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Product Description NAMED ONE OF THE BEST COMMERCIAL REAL ESTATE BOOKS BY THE MOTLEY FOOL Foundations of Real Estate Financial Modelling, Second Edition is specifically designed to provide the scalable basis of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory prior to providing a step-by-step guide for financial real estate model construction using Excel. The book introduces an innovative new financial metric, P(Gain), which quantifies the probability of a Return of Capital and answers the most basic question for investing, "What is the probability I get my money back?". This new second edition has been fully revised and expanded. The book is separated into three functional units: (1) Real Estate Valuation Basics, Theory and Skills, (2) Real Estate Pro Forma Modelling, (3) Real Estate Pro Forma (Enhancements). New and enhanced Chapters cover: Interest rates Amortization Single- and multi-family unit Development module Rent roll module Waterfall (equity bifurcation) Hotel, retail/office and townhouse. In addition, this new edition includes problem sets and solutions at the end of each chapter as well as case studies underpinning the chapter topics. Further chapters are dedicated to risk quantification and include scenario, stochastic and Monte Carlo simulations, equity waterfalls, and adding U.S. GAAP financial statements to existing real estate pro forma models. This book is the ideal textbook for a Real Estate Finance class, providing the theoretical basis of real estate finance as well as valuable modelling skills for the workplace. This book provides individuals with a step-by-step instruction on how to construct a real estate financial model starting with a new spreadsheet. The resultant model is portable, scalable, and modular. A companion website provides the pro forma models to readers as a reference for their own constructed models. Companion web material available at: https://pgainllc.com/ Review "Staiger provides in-depth knowledge around interest rates, amortization, valuations, rent rolls, waterfalls, simulations, risk quantification, and so much more. Used as a foundational textbook in many real estate classes, this acts as a reference book that you will use throughout your commercial investing career." –Brad Cartier, MillionAcres About the Author Roger Staiger is an investor, author, and philanthropist. He is the owner of P(Gain), LLC, an international real estate investment and advisory firm that develops, owns and manages real estate and operating businesses in the Washington DC metropolitan area and the Caribbean. On a limited basis, P(Gain) advises clients in areas of global portfolio management, real estate financial modelling, and asset repositioning. The P(Gain) Foundation provides University scholarships for Nevisian graduating seniors. Further, through the Roger P. Staiger Faculty Development Fund, Mr. Staiger personally provides grants for academic research studies. Mr. Staiger has worked in a number of industries at senior levels. He was Managing Director for a Fortune 500 Energy Company’s commodity division, CFO for America’s Best Mid-Sized Builder 2006, and a Senior Portfolio Manager for a large commingled pension fund in New York. Mr. Staiger has earned multiple degrees including BS Electrical Engineering, MBA Investments, MA International Transactions and a MS Finance. He holds or has held university faculty positions in the real estate departments at Georgetown University (Outstanding Faculty Award, 2011), Johns Hopkins University, and University of Maryland in the United States. Mr. Staiger also holds a faculty position in the MS Finance Programme and Finance Department at The George Washington University. Mr. Staiger provides numerous capital markets and economic presentations to organizations internationally. He also appears regularly on television and