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micro-degree
The Real Estate Analyst
Whether you’re looking to go into commercial or private equity real estate, our real estate financial modeling course will help you succeed.
Deep dive into traditional real estate investments, and master the skills needed to complete a comprehensive REIT valuation model based on real company data.
31 reviews
11
Hours
12
Topics
53
Practical exercises
2
Exams
The Real Estate Analyst includes
- Introduction to Real Estate
- Measuring Real Estate
- Lease Types
- Pro rata calculations
- Base year stop
- The Cash Flow Statement
- Rental Revenues
- Gross versus Net
- Modeling revenues from different types of assets
- Renewal probability
- Additional Income
- Percentage Rent
- Operating expenditures
- Capital Expenditures
- Income Taxes
- Overview of the capital structures
- Debt
- Loan sizing (LTV and LTC)
- Amortizing loans with balloons
- Mezzanine
- Equity
- Preferred vs common
- GPs and LPs
- Promoted interest
- Equity Waterfalls
- Calculation and comparison cap rates
- IRR, Cash on Cash Yield, Breakeven, Multiple of Money
- Going in and Exit Cap Rates
- Financing sources and uses
- Differing Lease types and pro rata calculations
- Rental revenues and adjustments
- Operating expenditures and reimbursements
- Capex, Tis, Reserves, Lease commission
- Unlevered and levered cash flows
- Return metrics
- What is a REIT?
- How a REIT is structured
- Presentation in the financials
- How REITs grow
- Defining and calculating Funds from Operations (FFO)
- Defining and calculating Adjusted Funds from Operations (AFFO)
- Understanding straight-line leases
- Summary of IFRS 40
- FFO and AFFO for non-US REITs
- Impact on valuation
- Calculating NOI
- How leases and property types affect cap rate
- Applying the analysis to investments
- Preparing the supplemental calculations of Revenues & Costs
- Preparing fixed assets calculations of Property Acquisitions, Property Development/Redevelopment, Asset Disposals
- Calculating Dividends using FFO
- Calculating Equity Investments and NCI
- Preparing the Income Statement
- Preparing the Balance Sheet
- Preparing the Cash Flow Statement
- Calculating the Debt and Equity needed to fund future growth
- How valuing REITs differs from traditional corporates
- Valuation using NAV, trading and transaction comparables, and DCF
- Calculating cost of capital for a REIT
- Calculating fully diluted shares
- Calculating the operating assets with capitalized income
- Calculating equity investments and other operating, non-real-estate assets
- Calculating liabilities and other claims on assets
- Calculating WACC
- Calculating PV of FCF
- Determining dilution from future equity issuances
- Calculating terminal valuing using multiples and perpetuity method
- Running sensitivities
The Real Estate Analyst
| Micro-Degree
Real Estate Investing
| Skills Certificate
4
Hours
22
Practical exercises
1
Exam
Master the skills needed to analyze and interpret market data to inform investment decisions. Get an overview of the capital structures, calculation, and comparison cap rates and a comprehensive cash flow model for a real estate transaction from purchase to sale.
Real Estate Forecasting
30 video minutes
6 excel exercises
Video minutes 30
Excel Exercises 6
Real Estate Financing
22 video minutes
4 excel exercises
Video minutes 22
Excel Exercises 4
Cap Rates and Other Metrics
12 video minutes
2 excel exercises
Video minutes 12
Excel Exercises 2
Real Estate Case Study Model
74 video minutes
10 excel exercises
Video minutes 74
Excel Exercises 10
Real Estate (REIT) Modeling and Valuation
| Skills Certificate
6.5
Hours
8
Topics
31
Practical exercises
1
Exam
Get to grips with real estate modeling and valuation in full. Bridge the gap between your existing accounting knowledge and learn what REITs are, how to analyze them, and how to value them with our online real estate investing course. Master the critical skills needed to complete a comprehensive REIT valuation model based on real company data.
Introduction to REITs
10 video minutes
0 excel exercises
Video minutes 10
Excel Exercises 0
FFO and AFFO
15 video minutes
3 excel exercises
Video minutes 15
Excel Exercises 3
US GAAP vs IFRS
3 video minutes
0 excel exercises
Video minutes 3
Excel Exercises 0
Cap Rates
14 video minutes
2 excel exercises
Video minutes 14
Excel Exercises 2
Building a REIT Operating Model
63 video minutes
13 excel exercises
Video minutes 63
Excel Exercises 13
REIT Valuation
32 video minutes
2 excel exercises
Video minutes 32
Excel Exercises 2
Comprehensive REIT Valuation Model - NAV
14 video minutes
4 excel exercises
Video minutes 14
Excel Exercises 4
Comprehensive REIT Valuation Model - DCF
30 video minutes
7 excel exercises
Video minutes 30
Excel Exercises 7
Skills & Learning Objectives in The Real Estate Analyst Micro-Degree
Learn from our expert instructors
Learn more about our full facultyReviewed by Industry Experts
Colin Evans
Managing Director at J.P. Morgan
Colin Evans is a Managing Director at J.P Morgan and leads the financial institutions coverage team globally for the Corporate Banking.
