THE REAL ESTATE DEBT INVESTOR - COMPANION FILES
julianrsterling.com/redebt

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Revised 23 September 2026.

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WHAT IS IN THE ARCHIVE

1. The book's workbook, corrected
   The_Return_the_Lender_Earns.xlsx        Chapter 7 and Appendix G
   00_START_HERE.md                        what changed is at the end

2. Blank_Model_Set/  (new)
   The_Return_the_Lender_Earns_Blank.xlsx  the same model, every input emptied,
                                           for your own two loans
   Sizing_And_Exit_Test_Blank.xlsx         Chapters 5, 8 and 18: the five
                                           metrics, the loan each limit allows,
                                           the exit test on every metric, the
                                           downside and the break-even
   Each checks sheet counts what is still missing and tests what holds for any
   inputs. The book's figures are in book_inputs.txt.

3. Working_Documents.pdf  (new)
   Thirteen printable pages: the thirty-minute screen, the income and the
   three values, the sponsor, sizing and the exit test, structure and the
   intercreditor, the credit paper and the five questions, the term sheet
   skeleton, the facility agreement and the mark-up, the development drawdown
   test, quarterly monitoring, hedging and the maturity eighteen months out,
   the workout and the recovery, and the loan book with investor reporting.
   A4, fits Letter.

4. Forty_Questions.xlsx  (new)
   Forty questions across the book, marked by the file as you type.

5. Cases/  (new)
   Case_1_Can_We_Finish_It_Without_Them.xlsx     Chapter 11
   Case_2_The_Swap_That_Ranks_Beside_You.xlsx    Chapter 14
   Case_3_The_Provision_Nobody_Sized.xlsx        Chapter 15
   Each case: the note on the first sheet, the model after it, checks at the end.

The files open in Excel, LibreOffice Calc, Google Sheets and Numbers. No macros.
