CI 101 - Financial Analysis for Commercial Investment Real Estate
Essential Skills
Our gateway course covering the basics of commercial real estate finance is the most popular CCIM course. This course is enjoyed not only by those in traditional commercial real estate fields, but also by individual investors, allied professionals such as lawyers, CPAs and financial planners, and residential REALTORS®. By the end of this course you will be able to:
· Calculate the value of a property.
· Measure investment performance of a property using a variety of methods; the sales comparison approach, the cash flow model, net present value, discount rate and capitalization rate methods.
· Understand the components and structure of commercial real estate loans.
· Calculate before- and after-tax yields.
· Apply the principals of commercial real estate, investment fundamentals, tax regulations and related business subjects to real-world applications.
Overview
This flagship CCIM course offers an array of financial analysis concepts and calculations to help you make sound commercial investment real estate decisions. You will learn the fundamentals of profitable investing and apply these concepts to commercial properties. Advanced analyses covered throughout the course include the real estate cash flow model and time value of money. In addition, you'll learn how to accurately measure investment value and performance of a given property.
The course concludes with two comprehensive case studies in which you apply your newly acquired knowledge and skills to real-world scenarios. Begin your journey to success by enrolling today.
Highlights
1. Recap Investment Fundamentals
· Review investor and investment characteristics
· Make investment decisions using investor preferences
2. Master the Cash Flow Model; Understand Time Value of Money
· Learn the components of the real estate cash flow model
· Calculate net operating income (NOI) using source data
· Solve time value of money calculations based on real estate situations
· Make Informed Financing Decisions
· Target appropriate financing sources
· Learn the variables involved in commercial real estate loans
· Know the criteria lenders use to evaluate a loan application
· Understand the Value of Appraisal
· Distinguish the difference between a property's price, value, and cost
· Learn the appraiser's approach to determine value
· Differentiate between the sales comparison, cost, and income approaches to establishing market value
· Determine Investment Value and Measure Investment Performance
· Determine investment value through the sales comparison approach
· Identify the various methods for measuring investment performance, including the cash flow model
· Learn to calculate net present value as a measurement of investment performance
· Understand the difference between the discount rate and the capitalization rate
· Use Your Laptop Computer
· Practice analysis techniques using custom designed CCIM Excel®-based programs to solve case study problems
· Access additional references, tools and interactive business forms included on a customized CD-ROM
· Comprehend Tax Implications
· Calculate tax liabilities from "tax world" and "real world" perspectives
· Learn the difference between taxable income and cash flow before tax
Shelter taxable income through cost recovery deductions
CI 102- Market Analysis for Commercial Investment Real Estate
Essential Skills
Market Analysis was extensively rewritten in recent years to incorporate the addition of technological resources, and the introduction of interactive activities and case studies. This course is our most technologically oriented, and incorporates custom designed Excel®-based worksheets, internet resources, and mapping software. By the end of this course you will:
· Understand how supply and demand factors impact a market forecast.
· Gain insight into site feasibility, market dynamics and market pricing.
· Learn and apply the Market Analysis Model in making real estate decisions.
· Understand how to collect and use market data and mapping software using your computer.
· Analyze retail, office, residential and industrial uses for a site.
· Apply the principals of market analysis, economic base analysis and related commercial real estate subjects to real-world applications.
Overview
Cutting edge analysis tools and unparalleled knowledge enable investors, institutional funds, retailers, developers, brokers and other real estate professionals to evaluate the ideal market for a site, and the ideal site for a project. Successful real estate professionals understand the importance of market analysis when making commercial real estate decisions. Economic Base Analysis, an important starting point for forecasting the future of a market area, will be introduced and applied throughout the course.
You'll learn how supply and demand factors interact to impact a market forecast, as well as gain insight into site feasibility, market dynamics and market pricing. A case study approach will provide an in-depth perspective into the market analysis process as it applies to real world decision-making processes. Gain this cutting edge knowledge by enrolling today.
Highlights
1. Learn and Apply the Market Analysis Model
· Differentiate between market feasibility and market analysis
· Conduct location and site feasibility analysis
· Analyze financial feasibility
· Make a "Go, No-go, or Go with modifications" decision based on information collected during each step in the
Market Analysis Model
2. Understand the Collection and Use of Market Data
· Use the Internet as a resource for gathering data
· Depict market data through various mapping software and geographic information systems (GIS)
· Interpret data using statistics and other sources of information
· Use Your Laptop Computer
· Conduct feasibility tests using specially designed CCIM Excel-based programs
· Apply CI 101 techniques to decision making using CCIM computer programs
· Work with data and tools included on a newly developed CI 102 CD-ROM to solve case study problems
· Put Supply/Demand Information to Work
· Evaluate and forecast economic activity and population growth
· Learn how market dynamics affect supply and demand
· Determine a region's economic advantage
· Project and interpret market trends
· Learn the fundamentals of Central Place Theory
· Recognize Factors Unique to Multifamily, Office, Industrial and Retail Properties
· Identify the disaggregation categories, critical linkages and demand parameters associated with each property type
· Learn how age, income and other trends influence demands for housing
· Conduct an aggregate gap analysis for industrial and office property types
· Project and interpret market trends
· Estimate a retail trade area using several different models
CI 103 - User Decision Analysis for Commercial Investment Real Estate
Essential Skills
Considered by many in the industry to be the most comprehensive course on comparative lease analysis
available anywhere. By the end of this course you will have acquired the skills necessary to:
· Apply the transaction management process to investor and user representation.
