What to expect in a real estate financial modelling test and how to pass it: timing, structure, checks, the summary and the interview.

What is a real estate waterfall? See how preferred return, IRR hurdles and promote work in a joint venture, with a worked example.

The main property valuation methods in plain English: comparable, income capitalisation, term and reversion, residual, DCF and cost.

What is a cap rate? Learn the formula, see a worked example and understand how it differs from the UK net initial yield.

Residual land value explained simply: the formula, a worked UK example, and why a small change in GDV or build cost moves the land price so much.

GDV explained in plain English: what gross development value means, three UK ways to calculate it, and how lenders use it.