Exam Preparation
CREFMنموذج مالي عقاري معتمد
التقييم:
الإنجليزي
متوسط
وجهاً لوجه
التدريب في الموقع
تدريب مباشر عن بعد
تدريب
التدريب
والإرشاد
السرعة الذاتية
تدريب
اختر تاريخ
لتحميل الكتيب
نبذة عن الدورة التدريبية
إن الاضطرابات الأخيرة في الأسواق المالية العالمية، والتي ارتبطت ارتباطًا وثيقًا بالأحداث في سوق العقارات، تشير إلى أن المستثمرين والمقرضين، ويحتاج الآخرون الذين يشاركون في سوق العقارات إلى فهم أفضل لكيفية تقييم المخاطر والعائدات المرتبطة بالطرق المختلفة للاستثمار وتمويل العقارات التجارية والسكنية. تم تصميم الدورة ليس فقط لمساعدة المندوبين على فهم خصائص الأدوات المختلفة للإقراض والاستثمار في العقارات، والتعرف على تقنيات التقييم المستخدمة عمليًا في تقييم العقارات، فهم الصورة الكاملة لتحليل المخاطر والعائد في سوق العقارات، ولكن أيضًا لنمذجة هذه المفاهيم في نماذج Excel لأفضل الممارسات. هذه هي الطريقة الوحيدة للتأكد من أن المندوبين يمكنهم تطبيق هذه المفاهيم بشكل احترافي وتجنب الأخطاء المكلفة.
تُستخدم المفاهيم والتقنيات المضمنة في دورة البرنامج المكثف هذه التي تستغرق 5 أيام في العديد من المهن المتعلقة بالعقارات. وتشمل هذه الاستثمارات، وتمويل التنمية، والتقييم، والاستشارات، وإدارة محافظ العقارات، والتأجير، وإدارة الممتلكات، وإدارة العقارات للشركات. هذه المادة ذات صلة أيضًا بالأفراد الذين يرغبون في فهم العقارات بشكل أفضل لاتخاذ قرارات الاستثمار والتمويل الشخصية الخاصة بهم.
سيحصل كل مشارك في هذا الحدث على نسخة من كتاب مدرسي رائد في الاستثمار العقاري. ستقود الدورة المشاركين من أساسيات صناعة العقارات وصولاً إلى الموضوعات المتقدمة للغاية. يتمتع المقدم حامد بهيري بسمعة دولية في إجراء برامج تدريبية عملية ومتعمقة للغاية. وفوق كل ذلك، سيتم تقديم معظم المعرفة من خلال نماذج Excel الفعلية التي يستخدمها كبار المحترفين في هذا السوق.
تُستخدم المفاهيم والتقنيات المضمنة في دورة البرنامج المكثف هذه التي تستغرق 5 أيام في العديد من المهن المتعلقة بالعقارات. وتشمل هذه الاستثمارات، وتمويل التنمية، والتقييم، والاستشارات، وإدارة محافظ العقارات، والتأجير، وإدارة الممتلكات، وإدارة العقارات للشركات. هذه المادة ذات صلة أيضًا بالأفراد الذين يرغبون في فهم العقارات بشكل أفضل لاتخاذ قرارات الاستثمار والتمويل الشخصية الخاصة بهم.
سيحصل كل مشارك في هذا الحدث على نسخة من كتاب مدرسي رائد في الاستثمار العقاري. ستقود الدورة المشاركين من أساسيات صناعة العقارات وصولاً إلى الموضوعات المتقدمة للغاية. يتمتع المقدم حامد بهيري بسمعة دولية في إجراء برامج تدريبية عملية ومتعمقة للغاية. وفوق كل ذلك، سيتم تقديم معظم المعرفة من خلال نماذج Excel الفعلية التي يستخدمها كبار المحترفين في هذا السوق.
المخرجات الرئيسية
1
تعرف على كيفية إنشاء إطار تقييمي لتحليل الأداء المالي للعقارات التجارية والاستثمارية.
2
تعرف على كيفية إنشاء تحليل المخاطر ومراقبة تكاليف التطوير الخاصة بك ضمن نماذجك.
3
تقييم نتائج تقنيات التقييم المختلفة والتعرف على تكلفة رأس المال للعقارات وتنفيذ تقنيات التدفق النقدي المخصوم.
4
تعرف على طرق التطبيق العملي لنماذج التقييم في تحليل الاستثمار.
5
فهم تقنيات تقييم الدخل العقاري الأكثر ممارسة على نطاق واسع والقدرة على تحليل مقترح الاستثمار العقاري بشكل نقدي.
