Introduction to the Waterfall Framework
Partnering with others can make real estate investment more accessible—but tracking and distributing returns fairly requires the right framework. In this course, professional investor Symon He demystifies the waterfall distribution model, a widely used method for allocating investment returns among multiple partners. You'll learn how this model accounts for both capital contributions and sweat equity, ensuring that everyone is compensated proportionally for their role in the deal.
Through hands-on examples—including a restaurant startup, a rental property, and a parking garage—you’ll see how to apply waterfall structures in real-world scenarios using Excel-based tools. Symon also explores the dynamics of investing with friends, family, and business partners, and teaches you how to handle rental income, fix-and-flip profits, and potential losses within a clear, structured return model.
Stanford MBA, Real Estate Expert, Financial Modeling Ninja
Hey, thank you for considering taking one of my courses. I am a real estate and business consultant based out of Los Angeles CA. I am the co-author of "Airbnb for Dummies", to be released May 2020. I currently help private real estate investors with their acquisitions and deal structuring and advise startup entrepreneurs on their business models and financial forecasts. Previously, I was head of marketing analytics at the Panda Restaurant Group after serving as a senior financial analyst supporting new store underwriting efforts. Before that, I was a global M&A manager for Ingram Micro, a Fortune 80 company. Prior to that, I worked on commercial real estate acquisitions at a private equity real estate fund, covering a wide range of asset classes across the western USA. I am also a cofounder of LearnBNB, a boutique consultancy and education blog specializing in the home-sharing economy. I received dual degrees in Computer Engineering (Magna Cum Laude) and Economics (Summa Cum Laude) from UC Irvine and an MBA from Stanford University.
This portal is provided as a training and development resource for City of Markham employees. Every course is delivered by a qualified subject matter expert or learning organization, is quantifiable in hours, and is verifiable — you receive a documented certificate of completion for every course you finish, stored on LearnFormula indefinitely.
If you hold a professional designation (for example in engineering, accounting, human resources, or law), courses may be counted as professionally relevant, verifiable learning activities toward your continuing professional development. Individual practitioners are responsible for confirming that an activity meets the requirements of their professional body. For questions about the City of Markham's training and development policies, please speak with your people leader or Human Resources.
