Kahr Notes Vol. 4, No. 6 * July 7, 2006 * Issue #26 * 2,200 active subscribers

In "Kahr Notes" this month: * Excel Trick of the Month * Argus and Excel Class Schedule

1. Excel Trick of the Month

Instead of telling you how great we are at financial modeling, we've decided that each month we're going to offer up a tool that we built and particularly like.

For example, we were recently challenged by a client to build a construction schedule with flexible start dates and end dates and also shifting costs that were tied to a bell curve. You can download the file "shiftingstart.xls" at our web site at:

http://www.kahrrealestate.com/shiftingstart.xls

We'll also post it on our newsletter site sometime later in the month for the general public.

Be sure to not change any of the data except for the cells in blue, and pay special attention to the formula in column C, E, and G. That's where the "magic" of the model is.

We think this is a nice little tool, and we will share other such tools with you in the future. Have a tricky Excel or real estate problem? Let us know and we'll try and solve it. ________________________________________

2. Excel in New York City this weekend

We have another Excel class this weekend; there are still spaces available. We also continue to offer Argus classes in NYC, Boston, Chicago, and LA and Excel classes in NYC.

The Argus class covers in only two days how to use the software to finance, invest in, and develop real estate. All attendees also receive a copy of my 200 page training manual that is the product of over four years of teaching Argus at leading universities and corporations. It is the only manual of its kind that covers both the software and the important related financial issues.

The Excel class is a one day crash course in using Excel for real estate investment and finance. It assumes minimal knowledge about Excel and shows attendees how to build financial models that include various bells and whistles including the impacts of leverage, taxation, and how to structure partnerships. Partnerships are one of the most complex pieces of building a financial model, and the class spends significant time hammering those issues out.

The schedule is:

Argus, Los Angeles, July 15th and 16th Argus, New York, August 5th and 6th Argus, New York, September 9th and 10th Argus, Boston, September 16th and 17th Argus, Chicago, To Be Determined… Will be in late August... Excel, New York, July 8th

All classes are taught by Joshua Kahr, Principal of Kahr Real Estate Services. They run all day from 9:00 am to 5:00 pm. The Argus classes run on Saturday and Sunday, and the Excel classes run on Saturday only.

The fee is $595 for the Argus class and $350 for the Excel class. If 3 or more people from your organization sign up, please contact us in advance and you will receive a 15% discount off the total fee.

To sign up for an Argus class or read more, go to: http://www.kahrrealestate.com/argustraining.shtml

To sign up for an Excel class or read more, go to: http://www.kahrrealestate.com/exceltraining.shtml

If you're interested in customized on-location training, contact Joshua Kahr directly at josh@kahrrealestate.com for more information. ________________________________________ To subscribe to "Kahr Notes", go to http://www.kahrrealestate.com/Publications.shtml. You can also send your e-mail address to josh@kahrrealestate.com with the word "subscribe" in the subject field. Subscriptions are free. ________________________________________

ABOUT THE PUBLISHER:

Kahr Real Estate Services LLC is a consulting company that provides financial training, market and feasibility studies, financial modeling, and portfolio management for the real estate industry. "Kahr Notes" is the company's monthly newsletter.

We welcome story suggestions, quotations from industry events, trend news, and feedback. Submit via e- mail to josh@kahrrealestate.com. We will contact you before using any item.

Kahr Real Estate Services LLC, 139 Fulton Street, Suite 417, New York, NY 10038. Tel: (212) 566-4085; Fax: (646) 365-3211; E-mail: josh@kahrrealestate.com; Web site: http://www.kahrrealestate.com.

Copyright 2006 Kahr Real Estate Services LLC. Material may not be reproduced in whole or in part without the express written permission of the publisher.