الأكاديمية الدولية لإدارة الأعمال والمالية
"الأكاديمية الدولية لإدارة الأعمال والمالية™ (IABFM) هي جمعية مهنية عالمية تقدم برامج تدريبية للحصول على شهادات في جميع أنحاء العالم. تستضيف وتنظم IABFM™ دورات التطوير المهني وتمنح تعيينات مجلس إدارة حصرية للمرشحين الذين يستوفون بنجاح معاييرها ومعايير التقييم المعمول بها. مع أكثر من 200 ألف عضو ومنتسب في أكثر من 145 دولة، تركز IABFM™ على تطوير المهن في مجال الأعمال والتمويل والإدارة من خلال الشهادات المتخصصة.
محتوى الدورة التدريبية
Part 1
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
→ 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
→ Use of the Present Value of an Annuity Factors
→ Determining Yields, or Internal Rates of Return, on Investments
→ 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
→ Use of the Present Value of an Annuity Factors
→ Determining Yields, or Internal Rates of Return, on Investments
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
→ Acquisition Phase
→ Holding Period Phase
→ Disposition Phase—Exit Strategies
→ Financing residential properties
→ 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
→ Acquisition Phase
→ Holding Period Phase
→ Disposition Phase—Exit Strategies
→ Financing residential properties
Part 2
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 Underwriting Process
→ Borrower Income
→ Verification of Borrower Assets
→ Assessment of Credit History
→ Estimated Housing Expense
→ Other Obligations
→ Compensating Factors
→ The Underwriting Process Illustrated
→ Conventional and Insured Conventional Mortgages
→ FHA Insured Mortgages
→ Guaranteed Mortgages
→ Underwriting and Loan Amounts—A Summary
→ The Closing Process
→ Fees and Expenses
→ Prorations, Escrow Costs, and Payments to Third Parties
→ Statutory Costs
→ Requirements under the Real Estate Settlement and Procedures Act (RESPA)
→ Settlement Costs Illustrated
→ Federal Truth-in-Lending (FTL) Requirements
→ Truth-in-Lending Sample Disclosure
→ Establishing the APR under Federal Truthin-Lending Requirements
→ ARMs and Truth-in-Lending Disclosure
→ Classification of Mortgage Loans
→ Conventional Mortgage Loans
→ Insured Conventional Mortgage Loans
→ FHA Insured Mortgage Loans
→ VA Guaranteed Mortgage Loans
→ The Underwriting Process
→ Borrower Income
→ Verification of Borrower Assets
→ Assessment of Credit History
→ Estimated Housing Expense
→ Other Obligations
→ Compensating Factors
→ The Underwriting Process Illustrated
→ Conventional and Insured Conventional Mortgages
→ FHA Insured Mortgages
→ Guaranteed Mortgages
→ Underwriting and Loan Amounts—A Summary
→ The Closing Process
→ Fees and Expenses
→ Prorations, Escrow Costs, and Payments to Third Parties
→ Statutory Costs
→ Requirements under the Real Estate Settlement and Procedures Act (RESPA)
→ Settlement Costs Illustrated
→ Federal Truth-in-Lending (FTL) Requirements
→ Truth-in-Lending Sample Disclosure
→ Establishing the APR under Federal Truthin-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
→ Leases and Responsibility for Expenses (Recoveries)
→ Comparing Leases: Effective Rent
→ Developing Statements of Operating Cash Flow
Case Example: Office Properties
→ Rent Premiums and Discounts for Office Space
→ Pro Forma Statement of Cash Flow—Office Properties
→ Case Example: Industrial and Warehouse Properties
→ Pro Forma Statement of Cash Flow—Industrial/ Warehouse Properties
→ Case Example: Retail Properties
→ The Retail Leasing Environment
→ CAM Charges—Recoveries
→ Pro Forma Statement of Cash Flow—Retail Properties
Case Example: Apartment Properties
→ Income Potential—Real Estate Assets
→ Vacancy
→ Underwriting Tenants
→ General Contents of Leases
→ Leases and Rental Income
→ Leases and Responsibility for Expenses (Recoveries)
→ Comparing Leases: Effective Rent
→ Developing Statements of Operating Cash Flow
Case Example: Office Properties
→ Rent Premiums and Discounts for Office Space
→ Pro Forma Statement of Cash Flow—Office Properties
→ Case Example: Industrial and Warehouse Properties
→ Pro Forma Statement of Cash Flow—Industrial/ Warehouse Properties
→ Case Example: Retail Properties
→ The Retail Leasing Environment
→ 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
→ Income Approach
→ Capitalization Rate
→ Capitalization Rates—A Note of Caution
→ Discounted Present Value Techniques
→ Land Values: Highest and Best Use Analysis
→ Volatility in Land Prices
