I'm thinking about getting a real estate modeling course for Christmas this year and have a few questions. For some reference I am a senior now and have signed to work in CRE Lending at a large bank next year. Aside from the practical used, I am also just kind of a nerd and enjoy learning new things on excel
1) Would it be as beneficial for me to take the courses now as opposed to a couple years down the road when I am getting ready to find a new job on the equity side?
2) A quick search here seemed to show BIWS and REFM are the two best out there. Any pros and cons or personal experience with those would be great. Also how long do I have access to the course after taking it? Would I be able to revisit and touch up on skills some time down the road?
3) I currently have a Mac as my personal laptop. Are these courses compatible with a Mac and does it make sense to take the course on a Mac when most of my work will probably be done on Windows?
Any insight or advice is greatly appreciated.
I learned Excel on the job, and IMO that was the best training if you're willing to put the time in and learn it. If the firm hiring you straight out of UG knows that you're not a modeling expert, I wouldn't worry too much about learning a lot before you get there. That said, of course it can't hurt.
One thing I will tell you for sure - don't bother learning Excel on a Mac. I've never heard of a shop who uses Excel on a Mac, and I've never even attempted to bother with it. I have both a Mac and a PC, but I installed (a bootleg version of) WIndows 10 Bootcamp on my Mac largely so that I can use the PC version of Excel in a bind if the need arises.
Also - don't even consider Parallels. I bought it years ago, but it's no way to use Excel on a Mac. Take the time to do a Bootcamp installation of Windows - it's really not that difficult, and you can buy a legitimate version of Windows for less than $100. Most schools (I think) will have "student licenses" for Windows Office that can be installed on, I believe, up to five devices at once.
Thanks for the advice.. Does the Windows Bootcamp totally replace Mac OS or is it possible to switch between the two depending on what I want to do?
You switch between the two - it's called "Bootcamp" because when you boot your computer up while holding the option key, you're given a choice to boot into either Windows or Mac.
Sure, it's not particularly convenient having to spend a few minutes restarting whenever you want to switch to Windows - but trust me, it's your best option if you own a Mac and don't want to buy another computer.
Can confirm on Macs being crap for Excel.
I just finished up a modeling course in person and trying to practice on my MacBook the material I have and it's just more difficult.
If you are in nyc, NYU has a great in person modeling course. Much better than the online courses because you can ask questions and the teachers know you are a beginner with limited to know RE modeling skills. I did an REFM course and didn't like it at all.
I took it when I first wanted to switch into RE and I found it gave me a solid base in re modeling.
Im going to be in NYC actually. Hows the price of the NYU course compare to REFM and BIWS? Assuming its more expensive, did you find the added benefit to be worth it
i want to say like 600-700. but I found it substantially more beneficial than refm. I actually hated REFM. the NTU class expects you to have little to no RE modeling knowledge and they teach and give you a solid base. you learn every component of a basic dynamic model. if you have any specific questions about it send me a message.
Good comments above, but to actually answer the questions you asked:
It wouldn't hurt to just start working on them now as you're getting ready to head out into the real world, a bunch of the training in both courses should still help you day to day in regards to understanding the RE biz. Then when you want to make a switch they'll probably help you speak more intelligently about the biz (they aren't just excel classes, they teach actual RE fundamentals).
REFM is solid, pretty excel focused but gives you a good into to RE modeling and builds the core skills you need to start off. I've heard great things about BIWS, just got my hands on it but haven't dug in yet. Either course allows you to download all files and access them whenever you want down the road.
Both of the courses should work fine on either type of computer. You'd be 100x better off practicing your excel skills on a PC though.
Hi Swarles, any chance you would be able to share this with myself? Happy to discuss fees etc.
I learned by trying to recreate my firm's model when i first started. It will give you an insight to how everything ties together. and they are typically more nuanced than a model you learn in a class. Plus you are trying to figure it out for yourself which will teach and stick with you.
You can find the older threads here with a model bank or free models online. Just try and recreate them plus it's free
3) I currently have a Mac as my personal laptop. Are these courses compatible with a Mac and does it make sense to take the course on a Mac when most of my work will probably be done on Windows? No
Did you decide on which course to get - interested to hear more?
I ended up going with REFM because they had a great student discount and end of the year sale. I began it but have not completed it yet, and so far have found the reviews of it being a bit broad to be true. I do not necessarily mind that though because I learn better when I get pointed in a direction and have to dig deeper for the rest of the information
Hey Pipeking
1) I would highly recommend doing the courses asap - as @SwarlesBarkley said, they provide you with insight into not only how to put together a model in Excel, but also the underlying qualitative factors behind how to interpret the data (ultimately teaching you important RE Fundamentals, rather than just numbers on a spreadsheet).
2) I also considered REFM when I first started looking, but ended up choosing BIWS RE Course and haven't looked back - they are in-depth and very practical. Not sure how long you have access to the course but I definitely recon it's worth it. Personally, I believe that there are no shortcuts to becoming an excel whiz (it's mostly about number of hours spend in front of the screen) and that the "in person training" route isn't the most cost-effective way to go (some people may prefer it but I enjoy finding my own way to solving a particular problem - it also forces you to think and understand the functions you are using).
3) Just switch to Excel already - I initially had a Mac and tried in vain for a few weeks to model but eventually sold it and got a cheaper Asus laptop (with exactly the same if not better specs) and installed office student package on it. Trust me, Mac will just make you inefficient and frustrated.
P.S. I have been working through some really interesting free excel modelling tutorials on the website below (they also have a link to a great WST plugin which I use ALL the time for shortcut keys and would highly recommend installing): https://www.adventuresincre.com/
Thanks for the link to the free modeling tutorials, I will be sure to check it out. I ended up buying a cheap refurbished laptop of eBay to practice excel because there is no point trying to learn on a mac. If you are interested in seeing what REFM is all about I would be willing to swap for your BIWS course
Cool good luck - i'll let you know when i'm done with the BIWS and we can chat then.
Hi all.
I wanted to bump this thread rather than make a new one.
I am Chartered Surveyor working in the Middle East mainly in valuation although I do some development consultancy work. I use Argus Enterprise and Developer but have a personal interest to teach myself how to construct Excel based RE financial models.
I have read this forum for some time and the posts/contributions are really helpful. I am leaning towards BIWS although the Financial Modeling Courses - Best Options & Discount' post on this forum threw me a bit saying that Breaking Into Wall Street has virtually no corporate or university clients to my knowledge. Am I right to put this down to WSP being an affiliate?
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