Real Estate Analyst

The Real Estate Analyst course has been taught non-stop to global real estate firms over the last 25 years, and is without doubt the core financial modelling training in your career portfolio. Whether you have an upcoming financial modelling test for a new job or an APC exam, the Real Estate Analyst course is the choice for you.

Create flexible real estate investment focused financial models in Excel. Case studies focus on core, core plus and value add property investments. This course shows you how to model income producing property with both annual and quarterly discounted cash flows, build rent functions, model costs and calculate returns. It also shows you how to interpret and analyse the results.

On this course, you will…

  • Learn how to structure an investment cash flow from first principles and how to value and appraise property investments
  • Build annual and quarterly discounted cash flows
  • Look in depth at modelling tenancy schedules: rent reviews, upward-only, break options, lease expiry
  • Build OPEX and CAPEX into your cash flow
  • Analyse risk using sensitivity tables and charts
  • Employ best practice and find solutions to common modelling problems

Who will benefit from this course?

  • Real Estate Investors
  • Surveyors
  • Portfolio Analysts
  • Investment Managers
  • Asset Managers
  • Real Estate professionals at any level with exposure to real estate financial models on a frequent basis
  • Mid-level to senior Real Estate Analysts who would like to start building their own real estate models quickly, rather than relying solely on coaching from existing team members
  • Junior or new Real Estate Analysts who would like to start building their own real estate models quickly, rather than relying solely on coaching from existing team members
  • APC candidates who would like the opportunity to consolidate their competencies by understanding how theory and variables interact within the precision context of a financial model.

Course Outline

Day One

Know how to build a property asset cash flow, analyse geared, and un-geared IRRs.

  • Term & Reversion and Layer Method Valuation (Intro to Excel)
  • Equivalent Yield (Solver, Scenario and Goal Seek functions)
  • Single-Let Discounted Cash Flow
  • Cash Flow inputs (Rents, Yields, Growth Rates, Target Returns)
  • Analysis and use of date series
  • Internal Rate of Return (IRR) and Net Present Value (NPV)
  • Comparing Value, Price and Worth
  • Adding borrowing and analysing geared returns
  • Introducing Rent Reviews and other ‘events’ into cash flows
  • The ‘Rent Function’ concept and Logic functions (IF,OR,AND)
  • Sensitivity analysis

Day Two

Know how to build a multi-let property cash flow and apply the concepts on a hypothetical case study.

  • The ‘Rent Function’ and Multi-let cash flows
  • The ‘date problem’ and assumptions in property asset cash flows
  • Reducing the rent function, intermediate calculations and modelling theory
  • Modelling lease expiries, break clauses, voids, and upward only covenants
  • Incorporating time-varying rental growth rates
  • Analysing multi-let cash flows to see if the leases are sufficiently diversified
  • Further IRR analysis (XIRR, MIRR)

Included With Course

  • Post-Course Support
    • Two months of Questions and Answers.
    • One year of support is available for an additional fee – Request for more information.*
  • CPD Accredited Certificate & LinkedIn Proficiency Badge
  • Online Learning Platform access
    • Course Manual – Digital
    • Course Files
    • Further Learning Resources (Reading, Files, Videos)
  • Hard-copy Course Manual* If purchased separately
    * Included with In-Person Booking.

International Note

Our Real Estate Analyst course can be delivered internationally. Every market is well researched by our product development team before we deliver the courses. This essential course has been revised to apply to different jurisdictions for financial modelling theory prior to a detailed analysis of the covenants. The following courses cover European or African leases.

European Real Estate Analyst
African Real Estate Analyst

Thoroughly enjoyed the course provided by Bayfield. Made the topics very easy to understand and took the time to explain concepts in a simple and concise manner.

Analyst – Asset Management

It was a very good course, and not having done anything like this for a number of years, plus having to do it online, it was an experience!

Director – Savills

As a university student wanting to go into investment side of real estate the course was just what I needed. Small group meaning it was personal and easy to ask questions. Great couple of days.

Recent Real Estate Graduate

The course has given me more confidence in using more advanced excel formulae and functions.

Chartered Surveyor – CBRE

Course Details

Pricing – Public Course

In-Person: £1,750 + VAT
Virtual: £1,500 + VAT*
* Hard copy course manual can be bought for an additional fee.

Upcoming Course Dates – Public Course Dates

Number of days: Two days
Course type: Financial Modelling
Course level:
Pre-requisite: Excel Fundamentals for Real Estate Professionals
CPD Hours: 15

How to Book

Course Bookings:

Jacob Noble
[email protected]

Samuel Musgrave
[email protected]

Course Delivery & Administration:

Emma Wilson
[email protected]

Are you currently studying?

Want to know more?

Webinar & Property Bite Videos

Compounding & Discounting cash flows – Property Bites

What does a Real Estate Asset model look like? – Introduction to Financial Modelling