→ “Highest and Best Use” Analysis –V acant Site
→ “Highest and Best Use” Analysis – Improved Property
→ Mortgage-Equity Capitalization
→ Reconciliation: Sales Comparison and Income Capitalization Approaches
→ Exploring the Relationships between Changing Market Conditions, Cap Rates, and Property Values
→ A Closing Note on Cap Rates and Market Conditions
→ A Word of Caution—Simultaneous Effects of Real Market Forces and Interest Rates on Property Values
→ Leases: Valuation of a Leased Fee Estate
→ Cost Approach
→ Valuation Case Study—Oakwood Apartments
→ ARGUS Solution
→ Valuation Fundamentals
→ Appraisal Process and Approaches to Valuation
→ Sales Comparison Approach
→ Income Approach
→ Capitalization Rate
→ Capitalization Rates—A Note of Caution
→ Discounted Present Value Techniques
→ Land Values: Highest and Best Use Analysis
→ Volatility in Land Prices
→ “Highest and Best Use” Analysis –V acant Site
→ “Highest and Best Use” Analysis – Improved Property
→ Mortgage-Equity Capitalization
→ Reconciliation: Sales Comparison and Income Capitalization Approaches
→ Exploring the Relationships between Changing Market Conditions, Cap Rates, and Property Values
→ A Closing Note on Cap Rates and Market Conditions
→ A Word of Caution—Simultaneous Effects of Real Market Forces and Interest Rates on Property Values
→ Leases: Valuation of a Leased Fee Estate
→ Cost Approach
→ Valuation Case Study—Oakwood Apartments
→ ARGUS Solution
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
→ Office Building Example
→ Base Rent
→ CPI Adjustment
→ Expense Stops
→ Net Operating Income
→ Expected Outlays for Replacements and Capital Improvements
→ Estimated Sale Price
→ Introduction to Investment Analysis
→ Internal Rate of Return (IRR)
→ Present Value
→ ARGUS Solution
→ Introduction to Debt Financing
→ Measures of Investment Performance Using Ratios
→ Before-Tax Cash Flow from Sale
→ Summary of Investment Analysis Calculations
→ Taxation of Income-Producing Real Estate
→ Taxable Income from Operation of Real Estate
→ Depreciation Allowances
→ Loan Points
→ Tax Liability and After-Tax Cash Flow
→ Taxable Income from Disposal of Depreciable Real Property
→ After-Tax Investment Analysis
→ After-Tax Cash Flow from Operations
→ After-Tax Cash Flow from Sale
→ After-Tax IRR
→ Effective Tax Rate
→ A Note about Passive Losses
→ Special Exceptions to PAL Rules
→ Approaches to Metro Area Market Forecasting: Basic Concepts and Data Sources
→ 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
→ Office Building Example
→ Base Rent
→ CPI Adjustment
→ Expense Stops
→ Net Operating Income
→ Expected Outlays for Replacements and Capital Improvements
→ Estimated Sale Price
→ Introduction to Investment Analysis
→ Internal Rate of Return (IRR)
→ Present Value
→ ARGUS Solution
→ Introduction to Debt Financing
→ Measures of Investment Performance Using Ratios
→ Before-Tax Cash Flow from Sale
→ Summary of Investment Analysis Calculations
→ Taxation of Income-Producing Real Estate
→ Taxable Income from Operation of Real Estate
→ Depreciation Allowances
→ Loan Points
→ Tax Liability and After-Tax Cash Flow
→ Taxable Income from Disposal of Depreciable Real Property
→ After-Tax Investment Analysis
→ After-Tax Cash Flow from Operations
→ After-Tax Cash Flow from Sale
→ After-Tax IRR
→ Effective Tax Rate
→ A Note about Passive Losses
→ Special Exceptions to PAL Rules
→ Approaches to Metro Area Market Forecasting: Basic Concepts and Data Sources
Part 3
Financial Leverage and Financing Alternatives
→ Introduction to Financial Leverage
→ Conditions for Positive Leverage - Before Tax
→ Conditions for Positive Leverage - After Tax
→ Break-Even Interest Rate
→ Risk and Leverage
→ Underwriting Loans on Income Properties
→ Market Study and Appraisal
→ Borrower Financials
→ The Loan-to-Value Ratio
→ The Debt Coverage Ratio
→ Other Loan Terms and Mortgage Covenants
→ Alternatives to Fixed Rate Loan Structures
→ Participation Loans
→ Lender Motivations
→ Investor Motivations
→ Participation Example
→ Sale-Leaseback of the Land
→ Effective Cost of the Sale-Leaseback
→ Interest Only Loans
→ Accrual Loans
→ Structuring the Payment for a Target Debt Coverage Ratio
→ Convertible Mortgages
→ Lender’s Yield on Convertible Mortgages
→ Comparison of Financing Alternatives
→ Monument Office Building Example - ARGUS Solution with a Loan
→ Other Financing Alternatives
