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Bruce Kirsch
Registrace 7. 07. 2009
REFAI® Cohort Information Session with Bruce Kirsch - Aug 12, 2024
Transform Your Career in Commercial Real Estate - Join REFAI® Cohort
Limited Seats, Enroll with REFAI® Cohort
SAVE 10% Code - COHORT
Expires Tomorrow, Aug 15th 2024
FIRST COME ENROLLMENT, STARTS SEPTEMBER 9th
Learn CRE investing and Excel modeling, while also joining a growing network of peers rising up in the business.
Download REFAI® Brochure - getrefm.com/m-refai/
15 Minute Free Consultation with Bruce - calendly.com/bkirsch-getrefm/15-min-consultation-with-bruce-kirsch
Limited Seats, Enroll with REFAI® Cohort
SAVE 10% Code - COHORT
Expires Tomorrow, Aug 15th 2024
FIRST COME ENROLLMENT, STARTS SEPTEMBER 9th
Learn CRE investing and Excel modeling, while also joining a growing network of peers rising up in the business.
Download REFAI® Brochure - getrefm.com/m-refai/
15 Minute Free Consultation with Bruce - calendly.com/bkirsch-getrefm/15-min-consultation-with-bruce-kirsch
zhlédnutí: 34
Video
REFAI Cohort Info-Session Invite for 2nd August
zhlédnutí 20Před 14 dny
Register here - us06web.zoom.us/meeting/register/tZUrde2tpzotHdSs_ojQKxC9lSSXuJTHNoRR?_x_zm_rtaid=-6C5X0VTROadPnqlF8WTtg.1722520543377.1d1401479908428d82fdf84f799c7dcf&_x_zm_rhtaid=156#/registration Learn all the information you need about our Real Estate Finance and Investments (REFAI®) Certification Cohort starting on September 9, 2024. This is your chance to learn about the program, ask ques...
REFAI Cohort Launch Webinar - July 10, 2024
zhlédnutí 44Před měsícem
Why join REFAI Cohort? Comprehensive 8-week program Hands-on learning with industry experts Networking opportunities with peers and professionals Flexible payment plans available through Affirm Plus, the Real Estate Finance and Investments textbook is included! Watch this info-session to learn what REFAI is about and how Cohort learning can help boost your career with structured learning and pe...
CRE Excel Spreadsheet Best Practices with Bruce Kirsch
zhlédnutí 159Před 7 měsíci
To access the free full webinar replay, go here: courses.getrefm.com/shop/training-courses/webinar-best-practices/ In this webinar, you will review best practices related to working in Excel spreadsheets and practice techniques in a live workbook. Topics covered include: - consistent formatting of assumptions inputs vs. formula-based outputs - rapid file navigation techniques - model checks tec...
Demo of REFM's Professional Version Mixed-Use Apartment Building Development Pro Forma Excel Tool
zhlédnutí 228Před 10 měsíci
The Professional Pro Forma is a highly-flexible Excel-based analysis tool for modeling the ground-up development, operation and sale of an apartment/multi-family rental building with or without ground-floor retail and income-producing parking. It is suited for presentation to a wide array of debt and equity capital sources, including institutional players getrefm.com/professional-apartment-deve...
Demo of REFM's Standard Version Mixed-Use Apartment Building Development Pro Forma Excel Tool
zhlédnutí 75Před 10 měsíci
The Standard Pro Forma is a robust Excel-based analysis tool for modeling the ground-up development, operation and sale of an apartment/multi-family rental building with or without ground-floor retail and income-producing parking. It is suited for detailed monthly-based analysis and it generates before-tax IRR, net profit, cash on cash, equity multiple and NPV outputs, among others. getrefm.com...
Demo of REFM's Multi-Year Back of the Envelope Model for Apartment Building Development
zhlédnutí 141Před 10 měsíci
REFM's Multi-Year B.O.T.E. Excel tool is suited for rapid apartment building development feasibility and residual land valuation based not only on a stabilized yield on cost, but also on goal-seeking to a targeted before-tax IRR, net profit, multiple on equity or NPV metric. Includes an optional refinancing after stabilization. getrefm.com/professional-apartment-development-pro-forma-templates/...