· Master Comparative Lease Analysis Techniques, such as leasing vs. owning and building vs. buying.
· Negotiate leasing terms and complete the transaction.
· Value leasehold interests and subleases.
Overview
Leases are the engines that drive the value of commercial real estate. Keeping this concept at the forefront, this course explores all pertinent aspects involving the valuation and costs of commercial leasehold interests from the user's perspective. Common terminology involving lease preparation will be defined, and negotiation tactics will be discussed. Participants will also learn strategies needed to counsel clients on the critical decision of leasing versus owning, building versus buying, as well as alternative strategies to a conventional lease. Examples of lease options will be addressed through several real-world case studies.
Highlights
1. Make Decisions Involving Future Benefits and Costs
· Review basic valuation concepts
· Gain a better understanding of how timing of operating cash flows affect an investment's value and rate of return
· Learn expanded time value of money (TVM) analysis techniques and the concept of risk and return
2. Transaction Management and User Decision Process
· Identify motivations for space investors and space users
· Determine the difference between types of real estate markets
· Learn the role of the manager in the transaction management process
· Apply the transaction management process to investor and user representation
· Understand Lease Terminology
· Comprehend common rent terminology, including language involving gross, rentable and useable areas,
percentage rent, common area maintenance, and escalation clauses
· Understand language involving applicable expenses in leases and other clauses
· Use Your Laptop Computer
· Practice analysis techniques using custom designed CCIM Excel®-based programs to solve case study
problems
· Access additional references, tools and interactive business forms included on a customized CD-ROM
· Learn Comparative Lease Analysis Techniques
· Calculate the costs for leasing versus owning
· Examine the benefits of buying versus building
· Determine the costs of subleases and buyouts
· Learn alternative user decisions, such as ground leases, equity leases and sale-leasebacks
· Valuing Leases
· Value leasehold interests and subleases in markets with differing market rents
· Make the lease buyout decision Learn the risks of subleasing
CI 104 - Investment Analysis for Commercial Investment Real Estate
Essential Skills
This is the course that analyzes the critical aspects of the acquisition, ownership and disposition of commercial investment properties. Once you complete CI 104 - Investment Analysis you will be able to:
· Analyze a client or owners' needs to determine the best investment strategy.
· Understand various financing options that may be available for a project.
· Determine the best disposition strategy for a property.
· Know the tax issues that affect the acquisition and disposition of real estate investments.
· Understand modern investment concepts such as expected value based on probabilities, real estate
exchanges, capital accumulation and income partitioning.
Overview
Purchasing real estate for investment can be one of the most challenging decisions that can be made by a corporation, institutional investor, partnership, or individual. Financial and regulatory factors, from finding a property consistent with the prospective owner's investment strategy to financing options and tax considerations, have a profound impact on future profitability. The course provides students with the knowledge needed to make sound decisions regarding every critical aspect of the acquisition and ownership of commercial investment property. The course addresses modern investment concepts such as expected value based on probabilities, real estate exchanges, capital accumulation as a method for evaluating alternative real estate investments and income partitioning a technique for valuing each portion of the cash flow by the risk it represents. The course thoroughly covers every type of investment real estate-multifamily, office, retail and industrial. Comprehensive case studies put the concepts explored into a real-world perspective.
Highlights
1. Revisit Financial Analysis
· Review time value of money calculations, before-tax and after-tax analysis and common financial and
profitability ratios
2. Learn Investment as a Process
· Determine the client's investment strategy
· Analyze available properties to select the optimal investment
· Consider effective methods to present recommendations to clients
· Analyze the Impact of Financing and Risk
· Identify traditional and emerging sources of financing
· Determine the lender's criteria for financing a project
· Understand financing from the borrower's perspective
· Analyze a variety of equity positions
· Understand Taxation Issues
· Learn the tax issues that affect the acquisition, operation, and disposition of commercial real estate
investments
· Recognize the impact of a Section 1031 tax-deferred exchange
· Use Your Laptop Computer
· Use Your Laptop Computer
· Access additional references, tools and interactive business forms included on a customized CD-ROM
· Examine Various Disposition Decisions
· Determine the best disposition strategy Analyze refinancing, exchange and alternative investment options
CCR - Course Concepts Review
Successfully passing the comprehensive examination is the final challenge for candidates pursuing the CCIM designation. The Course Concepts Review (CCR) program prepares candidates for the Comprehensive Examination through intensive case studies, course reviews and group interaction. This session is held two days preceding the comprehensive examination and covers the material included in CI 101-104. Attending the CCR also fulfills one of the three required elective credits for earning the CCIM designation.
CCR Course Summary - Review essential concepts from the four core courses:
· Market Analysis: Employment and the demand for real estate; vacancy and absorption; trade area gap
analysis; disaggregation to identify market opportunities; trade area delineation and
population; and disaggregating industrial demand
· Financing: Review of Financial Leverage: real estate loans; loan components; underwriting process; and effective
interest rates
· Taxation: Tax considerations at Acquisition: tax considerations during operations; cash flow after tax from
operations; sales proceeds after tax; and taxation for user/occupants
· Investment Value and Performance: Approaches to investment value and performance; direct capitalization;
internal rate of return; net present value; and capital accumulation comparison method
· User Decisions: Rent terminology and types of leases; cost of occupancy from leasing; leasehold and sublease
hold interests; and lease versus own/buy analysis
· Investor Decisions: Acquisition- phase and ownership; and disposition - phase decisions | 
