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In this course, you will learn:
- Build a toolkit of professional-grade real estate analysis techniques that will help you evaluate investment opportunities, portfolios, and returns.
- The analysis is the number one skill you need to master to succeed in the competitive and ever-changing field of real estate.
Syllabus:
- Introduction
1. Case Study #1: Follow-Along Analysis
- Case study #1 overview
- Why investment analysis?
- Market research, part 1
- Market research, part 2
- Back of the envelope analysis
- The rest of the course
2. Foundations: Investment Process
- Investment process overview
- Originations
- Analysis
- Due diligence
- Financing and closing
- Construction and rehab
- Stabilization
- Summary of the investment process
3. Foundations: Investment Considerations
- Investment considerations overview
- External considerations
- Property considerations
- Deal considerations
- Other considerations
- Investment considerations summary
4. Foundations: Three Primary Investment Strategies
- Investment strategies overview
- Core investment strategy
- Opportunistic investment strategy
- Value-added investment strategy
- Investment strategies summary
5. Foundations: How to Measure Returns
- Intro to measures of returns
- Discounted cash flow and the net present value (NPV)
- Discount rate
- Net present value exercise
- Internal rate of return
- Internal rate of return exercise
- Cash multiple
- Which measure to use?
- Which measure to use? Part 2
- The terminal value
- Yields and cap rates
- Summary of measures of return
6. Foundations: The Impact of Debt on Return
- What is debt leverage?
- Interest-only vs. amortized loans
- The amortization calculator
- How debt impacts investment returns
- Impact of debt summary
7. Case Study #2: Advanced Rental Property Analysis
- Intro to case studies
- Single unit rental overview
- Single unit rental key considerations
- Single unit rental analysis, part 1
- Single unit rental analysis, part 2
8. Case Study #3: Advanced Fix and Flip Analysis
- Single fix and flip overview
- Single fix and flip key considerations
- Single fix and flip analysis, part 1
- Single fix and flip analysis, part 2
9. Case Study #4: Multifamily Analysis
- Multifamily example overview
- Multifamily key considerations
- Multifamily example 1: Fourplex apartment
- Multifamily example 2: 196-unit apartment complex
10. Case Study #5: Multiple Properties Portfolio Analysis
- Multiple properties example overview
- Multiple properties key considerations
- Multiple properties example
