Hi, I am wondering if anyone who has taken the Adventures in CRE accelerator program can help me out. I am contemplating whether to take the accelerator course or if the free models provided online are suitable enough to study to learn financial modeling? How much better and helpful is the program than not taking it?
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My own 2 cents here, but I really don't think there is a need to pay for modelling courses. Despite what WSO (mainly the IB forum) might lead you to believe, real estate modelling is not actually that complicated, it just takes a lot of time and practice to become competent and understand the various drivers. I really don't see the need in paying for courses when ACRE has free model templates AND youtube walk-throughs available. Also shout out to Joshua Kahr who makes awesome modelling videos on youtube to follow.
Really, the best method (from my experience) is to try your hand at modelling buildings and developments (be it case studies or ones on the market that you can access the details) whilst gradually incorporating the ACRE and Joshua Kahr videos/resources. When I started doing this, I would initially only be able to do a very basic one tab model, but gradually began building out more complex models.
Ultimately, it's the effort you put into it that helps, not the amount you spend on courses. I'm interested in hearing what others have to say on this.
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Related thought...
Building models is one thing, and if given a modeling test in an interview then it is a real barrier to entry (of course it should be if that is the expectation of the role).
Understanding why a model does what it does, what are reasonable assumptions, how are they made, and how to make real investment decision and what risks it entails.... that is something.
Knowing one does not imply being good at the other....
@Redever nailed it as always.
It's about understanding the concepts and assumptions of the model, not memorizing formulas and cells. Yes, it does help to be able to build a model from scratch, but on the job, you're never doing that unless your team/firm wants to upgrade their investment templates. And even then you're probably building off of old models.
So, it doesn't make sense to me to pay for models when, 1) there are plenty of free ones available online and on WSO, and 2) the free models will do you just fine. When I started out, I used adventures in CRE and models I found on here, went to work on them over the weekends, and maybe in two months I could do almost everything except waterfalls. I think the free models should suit you fine.
Focus on what's going on behind the numbers. Once you do, building it from scratch or basically re-doing your fat-fingered intern's model, will seem almost too easy, just takes time to understand.
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