How to use a simple IF statement to help make your pro forma fully dynamic (stop trigger)
zhlédnutí 192Před rokem
Excerpt taken from: courses.getrefm.com/shop/training-courses/va-apt/ In this hands-on-the-keyboard Excel course, you will learn how to model the acquisition, value add renovation, refinancing and sale of an existing apartment building. You will also receive access to two unlocked Excel-based templates for use on the job: a one-tab multi-period annual Back of the Envelope tool, and a presentati...
(2023) NEW! Build It Together | Dynamic Amortization Table in Excel, including advanced features
zhlédnutí 1KPřed rokem
To get the Excel file that goes with this, acquire free access to the tutorial here: courses.getrefm.com/shop/free-tools/amort/ In this FREE hands-on-the-keyboard “build it together” Excel tutorial, you will learn how to model an amortization schedule table for a senior mortgage loan. The flexible tool you will build supports fixed and floating rate interest (from Chatham Financial forward rate...
Value Add Apartment Acquisition Modeling Tutorial
zhlédnutí 173Před rokem
courses.getrefm.com/shop/training-courses/va-apt/ In this hands-on-the-keyboard Excel course, you will learn how to model the acquisition, value add renovation, refinancing and sale of an existing apartment building. You will also receive access to two unlocked Excel-based templates for use on the job: a one-tab multi-period annual Back of the Envelope tool, and a presentation version of the 15...
Construction Hard Costs Bell Curve Modeling Explanation
zhlédnutí 3,3KPřed 2 lety
Watch this video if you want to understand why ground up real estate development analyses tend to model construction hard cost outlays in a bell shaped profile.
Commercial Suite Vacancy Modeling Basics Using An IF(OR compounded formula
zhlédnutí 313Před 3 lety
How do commercial landlords think about potential lease rollover vacancy for a suite? How do analysts model it out? Learn the basics of both in this free 6-minute video. Want to dig deeper and earn a meaningful resume credential? Check out REFAI lnkd.in/erEr-bU
Get Excel to work for you by leveraging Conditional Statements
zhlédnutí 206Před 3 lety
Want Excel to do work for you? Then you need to learn how to leverage conditional statements. This free 4-minute intro video will get you started. Want to take it further? Get our Level 1 Excel for Real Estate Bootcamp courses.getrefm.com/shop/training-courses/excel-for-real-estate-certification-level-1-bootcamp-excel-for-real-estate/ or the Levels 1-3 Bundle courses.getrefm.com/shop/training-c...
REFM Generic Cash Flow Projection Formula Modeling Tutorial
zhlédnutí 471Před 3 lety
Stumped on a cash flow projection formula? In less than 10 minutes, learn REFM's generic syntax for modeling pretty much any CRE property cash flow line item. Want REFM to train your firm? www.getrefm.com/training-and-certification/corporate-training/corporate-in-house-training/ Want to study on your own pace? courses.getrefm.com/
Sample Content REFM's Truly Understanding Cap Rates
zhlédnutí 427Před 3 lety
In this lecture course and quiz from Real Estate Financial Modeling, you will learn all about capitalization (cap) rates: what they are, how to calculate them, and how to think about selecting future sale cap rates. courses.getrefm.com/shop/training-courses/truly-understanding-cap-rates/
Sample Content REFM's Demystifying The Excel Pro Forma
zhlédnutí 256Před 4 lety
Sample Content REFM's Demystifying The Excel Pro Forma
Sample Content - REFM's Introduction to the Real Estate Business
zhlédnutí 420Před 4 lety
Sample Content - REFM's Introduction to the Real Estate Business
Sample Content REFM's Real Estate Finance and Investments in 80 Minutes
zhlédnutí 508Před 4 lety
Sample Content REFM's Real Estate Finance and Investments in 80 Minutes
Sample Content - REFM's Identifying Risks and Opportunities in Commercial Real Estate
zhlédnutí 194Před 4 lety
Sample Content - REFM's Identifying Risks and Opportunities in Commercial Real Estate
Advanced Single Transaction Debt and Equity Modeling Course Sample
zhlédnutí 509Před 4 lety
Advanced Single Transaction Debt and Equity Modeling Course Sample
REFM Office Building Development Modeling Tutorial Sample
zhlédnutí 549Před 4 lety
REFM Office Building Development Modeling Tutorial Sample
The Most Popular Type of Real Estate Debt
zhlédnutí 361Před 4 lety
The Most Popular Type of Real Estate Debt
The Challenge With The Entrepreneurial Deal Structure
zhlédnutí 317Před 4 lety
The Challenge With The Entrepreneurial Deal Structure
The Art of Negotiations in Commercial Real Estate
zhlédnutí 823Před 4 lety
The Art of Negotiations in Commercial Real Estate
Campus Apartments CEO David Adelman on the Biggest Lesson He Has Learned
zhlédnutí 660Před 4 lety
Campus Apartments CEO David Adelman on the Biggest Lesson He Has Learned
Commercial Real Estate Negotiation: The Truth Behind Your Opposition
zhlédnutí 214Před 4 lety
Commercial Real Estate Negotiation: The Truth Behind Your Opposition
What Is Common To All Real Estate Asset Types?
