Real Estate Investment Analysis Course
Earn 9 continuing education credits for real estate licensees

September 5, 2012 8 am - 1 pm  &  September 6, 2012  8 am - 2 pm
Breakfast & Lunch provided to all attendees

Take advantage of this cutting-edge course at the local level, saving you time and travel expense while strengthening your professional skills!

Real Estate Investment Analysis is designed to provide entry-level professionals with the technical skills necessary to analyze the financial feasibility of real estate investment opportunities. Valuation techniques(direct capitalization and discounted cash flow analysis) are introduced first, followed by an examinationof debt financing’s impact on real estate investments. A case study is to be provided for group work.

Learning Objectives:

Real Estate Valuation Using Direct Capitalization – developing an operating statement and net operating income; introduction to and examination of capitalization rates

Real Estate Valuation Using Discount Cash Flow Analysis - estimating cash flows from operations over a holding period; use of terminal capitalization rate; definition and calculation of net present value and unlevered internal rate of return.

Introduction to Debt Financing - identifying sources of commercial mortgage financing; examination of the relationship between leverage and risk; calculation of loan payments and loan balance.

Levered Real Estate Investments - incorporating debt financing into a pro forma; discussion of positive leverage; estimation of an appropriate levered discount rate using a leverage ratio.

*Effective 12/15/2008 all real estate licensees must complete 18 hours of continuing education in each biennium through six approved 3-hour courses. Courses 1-4 and two elective courses are required.  This course is a substitute for Courses 1, 2 and 4.

Instructor:  Greg Walz, Northwestern Mutual, Investment Management Company

Greg Walz is a Managing Director at NM. He has been in commercial real estate for over 36 years and has been involved in transactions totaling $4 billion over the past 5 years. He has taught at UW Milwaukee and has been a guest lecturer at the University of Georgia, Georgia Tech, University of Florida, Clemson University and Vanderbilt University. He is on the Board of Directors for NAIOP Corporate and the Wisconsin Chapter.