The Mechanics of Real Estate Finance

Course Structure

The course takes place over 20 weeks and comprises 10 core units. The units will be released every two weeks from the start of the course. Download the units or study completely online.

Assessment and Post Graduate Certification

At the end of each unit there is an assessment that will allow you to benchmark your growth in knowledge and understanding. For those wishing to receive a Post Graduate Certificate from Middlesex University, an additional marked assignment of 5000 words will also need to be submitted. The assignment will be based on an on-going case study that runs throughout the duration of the course.

Syllabus modules

Unit 1 - An Introduction to Real Estate Investment & Development

Unit 1 shows how real estate markets evolved and the recent history of real estate markets worldwide. Participants will learn to manipulate the building blocks of real estate financial analysis and gain knowledge of the range of data from all sources that support real estate analysis

Unit 2 - Real Estate Finance

Unit 2 shows how real estate companies analyse cashflows, investments, and sales and demonstrates the value drivers for different types of real estate financial evaluation. Participants work through numerous financial calculations of real estate development and investment

Unit 3 - Real Estate Valuation

Unit 3 covers the technical skills required in real estate valuation and how to implement valuation techniques of all kinds to a range of land, commercial and residential real estate examples. Participants assess real estate valuation reports, their accuracy and significance in real estate development and investment

Unit 4 - Real Estate Investment Structure & Method

Unit 4 provides the level of legal understanding of real estate appropriate for a developer or investor. It compares laws and regulations regarding real estate across a wide range of jurisdictions. Participants develop a detailed understanding of the contracts that form crucial elements of real estate development investment, especially construction, lease, insurance, and consultancy contracts

Unit 5 - Indirect Real Estate Investment

Via unit 5, participants know and understand the global REITs market including its legal, regulatory, market and economic aspects. They can develop, manage and compare hypothetical real estate portfolios, assessing their performance and liquidity

Unit 6 - Real Estate Development 1

Unit 6 demonstrates how to run a market analysis in a range of different jurisdictions, including traffic analysis and forecasting. It helps to analyse the growing role of land prices, land banking and forecasting of land use in real estate development. Participants will learn how to evaluate and conduct a Highest and Best Use (HBU) analysis

Unit 7 - Real Estate Development 2

I n Unit 7, participants analyse numerous feasibility studies for real estate development and investment. They produce and compare real estate checklists for development and develop an understanding of relevant legal and regulatory issues for real estate development. The unit includes guided assignments in real estate development project management, working through crisis management and relationships with consultants

Unit 8 - Real Estate Modelling

Unit 8 looks at how Excel can be used for real estate model construction and modelling - and evaluates the benefits of alternatives to Excel in ready-made financial modelling software. It analyses and evaluates a range of real estate models across different sectors, showing the complex aspects of building a reliable model, including uncertainty, currency and timescale mismatches, debt amortisation, depreciation, control account waterfall, cost structures, and the ability to manage time scales

Unit 9 - Real Estate Sales & Marketing

Unit 9 evaluates marketing material related to real estate marketing, encouraging the critical and creative thinking to formulate and justify appropriate recommendations and/or solutions to a complex property-related marketing problem. It teaches effective communication skills in written and oral reporting and teaches how to sell different types of real estate to a wide range of customers

Unit 10 - Risk Management in Real Estate

Unit 10 evaluates the relative significance of a range of different risks facing real estate developers and investors internationally across a range of real estate investment sectors including residential, office, retail, industrial and leisure. It develops the ability to present a strategic risk report for all types of real estate development and investment