Real estate models

All real estate models share one design philosophy: all inputs on a single categorized Inputs sheet, 50+ output sheets, flexible input methods, segment-based configuration. Outputs cover deal summaries, returns analysis, cash flows, pro formas, scenarios, financing, and charts.

Shared usability layer

Applies across Development, Acquisition, and Fund:

All inputs on one page, categorized and hyperlinked.
Flexible input methods: $/SF, $/unit, $/month, $ total, per acre, % of revenue. Different inputs can use different units in one project.
Automatic input error checks surfaced as labeled warnings.
Hyperlinked Table of Contents across all output sheets.
Show only rows with data; show/hide output sheets; print selected sheets as one PDF packet; right-click sheet reordering on protected sheets; auto-updating sheet names.
Smart Uses and Sources (timing and availability of capital each month).
Construction loan interest without circular references or iterative calc.
10 blank unlocked worksheets for scratch work; survive saves and upgrades.

Development model

Underwrites ground-up construction from land through stabilization and exit.

Capacity: 20 commercial + 40 residential segments + a full hotel operation in one project; 20 development phases (series or parallel); 100 itemized soft cost lines; 50 itemized hard cost lines with draw schedules; 30 operating expense lines per segment; up to 6 LPs + 6 GPs; 20 grant infusion dates; 3 sequential refinances.

Complex financing built in: CPACE alongside a construction loan on different rate/fee structures; TIF as pay-as-you-go or bond; LIHTC with federal+state credit layers and bridge loan logic; Alternative Loan #1 and #2 for nonstandard structures; GP Fees as Equity; Multi-Date Exit.

Pages: /development-model/ (mixed-use catch-all), /residential-development-model/, /commercial-development-model/, /hotel-development-model/.

For: developers, investors, PE sponsors at any stage of a ground-up project.

Acquisition model

Underwrites the purchase of an existing property, starting at purchase rather than land.

Capacity: same 20 commercial + 40 residential + hotel segment structure; lease-by-lease commercial modeling (term, abatements, TI, NNN vs gross, escalations, renewal probability, downtime); per-unit renovation premium on residential and hotel; phased lease-up with renovation rent bumps; 3 sequential refinances; exit on cap rate, dollar input, or stabilized NOI multiple.

Supported add-ons: Mezz Debt, Multi-Date Exit. Not LIHTC/TIF/CPACE.

Pages: /acquisition-model/, /residential-acquisition-model/, /commercial-acquisition-model/, /hotel-acquisition-model/.

For: RE buyers, value-add operators, PE sponsors underwriting existing assets.

Fund / Portfolio model

Aggregates cash flows across multiple properties into fund-level returns.

Capacity: up to 50 properties; up to 100 LPs and 5 GP sponsors; per-LP commitment, contribution schedule, waterfall participation; fund overhead separated from asset NOI; asset management fees as % NAV, % equity, or fixed; acquisition/disposition/incentive fees configured separately; disposition cash recyclable into portfolio capital needs. Works for a single property up to 50.

Page: /fund-model/. For: fund managers, multi-asset sponsors, operators reporting to LPs.

Quick Model

Smaller, streamlined development model for back-of-napkin deal screening. Same input philosophy, fewer segments, shorter sheet count. Page: /quick-model/. For: developers/investors screening deals before a full pro forma.

Demand signal (from real leads)

Development dominates: ~52% of historical model-type picks, 44% of post-launch leads. Acquisition ~29%, Fund ~16%, Quick ~3%.
~75% of post-launch Development leads check at least one complex-financing add-on (LIHTC/TIF/Mezz/CPACE/Multi-Date). This is upsell interest, useful for Justin’s scoping call, not bundled-feature intent.
Acquisition leads skew commercial and hotel; residential acquisition is the least common. Full analysis in What converts.