Improve your underwriting and deal analysis with these real estate financial model templates. When you are trying to analyze a real estate deal, no matter if it is new construction or acquisition, the financial planning needs to be strong from the start. Having quick and accurate tools is essential. That is what you are getting with all of these spreadsheets.
Every aspect of the deal is accounted for. Input assumptions and schedules are included for acquisition / financing, equity requirements, operations, growth and stabilization, and exit / terminal value. Output summaries show IRR, Equity Multiple, DCF Analysis of all cash flows for the deal as a whole and the LP/GP.
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Real Estate Analysis Templates:
Airbnb arbitrage refers to the practice of renting a property, and then re-renting it out for a higher price on Airbnb or other short-term rental sites to make a profit. This template has up to 100 properties that can be added.
One of the most robust real estate models I've built. You can model any structure that has varying units with monthly rent. Up to 2 REFI events, joint venture options, GP fees, rent roll with a focus on value-add opportunity analysis, and an integrated 3-statement model with depreciation / depreciation recapture logic. Includes final IRR, Equity Multiple, Cash-on-Cash return metrics + RevPAR (revenue per available room) metrics.
Investing in assisted living facilities can be a profitable and socially responsible opportunity as the demand for senior care is increasing due to aging populations. Test room rate, occupancy, and labor feasibility with this model.
Checklist - Real Estate ($25)
Organization can sometimes be the best way to reduce waste and loss from errors. This checklist template will keep you on track and has many applications for tracking progress of a real estate deal.
The staple of joint venture investing. This lets you model up to 10 years worth of contributions / distributions and automatically applies logic to show distributions for up to 3 IRR Hurdles. Includes final IRR / equity multiple and visuals.
Model the option for giving the GP a defined preferred return that sits below the initial LP hurdle. This provides an incentive for the GP to get passed the first LP hurdle and then go beyond it for increased share of the available cash flow.
Investing in hotels can be lucrative but comes with a high level of risk and is heavily dependent on the performance of the tourism and hospitality industry. This template accounts for seasonality, occupancy, and daily rates for a sound feasibility analysis.
I had some requests by customers to do an IRR sensitivity that looked at changing IRRs when the occupancy changed. There are some really cool tables I ended up adding to this as well and it is a really easy-to-use real estate analysis tool for general acquisitions. Up to 20 years and options for debt.
Converts annual IRR hurdles into the equivalent monthly rate and splits cash flow based on the contributions/distributions each month.
This was the first template I made in the RE underwriting space. It has some pretty cool operating assumptions and the IRR hurdles apply retrospectively based on the final IRR of the entire project. It is mainly for forecasting only, not actual use on a deal. I included more recent underwriting models with this purchase at no extra charge (multi-family and monthly waterfall templates).
Mixed-Use Real Estate ($75)
Investing in mixed-use real estate can provide a stable and diversified income stream as it combines different types of properties such as residential, commercial, and retail in a single development. The layout of assumptions are perfect for acquisition or development projects and it includes the standard IRR hurdle waterfall based on expected monthly cash flows.
Investing in mobile home park real estate can offer a relatively stable cash flow and a potentially high return on investment due to low competition and increasing demand for affordable housing options. This template can be used for a single park or up to 40 parks at once. Includes 3 separate waterfalls (preferred equity, preferred return, soft/hard optional preferred equity with 3 IRR hurdles).
Investing in multi-family real estate can provide a consistent and reliable source of income, long-term appreciation potential, and a hedge against inflation. This template includes configurations for up to 4 properties, has the standard IRR hurdle waterfall, and shows annual financial performance. The layout of this template has received a lot of good feedback for quick underwriting analysis.
Preferred Equity ($45)
Preferred equity deals happen all the time in real estate. This is a general template where the user can plug in the initial investment, the preferred return, and the expected distributions will populate accordingly. I included a secondary waterfall in this as well with standard 3-tier IRR hurdles.
Preferred Return ($45)
If you are looking for a simple joint venture template, this is it. The model will show the resulting annual return earned for the LP based on their investment. All cash flows after that return is met, are split per a defined rate. This has the option to compound or not compound unpaid preferred return.
This template is simple like the above preferred return model, except there is no compounding of shortfalls. The preferred return due will not compound but rather be based on equity contributions only. This has up to 3 pref. hurdles that can be configured with corresponding cash splits defined at each hurdle.
Real Estate Brokerage ($75)
Real estate brokerage business involves acting as an intermediary between buyers and sellers of real estate properties, facilitating the buying and selling process and earning a commission on successful transactions. This model does a wonderful job at making it easy to adjust assumptions regarding this activity in order to produce a proper cash flow forecast.
This is a three phase-based template where the user can enter expected hard and soft development costs on a monthly basis, define when units are sold and for how much, and see the final IRR and ROI of the project from a budget and actual view. Variances are displayed for each major line item.
Owning residential rental property involves purchasing a property, renting it out to tenants, managing the property, and generating rental income as a return on investment. This calculator lets you plug all relevant variables in and it will produce up to a 30 year forecast.
Self Storage: Multi-Fund ($45)
The self-storage business involves providing space for individuals and businesses to store their belongings or inventory, typically on a short-term basis, for a fee. This model is unique. It was designed for analyzing an investment of equity in up to 6 separate self-storage deals. The model consolidates this activity on the same timeline. Dynamic IRR hurdles are used for each deal. See from LP or GP view.
Seller Financing ($45)
Seller financing is often used in real estate if the buyer can't get a bank loan and/or the seller wants to collect interest revenue as well as delay paying taxes on the sale. You a dynamic amortization table as well as the resulting tax calculations for what is capital gains basis vs. return of cost basis per period.
STR (Short-term Rentals) ($45)
The short-term rental business involves renting out a furnished property, such as a vacation home or apartment, to guests for a short period, typically less than 30 days, through online platforms or property management companies. The template works for purchasing up to 20 properties (optional financing) and has dynamic seasonality / OpEx assumptions for each. All activity is consolidated for a monthly/annual cash flow view.
Create a cash flow forecast for buying buildings that are up to 10 units in size. Each has an input for starting monthly rent, renovation period, and rent after renovation. There is a simple configuration for acquisition cost, financing, and renovation costs are evenly spread out over a defined period.
These underwriting and investment analysis spreadsheets primarily center around acquisitions. Most have an option for joint venture waterfall distributions that drive off of IRR hurdles.
Also, I've done another spreadsheet template bundle that includes just joint venture cash flow waterfall spreadsheets.
You can buy all financial model templates and tools from smarthelping.com in one large bundle here: https://www.smarthelping.com/p/excel.html
