Books - REPE Financial Modeling
Do you have any recommendations?
Mainly for financial modeling in the real estate industry (valuation, dcf, …)
Thanks
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My three recommendations:
Commercial Real Estate Analysis and Investments by David Geltner: Good macro overview of the fundamentals and some helpful background theory on underwriting. Not necessarily the best modeling book but could be a helpful resource depending upon your exposure to real estate thus far.
Foundations of Real Estate Financial Modeling 2nd edition by Roger Staiger: Good starting point with very basic examples that are helpful. What I liked about this book is that is introduces the concept of monthly cashflow modeling. The first part of the book focuses on time value of money that I would skip as there are some errors, but the modeling is helpful.
Breaking Into Wall Street RE Modeling Course: This is a great course and would be the closest you can get to building dynamic models that are more helpful. I think having a base in real estate financial modeling would be helpful (ie the two books above) before starting. The video companions walking through the building are really helpful and I sometime still refer to components of the program when modeling something outside of our typical model.
Thank you!
What errors are in Staiger’s book?
Nothing major, just a couple of questions in the time value of money section that from memory drove me crazy trying to reach the answer provided in the answer key. Maybe my time value of math skills arent up to par, but from memory there were a couple of answers in the answer key that I couldnt reconcile. Book is great for modeling and just felt like time value of money component of the books isnt where the value lies in what it offers
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