New Analyst Training
Hey Everybody,
I have a new analyst starting next week. The individual has essentially no Excel skills. Does anyone have any good training resources they can direct me to or share with me?
I already have some material from my old shop. As well as, a few templates from Adventuresincre. However, this guy didn't even know that F4 locks cells.
Thanks!
If he's as green as you say, have him take this: https://courses.corporatefinanceinstitute.com/courses/free-excel-crash-…
Does he also have no real estate knowledge background? Excel is one thing, but knowing what to model is equally important.... I'd make sure you which you are trying to cover first. Excel is easy, building legit models worthy of use, that is a deeper skill (clearly hard to get at one without the other).
I’d check the LinkedIn learning courses
Justin Kivel’s Udemy courses are affordable and hold your hand through basic RE financial modeling.
I can also recommend Kivel's courses, just landed an analyst job with them.
Which of his courses did you take?
Also recommend Justin Knivel's courses
Here is a series of resources and info I would recommend that I have put together. Going to drop almost every resource I have saved for myself / used when I led trainings for my RE Club. Before I jump in below, here is a good article / series of resources the A.CRE team put together that you may find helpful. There's probably some key stuff I am missing, but I will add it in as I come across it. For a start, here is what I have got.
Excel Fundamentals
1. The Definitive Guide to Microsoft Excel for Real Estate - This is a proper starting point from the A.CRE team that will give anyone with no Excel experience a great introduction. It will show them the ins and outs of how to navigate excel, explain workbooks vs. worksheets, and touch on the fundamental formulas/tools that any Analyst needs when starting their first RE gig. I. highly recommend you have him/her start here.
2. Best Practices in Real Estate Financial Modeling - This module from A.CRE does a good job explaining the basics of excel best practices, especially around setting up models with proper formatting.
3. Useful Shortcuts for Routine Modeling - Once they have gotten familiar with the first two, I would recommend having them learn these short cuts that Spencer from A.CRE lists out as a starting point. A shortcut sheet from Training the Street is also useful, which can be found here.
4. Before getting into teaching them how to build a RE Proforma/ DCF model in Excel, I would recommend having them setup an Excel model from scratch and starting with Period and Date headers. A.CRE has another great resource on this here - it does a good job explaining how to setup a workbook/worksheet, what makes a good model that anyone can hop in and the importance of clear headers.
5. Index Match and Index Match Match - Another great A.CRE tutorial on the power of index match that you'd probably like him/her to know.
6. EXTRA: WST's Excel Macro - if you don't have TTS or Macabacus or some other macro your firm uses in house, I would recommend the WST Excel Macro.
Real Estate Finance Fundamentals & Pro Forma Modeling
1. A.CRE's How to Use the DCF Method to Value Income Producing Property - I am assuming your new analyst has basic finance understanding, but to make sure this is a fully comprehensive list, adding in a very basic overview of a DCF. Very quick and short explanation that could be a helpful refresher.
2.
- This puts me to sleep but a good summary overview of the key terms / industry jargon that will help them as they start to get up the curve.3. A.CRE - Watch Me Build a Multifamily Real Estate Model - I am clearly partial to Spencer's way of teaching and like how he sets up his models / explains everything clearly. Recommend this as a starting place to build out there first full model.
4. Other options is Khar's RE Modeling Series. It's kind of all over the place but Joshua Khar has a decent multi-part series that walks through how to build a very basic real estate model. The full series is all linked below.
5. Watch Me Build a Dynamic Amortization Table - A good overview (again from A.CRE) on the different levers of RE Debt. Walks through Amortization tables, IO vs. Amort, impact of term, fees, interest rates, etc. on overall cost of debt.
6. Joshua Khar's Case Challenge - Abacus Capital example - Basic 10 year annual model for a 100k SF deal.
7. Watch Me Build - Real Estate Private Equity Technical Interview - This is a great in depth walk through of a case study that was shared on WSO.
I will dig around some more and see what else I can find. Hopefully this is helpful. Best of luck to your new analyst!
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