Architect as Developer
One of the most well-known online courses for architects interested in development is Jonathan Segal’s Architect as Developer course. This course is a pretty good starting place for anyone wanting to learn more about developing as an architect. I know a lot of architects who have taken this course. That said, it isn’t cheap. The course runs $499 with an optional subscription fee of $9.99 for continued access to the Jonny’s World videos where Jonathan gives periodic updates on his projects and answers questions from participants. Is it worth it? Hard to say. The course itself is only 4-hours long. The real meat of information is in the Jonny’s World videos. There are over 70 videos (usually a few minutes each) dating back from 2012. You will learn the most by going through each of these. He doesn’t add videos very often anymore, making the subscription less worthwhile. If you don’t mind dropping $500, then do it. You can learn just as much for a lot less money by reading real estate books. See some of the books I recommend on the Architect & Developer Books page {here}.
See more about the course at architectasdeveloper.com
See a podcast interview with Jonathan Segal {here}.
Real Estate Finance
with Joshua Kahr Columbia Real Estate
This is an actual university course offered by Columbia University Graduate School of Architecture, Planning and Preservation (GSAPP). You can watch or listen to the entire course for free on iTunesU on their app or website at itunes.apple.com. Professor Kahr does a fantastic job of teaching architects about real estate. He has also put the lecture series on his own YouTube page along with some Excel tutorials. Check those out {here}. If you are interested in real estate, start with a few lectures from this free online course.
Coursera
You can watch entire semesters of college and graduate level courses from world-renowned universities and professors at your own leisure. Coursera hosts content from many universities which offer free online courses, with an optional paid service for those looking for online certification. Coursera has formed partnerships with Yale University, the University of Pennsylvania (including the Wharton School), the University of Chicago, Columbia University, Stanford University, and so many more. Finding courses that are directly about real estate isn’t easy, but they do have a number of interesting courses including Construction Finance offered by Columbia University and Financial Markets offered by Yale University. This is a fantastic free resource for understanding economics and general finance. When enrolling in a course, keep in mind that the default is a paid model. There is always an option somewhere (it isn’t always easy to find) to audit an online course for free.
See more about coursera at coursera.org
EdX
EdX is similar to Coursera but with partnerships at a different set of universities such as Harvard University, Massachusetts Institute of Technology (MIT), the University of California, Berkeley, Cornell University, and many more. They have a few courses in business and finance that could help you understand the fundamentals of real estate. There are a few courses more specific to real estate including Socially-Responsible Real Estate Development offered by MIT and Project Finance and Public Private Partnerships Fundamentals offered by the New York Institute of Finance.
See more about EdX at edx.org
C|S Architect as Developer Course
In 2016, Architect & Developer Danny Cerezo of C|S Design began putting together a course on Architect as Developer. He has put together a number of videos that walk through a pro forma in a very easy to grasp way. Watch Danny’s videos if you are starting out and trying to understand how pro formas are used in real estate. Also, see more of Danny’s work at candsdesign.com
The most important tool for a developer is the pro forma. This malleable document calculates all the variables that go into putting a deal together with the intent of giving you the ability to make informed decisions regarding the project’s expected financial performance. Once created by hand, there are now plenty of software options that can be used to put these together, from the expensive and polished Argus Developer to the free and sometimes limited Google Sheets. Many developers use the same software I do, the tried-and-true Microsoft Excel. The depth of this software is phenomenal once you learn how to perform complex calculations. Architects tend to shy away from Excel, but if you want to be an Architect & Developer, you will need to spend just as much time in Excel as you do in your design software of choice. You should begin to form a love affair with Excel.
Online Course
Architect & Developer Danny Cerezo of C|S Design has created a great online tutorial of pro formas. Take a look at his videos on YouTube {here}. Also, be sure to download his example pro forma to follow along from his slack page {here}.
Example Pro Formas
There are a few Architects & Developers who have been nice enough to share their pro formas online. Kevin Cavenaugh of Guerrilla Development has a simple pro forma for most of his projects on his website. You can download them below and see more about his work on his website at guerrilladev.co.
Atomic Orchard Experiment {download pro forma}
Box + One {download pro forma}
Dr. Jim’s Still Really Nice {download pro forma}
Fair-Haired Dumbbell {download pro forma}
New New Crusher Court {download pro forma}
The Zipper {download pro forma}
Rig-A-Hut {download pro forma}
The Ocean {download pro forma}
The Shore {download pro forma}
Tree Farm {download pro forma}
Two Thirds Project {download pro forma}
Architect and Developer Zeke Freeman of Root Architecture + Developement shared his pro forma for a project he described in his Business of Architecture interview which included a 203(k) loan. See his interviews {here} to follow along.
Root Architecture + Development {download pro forma}
John Anderson posted an example pro forma on the Neighborhood Development Facebook group. See more information and download the pro forma {here}.
]]>
Mark R. LePage at the EntreArchitect podcast recently interviewed Architect & Developer Danny Cerezo of C|S Design in Los Angeles, CA. Listen to the podcast and see show notes at EntreArchitect.com. See more about Danny at candsdesign.com. Also, be sure to check out his video tutorials on YouTube where he walks you through creating a pro forma {here}. It’s a fantastic resource for architects.
Be sure to head to EntreArchitect.com to download the worksheet pro forma that Danny talks about {here}. If you want to listen to more podcasts with Architects & Developers, check out the podcasts page {here}.
]]>