NAIOP's Online Finance Fundamentals Course
NAIOP's new Online Finance Fundamentals Course provides you with the basic skills necessary to analyze the financial feasibility of real estate investment - without even leaving your office! The Online Finance Fundamentals Course guides participants through a step-by-step approach for completing a financial feasibility analysis via a series of eight live Webinars and offline homework.
Throughout this convenient, online course, you'll also examine real estate market participants, the development of operating statements and valuation fundamentals, the determinates of real estate returns, the impact of leverage on real estate investments, sources of market data and interactions between the real estate market and the capital market.
The eight-week course is presented in live two-hour Web sessions. Some of the key course topics and learning objectives include:
- Defining "space markets" and "capital markets"
- Identifying the four quadrants of the capital market
- Developing an operating statement
- Understanding capitalization rates
- Differentiating capitalization rates from total yield
- Defining and calculating net present value (NPV)
- Defining and calculating unlevered internal rate of return (IRR)
- Differentiating between gross leases and net leases
- Incorporating tenant reimbursements into the operating statement
- Identifying the factors that cause capitalization rates and discount rates to change over time
- Identifying sources of discount rate and capitalization rate data
- Examining the relationship between leverage and risk
- Calculating loan payments and loan balance
- Incorporating debt financing into a proforma
- Estimating an appropriate levered discount rate using a leverage ratio
- Introducing key financial ratios including LTV, DCR and BER
- Examine the impact of prepayment on lender's yield and effective borrowing costs (EBC)
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