Investment Fundamentals
- Real Estate as an Asset Class
- Characteristics of real estate investments
- Comparison with other asset classes
- Role of real estate in portfolio diversification
- Investment Objectives
- Income generation and capital appreciation
- Risk tolerance and investment horizons
- Investor profiles and strategies
- Market Cycles
- Understanding real estate cycles
- Timing and market entry considerations
- Cyclical indicators and market signals
Financial Metrics
- Income Metrics
- Gross and net rental income
- Net operating income calculation
- Effective gross income analysis
- Return Metrics
- Capitalization rate fundamentals
- Cash-on-cash return calculation
- Internal rate of return basics
- Valuation Metrics
- Price per square meter analysis
- Gross rent multiplier
- Comparable transaction analysis
Investment Structures
- Direct Investment
- Sole ownership considerations
- Joint ventures and partnerships
- Advantages and limitations
- Indirect Investment
- Real estate investment trusts
- Real estate funds
- Listed versus unlisted vehicles
- Financing Structures
- Debt and equity components
- Leverage fundamentals
- Loan-to-value considerations
Risk-Return Analysis
- Risk Categories
- Market and economic risks
- Property-specific risks
- Financing and liquidity risks
- Risk Assessment
- Qualitative risk evaluation
- Quantitative risk measures
- Risk mitigation strategies
- Return Expectations
- Risk-adjusted returns
- Benchmark comparisons
- Performance attribution basics
Due Diligence
- Property Due Diligence
- Physical inspection requirements
- Title and legal verification
- Environmental considerations
- Financial Due Diligence
- Income and expense verification
- Lease review and tenant analysis
- Historical performance assessment
- Market Due Diligence
- Location and accessibility analysis
- Competitive property assessment
- Supply and demand evaluation
