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REFM Courses

Commercial Real Estate Training Courses

Welcome to REFM,
the home of both
Excel for Real Estate and
REFAI® Certification

Since 2009, top CRE firms and educational institutions have trusted REFM to train thousands of their employees and students. Mastering REFM material allows you to apply proven modeling frameworks to real estate decision making, and approach any analysis with confidence.

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Main Content

 
You’re at the right place if you want to gain the skills, knowledge and Certifications to help you enter and rise up in the commercial real estate business.
Learn from REFM’s founder and recognized expert Bruce Kirsch, and industry icon and living legend Dr. Peter Linneman.
Same-day Credentials Verification

 

 

I just want to say how amazing the REFAI course was overall. I really am pushing around twenty other younger college students to take this to get them ahead of the curve. It really does a great job of teaching you a topic through the book, then pounding it in your head through the lecture then understanding it analytically with the Excel. Thank you again.

Chris Comet, Student

 

I just took the final exam for the REFAI course after completing all prior tasks. Incredible course, especially for an experienced analyst looking to get a very in-depth understanding of the equity side of acquisitions. Thanks again for a great course – best CRE training out there.

Connor Nolan, Underwriting Analyst

 

 

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Free With Site Registration

 

Introduction to the Real Estate Business

In this free 35-minute course, you will learn about types of real estate, sources of capital, how capital is used to create value in real estate, investment objectives and methods, and get an introduction to the valuation of real estate.

10-question quiz and answer key included!

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Also with site registration are two free assessment tests, with instant grading and free answer keys:

  • How much do you really know about the commercial real estate business? (21 questions)
  • How good are your Excel skills for real estate finance and investment analysis? (15 questions)
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Clients include

 

  • University clients logos
 

 

Crow Holdings Capital
Cushman & Wakefield
Affinius Capital
Harvard University
Mays Business School | Texas A&M University
University of Florida
University of Southern California

 

 

REFAI Certification from Linneman Associates and Real Estate Financial Modeling

 

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The Real Estate Finance and Investments Certification (REFAI) from Linneman Associates and Real Estate Financial Modeling is a rigorous online educational self-study program focused on high-impact outcomes.

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REFAI Student Stories
The REFAI Course

 

 

Content Authorship

Bruce Kirsch, REFAI®

 

Training content is created by REFM founder Bruce Kirsch, a recognized expert in Excel-based modeling for CRE transactions and commercial real estate finance and investments education.

Mr. Kirsch is also the co-author of the top graduate-level real estate textbook, Real Estate Finance and Investments: Risks and Opportunities, along with Dr. Peter Linneman, the founding Chairman of The Wharton School’s Real Estate department. In addition, Mr. Kirsch is the co-creator of the REFAI® Certification Program along with Dr. Linneman. Prior to REFM, Mr. Kirsch worked in analytical roles for two top real estate platforms and a global mutual fund manager.

Past Adjunct Faculty in Real Estate
Georgetown University
MBA in Real Estate
The Wharton School
BA in Communication
Stanford University

 

 

Free Resources

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Introduction to the Real Estate Business
Excel Keyboard Shortcut for Mac and PC

 

REFM Self Study Lecture Courses

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Identiying Risks and Opportunities in Commercial Real Estate
Real Estate Finance and Investments in 80 Minutes
Truly Understanding Capitalization (Cap) Rates
Real Estate Development Modeling Basics

 

REFM Excel-Based Modeling and Certification Courses

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Mixed-Used OfficeBuilding Development Financial Modeling
Advanced Single Transaction Debt and Equity Modeling
Excel for Real Estate Certification Level 1 Course
Excel for Real Estate Certification Level 2 Course
Excel for Real Estate Certification Level 3 Course
Excel for Real Estate Certification Levels 1, 2, and 3 Bootcamp Bundle
Excel for Real Estate Certification Levels 1 and 2 Bootcamp Bundle
Excel for Real Estate Certification Levels 2 and 3 Bootcamp Bundle
The New York Course Ofiice Building Development and Acquisition Bundle
Office Property Operating Projection and Acquisition Analysis Modeling
Value Add Apartment Building Acquisition and Renovation Analysis Modeling Tutorial and Tool Bundle Course

 

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COMPARISON OF REFM COURSES WITH CERTIFICATIONS

 

Course Level 1-3 Certification Bootcamp Bundle The New York Course Bundle Real Estate Finance and Investments (REFAI®) Certification
Content Level 1,2,3 Excel for Real Estate Certification Bootcamps
  • Level 1,2,3 Certification Bootcamps
  • Mixed-Use Office Building Development Modeling
  • Office Property Operating and Acquisition Modeling
Time to Complete 15 – 20 hours 22 – 40 hours 120 – 160 hours
Standard Price $479 $999 $1,999
Academic and U.S. Military Price $349 $459 $699