zhlédnutí 166Před 4 lety
What Is Common To All Real Estate Asset Types?
Hey Bruce, is Capitalized Value is the same meaning as the Exit Value/Exit EBITDA?
It's the sale value.
Thanks
So how do you bridge the chasm? When you are starting out, you can't just raise $3 Billion, the big players obviously don't have any reason to trust your skills. It seems the way to start is by raising $3 million a few times and build a portfolio of properties at that size, then graduate to raising $30 million-sized funds and build a big portfolio and reputation as a great business person at that level, and then eventually work your way up to the multi-billion dollar level. Presumably this would take many years. Or decades. The only shortcut I can imagine is -- if you have say $3 million or so to start -- is to *hire* (or partner with) people with the multi-billion-dollar experience and reputation, and get busy raising money at their level, and hire all the similarly-experienced operations and analysis folks, etc. I WOULD PAY YOU LOTS OF MONEY if you could guide me to the multi-billion-dollar level as efficiently as possible! Reviewing your course materials, I'm not certain this is what you offer. Is it? Please let me know.
Lit 🔥
Does anyone know what the "j' in cfj stands for???? I know what is does I just want to know what the 'j" word is. Like CFo stands for "Cash Flow Original" what does J stand for as I know cfj is Cash Flow something.... please help. thanks in advance.
😭😭😭😭😭need this course!!!!!!!!!!!
Is audiobook available at all? If yes then where we can buy it ?
can you share this modeling excel spreadsheet?
great spread sheet but when I put in 15 months to test it out, Year 2 will not populate. It seems to only populate when you have 24 months up to 35 same true with the other years. Am I looking at this incorrectly? thanks
Excellent video. How can I get a copy of the spreadsheet?
Hi Maria, glad you found it helpful. Here is the link: getrefm.com/shop/free-refm-software/leasing/free-comparative-lease-analysis-from-both-landlord-and-tenant-perspectives-excel-model-template/
Thank you so much for your video
26:25 why do you have to do RCL n
Is this file still available for download?
its posible to habe the excel file thanks.
Great discussion and insight to ground leases!
appreciate the interview w/ Dr Linneman. Ive read through some parts of his book; it was overall pretty easy to read and the concepts were pretty well-explained, but the price was a little on the costly side
What if there are no comps and its in the middle of nowhere
How can I get a hard copy
Just learning of REFM today. Great program. Lot of basics and little slow but I am sure that the program will do a deep dive into the industry.
How much was it
@@Ice-qq1or the bundle for levels 1-3 is $229 for students and military or $399 for all else.
@@Ice-qq1or it’s on their website
the first big growth I saw was the mass exodus from Cal in about 91 or 92 and it hasn't stopped!!
Cali didn't have a population decline in 90s
If it was a return and I am selling $100,000 NOI in Ohio for $1,000,000 and a seller has $100,000 NOI in CA and demands $2,000,000 at a 5% cap rate how do you explain to me that the CA investor is getting twice what I did for HALF the what you call "return"?
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Are the other chapters also in audiobook? Just bought the textbook but due to dyslexia the combination of reading and listening at the same time works best.
Hi, no, sorry. My apologies for the late reply.
However, there are narrations on textbook.getrefm.com though for the chapter overviews and summaries.
Sir I had emailed u...no replies from u yet??
Hi Sir ...how can I avail ur courses..?
Courses.GetREFM.com
@@refm Hi Sir I want discuss u something .... could u send me ur email...so that I can contact u....
@@mohammedromanshaikh8025 bruce@getrefm.com
Is this online training
One of the best, if not the best!
Yes, at Courses.GetREFM.com
Bruce, great tip that data table references will not work referenced to other tabs, that's how I would have initially thought to set it up, and it would not have worked. Thanks!
