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Seminar

Cash Flow Modelling I

Cash Flow Modelling: What tools do you need for planning, analysing, and evaluating real estate projects? This seminar will equip you with investment calculation skills and provide practical solutions applicable to your professional endeavours.
Duration of seminar

2 days

Seminar location(s)

Düsseldorf, Frankfurt, Hamburg

Seminar format

In-Class Teaching

Language(s)

German

Seminar Fees

from €1,700

Titelbild Cashflow Modeling 1
Overview

Mastering Cash Flow Modelling:
Enhance Your Real Estate Strategy

In the Cash Flow Modelling seminar, you will acquire in-depth knowledge of key financial mathematical concepts and investment evaluation methods. You will learn to effectively implement these techniques using MS Excel and apply them to real-world solutions for your professional needs. Enhance your expertise and optimize your real estate strategy through our hands-on seminar.

Upcoming Dates
Cash Flow Modelling I

18. 04. 2024 | Frankfurt 04. 11. 2024 | Hamburg

Need help with the seminar? Click on the preferred start date to get a detailed overview and don't hesitate to reach out to our study management. We're excited to assist you with any inquiries!

Telephone +49 (0) 6723 9950-30
Key Benefits

Discover the benefits of choosing our institution for your education

University-level Education

The IREBS Executive Education is part of the Faculty of Business, Economics, and Management at the University of Regensburg.

Renowned

You will engage in expert discussions with high-profile and renowned lecturers from academia and industry.

Pioneers

IREBS Executive Education has been in the market for over three decades and has successfully trained over 7,500 professionals.

Prospects

Achieving certification from IREBS is held in high regard by executives and HR managers in the real estate industry.

Seminar Plus

We provide our students with the necessary materials in digital form.

Optimal Learning Environment

With small group sizes, we ensure an optimal learning environment, leading to higher learning success. Therefore, the available seats are limited.

Seminar Structure

Comprehensive Cash Flow Modelling Seminar: Real Estate Analysis and Applications

The Cash Flow Modelling seminar is a two-day event held at the locations Frankfurt, Munich, or Kloster Eberbach (near Frankfurt), running from 9:30 a.m. to 5:30 p.m. Participants will enjoy complimentary hot and cold beverages, fresh fruit, and snacks during breaks to keep them energized throughout the sessions. Furthermore, a laptop will be provided for each participant, facilitating practical exercises and applications during the seminar.

Content Overview

Module Topics: Mastering Cash Flow Modelling for Real Estate Analysis

Day 1 (Block 1) Day 1 (Block 2) Day 2 (Block 2 & 3) Day 2 (Block 4)

Day 1 (Block 1)

Day 1 (Block 1)

Fundamentals of Financial Mathematics and Practical Application in MS Excel

Time: 9:30 a.m. to 11:00 a.m. and 11:30 a.m. to 1:00 p.m.

You will refresh your knowledge of using MS Excel and gain an initial overview of the possibilities and limitations of MS Excel-based approaches for investment analysis. You will employ tools and functionalities of MS Excel for investment calculations and develop flexible analysis approaches. Additionally, you will learn how to avoid user input errors beforehand and simplify result analysis.

MS Excel Refresher Learning Steps:

  1. Working with absolute, relative, and mixed references
  2. Utilizing the Formula Wizard
  3. Establishing universally applicable and flexible analysis approaches:
    • The "EVA" principle in MS Excel (Entry, Processing, Output)
    • Separating variables, data, formulas, and results
    • Fundamentals of good user guidance
    • Controls for simplifying and validating inputs
  4. Theoretical and practical implementation of fundamental financial mathematics concepts:
    • Present Value Factor / Future Value Factor
    • Annuity Present Value Factor / Annuity Future Value Factor
    • Amortization Factor / Annuity Payment Factor
    • Accounting for compounding frequency in compound interest and annuity calculations
    • Accounting for prepayment in compound interest and annuity calculations
  5. Considering prepayments and compounding frequency
  6. Using named ranges as an alternative to references
  7. Applying array formulas to calculate multiple operations
  8. Goal Seek and optimization

Day 1 (Block 2)

Day 1 (Block 2)

Introduction to Investment Analysis and Investment Appraisal

Time: 2:00 p.m. to 3:30 p.m. and 4:00 p.m. to 5:30 p.m.

In this block, you will learn about the Capital Budgeting Model and gain an understanding of how the included parameters influence each other. Together, we will develop a Discounted Cashflow (DCF) model and then build upon it to calculate the yield using the Internal Rate of Return (IRR) in MS Excel.

During the session, we will start by creating a simple basic model, which will be progressively expanded to approach the "real" world. You will learn how a DCF model is converted into an interest rate or yield (Internal Rate of Return, IRR), and the significance of a yield calculated in this way. Moreover, you will understand the conditions under which these learned methods are appropriately applied and when they are not.

Learning Steps: Introduction to fundamental concepts of investment analysis

  • Brief introduction to investment theory
  • Capital Budgeting Method
    • Basic methodology
    • Purpose of the discount rate
    • Application for valuation or pricing
  • Derivation of the Internal Rate of Return (IRR) method from the Capital Budgeting Method
    • Presentation of the basic methodology
    • Addressing the issues with classical methods

Classical Investment Appraisal Methods

  • Presentation of the conceptual structure of a DCF model
  • Capital Budgeting Method or DCF Method
    • Basic structure of simple models without considering tax effects
    • Building the basic model
    • Parameter control optimization and user guidance
  • Transition from DCF to IRR
    • Presentation of relevant basic considerations
    • Deriving IRR from the presented DCF model
    • Advantages, disadvantages, and limitations of the IRR model
  • Influence of various model parameters on calculations and results
  • Application areas of the presented model approaches

Day 2 (Block 2 & 3)

Day 2 (Block 2 & 3)

Cash Flow Modelling for Real Estate

Time: 9:00 am to 10:30 am

Continuation of Block 2 from the previous day.

