Leveraged Breakdowns

FAQ

Most frequent questions and answers

Typical student profiles include, yet are certainly not limited to the following:

  • Undergraduates seeking to break into Real Estate Private Equity or Commercial Real Estate careers
  • Investment Bankers who are familiar with Excel and general financial modeling but need to refine their Real Estate underwriting skills
  • Commercial Real Estate professionals interested in learning the ins-and-outs of Real Estate Private Equity
  • New hires into Real Estate Private Equity or Commercial Real Estate seeking to improve their professional acumen either before or after launching their career
  • Anybody interested in working in Real Estate Private Equity or Commercial Real Estate
  • Individuals seeking to understand Real Estate Investment Underwriting who are interested in investing their own capital in Real Estate

Our course has been designed with the unexperienced outsider in mind. Anybody with a passion for Real Estate and the determination to practice the skills we teach should succeed with our materials. Some Excel knowledge will help, though we make a concerted effort to demonstrate each shortcut, tip, and trick as we model to bring you up to professional speed.

If you happen to be experienced with Real Estate and do not need quite the ground-up education, our materials are still relevant for you. The courses have been designed in a modular fashion so you can easily select the advanced topics you wish to explore. Our course is designed to accommodate a linear progression of skill, so it should be easy to determine which point is relevant for you to begin.

Please do not hesitate to reach out directly if you’d like to chat about your particular skill level and whether this course may be a good fit for your ambitions. You can find our contact information in the navigation bar above.

The first module of the course is a general introduction to finance, real estate, and private equity. This module introduces critical concepts such as IRR, LTV, capital structure, NPV, investment funds, and basic LBO modeling.

The second module of the course begins with an analysis of source documents representative of the typical data that a sell-side broker would share for a first-round bidding process on a real estate acquisition opportunity. We analyze the source materials, including an Offering Memorandum, a Rent Roll, and Trailing Twelve Month Financials, to understand the fundamental aspects of the opportunity. We then synthesize this information into an Excel financial model. We build this Excel model from scratch, line by line. Every single piece of the model is built on-screen, nothing comes pre-packaged, you witness the entire creation of the model as we intuitively explain why each cash flow item matters.

Our goal is to teach you Real Estate Private Equity the exact same way we learned it: through intuitive, hands-on experience with excellent mentors and raw data. Our approach seeks to mimic the one-on-one senior mentorship we receive each day working with the best dealmakers in megafund Real Estate Private Equity.

Unfortunately, such hands-on mentorship is very exclusive and inaccessible to most students of Real Estate. Leveraged Breakdowns aims to recreate this direct mentorship approach online to teach you how to underwrite Real Estate using the same fundamental, intuitive methodologies that the best mentors have used to share their Real Estate knowledge across generations of dealmakers.

We provide you with source materials that you will analyze and transform into a cohesive financial model. You are in the drivers seat as we teach you to analyze property data with an investor’s mindset. Once you have developed this mindset, you will stand clearly apart from your competition who have otherwise memorized rote Excel tricks and trite career tips.

Should you maintain a consistent biweekly pace to watch the videos and follow along in Excel for about an hour each day, you should manage to finish this course within one month. However, you may require additional time to review the contents if you are a complete outsider to Real Estate. You could still feasibly complete this course within one month, but you would need to budget four or five days per week depending on your level of comprehension. If you are currently employed and struggle to find study time, this course may take two months to complete.

The Leveraged Breakdowns subscription membership provides you access to both of our courses, Breaking Down Real Estate Private Equity and the REPE Starter Kit.

Our quick course, The REPE Starter Kit, offers a brief dive into important REPE modeling concepts. This course is ideal if you have little time left to prepare for a case study or want a high-level grasp of REPE skills.

Our flagship course, Breaking Down Real Estate Private Equity, is a much more rigorous deep dive into numerous important concepts. We teach you investment underwriting from scratch.

Our membership provides robust sets of source materials that you reference to develop your own investment underwriting from scratch. You will be able to keep the operating statement, the rent roll, and the offering memorandum. These are true-to-life source materials that you can reuse to challenge your underwriting skills time and again. You will also keep the models we create together in each video.

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