ASM600 - Investment Real Estate Financing and Valuation

Learn to produce higher revenue for your portfolio despite fluctuations in the financial and real estate markets.

This 5 day course features in-depth discussions and hands-on application of concepts used to perform multiple cash flow analyses. Students learn to utilize financial tools to help build value and produce higher revenue for business holdings. On the final day of the course, students will apply their new knowledge to real-world investment scenerios.

This course meets program requirements for the CPM® and CRF designation.
Please note: taking FIN402, ASM600, and MPSAXM in consecutive order is strongly recommended.

Currently, REIC is offering its courses via virtual (real-time remote), home study, or online through the University of Fredericton. Please refer to the upcoming class schedule for full details regarding the delivery options available.

Upcoming ASM600 Dates

If no upcoming dates are listed, please check back often for course additions.

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Course Content

Part One

Economics of Real Estate Investment

• Owner's goals and objectives
• ​​Macroeconomic effects on real estate
• Business and real estate cycles

Sources of Financing

• Various sources of real estate financing
• Lender evaluation methods
• Loan package components

Loan Calculation

• Different types of loans
• Debt service calculation
• Interest rates

Loan Analysis

• Loan-to-value
• Debt coverage ratio
• Leverage applications

Property Valuation and Capitalization Rates

• Appraisal methods
• Equity residual model
• Capitalization rate calculations
• Mortgage equity analysis

Part Two

The Time Value of Money

• Owner's goals and objectives
• Time value of money (TVM) components
• TVM applications

Discounted Cash Flow, Valuation, and Investment Return

• Discounted cash flow (DCF) analysis vs. capitalization
• Different measures of investment return
• Market value calculation
• Investment value calculation

Mid-stream Analysis

• Reasons for conducting a mid-stream analysis
• Mid-stream analysis calculations

Discounted Cash Flow and Lease

• Financial impact of lease concessions
• Lease proposal comparisons using DCF analysis

Part Three

Taxation

• Overview of taxation and its impact on real estate investing

Practical Applications and Analysis of Case Studies

• Highest and best use for a property
• Evaluation of property alternatives
• Owner’s goals and objectives​​
• Property performance measurements based on cash flow analysis

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