“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER 100 200 300 400 500 DefinitionsAnalyticalNumericalMiscellaneousPotpourri.

Slides:



Advertisements
Similar presentations
Chapter 6 Office & Industrial Property. Major Topics Real Estate Principles for the New Economy: Norman G. Miller and David M. Geltner Office Property.
Advertisements

Chapter 2 What drives Real Estate Markets?
Financing Residential Real Estate Lesson 1: Finance and Investment.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 5 Residential Market Analysis.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 18 Real Estate Finance Tools: Present Value and Mortgage Mathematics.
Topic 4 Financing Strategies. Topic 4: Financing Strategies Learning Objectives – (a) Analyze the various sources of borrowing available to a client and.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 15 Valuation Analysis: Income Discounting, Cap Rates and DCF.
INVESTMENT DECISION MAKING LEARNING OBJECTIVES Identify the basic types and characteristics of investment properties. Forecast annual cash flows, net of.
CHAPTER TWELVE FINANCIAL LEVERAGE AND FINANCING ALTERNATIVES.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 14 Cash Flow Analysis.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalFormulaeAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 16 Risk Analysis, Leverage and Due Diligence.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsPotpourriNumericalARMsMiscellaneous.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousPotpourri.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER QuantitativeAnalyticalNumericalMiscellaneous.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER PotpourriAnalyticalNumericalMiscellaneousAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalFormulaeMiscellaneousCost.
Financial Statement Analysis
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 19 Residential Real Estate Finance: Mortgage Choices, Pricing.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 11 Introduction to Investment Concepts.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 20 Commercial Real Estate Finance.
Chapter 3 Finance Theory and Real Estate © OnCourse Learning.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Chapter 17 An Introduction to the Process of Real Estate Finance.
© OnCourse Learning Chapter 27 : Investing in Real Estate.
Chapter 12: Financial Leverage and Financing Alternatives McGraw-Hill/Irwin Copyright © 2011 by the McGraw-Hill Companies, Inc. All rights reserved.
“How Well Am I Doing?” Financial Statement Analysis
© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved McGraw-Hill/Irwin Slide 1 CHAPTER TWELVE FINANCIAL LEVERAGE AND FINANCING ALTERNATIVES.
StoneBridge Real Estate Development & Investments O’Connor & Associates Industrial Forecast Event September 23, 2009.
Multi-Period Analysis Present Value Mathematics. Real Estate Values Set by Cash Flows at different points in time. Single period Analysis revisited 
The subprime crisis and the credit crunch MK, Unit 14.
Business Analysis Types of Business Analysis  Credit Analysis  Equity Analysis  Business Environment and strategy Analysis  Financial Analysis  Prospective.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical.
©2014 OnCourse Learning. All Rights Reserved. CHAPTER 13 Chapter 13 Use of Debt in Real Estate Investment: The Effect of Leverage SLIDE 1.
1 Ch 14 Property Investment Analysis Capital Budgeting Techniques Applied to Investments In Land And Buildings.
Chapter 1 Introduction to the Real Estate Industry “Real Estate Principles for the New Economy” By Norman G. Miller and David M. Geltner.
Financial Ratios Clicker Quiz. What is this ratio? Market Price Per Share Earnings Per Share A. Inventory Turnover B. Accounts Receivable Turnover C.
© 2005 The McGraw-Hill Companies, Inc., All Rights Reserved McGraw-Hill/Irwin Slide 1 CHAPTER TWELVE FINANCIAL LEVERAGE AND FINANCING ALTERNATIVES.
© 2010 by Cengage Learning Chapter 27/ Chapter 25 ________________ Investing in Real Estate.
Financial Statement Analysis. Limitations of Financial Statement Analysis Differences in accounting methods between companies sometimes make comparisons.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical.
Andrew Baum and David Hartzell, Global Property Investment, 2011 Asset appraisal.
The Effects of Risk As we know, the cap rate relation is given by: R = NOI/V This relation is also the total return relation when an investor buys an income.
Real Estate QUIZMASTER
Chapter 18: Risk Analysis. Introduction to Risk Analysis  Risk is the probability that events will not occur as expected.  Actual return may differ.
Real Estate QUIZMASTER By Norm Miller and Richard Green
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousAcronyms.
Investing in Real Estate ADVANTAGES Pride of Ownership Personal Control Self Use Competitive Returns Safety of Capital Cash Flow Leverage Tax Benefits.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalThe.
Chapter 12 Financial Leverage and Debt Structure.
Chapter 14 © The McGraw-Hill Companies, Inc., 2007 McGraw-Hill /Irwin “How Well Am I Doing?” Financial Statement Analysis.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumerical.
Refinancing decisions Real Estate Finance, February XX, 2016.
Real Estate Finance Residential decision making: Buy or lease?
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalPotpourriMiscellaneousAcronyms.
“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalFormulaeMiscellaneousAcronyms.
Unit 5 and 6 Financial Markets, Consumer/Personal Finance, Economic Indicators and Measurements.
Overview of Real Estate Financing Ashesi University Lecture
Lecture 15 Commercial Financing.
Real Estate Finance, Spring, 2017
Phase 2 Exam Chapters Fall 2015
Real Estate Principles, 11th Edition
Phase 2 Exam Chapters Fall 2017
Real Estate Finance, Spring, 2018
Introduction to Property Investment
Chapter 27/ Chapter 25 ________________ Investing in Real Estate
© OnCourse Learning.
Presentation transcript:

