant.
    Formats Available: Streaming
    Original Program Date: March 28, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Hotel Pro Forma Development for the Beginner
    Collapse Pro Forma Modeling a Single-Family-Home Community
    Held over four sessions, this new online live program will focus on developing a single-family residential builder pro forma. The program will model and value a 50-lot single-family-home community. The model will assume the developer/builder is working with finished lots. Unlike a typical commercial model, this model does not include construction of an amortization table; instead, a residential builder uses a rolling facility. This construct will be explained in detail in session three of the course. 

    Each session of the workshop will build on the previous one, with each participant having a completed pro forma model at the conclusion. 

    Formats Available: Streaming
    Original Program Date: July 16, 2013
    On-Demand Release Date: Available Now
    MORE INFOMORE INFO Pro Forma Modeling a Single-Family-Home Community