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Home All Courses CREFM Certified Real Estate Financial Modeller 
4.8

CREFM Certified Real Estate Financial Modeller 

1 alternative location(s) available

Course Overview

The recent turmoil in world financial markets, which has been closely tied to events in the real estate market, suggests that investors, lenders, and others who participate in the real estate market need to better understand how to evaluate the risk and return associated with the various ways of investing and financing commercial and residential real estate.

The course is designed not only to help delegates understand the characteristics of the various vehicles for lending and investing in real estate, recognize the valuation techniques practically utilized in the valuation of properties, comprehend the full picture of risk-return analysis in the real estate market, but also to model these concepts in best-practice Excel models. This is the only way to make sure that delegates can apply these concepts professionally and to avoid costly mistakes.

Concepts and techniques included in this 5-days intensive program course are used in many careers related to real estate. These include investing, development financing, appraising, consulting, managing real estate portfolios, leasing, managing property, and managing corporate real estate. This material is also relevant to individuals who want to better understand real estate for their own personal investment and financing decisions.

1 alternative location(s) available

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5 Key Takeaways

1

Learn how to create a valuation framework for analyzing the financial performance of commercial and investment real estate.

Learn how to build your own risk analysis and development cost monitor within your models.

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3

Evaluate the outcome of different valuation techniques and recognize the cost of capital for real estate and implement discounted cash flow techniques.

Learn the methods of practical application of valuation models in investment analysis.

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Understand the most widely-practiced property income valuation techniques and be able to critically analyses a real estate investment proposal.

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See What’s Inside Our 2020 Catalog

Course Outline

DAY ONE

Real Estate Investment: Basic Concepts

  • Two General Classifications of Estates

  • Estates Not Yet in Possession (Future Estates)

  • Examples of Leasehold Estates

  • Interests, Encumbrances, and Easements

  • Methods of Title Assurance

  • Abstract and Opinion Method

  • The Title Insurance Method

  • Limitations on Property Rights

  • Notes and mortgages

  • Seller financing

  • Reconstructing a mortgage loan

Important mathematics in real estate

  • Compound Interest

  • Compound or Future Value

  • Yields on Investment Annuities

  • Calculating Compound Interest Factors

  • Equivalent Nominal Annual Rate (ENAR): Extensions

  • Solving for Annual Yields with Partial Periods: An Extension

  • Present Value 

  • A Graphic Illustration of Present Value

Residential housing projects - Single Family Housing: Pricing, Investment, and Tax Considerations

  • Overview

  • House Prices

  • Income and Employment

  • Renting versus Owning

  • Analysing expected house prices

  • Economic Base Analysis—Location Quotients

  • Capitalization Effects: Price Premiums

  • Investing in “Distressed Properties”

  • Financial Framework for Analysing Distressed Properties

DAY TWO

Residential housing projects - Underwriting and Financing Residential Properties

  • Underwriting Default Risk

  • Classification of Mortgage Loans

  • Conventional Mortgage Loans

  • Insured Conventional Mortgage Loans

  • FHA Insured Mortgage Loans

  • VA Guaranteed Mortgage Loans

  • The Closing Process

  • Fees and Expenses

  • Prorations, Escrow Costs, and Payments to Third Parties

  • Establishing the APR under Federal Truth-in-Lending Requirements

  • ARMs and Truth-in-Lending Disclosure

Income-Producing Properties: Leases, Rents, and the Market for Space

  • The “Market” for Income-Producing Real Estate

  • Income Potential—Real Estate Assets

  • Vacancy

  • Underwriting Tenants

  • General Contents of Leases

  • Leases and Rental Income

  • CAM Charges—Recoveries

  • Pro Forma Statement of Cash Flow—Retail Properties

Case Example: Apartment Properties

Valuation of Income Properties: Appraisal and the Market for Capital

  • Introduction

  • Valuation Fundamentals

  • Appraisal Process and Approaches to Valuation

  • Sales Comparison Approach

  • Mortgage-Equity Capitalization

  • Reconciliation: Sales Comparison and Income Capitalization Approaches

  • Valuation Case Study—Oakwood Apartments

  • ARGUS SolutionIncome Approach

Investment Analysis and Taxation of Income Properties (when investing in tax-paying countries)

  • Motivations for Investing

  • Real Estate Market Characteristics and Investment Strategies

  • The “Real Estate Cycle”

  • Investment Strategies

  • Market Analysis

  • Supply of Space

  • Market Rents

  • Forecasting Supply, Demand, Market Rents, and Occupancy

  • Making Investments: Projecting Cash Flows

  • Effective Tax Rate

  • A Note about Passive Losses

  • Special Exceptions to PAL Rules

  • Approaches to Metro Area Market Forecasting: Basic Concepts and Data Sources

DAY THREE

EDUCATIONAL PARTNER

IABFM - International Academy of Business and Financial Management

The International Academy of Business and Financial Management™ is one of the world’s fastest growing professional associations with more than 200,000 members, associates and affiliates in 145 countries. IABFM™ hosts and organizes certification training worldwide and offers exclusive board designations to candidates who meet the highest professional standards and assessment criteria. The IABFM is credited by the American National Standards Institute (ANSI) the International Standards setting authority.

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Who Should Attend?

This highly practical and interactive course has been specifically designed for:

  • Real estate managers

  • Planning and development professionals in real estate businesses

  • Property Developers

  • Bankers and lenders

  • Corporate financiers

  • Real Estate Portfolio managers

  • Finance managers and analysts

  • Property owners

  • Hedge fund managers

  • Mortgage brokers

  • Private banking Relationship managers responsible for Real Estate Investments

  • Anyone pursuing career in real estate

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FREQUENTLY ASKED QUESTIONS

Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.

LEORON Institute partners with 20+ international bodies and associations.
We also award continuing professional development credits (CPE/PDUs) for:
1. NASBA (National Association of State Boards of Accountancy)
2. Project Management Institute PDUs
3. CISI credits
4. GARP credits
5. HRCI recertification credits
6. SHRM recertification credits

The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +971 4 447 5711 or [email protected].

The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.

Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.

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