Udemy

Complete Guide To Mastering Commercial Real Estate Investing

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  • 75 Students
  • Updated 12/2025
4.8
(24 Ratings)
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Course Information

Registration period
Year-round Recruitment
Course Level
Study Mode
Duration
19 Hour(s) 48 Minute(s)
Language
English
Taught by
CRE Wizard
Rating
4.8
(24 Ratings)

Course Overview

Complete Guide To Mastering Commercial Real Estate Investing

50 File Attachments + Real-World Examples: 20 Hours of Step-by-Step Real Estate Acquisition & Underwriting Strategies

Welcome to Complete Guide To Mastering Commercial Real Estate Investing, a comprehensive and practical course designed to teach you professional techniques to underwrite investment opportunities in commercial real estate. This course features 20 hours of detailed underwriting analysis, and the instructor will demonstrate multiple case studies, including a stabilized, lease-up, and value-add apartment acquisition, along with a ground-up development example. The instructor has completed over $1 billion of commercial real estate transaction volume at large institutions and private equity firms. The instructor also holds a Bachelor's and Master's Degree in Real Estate Finance and graduated top of the class at both institutions.

The instructor designed this course specifically with content that was missing from other online certifications and traditional academic teaching at Universities. This course is heavily centered around real-life examples and the instructor will provide skills typically acquired from working 10 or more years at a private equity firm. This course offers 50 downloadable resources, which consist of PDF files and Excel documents that provide tremendous value when underwriting deals on your own.


Below are answers to Frequently Asked Questions:


1. What if I have no experience in commercial real estate?

Perfect! This course was designed for beginners, intermediate and advanced level students. It is not focused around vocabulary, PowerPoints or lectures. The style is "this is how you do it in the real world" from someone that has personally done it.


2. I don't live in the US; is the material still relevant to me?

Yes! The concepts and skills taught in this course apply to anywhere around the world.


3. Why should I buy this course?

- Unlike traditional academic programs, this course delivers practical, hands-on knowledge you won’t find anywhere else. It includes demonstrations illustrating what you will likely encounter in the real world, showing you exactly what to expect and how to handle challenges in commercial real estate underwriting.

- While focusing on multifamily investing, the course equips you with skills transferable to retail, industrial, office, hospitality, student housing, and senior housing investments.

- No other course provides this level of detail on acquiring commercial real estate and the exact steps you need to take.


4. I'm not the best at math and hate number crunching; is this course still for me?

Absolutely! This is not a “how to use Excel” or “let’s crunch a bunch of numbers” course. It is strategically focused, guiding you through the 'why' behind each decision and assumption. The instructor emphasizes real-world processes, walking you step-by-step through how underwriting is executed in practice.


5. Does this course teach anything related to residential real estate.

This course is dedicated to commercial real estate, with a primary focus on multifamily or apartment investing. The skills and strategies presented are also relevant to other commercial asset classes, such as retail, industrial, office, hospitality, student housing, and senior housing.


Enjoy this course and be on the lookout for future courses from this instructor!


Course Disclaimer: This course is centered around real-life examples and hands-on demonstrations to enhance practical learning. The apartment profit and loss statements, rent rolls, legal documents, and other financial materials presented in the course are strictly for illustrative and educational purposes. These documents are presented in a format similar to actual property data you would encounter in the real world, but the numbers are either theoretical or have been altered and do not represent any specific property. They are intended purely for educational purposes, ensuring that no confidential or proprietary information is disclosed. The content is designed to highlight key concepts and methodologies in commercial real estate analysis, focusing on the process rather than analyzing real financial data from any specific property.

Select portions of the downloadable resources in this course have been created with the support of artificial intelligence tools. All content has been thoroughly reviewed and tailored to ensure accuracy and educational value. Please note that all video content is original and produced solely by the course instructor. Additionally, the instructor holds a standard Adobe Stock license, allowing the use of selected images throughout the course materials.