→ Conditions for Positive Leverage - Before Tax
→ Conditions for Positive Leverage - After Tax
→ Break-Even Interest Rate
→ Risk and Leverage
→ Underwriting Loans on Income Properties
→ Market Study and Appraisal
→ Borrower Financials
→ The Loan-to-Value Ratio
→ The Debt Coverage Ratio
→ Other Loan Terms and Mortgage Covenants
→ Alternatives to Fixed Rate Loan Structures
→ Participation Loans
→ Lender Motivations
→ Investor Motivations
→ Participation Example
→ Sale-Leaseback of the Land
→ Effective Cost of the Sale-Leaseback
→ Interest Only Loans
→ Accrual Loans
→ Structuring the Payment for a Target Debt Coverage Ratio
→ Convertible Mortgages
→ Lender’s Yield on Convertible Mortgages
→ Comparison of Financing Alternatives
→ Monument Office Building Example - ARGUS Solution with a Loan
→ Other Financing Alternatives
Risk Analysis
→ Introduction
→ Comparing Investment Returns
→ Types of Risk
→ Due Diligence in Real Estate Investment Risk Analysis
→ Sensitivity Analysis
→ Partitioning the IRR
→ Variation in Returns and Risk
→ Retail Case Study - Westgate Shopping Center
→ Westgate Shopping Center Scenario Analysis
→ Westgate Shopping Center - ARGUS Analysis
→ Lease Rollover Risk
→ Market Rent
→ Industrial Case Study - Worthington Distribution Center
→ Solution with ARGUS
→ Risk and Leverage
→ A “Real Options” Approach to Investment Decisions
→ Traditional Approach to Land Valuation
→ Comparing Investment Returns
→ Types of Risk
→ Due Diligence in Real Estate Investment Risk Analysis
→ Sensitivity Analysis
→ Partitioning the IRR
→ Variation in Returns and Risk
→ Retail Case Study - Westgate Shopping Center
→ Westgate Shopping Center Scenario Analysis
→ Westgate Shopping Center - ARGUS Analysis
→ Lease Rollover Risk
→ Market Rent
→ Industrial Case Study - Worthington Distribution Center
→ Solution with ARGUS
→ Risk and Leverage
→ A “Real Options” Approach to Investment Decisions
→ Traditional Approach to Land Valuation
Disposition and Renovation of Income Properties
→ Disposition Decisions
→ A Decision Rule for Property Disposition
→ IRR for Holding versus Sale of the Property
→ Return to a New Investor
→ Marginal Rate of Return
→ Refinancing as an Alternative to Disposition
→ Incremental Cost of Refinancing
→ Leveraged Return from Refinancing and Holding an Additional Five Years
→ Refinancing at a Lower Interest Rate
→ Other Disposition Considerations - Portfolio Balancing
→ Tax-Deferral Strategies upon Disposition
→ Installment Sales
→ Tax-Deferred Exchanges
→ Renovation as an Alternative to Disposition
→ Renovation and Refinancing
→ Rehabilitation Investment Tax Credits
→ Low-Income Housing
→ A Decision Rule for Property Disposition
→ IRR for Holding versus Sale of the Property
→ Return to a New Investor
→ Marginal Rate of Return
→ Refinancing as an Alternative to Disposition
→ Incremental Cost of Refinancing
→ Leveraged Return from Refinancing and Holding an Additional Five Years
→ Refinancing at a Lower Interest Rate
→ Other Disposition Considerations - Portfolio Balancing
→ Tax-Deferral Strategies upon Disposition
→ Installment Sales
→ Tax-Deferred Exchanges
→ Renovation as an Alternative to Disposition
→ Renovation and Refinancing
→ Rehabilitation Investment Tax Credits
→ Low-Income Housing
Part 4
Financing Corporate Real Estate
→ Lease-versus-Own Analysis
→ Leasing versus Owning—An Example
→ Cash Flow from Leasing
→ Cash Flow from Owning
→ Cash Flow from Owning versus Leasing
→ Return from Owning versus Leasing
→ Importance of the Residual Value of Real Estate
→ The Investor’s Perspective
→ A Note on Project Financing
→ Factors Affecting Own-versus-Lease Decisions
→ The Role of Real Estate in Corporate Restructuring
→ Sale-Leaseback
→ Refinancing
→ Investing in Real Estate for Diversification
→ Real Estate Asset Pricing and Capital Budgeting Analysis: A Synthesis
→ Leasing versus Owning—An Example
→ Cash Flow from Leasing
→ Cash Flow from Owning
→ Cash Flow from Owning versus Leasing
→ Return from Owning versus Leasing
→ Importance of the Residual Value of Real Estate
→ The Investor’s Perspective
→ A Note on Project Financing
→ Factors Affecting Own-versus-Lease Decisions
→ The Role of Real Estate in Corporate Restructuring
→ Sale-Leaseback
→ Refinancing
→ Investing in Real Estate for Diversification
→ Real Estate Asset Pricing and Capital Budgeting Analysis: A Synthesis
Financing Project Development
→ Introduction
