Podcast appearances and mentions of bruce kirsch

In this insightful episode, Bruce Kirsch shares how real estate professionals can quickly evaluate investment opportunities using his powerful analysis tool. He explains how, in just a few minutes, the tool helps users determine whether a deal is worth exploring further—or if it's better to walk away. This fast, first-pass analysis is designed to save time and focus attention on promising opportunities. At the end of the episode, listeners will also learn where they can download this valuable tool completely free of charge.

Bio As the founder of Real Estate Financial Modeling (REFM), Bruce Kirsch has trained thousands of students and professionals around the world in Excel-based projection analysis. In addition, REFM's self-study products, Excel-based templates and its Valuate® property valuation and investment analysis software are used by more than 100,000 professionals. Mr. Kirsch's firm has assisted with modeling for the raising of billions of dollars of equity and debt for individual property acquisitions and developments, as well as for major mixed-use projects and private equity funds. Mr. Kirsch has also maintained a blog on real estate financial modeling, Model for Success, authoring more than 500 posts, and he is the co-author of Real Estate Finance and Investments: Risks and Opportunities, along with Dr. Peter Linneman. Mr. Kirsch began his real estate career at CB Richard Ellis, where he marketed highrise New York City office buildings for re-development in the Midtown Manhattan Investment Properties Institutional Group. After CBRE, Mr. Kirsch was recruited to lead acquisitions at Metropolis Development Company, and later joined The Clarett Group, a programmatic development partner of Prudential. While at The Clarett Group, Mr. Kirsch was responsible for making development site recommendations for office, condominium and multi-family properties in the greater Washington, D.C. metropolitan area. In addition, Mr. Kirsch had significant day-to-day project management responsibilities for the entitlement, financing and marketing of the company's existing D.C.-area development portfolio. Mr. Kirsch holds an MBA in Real Estate from The Wharton School of the University of Pennsylvania, where he was awarded the Benjamin Franklin Kahn/Washington Real Estate Investment Trust Award for academic excellence. Prior to Wharton, Mr. Kirsch performed quantitative equity research on the technology sector at The Capital Group Companies. Mr. Kirsch served as an Adjunct Faculty member in real estate finance at Georgetown University School of Continuing Studies. Mr. Kirsch graduated with a BA in Communication from Stanford University. Show Notes Introduction and Podcast Format Introduction of Bruce Kirsch and the podcast format, including a traditional interview followed by a case study and discussion of AI tools. (2:40) Bruce Kirsch and REFM Bruce Kirsch's current role as the founder of REFM (Real Estate Financial Modeling), his 17-year career helping others with financial modeling in Excel, and his various activities including consulting, training, coaching, and creating tools (5:45) Early Life and Career Path Bruce Kirsch's upbringing on Long Island and early influences from his father (a civil engineer) and mother (an interior designer), as well as his childhood fascination with the Manhattan skyline (8:30) Bruce Kirsch's pursuit of a BA in Communication from Stanford University, his interest in visual arts and filmmaking, and his experience in the photography darkroom (12:50) The unexpected connection between his Stanford communication background and his current work in financial modeling, particularly in storytelling and visual communication (13:30) His experience taking a gap year between high school and college (14:45) His reasons for choosing Stanford, including the campus and the network (15:15) His career trajectory after Stanford: working in Hollywood and then in the mutual fund business (21:00) His experience during the tech bust while working in equity research (25:45) His decision to pursue an MBA at Wharton to gain a business education and his eventual focus on real estate after walks through Philadelphia (27:30) His relationship with Peter Linneman at Wharton and taking his real estate finance and investments course (29:05) His experience working for a developer in Washington DC during the red-hot condominium market of 2003 at Metropolis Development Company (30:50) Experiencing the downturn in the real estate market around 2007-2009 and being laid off (33:00) The role of desperation as a motivator in starting his business (35:00) Financial Modeling Principles Discussion on the role of projections in real estate investment decisions despite their inherent uncertainty, using the analogy of a flight plan (39:20) Acknowledging that financial analyses rarely align perfectly with actual outcomes and questioning if Bruce has ever had a proforma come true (40:30) Addressing the impact of externalities like inflation, the S&L crisis, 9/11, the Global Financial Crisis, and COVID-19 on real estate projections (41:30) Strategies for compensating for unpredictable events and the importance of stress testing models and having a cushion (45:00) The difficulty of modeling black swan events (48:00) Advice for individuals aspiring to enter the field of real estate financial modeling (50:40) What excites Bruce Kirsch about financial analysis and the importance of understanding the real estate business and transaction mechanics (52:00) His collaboration with Peter Linneman on the textbook "Real Estate Finance and Investments", which began through his teaching at Georgetown (53:00) "Valuate" software derivation (56:00) Bruce Kirsch's observations over the past 17 years, emphasizing the balance between precision and practicality in financial modeling (58:40) Growth is painful (59:00) Company as small as it has been...just him now (1:01:00) Advice is to learn from mistakes and maintain humility (1:03:30) Spreadsheet starts out blank and is a tool. Always increase knowledge of real estate business and ask why conventions like "waterfalls" are there. (1:07:45) AI in Real Estate Demonstration of Bruce Kirsch's analytical model and discussion of AI tools he has experimented with, highlighting challenges with trustworthiness and current limitations (he shares a multifamily acquisition model online) (1:10:00) Discussion on prompting AI and its effectiveness in refining assumptions. AI is "oversold" as a reliable tool currently. (1:12:15) Bruce Kirsch's dream scenario for AI's application in his work, such as auditing spreadsheets and automating grunt work (1:14:30) Discussion about the potential for custom AI models tailored to specific expertise (1:20:00) The importance of data quality and internal data troves for effective AI implementation (1:27:30) Dream scenario for Bruce is AI doing an audit on spreadsheets and reporting back the errors from inspection (1:29:00) Insights from Bruce's former interns on the most painful day-to-day tasks they'd like to offload to AI, such as pulling comps and market data (1:33:00) Exploring the potential of AI in collaborating on deal analysis and generating different scenarios for complex situations like restructurings and adaptive reuse (1:36:00) Analogy of AI tools to the Bloomberg terminal (1:38:50) Comparison of the current state of AI to the early days of the internet (1:39:30) Discussion about Khan Academy's AI tool, Khanmigo, and its domain-specific training for education. Salman Khan's book is "Brave New Words" (1:40:30) Experiences of an Iconic Journey in CRE member (Chris Caylor) with ChatGPT and Otter.ai for automation and note-taking (1:43:00) Hypothetical case study on how AI could assist in multifamily deal analysis (1:47:20) Concerns about the potential for AI to homogenize deal underwriting (1:48:45) The role of AI in standardizing data formats and creating more digestible reports (1:49:45) Bruce Kirsch's agreement on the potential of AI to improve clarity and liquidity in the real estate market (1:51:15) REFM Opportunities Bruce discusses the services (REFI) format (see below for course information and a discount) (1:53:00) He built the model for The Wharf DC, a 2+ million s.f. mixed use project (110 tabs) (1:56:00) Questionnaire about mixed use properties (1:58:00) Personal Reflections and Industry Perspective Bruce Kirsch's overall perspective on the real estate industry, highlighting it as a tremendous and multidisciplinary opportunity and the paramount importance of reputation and trust (2:00:30) Bruce Kirsch's message if he could put a sign on the Capitol Beltway: "Don't take yourself too seriously" (2:04:30) Courses Bruce is offering his courses at a discount to podcast listeners. First, take a free assessment at this link: https://courses.getrefm.com/shop/free-tools/free-assessment-tests/. When you've determined your level, go to this website: https://courses.getrefm.com/ and use the discount code "Iconic" at the checkout to get a 15% discount for the course. Similar Episodes Michael Broder David Kessler Brad Olsen Mike Bush