Time: 11:00 am to 12:30 pm

Using practical examples, you will gain an overview of the methods and tools used in cash flow modeling. Based on this, concepts and methods for the analysis and evaluation of rental condition comparisons will be developed and presented.

Learning Steps:

  • Approaches and instruments for modeling and representing lease agreements
  • Working with indices
    • Data acquisition
    • Methods of trend analysis and extrapolation
  • Approaches and models for the systematic consideration and evaluation of rental incentives
  • Calculation of effective and reference rents
  • Building of present value-oriented rental condition comparisons for comparing rental offers
  • Cost forecasts

Classical Investment Appraisal Methods:

  • Conceptual structure of a DCF model
  • Net Present Value (NPV) method or DCF approach
    • Basic structure of simple models without considering tax effects
    • Building the base model
    • Optimization of parameter control and user guidance
  • Transition from DCF to Internal Rate of Return (IRR)
    • Presentation of relevant basic considerations
    • Derivation of IRR from the presented DCF model
    • Advantages, disadvantages, and limitations of the IRR model
  • Influence of different model parameters on calculations and results
  • Application areas of the presented model approaches

Day 2 (Block 4)

Day 2 (Block 4)

Modern Investment Appraisal Methods

Time: 1:30 pm to 3:00 pm and 3:30 pm to 5:00 pm

First, you will jointly develop a Complete Financial Plan (CFP) model using MS-Excel with other participants. Subsequently, you will deepen your understanding of investment calculations based on Complete Financial Plans through practical examples.

Based on one of the previously discussed methods (either DCF, IRR, or CFP), you will develop a model for evaluating investments in the existing portfolio, explicitly considering the specific objective of analyzing the relative advantages of investment, renovation, or conversion alternatives.

Additionally, you will receive a brief overview of the significance of risk consideration and its representation within investment appraisal. Building on one of the previously developed investment appraisal models (also either DCF, IRR, or CFP), you will explore various approaches to risk analysis and put them into practical use.

In this seminar, you will learn:

  • How to determine a realistic return for a real estate investment using Complete Financial Plans.
  • The impact of different forms of financing on the profitability of investments.
  • How to assess investments in the existing portfolio and what peculiarities need to be considered for analysis models.
  • The significance of risk assessment in investment appraisal, systematically representing and analyzing them.
  • Which functions of MS Excel can be used for these purposes.

Learning Steps:

  • CFP Method
    • Basic structure of simple models without considering tax effects
    • Building the base model
    • Modeling cash flows
    • Integration, representation, and analysis of financing effects
    • Optimization of parameter control and user guidance
  • Analysis of investments in the existing portfolio
    • Concept and approach
    • Peculiarities compared to "conventional" investment appraisal
  • Conceptualization and representation of fundamental instruments for risk analysis
    • Significance and representation of risks or uncertainties in investment appraisal
    • Overview of various methods and their implementation using MS Excel
  • Realization of "What-if" analyses
  • Working with scenarios
Lecturers

Expertise from academia and industry

Sven-Eric Ropeter-Ahlers
Dr. Sven-Eric Ropeter-Ahlers
Owner of Ropeter-Ahlers Real Estate Consulting & Analysis

Dr. Sven-Eric Ropeter-Ahlers, who holds a degree in business administration, has more than 25 years of experience as a management consultant in the field of real estate investment analysis. Within this framework, he advises companies from the insurance and banking sectors, industry, real estate investors and asset managers, as well as real estate companies organised as medium-sized enterprises.

Dr. Sven-Eric Ropeter-Ahlers has published numerous professional articles and book contributions on the topics of investment appraisal and risk analysis.

Registration

Everything you need to know

Structure & Study Formats
  • Duration: 2 full days (9:30 a.m. to 5:00 p.m. each day)
  • In-class teching at three locations: Frankfurt, Munich, or Kloster Eberbach (near Frankfurt)
  • Provided: digital seminar materials, refreshments during breaks, and lunch snacks Laptop with Microsoft Windows operating system and MS Office 365 provided
Tuition Fees
Seminar fees: €1.850
Reduced seminar fees: €1.700*


* For alumni, members of IMMOEBS e. V., or IREBS Core e. V.

All prices are subject to the legally applicable VAT. Discounts cannot be combined.

Target Group & Admission Requirements

The seminar is aimed at the following groups of people:

  • Individuals with basic knowledge in using MS-Excel
  • Experts from the finance and banking sector
  • Students in real estate management
  • Professionals in the real estate industry
  • Individuals interested in real estate financing and analysis
Certificate of Completion

Upon completing our seminar successfully, you will be awarded an official certificate of participation, acknowledging your successful attendance and the knowledge and skills you have gained. Our seminars are highly regarded in the real estate industry, earning recognition from industry experts and professionals. Our practical and high-quality training provides you with valuable career opportunities.

Testimonials

Voices of Experience: Recommendations from Faculty, Alumni, and Professionals

Cash flow modelling remains highly relevant in the field of asset management. As such, it is essential for professionals in asset management to refresh and update their knowledge. This seminar offers a comprehensive blend of theoretical review, practical exercises, and result interpretation, creating a powerful learning experience for participants.

Mathias Gross

Board member, COO, POLIS Immobilien

Student advisory services
close call +49 6723 9950-30E-mail to irebs@irebs.de