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousPotpourri

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Real Estate QUIZMASTER DefinitionsAnalyticalNumericalMiscellaneousPotpourri

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 100 A _____ return for the property than the cost of the mortgage results in “positive leverage”

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 200 The proportion of debt financing used to purchase a property

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 300 A constant return to debt is called “_______” debt

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 400 The difference between the equity return and the debt return is called the _______

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Definitions for 500 “_______ Risk” arises from the possibility of the borrower defaulting on their loan obligations and ultimately losing the property to the lender through foreclosure

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 100 Leverage involves allocating the lowest risk portion of the underlying property’s returns to the ______ holder, so the equity holder is left with the higher risk portion of the returns

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 200 The most controllable risk category is ______

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Capital Structure refers to the relative proportion of ____ and debt in the real estate investment Analytical for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Underlying _______ risk is magnified by a factor equal to the leverage ratio Analytical for 400

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Analytical for 500 A plot between the Expected Total Return and the Leverage Ratio results in the _____ Line

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The _____ phase of the classic real estate cycle sees increasing rents and increasing construction Potpourri for 100

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Potpourri for 200 In the _____ phase in the classic real estate cycle, rental growth slows or stops while construction continues

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner In the ____ phase of the classic real estate cycle, rents decline and construction stops Potpourri for 300

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Potpourri for 400 ______ risks relate to the ability to convert an asset to cash while preserving capital

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner The _____ phase of the classic real estate cycle sees declining vacancy, little construction and increasing rents Potpourri for 500

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 100 If the expected total return on an investment is 10% and the Risk Free Rate is 7%, then the ____ is 3%

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 200 A property purchased with $600,000 of equity investment and $1,200,000 of loan will have a leverage ratio of _____

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 300 When LTV=0.75 the LR=_____

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Numerical for 400 When LR=2 then the loan value will be ____________ equity value

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner DAILY DOUBLE

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Daily Double Numerical for 500 When the LR=1, the Loan Value = ___

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 100 ______ trends involve a study of population and household size growth rates

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 200 If the debt is “_____” the lender stands to lose all or part of the return in case of default

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 300 The study of parking access in the subject property area falls under an analysis of this trend

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 400 Higher the leverage, the ____ will be standard deviation of the investment return of equity investor

“Real Estate Principles for the New Economy”: Norman G. Miller and David M. Geltner Miscellaneous for 500 _______ trends involve a study of employer and industry trends and regional competitiveness