2023 is upon us. It's the start of a new year. And if you aren't already invested in real estate, this is the year for you!Here are the top 3 education resources to help you get started on your real estate investing journey. 1) The Fort by Chris PowersThis is a YouTube channel and a podcast hosted by Chris Powers. Chris is the founder of Fort Capital, a commercial real estate investment firm that has now amassed almost $2B in assets across Texas, Florida, and Tennessee. 2) Bruce Kirsch and REFAI. Bruce Kirsch is the founder of the REFAI certification program. This is an excellent crash course on real estate investing, and its highly desirable certification for those looking to add to their resume. 3) Bruce Peterson and his book, Syndicating Is A Bitch. If you're interested in real estate investing, you know what a syndication is. And this book is a GREAT resource for you. Bruce Peterson is a leader in syndications. And in his book he provides a lot of information that you're not going to hear from other resources. Tweetable Quotes:"We have created THE guide for you. We help you build generational wealth, additional passive income streams, AND reduce your yearly tax burden. "– Anthony VicinoLEAVE A REVIEW if you liked this episode!!Keep up with the podcast! Follow us on Apple, Stitcher, Google, and other podcast streaming platforms.To learn more, visit us at https://invictusmultifamily.com/**Want to learn more about investing with us?**We'd love to learn more about you and your investment goals. Please fill out this form and let's schedule a call: https://invictusmultifamily.com/contact/**Let's Connect On Social Media!**LinkedIn: https://www.linkedin.com/company/11681388/admin/Facebook: https://www.facebook.com/invictuscapitalventures/YouTube: https://bit.ly/2Lc0ctX

