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Bayfield Training - (Dublin) Real Estate Analyst

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Dublin Chamber of Commerce



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Learn how to model Commercial Real Estate Investments in Excel

This 100% hands on course shows you how to model the income from property investments such as offices, industrial buildings and shopping centres. It then shows you how to value property as well as calculate, interpret and risk assess the results.

Ideal for property investors, lenders, analysts and consultants.


1. Comprehensive course material 2. All Excel models used

Course Outline – Day 1(of 2)

Know how to build a property asset cash flow, analyse geared, and un-geared IRRs.
Part A (morning)

  • Term & Reversion and Layer Method Valuation (Intro to Excel)
  • Equivalent Yield (Solver, Scenario and Goal Seek functions)
  • Single-Let Discounted Cash Flow
  • Cash Flow inputs (Rents, Yields, Growth Rates, Target Returns)
  • Analysis and use of date series
  • Internal Rate of Return (IRR) and Net Present Value (NPV)
  • Comparing Value, Price and Worth
  • Switching between annual, quarterly and monthly DCF models

Part B (afternoon)

  • Adding borrowing and analysing geared returns
  • Introducing Rent Reviews and other ‘events’ into cash flows
  • The ‘Rent Function’ concept and Logic functions (IF,OR,AND)
  • Analysing the IRR for errors (data tables, charting)
  • Sensitivity analysis and Scenario testing
  • Protecting, saving and auditing your work

Course Outline – Day 2(of 2)

Know how to build a multi-let property cash flow, and analyse advanced debt structures.
Part C (morning)

  • The ‘Rent Function’ and Multi-let cash flows
  • The ‘date problem’ and assumptions in property asset cash flows
  • Pattern of rents in UK, European and Index linked leases (Arrays, Lookups)
  • Reducing the rent function, intermediate calculations and modelling theory
  • Modelling lease expiries, break clauses, voids, and upward only covenants
  • Incorporating time-varying rental growth rates
  • Analysing multi-let cash flows to see if the leases are sufficiently diversified
  • Further IRR analysis (XIRR, MIRR)
  • Creating Annuals summaries of quarterly/monthly cash flows

Part D (afternoon)

  • Modelling stressed cash flows for debt purposes
  • Interest only and amortising loans (PMT)
  • Debt criteria, rent-weighted minimum interest cover, maximum LTV (SUMIF)
  • Data validation, templates, auditing, and other functions

For more information visit - Bayfield Training

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Dublin Chamber of Commerce



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