JAN 048 - Real Estate Economics, Capital Markets, Investments, Finance and Development
MTuWTh, 6:00pm - 8:35pm
This course will focus on daily responsibilities of real estate research director, acquisition and development director, sales and brokerage agents, the selling-buying-development processes of real property from listing to closing escrow (title). Ethical responsibilities of owning and operating a real estate business. And approaching real estate from a global perspective. Topics include real estate economic analysis (micro-economics), cycle theory, and efficient market theory; yield curves and term structure of interest rates, discount rate determination, Present Value, Net Present Value, Internal Rate of Return, Break-Even Analysis; risk and return analysis for stocks, bonds and cash equivalents; Modern and Post-Modern Real Estate Portfolio Theory (MREPT/PMREPT); Capital-Arbitrage Asset Pricing Models (CAPM/APT); Commercial and Residential Mortgage-Backed Securities (bond) market analysis and pricing; effects of taxes (Recapture, Capital Gains, 1031 Exchange, etc.); effect of inflation on investment cash-flows (leases) and terminal values (CapX) on returns; and development of real property indices and application of property derivatives for asset-liability analysis and management.
Instructor(s): Lawrence Souza
Prerequisites & Notes
Course Fee: 10
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