Free online courseBeginner Real Estate Financial Case Study: Build a Pro Forma and Analyze IRR

Course Description

Learn how to build a beginner-friendly real estate pro forma and evaluate an investment using practical financial modeling techniques. This free online course guides you through a complete case study so you can understand how assumptions flow through a model and influence performance.

You will work from the ground up, starting with key inputs and structured assumptions, then mapping asset-level cash flows to see how income and expenses translate into investment results. Next, you will model unlevered cash flows and connect them to unlevered returns, including how IRR is derived and interpreted for real estate deals.

The course also introduces leverage, showing how debt impacts cash flows and changes return dynamics. You will then consolidate your work into clear outputs that support decision-making and help you communicate results. Finally, you will tie everything together by assessing the final purchase price implications in the case study.

Designed for those entering real estate investing and financial analysis, this course helps you build confidence with the core mechanics behind pro formas, cash-flow modeling, and IRR-based evaluation.