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Zixu
- Rate RM130
- Response 1h

RM130/h
This tutor is currently unavailable
- Finance
Real Estate Finance: Cap rates, pro formas, DCF, IRR, development cashflows, Excel 101
- Finance
Lesson location
About Zixu
I teach real estate finance by moving systematically from first principles to clean, auditable models. I hold a Master of Science in Real Estate Development from Columbia University and a Bachelor of Commerce in Finance and Economics from the University of Toronto. Professionally, I have worked across underwriting, asset management, and development, where I have built pro formas, sized debt, and presented countless investment memoranda. I also serve as co-founder of PropTory, a platform that uses blockchain technology to modernize real-estate transactions and expand access worldwide. My instruction is practical and outcomes-oriented: I clarify core concepts—such as the relationship between capitalization rates and discount rates, and the distinction between unlevered and levered returns—and translate them into Excel models that students can explain confidently in interviews or apply directly to live transactions. I am patient, structured, and direct. Each session concludes with a tangible learning outcome and a clear plan for next steps. I welcome students, career switchers, junior analysts, and investors who want to improve their current understanding of the subjects.
About the lesson
- Primary
- Secondary
- SPM
- +7
levels :
Primary
Secondary
SPM
Form 6
STPM
Adult education
Bachelor
Masters
Doctorate
Other
- English
- Mandarin
All languages in which the lesson is available :
English
Mandarin
What you’ll master:
1. Core concepts → models: Time value of money, cap rate vs. discount rate, unlevered vs. levered returns → 5-line DCF → full pro-forma with sensitivities.
2. Loans: DSCR/LTV sizing, interest-only vs. amortizing, covenants, refinance math, debt-yield & proceeds waterfalls.
3. Acquisitions: Rent roll normalization, NOI build, T-12 to forward NOI, cap-rate/exit assumptions, value-add plan, IRR/EM hurdles.
4. Development: Sources & uses, draw schedule, interest carry, contingency, lease-up/absorption, stabilization and exit.
Tracks (pick one or mix):
1. Foundations → Modeling (4 lessons)
L1: Cap rate value; build an unlevered DCF; pitfalls (units, annualization).
L2: Full pro-forma (revenues, opex, reserves); simple sensitivity.
L3: Add debt (DSCR/LTV sizing, IO vs. amortizing); levered IRR.
L4: Present a one-page investment memo (assumptions, risks, decision).
2. Loans Deep-Dive (3–4 lessons)
Term sheet anatomy; lender’s view (DSCR, DY, LTV).
Proceeds sizing & refinance underwriting; covenant cases.
Sensitivities (rates, NOI shocks); default and breakeven math.
3. Acquisitions Underwriting (4–5 lessons)
T-12 clean-up, rent roll checks, market vs. in-place.
Value-add plan (CapEx, loss-to-lease, mark-to-market).
Exit cap / hold-period logic; returns & risk commentary.
4. Development Pro-Forma (5–6 lessons)
Land deal & soft/hard cost map; sources/uses.
Draw schedule + monthly interest carry.
Lease-up/absorption model; stabilization test.
Exits (sell vs. refi) & sensitivity dashboard.
Rates
Rate
- RM130
Pack rates
- 5h: RM638
- 10h: RM1159
online
- RM130/h
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