ASM600 - Asset Management (ASM603, ASM604, & ASM605)

The Asset Management course is comprised of skill-based courses that, when taken in sequence, progressively builds your knowledge of financing and valuation of real estate assets. You’ll work hands-on to explore various models of financial analysis in three applications-based courses designed to help you capitalize on your real estate assets. Students will find the tools they learn here indispensable to the properties and the portfolios they manage.

This 4 day course includes:

• Financing and Loan Analysis for Investment Real Estate (ASM603)
• Performance and Valuation of Investment Real Estate (ASM604)
• Asset Analysis of Investment Real Estate (ASM605)

​This course meets program requirements for the CPM® and CRF designation.
Please note: taking FIN402, ASM603, ASM604, ASM605, and MPSAXM in consecutive order is strongly recommended.

REIC offers this course virtually and in-person. 

Upcoming ASM600 Dates

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

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

Course Fees

VIRTUAL SESSION

IN-PERSON SESSION - Includes lunch daily

$2785 plus tax

$2885 plus tax

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