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Real Estate Financial Modeling provides financial analysis, training and data solutions for the multi-trillion dollar global commercial real estate business.
    "The REFM seminar... took me through the nuts and bolts ... [read more] - Evette Houston
    "The [Real Estate Finance Bootcamp] course is abstract enough to ... [read more] - Antoine Tyler - Georgetown U.
    "The videos and spreadsheet will be invaluable going forward..." [read more] - Alok Chanani, Wharton MBA Student
    "REFM’s training provided me with invaluable insight into the apartment ... [read more] - Martha Hastings, Associate
    "REFM's customizable and transparent proforma is an excellent tool to ... [read more] - Frank Caico, Principal
    "I attended REFM's recent Atlanta training session in hopes that ... [read more] - John Hicks, Asst. Professor
    "This training seminar is clear and concise, adding the videos ... [read more] - Tony Williams - Managing Partner
    "REFM has clearly taken what most finance executives dread creating ... [read more] - Matt Pace - Consultant
    "The RE Finance Bootcamp REFM held was a great opportunity ... [read more] - Erica Gordy
    "Bruce is a knowledgeable, great instructor who can take difficult ... [read more] - Masters Student - Georgetown U.
    "I would recommend this course [Real Estate Finance Bootcamp] to ... [read more] - Jonathan Price
    "REFM walks you through real-world scenarios, and then through an ... [read more] - JAA
    "This [Real Estate Finance Bootcamp] class gave a very practical ... [read more] - Undergraduate Student
    "Bruce Kirsch is an effective teacher of what can be ... [read more] - RE Finance Bootcamp Attendee
    "REFM does an excellent job at outlining the fundamental principles ... [read more] - RE Finance Bootcamp Attendee

Why Real Estate and REFM


The Value of Real Estate

Real estate investment and ownership creates and preserves wealth, enables financial independence, and drives positive change. It offers us the following unique benefits:
  • The use of the bank's and other people’s money. Real estate is the most accessible of the investment types, because we do not need to personally have a lot of cash or assets to get started.
    • Lenders are often more willing to finance a sound real estate investment than even a great business idea because real estate investments always involve collateral of indisputable value: land. With the aid of leverage, we can typically purchase something 5 times the amount of cash we have to invest.
    • Similarly, investors like real estate because it is tangible, easy to understand and offers attractive tax benefits. The ease of conveying the potential of the property allows us to raise equity capital with relatively less selling and storytelling than for a non-real estate investment opportunity.
  • Protection from inflation. Intelligently written real estate leases include rent escalations tied to an inflation Index, which protect the value of our cash flows in an inflationary environment. While the spending power from our savings account erodes, real estate cash flows offer consistent real rates of return.
  • Shielding from income taxes. Depending on the investment and the applicable accounting standards, we can often decrease our taxable income by significant sums. For instance, the US allows for shielding of income through the writing off of interest cost, through the depreciation of building structure and capital improvements, and through the amortization of loan points.