Real Estate Financial Modeling provides financial analysis, training and data solutions for the multi-trillion dollar global commercial real estate business.
    “REFM’s development modeling class was very beneficial to my understanding ... [read more] - Wharton MBA Student
    “REFM's financial modeling session not only provided the steps and ... [read more] - GWU MBA Student
    “REFM provided PrimeMark with valuable insight and a competitive advantage ... [read more] - Wayne Slavitt, President and CEO
    “...the skills I learned in REFM’s video tutorials surpassed those ... [read more] - Joseph Stampone, Masters Student
    "I was extremely impressed with the model, videos and overall ... [read more] - Kevin Sheehan, President
    "REFM's model is thorough and detailed to a "T". They ... [read more] - JB, Development Assistant
    "I have found REFM’s Product Modules to be most useful ... [read more] - Ravi Bhatia, PE, PMP
    “REFM’s resources are an innovative and effective way to complement ... [read more] - Charles Schilke, Associate Dean
    "Excellent seminar. Provides the insight and knowledge in order to ... [read more] - Orlando Marin, Senior Development Mgr.
    "A great introduction to the developer's analysis. A semester's worth ... [read more] - Daniel B. - Investment Advisor
    "As a developer, accurate modeling is critically important. REFM does ... [read more] - K. Gessin-Stern, Vice President
    "REFM makes short work of very complicated subjects in real ... [read more] - Jonathan Stern, Associate
    "LOVED the videos - and love that I can refer ... [read more] - Masters Student
    "I found it to be a perfect class to learn ... [read more] - Scott Rosenblum, Masters Student
    "...the Videos and REFM’s teaching are excellent... REFM provides information, ... [read more] - Charles A. Fritschler - Vice President

On-Campus Training For Undergraduate And Graduate Students

Make yourself a better-performing student and a more attractive prospect to employers

Since 2009, REFM has trained undergraduate and graduate students on how to solve problems with Excel so they can be top performers in the workplace. Lecture-based and hand-on training for university groups also prepares students for the REFM Certification Program In Excel For Real Estate, which students use to strengthen their resumes.


"The “Boot Camp” videos and online exams the students worked through, coupled with a day-and-a-half of on campus training, was a home run. I'm very happy with where the students are now that they have the training under their belts."

Professor David Ling, Ph.D. Director, MSRE Program | University of Florida 






Training content authorship

Training content is created by REFM founder Bruce Kirsch, who is an Editor of the Third Edition of the top graduate-level real estate finance textbook, Real Estate Finance and Investments: Risks and Opportunities by The Wharton School’s Emeritus Professor of Real Estate, Dr. Peter Linneman.

Mr. Kirsch was previously an Adjunct Faculty member in Real Estate at Georgetown University, and he holds an MBA in Real Estate from The Wharton School and a BA in Communication from Stanford University.  Prior to founding REFM, Mr. Kirsch worked in analytical roles for two top real estate platforms and a global mutual fund manager.


Learn more below, and then contact us

Email with inquiries. 


Benefits of REFM Training and Certification to Students include: 

  • Improved Excel-based problem-solving and analysis skills, quicker work turnaround and fewer mistakes
  • Stronger performance on projects, assignments, and in interviews
  • Increased confidence in advanced sensitivity analysis abilities
  • Improved financial modeling knowledge, understanding and customization capabilities
  • Sharpened presentation of transaction financials
  • Heightened credibility with and marketability to potential employers and advanced degree-granting programs. 


Participating Undergraduate, Masters and MBA programs include:


Why should you train with Real Estate Financial Modeling instead of with someone else?

- Our trademark interactive, exercise-based teaching and learning format
- Ability to apply course learning and cost towards achieving REFM Certification In Excel
- Unlocked, investment quality re-usable Excel templates


Our Brochure of current training offerings is embedded in the page below (click here to download it). Custom-tailored programs and testing are available upon request. Email with inquiries.


"REFM Training is the difference between thinking you can model real estate transactions and knowing you can."

James Kasar
University of Southern California Marshall School of Business BA 2011

"REFM helped us synthesize our complex real estate finance coursework into more manageable, user-friendly Excel models perfect for use in the real world. It was an outstanding two-day session."

Patrick Hendry
MSRED Candidate 2012, Columbia University

"I've been taught several of the same concepts before in different formats, for example cap rate valuation, and I have to say that your session was superior, especially the practical portions today. Excel is of course very difficult to get excited about, but relating it to profitability quickly changes that."

Matthew Legge
Program in Real Estate, Class of 2013, Cornell University