→ Overview: The Planning Process
→ The Development of Income-Producing Property
→ Market Risks and Project Feasibility
→ Project Risks
→ Project Development Financing - An Overview
→ Lender Requirements in Financing Project Development
→ Loan Submission Information for Loan Requests - An Overview
→ Contingencies in Lending Commitments
→ The Construction or Interim Loan
→ Methods of Disbursement—Construction Lending
→ Interest Rates and Fees
→ Project Development Illustrated
→ Sensitivity Analysis, Risk, and Feasibility Analysis
→ Overview: The Planning Process
→ The Development of Income-Producing Property
→ Market Risks and Project Feasibility
→ Project Risks
→ Project Development Financing - An Overview
→ Lender Requirements in Financing Project Development
→ Loan Submission Information for Loan Requests - An Overview
→ Contingencies in Lending Commitments
→ The Construction or Interim Loan
→ Methods of Disbursement—Construction Lending
→ Interest Rates and Fees
→ Project Development Illustrated
→ Sensitivity Analysis, Risk, and Feasibility Analysis
Financing Land Development Projects
→ The Land Development Process—An Overview
→ Financing and Development
→ Lender Requirements in Financing Land Development
→ Detailed Cost Breakdowns
→ Residential Land Development Illustrated
→ Estimating Development Cost and Interest Carry
→ Repayment Schedule
→ Project Feasibility and Profitability
→ Project IRR and Net Present Value
→ Sensitivity Analysis
→ Financing and Development
→ Lender Requirements in Financing Land Development
→ Detailed Cost Breakdowns
→ Residential Land Development Illustrated
→ Estimating Development Cost and Interest Carry
→ Repayment Schedule
→ Project Feasibility and Profitability
→ Project IRR and Net Present Value
→ Sensitivity Analysis
Structuring Real Estate Investments: Organizational Forms and Joint Ventures
→ Introduction
→ Sole Proprietorships
→ Partnerships
→ Limited Liability Companies
→ Corporations
→ Joint Ventures
→ Organizational Forms
→ Profit Sharing
→ Initial Capital Contributions
→ Sharing Cash Flow from Operations
→ Sharing of Cash Flow from Sale
→ Summary of Cash Flows Distributed in Each Operating Year
→ Cash Flow from Sale
→ IRR to Each Joint Venture Party
→ Variation on the Preferred IRR—IRR Lookback
→ Syndications
→ Use of the Limited Partnership in Private and Public Syndicates
→ Private Syndication Problem Illustrated
→ Financial Considerations - Partnership Agreement
→ Operating Projections
→ Statement of Before-Tax Cash Flow (BTCF)
→ Calculation of Net Income or Loss
→ Calculation of Capital Gain from Sale
→ Capital Accounts
→ Distribution of Cash from Sale of Asset
→ Calculation of After-Tax Cash Flow and ATIRR on Equity
→ Partnership Allocations and Substantial Economic Effect
→ Capital Accounts and Gain Charge-Backs
→ Use of the Limited Partnership in Private and Public Syndicates
→ Use of Corporate General Partners
→ Private versus Public Syndicates
→ Accredited Investors
→ Syndicates
→ Investment Objectives and Policies
→ Promoters’and Managers’Compensation
→ Investor Suitability Standards
→ Sole Proprietorships
→ Partnerships
→ Limited Liability Companies
→ Corporations
→ Joint Ventures
→ Organizational Forms
→ Profit Sharing
→ Initial Capital Contributions
→ Sharing Cash Flow from Operations
→ Sharing of Cash Flow from Sale
→ Summary of Cash Flows Distributed in Each Operating Year
→ Cash Flow from Sale
→ IRR to Each Joint Venture Party
→ Variation on the Preferred IRR—IRR Lookback
→ Syndications
→ Use of the Limited Partnership in Private and Public Syndicates
→ Private Syndication Problem Illustrated
→ Financial Considerations - Partnership Agreement
→ Operating Projections
→ Statement of Before-Tax Cash Flow (BTCF)
→ Calculation of Net Income or Loss
→ Calculation of Capital Gain from Sale
→ Capital Accounts
→ Distribution of Cash from Sale of Asset
→ Calculation of After-Tax Cash Flow and ATIRR on Equity
→ Partnership Allocations and Substantial Economic Effect
→ Capital Accounts and Gain Charge-Backs
→ Use of the Limited Partnership in Private and Public Syndicates
→ Use of Corporate General Partners
→ Private versus Public Syndicates
→ Accredited Investors
→ Syndicates
→ Investment Objectives and Policies
→ Promoters’and Managers’Compensation
→ Investor Suitability Standards
Part 5
How can you list in the US as Real Estate Investment Trusts (REITs) ?