My pleasure. Yes, it's amazing that Excel doesn't warn us.
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Hi Bruce, I am trying to do a sensitivity analysis on the sale price by sensitizing the exist year NOI on row header and the exist year cap rate on the column header, and the value is the same. My workbook calculation is set to automatic except for data tables and outside the exist price which is being pulled from a different tab, the exist year NOI and exist year cap are hard coded in the sensitivity analysis tab. Could you provide some insight on why I am not getting the correct results?
Hi, if your calcs are set to "automatic except for data tables" then you need hit F9 on PC or Cmd+= on Mac to run the data tables. OK?
NOI is an output, not an input, thus it cannot be a header variable. Rent PSF could be, however.
Bruce, you're the man.
NO, you have it completely backwards. Cap rates come from an income approach to value called direct capitalization. V=I/r It means in a 10 cap market the market will only pay $10 for a possible $1 NOI but will pay double, $20 in a 5 cap market for the exact same dollar of NOI. A cap rate is not a return and there is no need for an investor to ever calculate a cap rate.
Hello Walin1001, thank you very much for your comment! I can understand how you feel that we have it backwards. It's a matter of perspective, however, as one can see the cap rate as both a measure of net income yield on price, and also the determinant of that price. In the case of a transaction that does not use debt, the cap rate (assuming it is net of reserves) is in fact the cash flow return to the equity, so its calculation is indeed relevant to an investor.
@@REFinancialModeling Bruce stated, "one can see the cap rate as both a measure of net income yield on price, and also the determinant of that price. In the case of a transaction that does not use debt, the cap rate " NO, all a cap rate does is tell you what the market is paying per $ of possible NOI. In a 5 cap market it sells for $20 and in a 10 cap market it sells for $10. If it was a "return" "yield" then wouldn't you think higher was better? Yet in a 5 cap market a seller won't sell his $1 of NOI unless the buyer gives him double what a 10 cap market seller will take for twice the "return". Hmmm See, cap rates are a valuation metric not a return. If a transaction does not use debt or if it is financed 100% the cap rate is EXACTLY the same. Hmmm Are you saying financing does NOT affect your return? I don't know any investor that would agree with that. Mull that over and get back to me if you still don't understand.
👑
Nicely done very succinct
how I can buy it?
Any discount for students?
Not with foreign names.
@@greigsanderson savage lol
@@greigsanderson Foreign to whom?
Bruce, Excellent Video. I currently work as a property manager in Mutlifamily, but am in the process of onboarding with a firm that manages office and industrial. I have a modeling test for the position in one month, do you offer a program for these sectors specifically?
You might mention this later in the course but one great Excel feature for real estate is using hyperlinks in cells to link to online resources like listings or maps. This example gif shows how to add these links: gridmaster.io/spreadsheet-tips/how-to-add-hyperlink-excel
How does one become a real estate investor and developer
By first working in this industry & continuously learning from books, videos, interest groups & other. Finally, you gotta take bold steps, calculated risk. Made $10MM in 20 yrs. Wasn't an easy journey but now I'm set for life.
Sam Ann hey what part of the industry exactly did you start out in?
@@samann95014 can you refer to me some videos I can use and some books to read
the website appears to have been redisegned. where can i find the book he mentions by the end of the video?
found it: www.getrefm.com/training-and-certification/hp-12c-calculator-skills-for-real-estate-certification/
www.getrefm.com/training-and-certification/hp-12c-calculator-skills-for-real-estate-certification/
Thank you, so much. Your explanation is very helpful!
This was short yet very informative! Thank you.
Thanks for sharing. Have you got any publisher/distributor here in the UK? The delivery cost of $60 is way to high. Are you planning to issue an ebook?
My pleasure. We appreciate the concern about the high cost of shipping to Europe. It is an understandable deterrent. We have looked in to having a distributor on that end but thus far, have not found a situation that works. Also we’ve gone back and forth about the E-book issue but for now, do not have any plans to produce the book in that format.
Awesome, thank you!
Interesting, but wish he would have answered the question....
I ordered this bootcamp, I wonder if I could this download it. I bought it some time ago.
Have you already received it?
Can we get the model download?
Hi, Can you share us excel format which your explain in this video.
Thank you for uploading these videos. Very helpful.
very good lecture, thanks.