85% of Candidates Fail the Modelling Test – Don’t Be Another Statistic
We break down complicated concepts into bite-size chunks and help you build Real Estate financial models from scratch.
- Pass the modelling test
- Land the dream job
- Model your own deals
Fast Track Your Way into Top Firms
Our alumni now work at 100+ firms, including some of the world’s leading names in commercial real estate. A few of them, by the kind of firm:
average increase in salary after the programme£24k before, £53k after
of transactions behind the teachingBlackstone, Goldman Sachs, Cerberus, Lone Star
years combined real estate experienceacross the CRE Modelling team
interviewing and career confidence after the programme4/10 before, 10/10 after
Where are you now?
Pick the one closest to you and we’ll show you where to start.
Four situations, one place to start.
Whichever you pick, the first step is free: a real modelling test with a 30-minute limit, so you see where you stand before you spend anything.
It is almost never your CV.
You know the asset. You have not yet had to size the debt or split the equity between lender and investor, and that is what the modelling test asks for.
Start with the free test
- A real modelling test, with a 30-minute limit, in Excel
- Then the finished model and a video of it being built, so you see exactly where you stand
Getting the interview is the hard part.
Then the modelling test decides it once you are in. Start with the interview guide (what they ask, and how to answer), then sit the 30-minute modelling test so you know where you stand.
Free, in your own account
- The real estate interview guide
- A real modelling test with a 30-minute limit
- Factsheet of key ratios, investment checklist, calculator template
- Methodology overview, and a hotel underwriting model (free only; hotels are not in the paid programme)
Practise on the real thing before yours.
The programme holds 10 real modelling tests from UK and European funds and banks. You sit each one against the clock, then open the finished Excel and watch it built on video.
With a date in the diary
- Sit the free 30-minute test today and see where you stand
- The programme is recorded, so you start the day you join and go at the pace your date demands
- Not sure what to work on first? Book a free call: a conversation with one of the CRE Modelling team about where you stand, which gaps matter most, and a plain answer on whether the programme fits
You can underwrite. Real estate asks for it differently.
You know returns, leverage and how a committee reads a case. What changes is the asset: rent rolls, leases, cap rates, and the waterfall as a fund sets it up. The modelling test at associate level expects all of it in one sitting.
Start with the free test
- A real test, with a 30-minute limit: see how far your underwriting carries across
- Then the programme in the order that fills your gaps, and Coaching if telling your deals in real estate terms is the harder part
Success Stories
“After struggling with Excel modelling for months, I came across CRE Modelling, and it was exactly what I needed. The course is well-structured and helped me break down complex concepts. I went into my next interview confident, and I passed the modelling test with flying colours!”
G. LeongSenior Associate RE Acquisitions“I can’t thank CRE Modelling enough for helping me land my dream job! The course content is top-notch and incredibly thorough. I particularly loved the emphasis on real-world scenarios, which helped me confidently tackle the Excel modelling test during my interview. I’m already applying the skills I’ve learned in my new role!”
J. VineRE Acquisitions Analyst“Coming from a non-real estate background, I found this course incredibly valuable. It gave me all the foundational knowledge I needed, and the real-world examples helped bridge the gap between theory and practice. The course gave me the confidence to transition into the industry and succeed in my new role.”
E. StreeterVice President RE Investments“If you’re aiming for private equity, this course is a must. The modelling techniques I learned here were directly applicable to my role, and it gave me the confidence to nail my interview. I credit CRE Modelling for helping me break into the industry.”
G. McDonaldAcquisitions Analyst“I had little experience with financial modelling when I first started, but CRE Modelling’s course broke everything down in such a digestible way. The practical exercises and real-world examples helped me build the skills and confidence I needed to land my analyst position. I’m so grateful for the knowledge I’ve gained!”
T. HillRE Investment AnalystOur journey began with a simple question.
“I am applying for a job at a Real Estate firm. I’m going to have to take an Excel modelling exam when I get there. What should I expect?”
A student
After being asked that hundreds of times, we built the answer.
Consistent High Success Rate
95% of our students have passed their modelling tests. Our approach builds confidence and competence, not just for the test but for the job.
Expert-Led Curriculum
Designed and taught by people with real-world experience in Investment Banking and Private Equity: the exact skills required in the industry.
Hands-On Practice with Real Data
Real modelling tests and case studies from Investment Banks and Private Equity Funds, simulating the conditions you will face in the actual test.
Taught by former Blackstone and Goldman Sachs investors.
Anita Melice
Co-founder. Leads the Coaching. Previously senior roles in real estate acquisitions at Blackstone, Cerberus and Goldman Sachs.
Mark Edwards
Co-founder. Previously senior roles in real estate acquisitions at Goldman Sachs.
The Real Estate Modelling Programme, with or without Coaching
We build these Excel models from scratch, line by line. Every single piece of the model is built on-screen, nothing comes pre-packaged. Recorded, so you start the day you join and go at your own pace.
| A | B | |
|---|---|---|
| 5 | Asking Price | 14,000,000 |
| 6 | Acquisition Costs | 3.0% |
| 7 | Net Purchase Price | 14,420,000 |
| 10 | Exit (Terminal) Cap Rate | 9.5% |
| 11 | Closing Costs | 2.25% |
| 12 | Exit Price | 15,561,137 |
| 13 | Net Exit Price | 15,211,011 |
| A | B | C | |
|---|---|---|---|
| 37 | Financing | ||
| 38 | Loan Amount | 75% | 10,815,000 |
| 39 | Interest Rate | 6.0% | |
| 40 | Term | 10 | |
| 41 | Amortisation | 25 | |
| 43 | PMT | 846,022 |
| A | B | |
|---|---|---|
| 51 | Outputs | |
| 54 | Year 1 Cap Rate | 7.6% |
| 55 | Year 1 Cash on Cash | 7.0% |
| 56 | 10 year Leveraged IRR | 15.0% |
| 57 | 10 year Unleveraged IRR | 8.9% |
| 58 | Year 1 Debt Service Coverage Ratio | 1.30 |
What’s inside: from your first cash flow to a full equity waterfall, then 10 real modelling tests
- Building an Asset Cash FlowSmall bite-size material in Microsoft Excel and video format: present value, net present value and IRR; an annual and a quarterly discounted cash flow
- Incorporating Debt and LeverageInterest-only and amortising loans; a sponsor’s levered cash flow
- Waterfall Modelling and Promote StructuresHow profit is split between investors; a three-tier equity waterfall; a partnership model. Mini-tests throughout based on real modelling tests, with full solutions
- Then the 10 real modelling testsFrom UK and European private equity firms, debt funds and investment banks, each with a full video walkthrough and the finished Excel
Modelling Programme
£1,500For you if the modelling is the gap
- The full recorded course, from first principles to a fund waterfall
- 10 real modelling tests from UK and European funds and banks, each with a video walkthrough and the finished Excel
- The course Excel workbook
- At your own pace, with lifetime access: go back over any part as often as you like
Modelling Programme + Coaching
£2,000For you if the interview is the harder part
- Everything in the Modelling Programme
- Three one-hour one-to-one sessions, used however you find most useful: a mock interview, job-search strategy, or anything else you need
- Your CV edited and re-checked, your LinkedIn profile reviewed, and a written plan built around your test or interview date
Led by Anita MeliceBlackstone, Cerberus and Goldman Sachs before CRE ModellingNot sure which? Book the free call first.Employer paying? Book a free call and we’ll arrange it with them.