Summary

Learn how to construct valuation models and discounted cash flow models for single-tenant and multi-tenant buildings.
Understand sensitivity analysis to allow you to make better investment decisions.
Master real estate finance fundamentals which will enhance your property investment analysis and underwriting processes.

Who should attend this course

Entry-level graduates and APC candidates.

Real estate banking and lending analysts, investment surveyors and property consultants.


Details

Duration: 2 days
Location: Virtual Live/ Hard Rock Hotel, London
CPD Hours: 12
Level: Beginner

Early Bird
plus VAT
Book Early & Save
Book & Pay min. 30 days before course start date
Virtual Live Course £1,375
In-Person Course £1,720
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Regular Price
plus VAT
Quality Training
Book and/or pay less than 30 days in advance
Live Virtual Course £1,520
In-Person Course £1,895
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(Payment Plan available)

The course fee includes training, course materials and post course support.

Dates

  • 14 – 15 December 2022
  • 30 – 31 January 2023
  • 15 – 16 February 2023
  • 20 – 21 March 2023

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Content


Day 1


Best practice in financial models

  • Simple tips to help you become an efficient financial modeller
  • How to avoid errors and present your models in a persuasive way

Implicit investment valuation methods

  • Term & Reversion
  • Layer / Hardcore
  • Property yields
  • Defining term and reversionary yields
  • Calculating the equivalent yield

Build your cash flow from scratch

  • Inputs: passing rent, estimated rental value, initial and exit yields, market growth, review cycles and most importantly, target returns
  • Outputs: internal rate of return, net present value and worth
  • Annual and quarterly discounted cash flows: modelling purchase price, passing rent, rent reviews, exit rent and exit price

Gearing / Leverage

  • Adding senior debt “bullet” loan

Analyse the results

  • IRR, NPV and maximum bidding price
  • Data tables & sensitivity analysis
  • Risk visualisation (charts)

Case study:

  • Single-tenant office building in the UK

Day 2


Rent Forecast of Multiple Tenant Properties

  • Modelling tenancy schedules
    • Rent reviews, upward-only, break options, lease expiry
  • Modelling hypothetical second leases
    • Void period, rent free and estimated rental values
  • Time-varying rental growth

Net Operating Income Forecast

  • Modelling capital expenditure for refurbishment and operating costs (letting fees, void costs, empty rates)

Investment decision

Case study: multi-tenant office building in the UK


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What our customers say:

“I have made the big move to Capital Markets and am absolutely loving it. Your training helped me a huge amount to secure my dream job, so thank you so much!”

Charlotte Bradbrook, Investment Analyst, Knight Frank

For more testimonials click here.


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