→ Introduction
→ Legal Requirements
→ Tax Treatment
→ Violation Penalties and Status Termination
→ Taxable REIT Subsidiaries
→ Types of Trusts
→ Equity Trusts
→ The Investment Appeal of Equity Trusts
→ Private REITs
→ Importance of FFO (Funds from Operations)
→ REIT Expansion and Growth
→ Important Issues in Accounting and Financial Disclosure: Equity REITs
→ Tenant Improvements and Free Rents: Effects on FFO
→ Leasing Commissions and Related Costs
→ Use of Straight-Line Rents
→ FFO and Income from Managing Other Properties
→ Types of Mortgage Debt and Other Obligations
→ Existence of Ground Leases
→ Lease Renewal Options and REIT Rent Growth
→ Occupancy Numbers: Leased Space or Occupied Space?
→ Retail REITs and Sales per Square Foot
→ Additional Costs of Being a Public Company
→ The Investment Appeal of Mortgage REITs
→ Financial Analysis of an Equity REIT Illustrated
→ Valuing REITs as Investments
→ Valuation of Midwestern America Property Trust
→ Legal Requirements
→ Tax Treatment
→ Violation Penalties and Status Termination
→ Taxable REIT Subsidiaries
→ Types of Trusts
→ Equity Trusts
→ The Investment Appeal of Equity Trusts
→ Private REITs
→ Importance of FFO (Funds from Operations)
→ REIT Expansion and Growth
→ Important Issues in Accounting and Financial Disclosure: Equity REITs
→ Tenant Improvements and Free Rents: Effects on FFO
→ Leasing Commissions and Related Costs
→ Use of Straight-Line Rents
→ FFO and Income from Managing Other Properties
→ Types of Mortgage Debt and Other Obligations
→ Existence of Ground Leases
→ Lease Renewal Options and REIT Rent Growth
→ Occupancy Numbers: Leased Space or Occupied Space?
→ Retail REITs and Sales per Square Foot
→ Additional Costs of Being a Public Company
→ The Investment Appeal of Mortgage REITs
→ Financial Analysis of an Equity REIT Illustrated
→ Valuing REITs as Investments
→ Valuation of Midwestern America Property Trust
Real Estate Investment Performance and Portfolio Considerations
→ Introduction
→ The Nature of Real Estate Investment Data
→ Sources of Data Used for Real Estate Performance Measurement
→ NCREIF Property Index: Property Values
→ Data Sources for Other Investments
→ Cumulative Investment Return Patterns
→ Computing Holding Period Returns
→ Comparing Investment Returns
→ Risk, Return, and Performance Measurement
→ Risk-Adjusted Returns: Basic Elements
→ Calculating Portfolio Returns
→ Portfolio Risk
→ Example - Swap Office for Retail
Practical Case Study: Full Excel model of real estate investment decision analysis of a residential compound in Saudi Arabia including 40 villas with full details including assumptions, waterfall analysis, sensitivity analysis, development cost monitor, project return vs equity return, return on investment and investment management fees among others. It is the model that top professionals typically use in the region.
