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The Real Estate Equity Waterfall Modeling Master Class

Everything you need to know about real estate equity waterfalls, all in one place. 

This course will teach you everything need to know about how an equity waterfall works in real estate transactions, from the underlying mechanisms behind a waterfall, to how an equity waterfall is structured, to how to build an equity waterfall financial model in Excel. Whether you're syndicating a real estate deal on your own, investing as a Limited Partner in a real estate syndication, or you're a current real estate professional looking to add a lucrative skill set to your arsenal, this is a one-stop shop for everything real estate equity waterfall-related.

This course was designed for people from all parts of the real estate spectrum, including:

  • Current or aspiring real estate syndicators who want to earn outsize returns on their investments - Being aligned with investor interests is critical when structuring a real estate transaction, and a clear waterfall structure with incentives based on investment performance is the most direct way to create a win-win relationship for your team and your capital partners. Understanding the mechanisms behind an equity waterfall and having a dynamic waterfall model in your toolkit will allow you to structure your deals in the most advantageous way for both yourself and your investors.

  • Passive real estate investors involved as LPs in real estate syndications who want to invest passively with confidence - The Limited Partner position in real estate investing is a great role - no work involved, an inflation-protected, tax-shielded investment, and experienced management - but do you know how much you're paying in fees? Understanding how a waterfall structure functions and having a dynamic Excel model to calculate true net returns can be the difference between a sound investment and being locked into a watered-down deal for years to come.

  • Current real estate professionals who want to earn more money - Equity waterfall modeling is one of the most desired skill-sets in all of real estate finance, with professionals proficient in this topic earning more than 8.1% above their peers according to national real estate recruiting firm RETS Associates. If you are a current or aspiring real estate professional, understanding the mechanics of an equity waterfall functions and how to build an equity waterfall in Microsoft Excel will put you head and shoulders ahead of your peers and add a rare and lucrative skill-set to your real estate investing arsenal.

Here's what some of our students have had to say:

"I've tried other real estate financial modeling classes, and they tended to be too general (even where they had some hands-on Excel exercises). Justin hit just the right balance between the big picture and the nuts and bolts of building the worksheet, and, therefore, truly understanding it."

"Clear and straightforward. Wow. Amazed at this curriculum. He has made something super difficult easy and he explains it super clear. Its like meeting a super cool private equity guy spend the time to show you step by step. He can make your career. "

"This course is highly recommended for individuals wanting to learn about equity waterfall modeling. It's obvious that the instructor understands this topic very well and he presents it in a very simplified manner. The process of creating the model from scratch and having the instructor walk you through it on a step-by-step basis really solidified my understanding of this material. Excellent course. "

"Highly detailed and informative. Great for analyst who are just getting started. It's like taking an MBA level course. "

"This is a phenomenal course as are Justin's other courses. I am a commercial real estate professional working as an analyst at a 'Big Four' broker and have found all these courses to be invaluable, particularly if you are concerned about the technical test for job interviews."

Understanding equity waterfalls will put you miles ahead of the game, whether you're looking to do your first deal or trying to land a job in commercial real estate finance. Looking forward to seeing you in the course.

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Rating 4.7 based on 98 ratings
Length 3 total hours
Starts On Demand (Start anytime)
Cost $15
From Udemy
Instructor Justin Kivel
Download Videos Only via the Udemy mobile app
Language English
Subjects Business
Tags Business Real Estate

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What people are saying

step by step

I am very familiar with the mechanics of models, however the step by step approach of building a model provided great insight while also acquiring a new skill set.

It is a step by step explanation of a waterfall analysis that the non-initiated can easily understand.

step by step breakdown of the entire development process of an equity waterfall model.

Furthermore, since it is an equity waterfall course (thus building a cashflow is considered given) it would be great if the assumptions were given prior to to setting up the cashflow modelling so someone could exercise his financial modeling skills and for less experience students you could have the current structure (step by step structure).

Its like meeting a super cool private equity guy spend the time to show you step by step.

I definitely need more practice (I am preparing for PERE Modeling tests) but this was the intro and step by step breakdown that i needed.

Justin does a really good job of explaining how to build it from the scratch and taking it step by step.

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real estate financial modeling

Justin does an amazing job taking one of the most complex tools in real estate financial modeling and breaking it down into easy to follow, step-by-step lessons.

This was the most helpful course I've ever taken in all my years studying... Well, besides Justin's other course on "Real Estate Financial Modeling Boot Camp'.

Came to this course straight after taking Justin's Real Estate Financial Modeling Bootcamp, and these two course together really lay a good foundation for an analyst in real estate.

As a CRE investor myself, I was looking to rebuild our existing model and build on what I previously learned from Justin (in his The Real Estate Financial Modeling Bootcamp and The Real Estate Pro Forma Modeling Master Class, respectively) and boy did I do just that!

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highly recommend

A great course that gives easy to understand instruction on making a waterfall model, I highly recommend to any aspiring or entry level real estate analysts.

Highly recommend, lots of value in learning this.

I highly recommend taking this course as a "Part 3" to the aforementioned courses.

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easy to follow

Course was easy to follow - thank you!

Great course, great content, super easy to follow along!

Clear, concise explanations and easy to follow instructions.

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model from scratch

The process of creating the model from scratch and having the instructor walk you through it on a step-by-step basis really solidified my understanding of this material.

Great class for learning how to build a real estate waterfall model from scratch This is an amazing course!.

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equity waterfall modeling

Thanks Justin This course is highly recommended for individuals wanting to learn about equity waterfall modeling.

I knew nothing about equity waterfall modeling a week ago, and now I know it all.

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clear and concise

Great, Justin is well spoken, knows the material, and the course covers it clearly Very helpful, clear and concise.

Great course Great instruction, very clear and concise Great thorough lectures!

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highly recommended

Highly recommended!

This course is highly recommended for people who need to know the details of equity waterfall calculations.

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skill set

I have been working in PE Real Estate for the past 3 years and this has long been a gap in skill set, this course really helped with that.

I think it will add an additional skill set in preparation to take my career to the next level.

exactly what

This class was exactly what I needed.

I really like that you go through the mechanics or creating the formulas but also tell me exactly what I am calculating and why.

So far I think its exactly what I wanted.

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more complex

Excellent walk-through and explanation of some of the more complex parts of the model.

The more complex the better... if it were easy, everyone could do it.

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other courses

I do recommend taking one (or two) of Justin's classes before diving into this as he spends more time on the excel shortcuts and functions in other courses.

Great job Yes This was very helpful This is a continuation of several other courses on Financial modeling for real estate I have taken.

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Careers

An overview of related careers and their average salaries in the US. Bars indicate income percentile.

Real Estate Agent/Real Estate Investing $39k

Real Estate Negotiator and Real Estate Appraiser $40k

Real Estate Translator $60k

Sales/Real Estate $64k

Real Estate Accountat $68k

Shareholder (Real Estate) $71k

Real Estate Aquisitions $74k

Investment Real Estate $78k

Real Estate and Insurance $85k

Real Estate Law $94k

Associate Real Estate & Real Estate Litigation $137k

Partner- Real Estate $260k

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Rating 4.7 based on 98 ratings
Length 3 total hours
Starts On Demand (Start anytime)
Cost $15
From Udemy
Instructor Justin Kivel
Download Videos Only via the Udemy mobile app
Language English
Subjects Business
Tags Business Real Estate

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