What would be the best daily regimen to learn “job ready” real estate Financial Modeling in 2 months (for an acquisitions or development role by a total newbie)?
I am coming from a humanities undergrad background with very little quantitative experience but I love real estate generally and my dream is to work in real estate acquisitions or real estate development.
I have looked through the underwriting models from A.CRE and the complexity (from layout to formulas) is un-hyperbolically overwhelming.
I have been applying to analyst positions without much traction and am aware that I will have to pass an underwriting test and be able to handle the day-to-day modeling that any such position will throw at me.
I’m 101% game but in need of a plan (that worked for someone with a similar profile in the past).
My Question: What would a soup-to-nuts, very practical, daily attack plan look like to get up to fighting speed in 60 days for a very non-quant/non-finance person?
2-3 courses by Justin Kivel on Udemy. First course takes probably 7-8 hours covers the basics. Go through it then legit build the answers from scratch and look when needed. Do this legit 20-30x and you will have it down, wrote all the line items down etc too. Get a more advanced course after this, look into waterfalls, Development models, and Acqusitions. There are courses on there that cover it, usually on sale for $20.
This is a good starting point, the courses are affordable and go into the actual concepts and not just technical.
After that, check out the range of YouTube tutorials available from A.CRE, Josh Kahr and Bruce Kirsch. Breaking into CRE also has some good videos for beginners on different CRE concepts (not modelling-specific).
I know it's 2022...but there is a BOOK, called "Foundations of Real Estate Financial Modeling". It goes through chapter by chapter on what a model should look like in increasing complexity. Each chapter building on the complexity of the basics. It would take you 1-2 months to complete the book if you only do it on the weekends, which is what i did.
Ch 1 is single family proforma, Ch 2 is 3 unit proforma, Ch 3 is adding on an amortization table to 3 unit, Ch 4 is a 50 unit building, with debt, next chapter is on waterfall modeling.
It really breaks it down well. Highly recommend.
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