Pro Forma Modeling with Excel Part I: The Investment Pro Forma

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September 10, 2018 @ 1:30 pm
September 19, 2018 @ 3:30 pm
David Mulvihill, Vice President, Professional Development


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September 10, 12, 17, and 19, 2018
1:30 to 3:30 p.m. ET

This introductory course is a four-part workshop that guides students through the construction and manipulation of a basic multifamily investment pro forma.

The program is geared toward individuals who have never completed a pro forma from scratch. Starting from a blank spreadsheet, students will receive step-by-step direction in the creation of this investment pro forma. At the conclusion of the last session, participants will have completed their own investment pro forma and will have gained a new appreciation for how valuation and investment decisions are made.

Each session of the workshop is designed to build on the previous one, and each participant will have a completed pro-forma model at the conclusion. Participants are expected to use learned skills to independently build individual sections of the model. However, the completed stages will be distributed at the end of each session.

Can’t make a session live? No problem. Registrants will have access to the archive recording of each session for 60 days!

Students Will Learn

  • How to identify the relevant project data required to begin crafting a pro forma
  • Basic to intermediate Excel skills needed to model an industry-accepted pro forma
  • Basic components of an investment pro forma:
    • Inputs
    • Amortization
    • Pro-forma income cash flows
    • Valuation
  • How to construct an amortization table to accommodate different loan types:
    • Constant
    • Payment Mortgage (CPM)
    • Interest only (IO)
    • Custom amortization
  • How to properly format a pro forma for an investment template

InstructorRoger Staiger

Roger Staiger
P(Gain), LLC

Staiger is owner of P(Gain), LLC, an international real estate investment and advisory firm with offices in Washington DC and New Castle, Nevis. P(Gain), LLC develops, owns and manages investments in the DC metropolitan area and the Caribbean.

During his 20-year career Mr. Staiger has worked in a number of industries at senior levels. He was Managing Director for a Fortune 500 Energy Company’s retail commodity division, CFO for America’s Best Mid-Sized Builder 2006, and a Portfolio Manager for a large commingled pension fund in New York.

Mr. Staiger holds multiple degrees including BS Electrical Engineering, MBA Investments, MA International Transactions, and a MS Finance

Mr. Staiger provides numerous capital market and economic presentations to organizations internationally. He also appears regularly on television and is often quoted in national periodicals. Mr. Staiger is recognized globally as an expert in Financial Modelling having authored the leading text on the subject, Foundations of Real Estate Financial Modelling, Routledge, 2015. Global interest and sales have warranted a second edition which is expected mid-2018.


ULI Members: $375
Nonmembers: $495
Govt./nonprofit ULI member: $350
Govt./nonprofit nonmember: $465

Earn an online ULI Certificate in Pro forma Modeling

Now you can earn a ULI specialty certificate while taking online pro forma courses. This course is the first of three required to earn the ULI Certificate in Commercial Real Estate Pro forma Fundamentals.

ULI’s online pro-forma certificate program is designed to provide real estate
development professionals with the set of technical skills necessary to make
better-informed development, investment, and valuation decisions. All from the comfort of your desktop.

An online workshop exam following the conclusion of each program will ensure your content comprehension.

Email for more information.