This course uses an unique approach to evaluating the viability of the various conventional measurements of value, yield, and return in investment real estate. First, "16 contributing elements to value" are identified. These consist of all of the possible inputs that an investor would want to consider in investigating the value of a potential investment property. Then the following methods of evaluation are defined and discussed relative to: how many of the 16 contributing elements are considered in the calculation of that particular method; their relative merits and pitfalls; their practical application and usage in the marketplace; and what types of properties and investors with which they are most effectively used.

There are also chapters on cost recovery, passive loss, capital gain computation, at-risk limitations, compounding and discounting, net present value, discounted cash flow analysis, and risk/market analysis. Each chapter has excellent examples, and all but a couple have case studies, which the students do together in small groups. The entire class is conducted via a PowerPoint™/LCD projector/laptop-type presentation with more than 100 different slides, many of which have movement and sound. There is also a 105-page manual/workbook.

For those who have never been exposed to this material, this course will prove to be an excellent introduction, and would be one of the best preparations for the CCIM CI-101 course that one could take. For those who have been exposed to, and have used some of the material contained in this course, this will serve as an excellent refresher, especially in many of the areas, which may not have been used for a while. I have had hundreds of CCIMs, SIORs, commercial company owners and managers, CPAs, and appraisers in my classes all professing to have derived significant benefit from the course. As a matter of fact, the alumni of this course constitute a "'Who's Who' of Texas Commercial/Investment Real Estate." Appraisers will find this a very in-depth analysis of the "income approach" to appraising, and they will learn a lot of the "street smart" broker inputs to value, that might not necessarily be contained "only in the numbers." This course has also been very well received by the property management community. It has greatly helped them to understand the dramatic impact on value and yield that their day-to-day management activities have, and to more thoroughly understand the motivation behind some of their owners' dictates.

At the end of this course, the student will have a much better understanding of the analysis of investment real estate, and more importantly, which methods to use with the various types of clients they will encounter in their day-to-day business. In addition, the knowledge gained in pursuing one's own personal investment portfolio, will be invaluable, and this again applies to commercial/investment agents, as well as residential agents and principals. As a matter of fact, historically 60 to 70% of my 13,000+ past students have been residential agents who were either interested in a commercial career themselves, pursuing their own real estate investment activity, or just looking for something new and refreshing for their MCE requirements.

While a financial calculator is highly recommended, it is not absolutely necessary to participate effectively in this course. I teach concepts, not keystrokes! Recommended calculator is the HP10-B.