Course Content

  • 21 section(s)
  • 162 lecture(s)
  • Section 1 Introduction
  • Section 2 Section 1: Where To Find Deals, Confidentiality Agreements, Auction Websites
  • Section 3 Section 2: Accessing a Broker Data Site, Due Diligence Checklist
  • Section 4 Section 3: Apartment P&L Overview, T-12 Financial Statement Analysis
  • Section 5 Section 4: Rent Roll Analysis
  • Section 6 Section 5: Revenue and Expense Assumptions
  • Section 7 Section 6: Payroll Expenses, RE Taxes, Insurance and Utility Reimbursements
  • Section 8 Section: 7 Broker Pro Forma P&L Analysis and Retail Assumptions
  • Section 9 Section 8: Unit Mix, Rent Premiums, Replacement Cost and CapEx
  • Section 10 Section 9: Other Income and Closing Cost Assumptions
  • Section 11 Section 10: Debt, Capital Stack, Sources and Uses, Term Sheets
  • Section 12 Section 11: Market Rents, Amenity Analysis, Ground Lease, Rent Comps, Sale Comps
  • Section 13 Section 12: Discounted Cash Flow and Equity Waterfall
  • Section 14 Section 13: Key Return Metrics, Defeasance, Interest Rate Cap, Yield Maintenance
  • Section 15 Section 14: Sensitivity Analysis
  • Section 16 Section 15: Case Study #1 (Stabilized Apartment)
  • Section 17 Section 16: Case Study #2 (Lease Up Apartment)
  • Section 18 Section 17: Case Study #3 (Value Add Apartment)
  • Section 19 Section 18: Real Estate Development
  • Section 20 Section 19: Property Tours, LOI, PSA, Useful Underwriting Tips
  • Section 21 Section 20: Key Takeaways and Tips For Success In Buying Properties

What You’ll Learn

  • How to underwrite an apartment from start to finish for acquisition purposes, How to underwrite a stabilized, lease up, and value-add apartment deal, How to put together a compelling investment presentation and strategies for pitching a deal to potential investors, How to pitch a deal for a syndication, how to land a corporate job in commercial real estate and how to purchase real estate as an entrepreneur, How to underwrite project level and partnership level returns through an equity waterfall, How to structure deals, manage risks, and maximize profits with preferred equity strategies, How to accurately select appropriate discount rates and cap rates using a discounted cash flow analysis, How to model unlevered IRR, levered IRR, equity multiple, cash on cash and average annual returns, How to underwrite a senior loan, refinancing scenario, supplemental loan and loan assumption, How to analyze a debt quote matrix and term sheet from a commercial real estate lender, How to analyze permanent, bridge, construction, mezzanine, securitized (CMBS), hard money, subordinate, supplemental and agency loans, How to buy distressed assets on auction websites and how to purchase debt through a note sale, How to underwrite retail components attached to an apartment complex, How to tour a property with a commercial real estate broker and what questions to ask them on phone calls, How to efficiently analyze a rent roll and trailing-12 financial statement, How to make accurate revenue and expense assumptions for an apartment, How to make accurate capital expenditure assumptions for interior unit upgrades or exterior renovations, How to purchase interest rate caps while understanding the fundamentals of yield maintenance and defeasance, How to pull rent comparables and analyze a rent stack, How to pull comparable sales and perform a replacement cost analysis, How to analyze a new apartment development with a focus on sources and uses, construction budget and yield on cost, How to submit a compelling letter of intent to a commercial real estate broker, How to negotiate a purchase and sale agreement between a buyer, seller and attorneys, How to accurately forecast detailed closing costs to acquire a property, How to find off market deals and get the attention of institutional commercial brokers


Reviews

  • T
    Trinav Doley
    5.0

    This course has been one of the most valuable investments I’ve made in my real estate education. The content is clear, well-structured, and highly practical, covering all the essential concepts required to build a strong foundation in commercial real estate. I would strongly recommend it to anyone serious about developing a solid understanding of commercial real estate.

  • J
    Jamaal Sabree
    5.0

    Wow! Very impressed

  • J
    Jeremy Long
    5.0

    Incredible job explaining each of the core pilers of CRE. Made it very easy to follow and great for all levels of knowledge.

  • M
    Miren Karmele Alvarez
    5.0

    CRE Wizard’s multifamily course is an outstanding resource that provided highly practical insights I can actually use in my commercial lending business. The concepts are explained perfectly, making this an absolute must-take!

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