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Real Estate QUIZMASTER. Potpourri. Analytical. Acronyms. Numerical. Miscellaneous. 100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500. 500. Real Estate QUIZMASTER. Potpourri. Analytical. Acronyms.

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slide1

Real Estate QUIZMASTER

Potpourri

Analytical

Acronyms

Numerical

Miscellaneous

100

100

100

100

100

200

200

200

200

200

300

300

300

300

300

400

400

400

400

400

500

500

500

500

500

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

slide2

Real Estate QUIZMASTER

Potpourri

Analytical

Acronyms

Numerical

Miscellaneous

100

100

100

100

100

200

200

200

200

200

300

300

300

300

300

400

400

400

400

400

500

500

500

500

500

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

potpourri for 100
Potpourri for 100
  • This valuation approach is derived from the wealth maximization principle

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

potpourri for 200
Potpourri for 200
  • Shorter economic life results in a _______ cap rate

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

potpourri for 300
Potpourri for 300
  • Cap rates will be _____ when the property expects fast income growth

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

potpourri for 400
Potpourri for 400
  • While using ____ in valuation, it is essential that they should have similar risks and be in a similar geographical submarket

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

potpourri for 500
Potpourri for 500
  • The easiest way to value a property with very little information about its _____ or operating expenses is to use GRM

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

analytical for 100
Analytical for 100
  • NOI / R is the traditional _____ approach to value

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

analytical for 200
Analytical for 200
  • When relevant sales information is not available the _____ can found by “weighed average cost of capital”

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

analytical for 300
Analytical for 300
  • The traditional income approach (NOI/R) presumes that the property has infinite ______ life

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

analytical for 400
Analytical for 400
  • The greater the risk, the ____ will be the cap-rate

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

analytical for 500
Analytical for 500

Investment values are unique to the investor and can be higher or lower than the ____ value

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

acronyms for 100
Acronyms for 100
  • R R R

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

acronyms for 200
Acronyms for 200
  • I R R

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

acronyms for 300
Acronyms for 300
  • P G I

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

slide16

Acronyms for 400

  • D C F

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

acronyms for 500
Acronyms for 500
  • G R M

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

slide18

Numerical for 100

The Cap Rate used to determine a value of $3,000,000 based on an NOI of $300,000 is ____

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

slide19

Numerical for 200

If an office building worth $10 million is being sold by the owner for $9 million, then the seller’s NPV is _____ and the buyer’s NPV is _____

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

slide20

Numerical for 300

  • If the monthly mortgage constant is 0.008, LTV ratio is 0.8 and the investor requires a yield of 20% on his equity, the Cap Rate is _____

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

slide21

Numerical for 400

  • At 7.5% interest per annum and 25 year amortization the monthly mortgage constant will be _______

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

slide22

Numerical for 500

If the LTV is 75%, the before tax cash return is 15% and the monthly mortgage constant is 0.09, then the weighted Cap Rate is ____

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

slide23

Miscellaneous for 100

  • Total Property Value = Mortgage Value +
  • _____ Value

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

slide24

Miscellaneous for 200

Even if the mechanics of the DCF process are carried out correctly, the problem with the analysis may still have fallen into the ____________ mistake

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

slide25

Miscellaneous for 300

  • An investor should become suspicious about the value analysis if A property with substantially _____ NPV has remained unsold for long time

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

slide26

Miscellaneous for 400

  • This valuation approach has similarities to the “benefit-cost” analysis used in public sector

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

slide27

DAILY

DOUBLE

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

slide28

Daily Double Miscellaneous for 500

  • Supportable Mortgage = NOI/DCR/12/??????

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