What do you know about financial modeling? How is it affecting commercial real estate? Why you need to understand the financial modeling for CRE? ▶️ Visit to know more: https://www.raphaelcollazo.com/ Welcome, and for all your questions, Raphael Collazo is here to help you with Understanding Financial Modeling with Bruce Kirsch. If you are interested in learning about the many facets of commercial real estate, whether you're a business owner, investor, or just someone who's curious about the subject, you'll gain value from being a part of the group! In today's episode, Bruce Kirsch, Founder of REFM, Author of the "RE Finance and Investments" textbook and REFAI Certification program, discussed his background and explained how he got started in the commercial real estate industry. Along with that, he will share strategies to effectively model the financial performance of commercial real estate investment opportunities.

Bruce Kirsh is the founder of REFM and the creator of Valuate software, the fastest-growing property valuation and investment analysis platform in the world. He is also the co-author of the "Real Estate Finance and Investments: Risks and Opportunities" textbook and the associated REFAI Certification program   — To learn about our investment strategy and business plan If you’re interested in real estate investing, particularly passive real estate investing Dwaine Clarke has the resources you need to achieve financial freedom and wealth. If you are an accredited investor you can partner with Dwaine in a passive investment opportunity, receiving all the benefits of an active owner without being an active owner. http://passiveinvestorsclub.com/invest-with-us/ Thank you and I appreciate you watching this video. Please like, subscribe, and share with others that you may find this valuable. Your comments are useful and help us generate better quality content based on your feedback. — Subscribe to my channel here: https://www.youtube.com/channel/UCb66-jA-WR4-LlJqp8Sn2wg?sub_confirmation=1 — Dwaine L. Clarke is the Founder and Managing Partner of Jackson Clarke Capital Partners a real estate investment firm focused on the acquisition and re-positioning of Apartment properties in major metropolitan markets. http://jacksonclarkegroup.com In addition to Jackson Clarke Capital, Dwaine is also the Founder and President of GCT Net Lease an investment real estate services firm exclusively focusing on Single and Multi-Tenant Net Lease Properties. The firm provides a full range of brokerage and advisory services nationwide to High Net worth Investors, Developers, REITs and Institutional Investment Funds. http://buynnnproperties.com Dwaine is also the host of Wealth Through Real Estate Investing and Small Business, Big Ideas Podcasts. He is also the author of three best selling real estate investing books. — Follow Me Online Here: Instagram: https://www.instagram.com/dwainelclarke/ Facebook: https://www.facebook.com/DwaineClarkeOfficial LinkedIn: https://www.linkedin.com/in/dwaineclarke/ Website: http://passiveinvestorsclub.com Twitter: http://twitter.com/dwaineclarke Medium: http://medium.com/@dwaineclarke Sound Cloud: https://soundcloud.com/dwaineclarke Podcast: https://podcasts.apple.com/us/podcast/wealth-through-real-estate-investing/id1457606006 Subscribe to my VIP Newsletter for upcoming investment opportunities, exclusive content and giveaways here: http://dwainelclarke.com/VIP

Bruce Kirsch is the founder of REFM - a company that provides tools and training for commercial real estate transaction projection analysis.

The way you present your business is critical to your organization's success. Proving this as a fact, Bruce Kirsch explores the importance of financial modeling and presenting information in an attractive manner so you can raise capital and bring on other financial stakeholders both on the debt and the equity side. Bruce also highlights the […]

Leaders from Xceligent, Realtors Property Resource, Valuate and Buildout join Michael in Studio One to share insight on how the use of integrated technology can add efficiency and profits to your business. In this segment, Nathan Graham with RPR and Bruce Kirsch with Valuate discuss the integration between their platforms.Appreciate the video? The best thank you is to check out our sponsors. See if they might be of value to you, or your referrals. http://commercialrealestateshow.com/c...Don’t miss a show of special interest to you, subscribe to our weekly show topic email notification. You’ll know who’s on the show and what it’s about.http://bit.ly/2gfoKSNYou’re invited to subscribe to the show’s YouTube channel.http://www.youtube.com/subscription_c...For more videos, podcasts, and articles, visit http://www.CREshow.com

Today’s Best Ever guest shares with you why financial models are important and how to use them. Plus, he tells you why it’s important to learn the story behind the property. Bruce Kirsch’s real estate background: –        President of , a financial modeling provider for Excel spreadsheets, training and consulting based in Atlanta –        Assisting principals in capital raises and has helped clients raise multiple of billions of dollars debt and equity on their projects –        Has served as an Adjunct Faculty member in real estate finance at Georgetown University

Bruce Kirsch, Founder of REFM, discusses how to improve your financial modeling on investment decisions.

