Joint Venture Models

SmartHelping / Joint Venture / Excel

Joint Venture Waterfall Models

Model investor and sponsor distributions with monthly cash flows, IRR hurdles and adjustable splits. Includes five joint venture and real estate template types in one purchase.

5 template types IRR hurdles Monthly distributions Sensitivity analysis

$45 One-time purchase / Excel download

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Watch the walkthroughs What is included How the waterfall works Related templates

See the models in action

Walk through the cash flow distributions.

Start with the original Version 1 walkthrough, then open the other demonstrations to explore the included variations.

Open the template screenshots

Waterfall with sensitivity analysis: five scenarios

Explore the included waterfall variation with five sensitivity scenarios.

Waterfall distributions: Version 2

Review the Version 2 setup and cash flow distribution logic.

Included 10-year multifamily acquisition model

See the included multifamily acquisition template with refinancing and an IRR cash flow waterfall.

One purchase / Five template types

Choose the framework that fits the deal.

The $45 purchase includes the following templates. The walkthroughs above demonstrate the original, updated and specialized versions.

1. Monthly waterfall with sensitivity analysis and IRR hurdles. Includes the five-scenario sensitivity variation.
2. Original joint venture template. The original distribution framework shown in the Version 1 walkthrough.
3. Modified monthly waterfall. An additional monthly distribution variation.
4. Standard monthly waterfall with IRR hurdles. A monthly framework for distributing cash across the configured tiers.
5. 10-year multifamily acquisition model. Includes refinancing logic and an IRR cash flow waterfall.

Forecast periods and features vary by template. The real estate pro forma waterfall version supports up to 240 months; the included multifamily acquisition model covers 10 years.

From operating cash flow to partner returns

See how the distribution tiers change the outcome.

1. Build the cash flow forecast

Use the included real estate assumptions or connect an existing forecast to the waterfall's cash flow inputs. Model investment, operating cash and exit proceeds over time.

2. Set the distribution terms

Define the base investor and sponsor split, the IRR hurdles and the allocation percentages for the applicable tiers.

3. Allocate cash through the tiers

The waterfall evaluates the cash flow history against the configured hurdles. Cash allocated to an earlier tier is not allocated again; the remaining cash moves through the next applicable tier.

4. Review the combined result

Use the return summary and chart to see the cash distributed and resulting returns. The overall investor/sponsor split reflects all tiers used, so it can differ from the final-tier split.

Using cash flows from another financial model

In the real estate pro forma version, the waterfall receives cash flows from row 49 of the monthly pro forma tab. Review the relevant version before replacing or linking those cash flows.

Match the timing and treatment of investment, operating distributions and exit proceeds to the model you are connecting. Integration requires setting up the links; it is not automatic across every SmartHelping template.

Browse all financial models

Included real estate pro forma

Build the property cash flows behind the waterfall.

The real estate pro forma version provides monthly and annual summaries, with assumptions for the property's operating period, financing and exit.

Timing and rental income

Set the start year, rent commencement month, starting monthly rent, annual rent growth and vacancy. The model supports a timeline of up to 20 years.

Expenses and financing

Enter operating expenses, including property taxes and insurance, and model debt service using the included dynamic loan schedule.

Exit assumptions

Set the exit month and capitalization rate. Cash flows stop at the selected exit month, with any remaining loan balance assumed repaid at exit.

Also included in these bundles

Need a broader collection?

Joint Venture Waterfall Bundle

Explore more preferred return, equity and cash flow distribution frameworks.

View the Joint Venture bundle

Real Estate Financial Model Bundle

Explore property acquisition, development, financing and investment analysis templates.

View the Real Estate bundle

Related templates

Explore other distribution structures.

These are separate products for other joint venture structures. Review the individual pages for their features and included versions.

Preferred Return Model

Explore a framework for preferred distributions and subsequent profit sharing.

View template

Preferred Equity with IRR Hurdles

Explore preferred equity with a subordinate IRR-hurdle waterfall.

View template

Equity Multiple Hurdles

Explore a preferred equity structure built around equity multiple hurdles.

View template

General Waterfall: 3 IRR Hurdles

A separate general cash flow waterfall with three IRR hurdles.

View template

IRR Hurdles with GP Catch-Up

Explore a three-hurdle waterfall with a general partner catch-up provision.

View template

Non-Compounding Preferred Return

Explore simple-interest preferred returns with multiple hurdles.

View template

A few useful details.

Does $45 include all five template types?

Yes. The five template types listed above are included in the one-time $45 purchase. The additional demonstrations are walkthroughs of included variations, not separate purchases.

Can I use a waterfall with a different financial model?

Yes. You can connect appropriately structured cash flows from another forecast to the waterfall inputs. Review the selected template's setup and cash flow timing when making those links.

Does every included model cover 20 years?

No. The real estate pro forma waterfall version supports up to 240 months. The included multifamily acquisition model covers 10 years. Use each walkthrough to review the relevant template.

How do I receive the templates?

The Excel templates are available for immediate download after purchase.

Put the partnership economics into numbers.

Get five joint venture and real estate template types for a one-time $45 purchase.

Get the Waterfall Models