The Real Estate Club

Classes

Field Studies: There are no company sponsored field studies at this time

Real Estate Excel Modeling Workshop:

The HBS Real Estate Club is happy to announce that we will be hosting a two day training workshop on Excel modeling for real estate!

When: Saturday and Sunday, October 18-19th from approximately 9:00AM - 5:00 PM each day

The Course: Kahr Real Estate Services (http://www.kahrrealestate.com/) has developed its own in-depth training program and materials and has taught Real Estate Professionals at HBS, Wharton, Columbia and numerous tier 1 real estate investment firms. Students should come away with a strong foundation in Real Estate Excel modeling that he or she can continue to build upon independently and in future jobs.

Who should take the Course? Anyone considering a career in real estate transactions should take the course. The course offers a great opportunity for students to show future employers that they are serious about a career in the industry and can hit the ground running. HBS students that have taken this workshop from Kahr Real Estate highly recommended that the club offers it to members this year.

Price: $100-$150 depending on the number of students who enroll. This is a steep discount off of the $850 per person fee charged to institutions.

What Do I get for my money?

The course provides what many attendees say they never learned in business school - they learn how to model complex real estate transactions and use Excel to its fullest. The class is informative, challenging and practical in nature. All attendees will develop an understanding of how to use the power of Excel to analyze cash flow, leverage, partnerships and joint ventures, and construction projects.

Financial topics include:

		Building effective cash flow assumptions
		Cash flow statements
		Valuation of an asset using discounted cash flow analysis
		Amortization schedules for mortgages
		Impact of leverage
		Depreciation schedules
		Impact of taxation (income, capital gains, and accumulated depreciation)
		Partitioning the IRR
		Partnerships (preferred returns, waterfalls, and IRR look backs)
		Sensitivity tables and graphs for presentation and analysis
		How to use Excel and Argus together for effective analysis

ARGUS Training:

The HBS Real Estate Club is happy to announce that we will be hosting a day-long training/workshop on Argus real estate modeling software!

When: Sunday, November 15 from 9 am to approximately 5 pm.

The Course: Kahr Real Estate Services (http://www.kahrrealestate.com/) has developed its own in-depth training program and materials and has taught Real Estate Professionals at HBS, Wharton, Columbia and numerous tier 1 real estate investment firms. Students should come away with a strong foundation in the software that he or she can continue to build upon independently and in future jobs.

Who should take the Course? Anyone considering a career in real estate transactions should take the course. Because Argus is complex and initially intimidating, this course offers a great opportunity for students to show future employers that they are serious about a career in the industry and can hit the ground running. Argus is crucial to analysts and associates in real estate firms but it is also important for higher level executives.

Price:$50-$70 depending on the number of students who enroll.

What Do I get for my money?

The course consists of lecture format, case studies, and classroom discussion in a collaborative environment. The class combines both financial theory and practical real world examples so all attendees will benefit from the class regardless of their individual backgrounds. By the end of the class, attendees will have a firm understanding of how to use the software and will be well prepared to analyze real estate in a high production environment.

By the end of the class, you will know how to do the following:

		Build ARGUS financial models using nothing more than a few assumptions
		Edit and audit existing models for errors and unreasonable assumptions
		Determine an appropriate purchase price and leverage based on desired rates of return and risk tolerance
		Build detailed cash flow projections, sources and uses schedules, and other financial reporting tools such as discounted cash flow analysis (Net Present Value and IRR)
		Estimate future sale prices based on cash flow and other approaches
		Account for the impact of debt financing, taxes, and depreciation
		Model complex partnerships and determine the returns to each investor
		Develop detailed construction budgets for development projects
		Build advanced mortgages such as construction and participating mortgages
		Understand how to use ARGUS to model all property types (office, industrial, retail, residential, and hotel)
		Run advanced scenario and sensitivity analyses on individual properties and portfolios
		Export all data and reports to customized reports in Excel


	The Real Estate Club \| Student Clubs of HBS, Inc. 2216 Student Mail Center \| Harvard Business School \| Boston, MA 02163 hbsrealestate.net \| rest@studentclubs.hbs.edu

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