Dr. Bridget Lyons
Professor of Finance
Professor of Finance at the Jack Welch College of Business at Sacred Heart University and Associate Instructor.
Chris Bishko
CFO
CFO with over 25 years experience as an operator, investor and investment banker in technology and financial services.
Wall Street Recognized Certification
Established on Wall Street, Financial Edge has taught at the biggest bulge-bracket firms since 2016, and now we offer that very same training online for you. It’s no secret that banking is fiercely competitive, which is why our Wall Street recognized certification is designed to let your employers know you have the skills to succeed.
Complete a Micro‑degree to join our exclusive alumni
Sit beside the world’s best investment bankers on LinkedIn, and take advantage of exclusive must-have benefits for new and experienced analysts.
What Our Students Say
The Real Estate Analyst Micro-Degree is included in your Felix Plan
Recommended
Boost
Includes full access to all certified courses.
£449
Billed annually.
Boost includes:
- 184+ hours of instructor-led learning
- Search across 350+ playlists, 3000+ videos and Q&As
- Role-focused pathways
- Expert instructor support
Pro
Full Felix access including all learning content and data features.
£699
Billed annually.
Pro includes:
- Everything in the Boost plan
- Streamlined company data
- Current and historic filings for over 7000 companies
- Market and industry data
- Ready-to-use sector and transaction models
Compare plans
| Boost | Pro | |
|---|---|---|
| Completion certificates | 37 | 37 |
| Skills certificates | 48 | 48 |
| Micro-degrees | 12 | 12 |
| Searchable library of 350+ playlists, 3000+ videos and Q&As | ||
| 10 role-based learning pathways, including Investment Banking, Equity Research, Sales and Trading and more | ||
| Expert instructor support | ||
| Practical exercises to work alongside videos and quick quizzes to test your understanding | ||
| Weekly live webinars | ||
| Streamlined company data (WACC. & EV bridge calculator, custom comparables) | ||
| Current and historic filings for over 4,000 US firms | ||
| Current and historic filings for over 7,000 firms globally | ||
| Link to, label and share data points in filings (limited to 10 for Free and Boost users, unlimited for Pro) | ||
| Regional and industry data sets | ||
| Ready-to-use sector and transaction models | ||
Frequently Asked Questions
What tech do I need?
Access your course across desktop, laptop, tablet or phone; either via our web portal or the dedicated mobile app. While we have optimized our video quality and size, we recommend a broadband connection to enable uninterrupted video playback. A PDF reader and spreadsheet application are required to open the supporting resources.
Is it right for me?
Our online courses reflect the training new analysts receive at the leading financial organizations. They're challenging, but if you want to demonstrate you are as good as the best in the industry then this is the course for you. The top investment banks will recognize our micro-degree certifications, making them perfect for graduates looking to land a job or a professional preparing for a new role.
Are Financial Edge's courses credible?
The leading investment banks, as rated by the FT, hire us to train their incoming analysts. If you are looking to join the best analysts in the world, why not challenge yourself with the same content and certification with the same Wall Street instructors ready to answer your questions.
Will this course help me get a job?
Absolutely. Develop practical skills you can use to impress at interviews, whether you’re looking to break into finance or change roles.
How long do I have to complete the courses?
Everyone works at their own pace so there's no restrictions, all you need is an active Felix plan for the course you are completing. All Felix plans renew annually.
Are there any hidden costs?
No. Everything you need is included, from instructor-led videos and Excel exercises to the exams.
What is CPD?
All of our online courses are CPD accredited. CPD stands for Continuing Professional Development and makes demonstrating your commitment to learning easy. Your institution or accrediting body may track CDP points through activities, units or hours. Check with the relevant party to find out how you should be monitoring your progress.
What support will I get along the way?
Our expert instructors are standing by to answer questions and help you develop a detailed understanding of finance complexities. Our technical support team are also ready to help with any system problems.
Start earning your Real Estate Analyst Micro‑degree certificate today.
