Self-paced online course
Real Estate Financial Modeling Course
Learn commercial real estate financial modeling and investment analysis in Excel, starting from a blank workbook. 310 lessons, three full case studies and the 50-page Definitive Guide, taught in the order the concepts actually build on each other.
This is the same material I teach in private 1-on-1 coaching, without the hourly rate. Enrollment is open now.
Fundamentals of Real Estate Financial Modeling and Investment Analysis
$297one payment
Buy the Course7-day money-back guarantee. Lifetime access.
- Chapters10
- Lessons310
- Case Studies3
- Definitive GuideIncluded
- AccessLifetime
Starts From the Beginning
No finance degree and no prior modeling experience assumed, and nothing skipped later because of it.
Built, Not Just Downloaded
You build every model from a blank workbook, and the finished solution file is always there to check your work or use right away.
Three Full Case Studies
An acquisition, a value-add with a refinance and a ground-up development, with the case documents and finished solution workbooks included.
About the course
You open a blank workbook and build it yourself.
Most people learn real estate modeling by inheriting someone else's spreadsheet and hoping nothing breaks. This course does the opposite.
It runs in order and nothing is assumed. The first chapters cover the Excel and the vocabulary. The middle chapters build the pro forma, the debt schedule, the amortization table and a four-tier partnership waterfall. The last three chapters are full case studies, built end to end.
Every case study comes with its case document and the finished workbook, which is always available, so you can check your build against the answer and reuse the models on real deals.
Who this is for
Four people this course was built for.
Breaking Into the Industry
A student or career switcher targeting acquisitions, debt, development or asset management who needs to pass a modeling test. Start with the real estate finance interview questions.
Already in the Seat
An analyst or associate who can operate the firm's model but could not rebuild it, or defend it, from scratch.
On the Other Side of the Table
A broker, lender, appraiser or property manager who wants to underwrite the way the buy side does.
Investing Your Own Money
Buying small multifamily or commercial deals, and tired of taking the seller's pro forma at face value.
It is probably not for you if you want a finished template to plug numbers into without learning what is underneath it, or if you are after REIT equity research or corporate finance. This is property-level underwriting.
What you will be able to do
By the last lesson, on your own, from a blank sheet.
✓Build a monthly real estate pro forma, from gross rent down to net operating income.
✓Size a loan three different ways, including loan to value, and say which constraint binds.
✓Build an amortization table from the header row down, balloon payment included.
✓Build a four-tier partnership waterfall and prove that every number ties.
✓Model a value-add: the renovation, the rent lift, the reserve and the refinance.
✓Model a ground-up development, from construction draws to permanent financing.
✓Run a sensitivity analysis and explain IRR, NPV and cash-on-cash return to whoever is asking.
✓Keep every workbook and reuse it on live deals.
Curriculum
Ten chapters, in build order.
About the instructor
I'm Christian.
I run Self-Taught CRE, and the name is literal. I have spent my career in real estate investment banking, private equity and advisory, working on over $5.2 billion of transactions across multifamily, office, retail and hotels.
For the last few years I have taught this material one-on-one, an hour at a time, to MSRE and MSIRE students, to analysts a week out from a timed case study, and to investors underwriting their own deals. The same questions came up in almost every session, in almost the same order. That order is this course.
From students taught one-on-one
What they said afterwards.
I had a background in commercial real estate but still lacked the Excel knowledge to feel comfortable completing a timed case study. We worked through a treasure chest of case studies which prepped my interviews.
Jordan B.Real Estate Investment Professional, Acquisitions
Chris helped me land a role at a top firm and helped me lateral to a real estate private equity lending shop. He clearly explains how partners and c-suite professionals think.
Jason C.Real Estate Investment Professional, Debt Lending
Christian is a financial modeling genius and I do not know anyone who underwrites deals like he does. I can call on him for anything real estate related.
Matthew N.Real Estate Development Professional, Principal
Christian has helped me understand coursework and has even underwritten deals I plan on doing on my own. He turns what seems like a sea of numbers into a vivid picture.
Steve B.MSRE Student
Christian’s unmatched expertise and thoughtful mentorship not only made financial modeling comprehensible, but paved the way for a job I love, and for that, I am forever grateful.
Browning A.Real Estate Investment Professional, Acquisitions
Christian was more than a tutor — he was a true thought partner. He quickly understood my project, asked the right questions, and gave me clarity every step of the way. His ability to simplify complex ideas and guide my thinking gave me the confidence and edge I needed to succeed.
Brandi C.Real Estate Investment Professional, MBA, CCIM, CAHTA, CHIA
I understand the coursework much better with Christian than I do with my professors. The way he describes the work is so easy to understand and I am so grateful for him.
Melisa L.Licensed Real Estate Salesperson, MSIRE Graduate
Christian, is a lifesaver. He makes the most difficult concepts seem so simple to the point that I question how I struggled in the first place. I couldn’t imagine graduating without his help over the year.
Danny A.Licensed Real Estate Salesperson and Investor, MSIRE Graduate
Christian is a beast in Excel.
Max L.Real Estate Developer and Hotelier, Principal
Questions
Frequently Asked Questions
Is there a guarantee?
Yes. If the course is not right for you, email info@self-taughtcre.com within 7 days of purchase for a full refund.
Do I need to know Excel before starting?
No. Chapter 1 covers every function used later in the course, from the basics through INDEX and MATCH. If you are already fluent you can skip it, because nothing later depends on having watched it.
Do I need a finance or real estate background?
No. Chapter 2 builds the vocabulary from scratch, including cap rates, net operating income, IRR, NPV and lease structures. Students come from brokerage, property management, construction and from outside the industry entirely. The glossary covers the terms as well.
What is included with the course?
310 video lessons and 13 hours of video across ten chapters, three case study documents, the finished workbook for every case study, and the 50-page Definitive Guide as a written reference.
Do I have to watch all 13 hours to get a finished model?
No. The finished solution workbooks are always available, so you can check your work at any step or jump straight to a completed model. Building along is how you learn the mechanics, but you never have to finish every lesson to get a working model.
Will this prepare me for a modeling test or case study interview?
That is what the acquisition case study in Chapter 7 is built for. It is roughly the shape and scope of a take-home modeling test. Chapters 8 and 9 go well beyond what most interviews ask.
Is the course only about multifamily?
No. The case studies are property-level models that apply across asset classes, and Chapter 2 covers commercial lease mechanics directly, including full service gross, single net, double net and triple net leases, tenant improvements and leasing commissions.
How is this different from 1-on-1 coaching?
It is the same material in a fixed order, at your own pace. Coaching is shaped around whatever you bring to the session and is priced hourly. The course is one payment and covers everything. Many students do both.
How long do I have access?
Lifetime access to the course and to future updates.
Start Building Today
310 lessons, three case studies and the 50-page Definitive Guide. $297, one payment, with the finished solution workbooks always available and yours to keep, plus a 7-day money-back guarantee.
Buy the CourseNot ready yet? Start with the free quick lessons or book a 1-on-1 session.