Daniel Lebret is a senior lecturer in real estate finance at the Cornell Nolan School of Hotel Administration. He has been at Cornell University since he received his Ph.D. in 2008, and his teaching responsibilities have included undergraduate and graduate courses on real estate finance, real estate financial modeling, real estate statistical modeling, urban economics, securitization, and structured finance, along with coaching teams of students for real estate finance case competitions.
Discounted Cash Flows in Real EstateCornell Course
Course Overview
In this course, you will gain an overview of real estate financial modeling, focusing on properties with multi-year leases. Using the models and frameworks established as today's industry standards in real estate, you will explore deriving basic valuations and performance calculations. You'll discover how a discounted cash flow model can be used to deliver sound real estate investment and financial decision-making through hands-on practical exercises.
As part of this process, this course will introduce the various Excel functions required to develop dynamic models to assist decision-makers. To be successful, these tools must be simple to use and interpret, must offer realistic outcomes to complex hypothetical real estate situations, and must be capable of handling a wide range of scenarios. High-stakes decision-making requires a comprehensive understanding of the options and their associated risk. Therefore, the first step is to adopt best practices then apply the essential building blocks in Excel that will be covered in this course, creating a foundation for your future work in this area.
Key Course Takeaways
- Navigate the Excel ecosystem by way of a discounted cash flow model
- Derive valuation and infer future cash flows by utilizing the tools in Excel
- Identify when to use IF statements and LOOKUP, TRUE/FALSE, INDEX/MATCH, and OFFSET functions, strategically applying these conditional functions to your model according to your audience
- Develop a lateral and critical-thinking mindset for solving challenges in real estate with financial models
- Review a discounted cash flow model and articulate the elements included in a full model
Download a Brochure
Not ready to enroll but want to learn more? Download the course brochure to review program details.How It Works
Course Author
Who Should Enroll
- Acquisition and asset managers
- Financial analysts
- Real estate investors
- Real estate development professionals
- Individuals looking to invest in commercial real estate
- MBA students
- City and regional planning professionals
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