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Establishment
Language of instruction
English
Teaching content
FINANCE
Training officer(s)
P.Newsom
Stakeholder(s)
P.Newsom
Présentation
Prerequisite
Students need to have a fundamental understanding of accounting and finance. Students need to be able to use Excel, or a similar spreadsheet program, and be able to apply time value of money concepts (e.g. discounting, efffective interest rates, and annuities) and techniques (e.g., net present value and internal rate of return).
Goal
The overall goal of this course is for students to understand and solve real-world real estate investment problems that managers and firms routinely solve. Achieving this goal requires students to do much work. Experience shows that the average student should be spending 2-3 hours on this course outside of class each day. Consistent with the overall goal stated above, course objectives include:
1. Valuation Using Sales Comparison and Cost Approaches
2. Valuation Using the Income Approach
3. Investment Decisions: Ratios
4. Investment Decisions: NPV, IRR and other discounted cash flow methods
5. Real Estate Value and International Income Taxation
1. Valuation Using Sales Comparison and Cost Approaches
2. Valuation Using the Income Approach
3. Investment Decisions: Ratios
4. Investment Decisions: NPV, IRR and other discounted cash flow methods
5. Real Estate Value and International Income Taxation
Presentation
This course explores the economies of real estate, real estate value, rights in real property and their transfer, and policies relating to real property. Topics to be covered include real estate valuation using the sales comparison, cost, income, and after-tax discounted cash flow methods as well as real estate markets, legal and regulatory determinants of value, and government controls.
This course provides a strong foundation that is needed to understand more advanced topics in real estate investing. It also provides a general knowledge base of real estate investing and real estate markets. This course is designed to be beneficial to students wanting to become familiar with real estate investing in preparation for productive careers after graduating. The main purpose of this course is to provide information, knowledge, and skills that will result in making value enhancing real estate investment decisions.
This course provides a strong foundation that is needed to understand more advanced topics in real estate investing. It also provides a general knowledge base of real estate investing and real estate markets. This course is designed to be beneficial to students wanting to become familiar with real estate investing in preparation for productive careers after graduating. The main purpose of this course is to provide information, knowledge, and skills that will result in making value enhancing real estate investment decisions.
Modalités
Organization
| Type | Amount of time | Comment | |
|---|---|---|---|
| Présentiel | |||
| Cours magistral | 16,00 | ||
| Travaux dirigés | 4,00 | ||
| Autoformation | |||
| Lecture du manuel de référence | 4,00 | ||
| E-Learning | 2,00 | ||
| Travail personnel | |||
| Individual Project | 6,00 | ||
| Charge de travail personnel indicative | 8,00 | ||
| Overall student workload | 40,00 | ||
Evaluation
Assessment includes daily quizzes that are taken in class (30% of grade), case studies performed on Argus Software (20% of grade), final exam on Friday (30% of grade), and class participation and attendance (20% of grade).
| Control type | Duration | Amount | Weighting |
|---|---|---|---|
| Contrôle continu | |||
| QCM | 1,00 | 3 | 30,00 |
| Participation | 3,00 | 4 | 20,00 |
| Autres | |||
| Etude de cas | 1,00 | 3 | 20,00 |
| Examen (final) | |||
| Examen écrit | 2,00 | 1 | 30,00 |
| TOTAL | 100,00 | ||
Ressources
Bibliography
Real Estate Finance and Investments, by Brueggeman and Fisher (ISBN: 978-0-07-337735-3 - Real Estate Finance and Investments, by Brueggeman and Fisher (ISBN: 978-0-07-337735-3
Real Estate Principles A Value Approach, by Ling and Archer (ISBN: 978-0-07-783636-8) - Real Estate Principles A Value Approach, by Ling and Archer (ISBN: 978-0-07-783636-8)
Investing in Real Estate by Gary W. Eldred (ISBN: 978-1-118-17297) - Investing in Real Estate by Gary W. Eldred (ISBN: 978-1-118-17297)
Mastering Real Estate Investment: Examples, Metrics, and Case Studies by Frank Gallinelli (ISBN: 0-9818138-0-1) - Mastering Real Estate Investment: Examples, Metrics, and Case Studies by Frank Gallinelli (ISBN: 0-9818138-0-1)
https://www.realestate.bnpparibas.com/bnppre/en/real-estate-investment/investing-europe/business-lines-p_1596913.html - -
http://www.cushmanwakefield.co.uk/en-gb/news/2017/01/european-real-estate-investment-to-stay-strong-through-2017-despite-political-volatility/ - -
Real Estate Principles A Value Approach, by Ling and Archer (ISBN: 978-0-07-783636-8) - Real Estate Principles A Value Approach, by Ling and Archer (ISBN: 978-0-07-783636-8)
Investing in Real Estate by Gary W. Eldred (ISBN: 978-1-118-17297) - Investing in Real Estate by Gary W. Eldred (ISBN: 978-1-118-17297)
Mastering Real Estate Investment: Examples, Metrics, and Case Studies by Frank Gallinelli (ISBN: 0-9818138-0-1) - Mastering Real Estate Investment: Examples, Metrics, and Case Studies by Frank Gallinelli (ISBN: 0-9818138-0-1)
https://www.realestate.bnpparibas.com/bnppre/en/real-estate-investment/investing-europe/business-lines-p_1596913.html - -
http://www.cushmanwakefield.co.uk/en-gb/news/2017/01/european-real-estate-investment-to-stay-strong-through-2017-despite-political-volatility/ - -