REAL 215: Advanced Real Estate Finance and Investments
Citrus College Course Outline of Record
| Heading | Value |
|---|---|
| Effective Term: | Fall 2023 |
| Credits: | 3 |
| Total Contact Hours: | 54 |
| Lecture Hours : | 54 |
| Lab Hours: | 0 |
| Hours Arranged: | 0 |
| Outside of Class Hours: | 108 |
| Transferable to CSU: | Yes |
| Transferable to UC: | No |
| Grading Method: | Standard Letter |
Catalog Course Description
Course Objectives
- independently analyze and assess the most appropriate loan from among the variety of sources available
- the economic analysis of cities, and touches on a broad range of topics, such as housing, transportation, land use, the cost and benefit of cities and urbanization
- apply principles to qualify the borrower when purchasing real estate
- understand the economics of real estate development and investment
Major Course Content
PART ONE: Overview of Real Estate Finance and Investments
Chapter 1: Real Estate Investment: Basic Legal Concepts
Chapter 2: Real Estate Financing: Notes and Mortgages
PART TWO: Mortgage Loans
Chapter 3: Mortgage Loan Foundations: The Time Value of Money
Chapter 4: Fixed Interest Rate Mortgage Loans
Chapter 5: Adjustable and Floating Rate Mortgage Loans
Chapter 6: Mortgages: Additional Concepts, Analysis, and Applications
PART THREE: Residential Housing
Chapter 7: Single-Family Housing: Pricing, Investment, and Tax Considerations
Chapter 8: Underwriting and Financing Residential Properties
PART FOUR: Income-Producing Properties
Chapter 9: Income-Producing Properties: Leases, Rents, and the Market for Space
Chapter 10: Valuation of Income Properties: Appraisal and the Market for Capital
Chapter 11: Investment Analysis and Taxation of Income Properties
Chapter 12: Financial Leverage and Financing Alternatives
Chapter 13: Risk Analysis
Chapter 14: Disposition and Renovation of Income Properties
Chapter 15: Financing Corporate Real Estate
PART FIVE: Financing Real Estate Development
Chapter 16: Financing Project Development
Chapter 17: Financing Land Development Projects
PART SIX: Alternative Real Estate Financing and Investment Vehicles
Chapter 18: Structuring Real Estate Investments: Organizational Forms and Joint Ventures
Chapter 19: The Secondary Mortgage Market: Pass-Through Securities
Chapter 20: The Secondary Mortgage Market: CMOs, CDOs, CLOs, and Derivative Securities
Chapter 21: Real Estate Investment Trusts (REITs)
PART SEVEN: Portfolio Analysis and Real Estate Funds
Chapter 22: Real Estate Investment Performance and Portfolio Considerations
Chapter 23: Real Estate Funds: Structure, Performance, Benchmarking, Risk and Attribution Analysis
Suggested Reading Other Than Required Textbook
Examples of Required Writing Assignments
Examples of Outside Assignments
Based on the following data, would you recommend buying or renting? Rental Costs: • Annual rent, $7,380 • Insurance, $145 • Security Deposit, $650 • Insurance/maintenance, $1,050 Buying Costs: • Annual mortgage payment, $9,800 ($9,575 is interest) • Property taxes, $1,780 • Down Payment/closing costs, $4500 • Growth in equity, $225 • Estimated annual appreciation, $1,700 Assume an after-tax savings interest rate of 6% and a tax rate of 28 percent.