Basic Real Estate Finance Online Course

Payment for a NAIOP Online Course entitles access for one person only to the course and all materials.

Note: All times noted are Eastern Time.

Thursday, September 13
Noon - 2 p.m.
Introduction to Space Markets and Capital Markets
This session focuses on the relationship between the space market and the capital market, which will be used as a framework for the entire course. We'll also discuss why real estate is a unique asset class and identify major property types and classifications along with key real estate investors. In addition, this session will introduce the four quadrants of the capital market, discuss investment strategies and examine historic real estate returns.

Thursday, September 20
Noon - 2 p.m.
Real Estate Valuation Using Direct Capitalization
This section will focus on the basic structure of a real estate operating statement and how capitalization rates are used in conjunction with the operating statement to derive an estimate of value.

Thursday, September 27, 2012
Noon - 2 p.m.
Real Estate Valuation Using Discounted Cash Flow Analysis
In this section, we will differentiate discounted cash flow analysis from direct capitalization when the technique is presented to provide students with a clear understanding of the relationship between the two approaches to valuation.

Thursday, October 4
Noon - 2 p.m.
Real Estate Leases
This section will cover the legal aspects of real estate leases and focus on how each type of lease structure influences cash flow/value.

Thursday, October 11
Noon - 2 p.m.
Determinants of Real Estate Returns
Capitalization rates and discount rates will be broken down into their component parts to help students estimate potential changes in the rates over time.

Thursday, October 18
Noon - 2 p.m.
Introduction to Debt Financing
This session will emphasize mortgage terminology and basic skills such as calculating mortgage payments and balances in this module. We'll also discuss the relationship between leverage and investment risk.

Thursday, November 1
Noon - 2 p.m.
Levered Real Estate Investments
Leverage is incorporated into the reconstructed operating statement in this section to analyze the financial performance of a real estate investment.

Thursday, November 8
Noon - 2 p.m.
Analyzing Debt Financing Options
We'll discuss the skills necessary to estimate the maximum loan amount a property will support and to choose between financing options with different terms.