→ The Nature of Real Estate Investment Data
→ Sources of Data Used for Real Estate Performance Measurement
→ NCREIF Property Index: Property Values
→ Data Sources for Other Investments
→ Cumulative Investment Return Patterns
→ Computing Holding Period Returns
→ Comparing Investment Returns
→ Risk, Return, and Performance Measurement
→ Risk-Adjusted Returns: Basic Elements
→ Calculating Portfolio Returns
→ Portfolio Risk
→ Example - Swap Office for Retail
Practical Case Study: Full Excel model of real estate investment decision analysis of a residential compound in Saudi Arabia including 40 villas with full details including assumptions, waterfall analysis, sensitivity analysis, development cost monitor, project return vs equity return, return on investment and investment management fees among others. It is the model that top professionals typically use in the region.
على من يجب الحضور؟
تم تصميم هذه الدورة العملية والتفاعلية للغاية خصيصًا لـ
تستهدف هذه الدورة الأشخاص الذين لديهم عدة سنوات’ من الخبرة العقارية أو المالية/الاستثمارية
→ المستثمرون والمحللون العقاريون
→ مدراء العقارات
→ متخصصون في التخطيط والتطوير في مجال العقارات
→ مطورو العقارات
→ المصرفيون والمقرضون
→ ممولي الشركات
→ مدراء المحافظ العقارية
→ المديرين الماليين والمحللين
→ أصحاب العقارات
→ مدراء صناديق التحوط
→ وسطاء الرهن العقاري
→ مديرو العلاقات المصرفية الخاصة المسؤولون عن الاستثمارات العقارية
→ أي شخص يمارس مهنة في مجال العقارات
أسئلة شائعة
ما هي اللغة التي سيتم تدريس الدورة بها وما هو مستوى اللغة الإنجليزية الذي أحتاجه للمشاركة في برنامج تدريب LEORON؟
يتم تقديم معظم دورات LEORON باللغة الإنجليزية. ومع ذلك، هناك بعض الدورات المقدمة باللغة العربية، معظمها عبر الإنترنت. بالنسبة لدوراتنا التدريبية الداخلية، يمكن تنظيم الجلسات وتقديمها بأي لغة عند الطلب. بشكل عام، أفضل طريقة للتأكد من توفر اللغة هي مراجعة مديري التسجيل لدينا للحصول على أحدث المعلومات. ما عليك سوى النقر على “دعنا نتحدث على WhatsApp” للدردشة معنا مباشرة.
ما هي الأشكال التي يتم تقديم الدورات بها؟
يقدم LEORON التدريب في أشكال مختلفة بما في ذلك الجلسات الافتراضية المباشرة وجهاً لوجه، والتعلم الذاتي، والتسليم الداخلي بالإضافة إلى الدورات التدريبية عبر الإنترنت.
هل دورات LEORON العامة معتمدة من قبل هيئة/منظمة رسمية؟
نعم، معظم دورات LEORON العامة معتمدة من قبل هيئات معترف بها دوليًا مثل CIPD، وATD، وPMI، وEdEx، وغيرها الكثير—اعتمادًا على الدورة.
من الذي يعتمد برامج التدريب الخاصة بـ LEORON؟
تتعاون LEORON مع أكثر من 20 هيئة دولية مثل PMI وCIPD وATD وEdEx وNASBA وCISI وGARP وHRCI وSHRM وACCA وASQ وIIA وILM وIAC وغيرها
هل يتم توفير نقاط التطوير المهني المستمر أو وحدات التطوير المهني؟
نعم، يمكن للمتعلمين الحصول على اعتمادات التطوير المهني المستمر ووحدات التطوير المهني (PDUs) بما في ذلك NASBA CPEs، وPMI PDUs، وCISI، وGARP، وHRCI، وSHRM، والمزيد.
كيف يمكنني التسجيل في الدورة؟
يمكنك التسجيل عبر موقعنا الإلكتروني عن طريق ملء نموذج الاستفسار، أو عن طريق التحدث مباشرة مع أحد مستشارينا عبر الواتساب أو البريد الإلكتروني. بمجرد تأكيد اهتمامك، سنرشدك خلال الخطوات.
