Top CRE Underwriting Course
Any recommendations? Is the Argus DCF course still worth taking?
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Really depends on what industry. If you want to be in development or Multi Family, ARGUS has a lot of limitations. In my personal experience, a strong excel model is far superior than ARGUS. However, it is still a strong underwriting program for any non MF asset types.
any recommendations on courses?
I would focus on a regular financial modeling course, then Argus training. If you have great 3-statement modeling skills, it is quite easy to apply those to RE principles as long as you know the basic components of the asset. Of course, RE rarely applies 3 statement modeling but if you're versed in that then you can easily learn to underwrite. full disclosure: worked as an underwriting analyst for a MF broker for like 6 months and worked with an appraiser.
I've heard good things about REFM as well as the BIWS real estate course.
Co-workers of mine had positive things to say about REFM. They said they learned a lot. I am starting REFM courses in the coming weeks.
I will again propose Staiger's book on Real Estate Financial Modeling. For $40 it is a pretty close to a step by step on how to build models with each chapter increasing in complexity.
SB for that as well. It's a solid book.
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im thinking of getting the REFM multifamily course due to the value add portion of it. I have decent modeling skills of core properties so im looking to learn more about value add/upgrade programs.
Value add investments aren't tough. Basically an OM or a market survey will tell you what needs to be done. examine the rent roll for any units that may have been renovated. Price out the program for each unit type and the number of units that you'll be doing. model the program and the estimated increase in rents coming in over 3-4 years and thats about it.
As a downside, a couple anonymous Amazon reviews are stating that the book has many errors. Can either of you, @C.R.E. Shervin or @CRE, weigh in on that?
Yeah there are a few, but any reasonably intelligent person can correct them in their model. It is mostly stuff like wrong cell number etc. I didn't remember more than 5 from the book. But each error would take at most 30 min to correct. In the end it actually helps you learn.
But again for 40 bucks it has the best ROI, IMO.
BU CRE Mortgage Underwriting Course (Originally Posted: 09/18/2015)
Has anyone taken this class? I just want some feedback before I pop $700.
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