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The Advanced Real Estate Equity Waterfall Modeling Master Class
Introduction
What We Will Cover (2:49)
A Sneak Peek Into What You'll Build (2:56)
How This Course Is Structured (2:39)
About The Instructor (3:41)
Student Success Stories (2:02)
Download Me First
Advanced Waterfall Structures Explained
Real Estate Partnership Breakdown (3:42)
Equity Waterfall Breakdown (4:03)
The Syndication Model (2:28)
The Fund Model (3:13)
Excel Financial Modeling Refresher (1:38)
Part 1 - The Cash-on-Cash Waterfall Model
The Cash-on-Cash Hurdle Model Introduction (4:48)
Introduction To The Model (4:00)
Modeling Equity Percentages & Operating Metrics (8:36)
Project-Level Cash Flow Modeling (2:38)
Modeling Dynamic Cash Flow From Operations (6:32)
Modeling Dynamic Sale Proceeds (6:19)
GP & LP Equity Contributions (4:05)
Modeling The Preferred Cash-on-Cash Return Tier (2:50)
Building Out Days In Year (MAX(IF()) (6:24)
Modeling Outstanding Equity Balance (2:57)
Calculating The Preferred Cash-on-Cash Return (4:14)
Finalizing The LP Preferred Cash-on-Cash Return Tier (3:29)
GP Contributions, Distributions, & Cash Flow (3:47)
The Preferred Cash-on-Cash Check (5:22)
Total Project-Level Cash-on-Cash Build-Out (5:20)
The Cash-on-Cash Promote Tier - LP (6:24)
The Cash-on-Cash Promote Tier - GP (& Check) (6:33)
Net Sale Proceeds Distributions (4:57)
Calculating GP & LP Cash Flows (2:54)
GP & LP Average Cash-on-Cash (6:46)
GP & LP IRR & Equity Multiple (6:01)
Calculating The GP Promoted Interest (3:30)
Modeling Project-Level Returns (4:12)
Check-In - One Down!
Part 2 - The Dual Preferred Return Hurdle Waterfall Model
The Dual Preferred Return Waterfall Model Introduction (3:31)
Modeling Equity Percentages (3:14)
Modeling Loan Metrics (3:22)
Building Out Cash Flow From Operations (4:32)
Modeling Net Sale Proceeds (6:17)
GP & LP Equity Contributions (2:46)
Preferred Return Modeling - Part 1 (4:21)
Preferred Return Modeling - Part 2 (4:23)
Modeling LP Distributions With Multiple Preferred Returns (4:25)
Modeling GP Cash Flow In The Preferred Return (3:36)
Preferred IRR & Equity Multiple Checks (7:53)
Building Out The Promoted Interest Tier (2:25)
Modeling LP & GP Cash Flows (5:49)
Calculating The GP Promoted Interest (1:32)
Finalizing Return Metrics (2:28)
Check-In - Two Down!
Part 3 - The GP Catch-Up Waterfall Model
The Catch-Up Waterfall Model Explained (3:33)
Modeling Equity Percentages (2:30)
Modeling Cash Flow From Operations (2:42)
Modeling Net Sale Proceeds (3:28)
GP & LP Equity Contributions (1:52)
Modeling The Preferred Return Tier (LP) (5:51)
Modeling The Preferred Return Tier (GP) (4:39)
Building Out The LP Catch-Up Cash Flows (6:32)
Building Out The GP Catch-Up Cash Flows (& Checks) (7:14)
Modeling Cash Flows Over The Catch-Up (2:15)
LP & GP Cash Flows & Return Metrics (5:23)
GP Cash Flow Check & GP Promoted Interest Calculation (3:45)
Project-Level Return Finalization (3:10)
Check-In - One More To Go!
Part 5 - The GP Catch-Up With Clawback Waterfall Model
The GP Catch-Up With Clawback Waterfall Model Explained (2:29)
Amercian vs. European Style Waterfalls (2:51)
The Fund & Clawback Timeline (2:07)
Modeling Equity Percentages & Total Cash Flows (7:06)
Modeling Equity Contributions (2:13)
Building Out The Preferred Return Tier (LP) (6:42)
Promoted Interest Visual Build-Out (7:35)
Building Out The Preferred Return Tier (GP) (4:19)
Modeling The LP & GP Catch-Up Cash Flows (8:35)
Building The Total Cash Flow Check (3:40)
Modeling Cash Flows Over The Catch-Up (2:37)
Modeling The LP Clawback - Part 1 (6:00)
GP Cash Flows & Promoted Interest Calculation (5:11)
Modeling The LP Clawback - Part 2 (7:07)
Finalizing GP Cash Flows & The Promoted Interest (3:38)
Finalizing The Model (2:33)
Check-In - You're Done!
Wrapping Up
Where To Go From Here (2:45)
The Catch-Up Waterfall Model Explained
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