How to Underwrite and Model Commercial Real Estate: Full Course

Alkaline Advisors

Alkaline Advisors

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Download the Excel workbook: https://www.alkaline-advisors.com/aa-...

Think real estate investing is too complicated? It's not.

Spencer Correnti (Founder & CEO of Alkaline Advisors) breaks down how to analyze deals like a pro — no MBA required. Learn the frameworks used on $15B+ in real estate projects.

What You'll Learn:
✓ The 3 variables that unlock every deal (contributions, distributions, timing)
✓ How to read financial models and understand what's actually happening
✓ Why cap rates matter more than you think
✓ Static vs. dynamic modeling: which one to use
✓ The 6-step underwriting framework professionals use
✓ Scenario and sensitivity analysis (stress-testing your deals)
✓ AI in real estate modeling—the honest truth

Perfect For:

Students exploring finance/real estate careers
First-time investors wanting to understand the numbers
Junior analysts wanting the full picture
Anyone intimidated by real estate jargon

Timestamps:
00:00 Background
02:40 Modeling Basics
09:35 Property Types
24:45 Players in CRE
31:38 Six Parts of Underwriting
49:40 Excel Workbook Walkthrough
1:09:00 Excel Model Walkthrough

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