متى يكون الموعد النهائي للتسجيل في الدورات العامة؟
يتم إغلاق التسجيل عادةً قبل 14 يومًا من تاريخ بدء الدورة، مع قبول التسجيلات المتأخرة في بعض الأحيان عند التأكيد
ما الذي تتضمنه رسوم الدورة؟
تغطي الرسوم عمومًا مرافق الأماكن ذات الخمس نجوم، ومواد التدريب، والتعليمات المعتمدة، والغداء والمرطبات، بالإضافة إلى الشهادة والعضوية حيثما ينطبق ذلك0065
هل هناك أسعار جماعية أو خصومات؟
نعم، تتوفر حجوزات جماعية وخصومات على مستوى الشركات. يتم تشجيع المتعلمين على التواصل لمناقشة الترتيبات المحددة
ما هو الدعم المتاح مع التسجيل؟
يساعد مديرو التسجيل ومكتب التسجيل في العملية برمتها، بما في ذلك المواعيد النهائية ولوجستيات السفر وتخصيص الدورة التدريبية. بالإضافة إلى أي طلبات خاصة أخرى قد تكون لديك. ما عليك سوى الذهاب إلى الدورة التدريبية المفضلة لديك والنقر على “دعنا نتحدث على WhatsApp” للقيام بذلك.
هل يمكنني طلب دورة تدريبية مخصصة في موقعي أو داخل مؤسستي؟
نعم، التدريب الداخلي قابل للتخصيص بالكامل من حيث المنهج واللغة والتسليم والتوقيت. يمكنك اقتراح التواريخ والمواقع. ما عليك سوى الذهاب إلى الدورة التدريبية المفضلة لديك والنقر على “دعنا نتحدث على WhatsApp” للإجابة على أي أسئلة أو مخاوف في هذا الصدد.
ما هي سياسة الاسترداد أو الإلغاء؟
تختلف سياسات الاسترداد والإلغاء حسب نوع الدورة وموقعها. بشكل عام، قد تكون عمليات الإلغاء التي تتم قبل 14 يومًا على الأقل من تاريخ بدء الدورة مؤهلة لاسترداد كامل أو جزئي، في حين أن عمليات الإلغاء التي تتم بالقرب من تاريخ الدورة قد تؤدي إلى فرض رسوم. للحصول على الشروط الدقيقة، يرجى استشارة مدير التسجيل الخاص بك أو الرجوع إلى البريد الإلكتروني لتأكيد الدورة.
هل يمكنني تسجيل عدة موظفين من شركتي؟
نعم. نحن ندعم التسجيلات الجماعية ونقدم حزمًا مؤسسية للمؤسسات التي تسجل مشاركين متعددين. يمكن لفريقنا المساعدة في تنسيق الخدمات اللوجستية للحجوزات الجماعية.
من يجب أن يحضر هذه الدورات؟
تقدم LEORON خدماتها لمجموعة متنوعة من المهنيين: بدءًا من أولئك الذين يسعون إلى تطوير المهارات القيادية وحتى مديري المشاريع ومتخصصي الموارد البشرية والمهنيين الماليين والأمن السيبراني والمشتريات وعشاق الذكاء الاصطناعي وغيرهم الكثير.
هل أحتاج إلى خبرة سابقة أو مؤهلات أكاديمية؟
ليس دائما. تقبل العديد من المسارات المتخصصة، مثل الأمن السيبراني، المتعلمين الذين ليس لديهم خبرة سابقة. ومع ذلك، قد تكون لبعض الدورات التدريبية (على سبيل المثال، الدورات التدريبية المعتمدة على PMI PDU) متطلبات مسبقة موصى بها. من الأفضل دائمًا الدردشة مع أحد مديري التسجيل لدينا لمناقشة المزيد. ما عليك سوى الذهاب إلى الدورة التدريبية المفضلة لديك والنقر على “دعنا نتحدث على WhatsApp” للقيام بذلك.
هل سأحصل على شهادة بعد الانتهاء من الدورة؟
"نعم. عند الحضور الكامل والإكمال الناجح، سوف تحصل على شهادة المشاركة أو الاعتماد، اعتمادًا على الدورة.
هل الوجبات والمشروبات متضمنة في الدورات وجهاً لوجه؟
"نعم. بالنسبة للدورات التدريبية الشخصية، يتم توفير فترات استراحة الغداء والقهوة يوميًا في المكان.
هل يمكن لـ LEORON تقديم دورة تدريبية داخليًا في مؤسستنا؟
بالتأكيد. يمكن تقديم جميع البرامج بشكل خاص في شركتك أو افتراضيًا لفريقك، وتخصيصها لتتناسب مع أهدافك وهيكلك الداخلي.
التعليقات
- عرض:AR IAMM Internal Audit Maturity ModelAR In recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!Dalal Kutbi
- عرض:AR Certified Professional in Quality and Patient SafetyAR Dating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider “LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,Turki S. Alsahaan
- عرض:AR Certified Professional in Quality and Patient SafetyAR Since the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.Emad Alrajih
- عرض:AR Certified Professional in Quality and Patient SafetyAR We have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. LEORON has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,Nasser M. Al-Subaie