This week's show I'm going to share with you a short segment that I recently recorded with financial modeling expert and founder of REFM, Bruce Kirsch. Bruce will offer a few quick tips on how to effectively analyze and underwrite deals to help us avoid any potential mistakes which could affect the final output that you end up with in your evaluation.   This is such a basic topic, but one that is so vitally important because making just one small input mistake in your financial evaluation can be the difference between a good deal and a bad one. There have been many times where I've run a property through my financial modeling software only to have the results seem much better than I originally anticipated, and in almost all circumstances, it was due to an input error on my behalf. Recommended Resources: Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2 Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click here https://www.timetrade.com/book/FGF7S

Today’s Best Ever guest shares with us how you should look at houses before you buy them, and why it is so darn important to have a gritty mindset as a real estate investor.     Best Ever Tweet:   Approach things on how can I.   Nicole Pettis’s real estate background: -          Used to be a professional foosball player -          Based in Milwaukee, Wisconsin -          President of Brew City Real Estate Investment   Subscribe in   and    so you don't miss an episode!   Made Possible Because of Our Best Ever Sponsors:   - Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions at     - Tired of spending HOURS running the numbers on deals that don’t work? Former Best Ever guest, Bruce Kirsch has the solution! Go to to get your FREE version of his software to evaluate deals. 

Today’s Best Ever guest knows Cleveland like the back of his hand…basketball and real estate! He shares with us his Best Ever practices in order to make sure a rental is kept in good shape, how to determine a good market to invest in and why it is SO important to do your due diligence.     Best Ever Tweet:   You gotta keep your systems in place and adhere to your systems.   James Wise’s real estate background: -          Co-founder of The Holton Wise Property Group based in Cleveland, Ohio -          Real estate broker and his company manages a portfolio of about 250 rental units where they own about 100 of those units -          Say hi to him at   -          Huge Cleveland Cavaliers fan   Subscribe in   and    so you don't miss an episode!   Made Possible Because of Our Best Ever Sponsors:   - Want to learn more about crowdfunding? Let the leading expert in the crowdfunding space, Patch of Land, give you all the info you need to get started. Grab your FREE copy of Top Ten Answers to the Top Ten Crowdfunding Questions at     - Tired of spending HOURS running the numbers on deals that don’t work? Former Best Ever guest, Bruce Kirsch has the solution! Go to to get your FREE version of his software to evaluate deals. 

This week we're going to speaking with Bruce Kirsch who is founder of REFM, a real estate financial modeling solutions provider who offers financial spreadsheet models, finance and financial modeling training, and financial modeling consulting for real estate transactions of all types. REFM provides its customers with the advanced financial modeling knowledge, tools and skills they need to successfully model their real estate transactions and present them with confidence to potential partners, lenders and investors. I’ve actually had the opportunity to go through and evaluate a few of REFM’s modeling tools and online training programs and I can personally say that the tools and trainings that Bruce and REFM offer are top notch and also very affordable in comparison to some of the other popular financial modeling software providers. And as an added bonus, REFM has a ton of free tools and resources available on their website including a free “back of the envelope” property evaluation templates to help you quickly sort out the promising deals from the duds. In this show you’re going to learn: What financial modeling is and why it's such a critical part of being a successful real estate investor How to obtain the proper operations data for a property and make valid assumptions when building a financial model How financial modeling helps you create and tell the story of any given property which is vitally important when raising private capital or pitching the deal to investors Why you need to stay privy to all your local real estate news Learn about REFM's tools and resources and how they can help your real estate business How to download REFM's free modeling templates and other financial modeling tools And much more  Recommended Resources: Download my free success guide,  “7 habits of highly successful multi-family investors” by going to www.KevinBupp.com/guide Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2 Looking to invest in Mobile Home Parks? Want to JV with me on deals? If so, schedule a call with me and let’s talk. Click herehttps://www.timetrade.com/book/FGF7S Learn more about REFM and Bruce by going to www.GetREFM.com 

Today’s Best Ever guest shares with you why financial models are important and how to use them. Plus, he tells you why it’s important to learn the story behind the property.   Tweetable quote: A financial model is a story telling tool.   Bruce Kirsch’s real estate background: -        President of , a financial modeling provider for Excel spreadsheets, training and consulting based in Atlanta -        Assisting principals in capital raises and has helped clients raise multiple of billions of dollars debt and equity on their projects -        Has served as an Adjunct Faculty member in real estate finance at Georgetown University     Subscribe in    and    so you don't miss an episode!     Sponsored by Cozy - Simple, free online rent payments, tenant screening and credit checks. Get Cozy for free at .