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Description

Investment Analysis for Real Estate Investments

, Online

Investment analysis is a critical function in ensuring robust underwriting of acquisitions and maximising the income performance of assets. This online course, which takes place in two-hour sessions over four days, will use a combination of theory, an illustrative cash-flow model and a case study, to demonstrate best practice modelling techniques within real estate. It will consider the inputs and outcomes of cash-flow modelling, as well as examining limitations and how to critique results.

The INREV Investment Analysis online course starts with a bottom-up approach from the asset to the fund level, while later focusing on the impact of issues such as debt, tax structuring and fees. The final session brings all the elements together in a case study.

The course will include the following topics:

  • Investment analysis essentials including a high level understanding of cognitive biases in decision making
  • Key model inputs for real estate cash-flow analysis and model set-up
  • In-depth analysis of the impact of debt financing
  • The impact of taxes and structuring on real estate returns
  • The effect of specific fund fee structures and levels on returns to investors

The course will include presentations by industry experts, group discussions and a case study to allow participants to share their views. 

Who should attend the course?
This course is aimed at individuals involved in investment analysis at both the asset and fund level. This could include junior analysts or more experienced individuals wishing to get an update on cash-flow analysis for real estate. The course will be of interest for investors, investment managers and advisers, specifically acquisition, asset managers and lenders.

Attendees should already have a good competency level in finance and be familiar with Excel-based techniques for cashflow modelling. Please note that this is not and Excel cash-flow modelling course.

Upon completion of the seminar participants will be able to:

  • Identify and understand the limitations involved with modelling techniques;
  • Benefit from improved or refreshed technical skills for investment analysis;
  • Better critique the underlying assumptions and outcomes of models;
  • Understand the current landscape surrounding debt financing;
  • Have a high level overview of the impact of taxes and structuring;
  • Benefit from an improved understanding of fund fee structures and performance fees.

This course is open to INREV members and non-members and counts towards the INREV/ Henley Certificate for Non-listed Real Estate Investments.

Where

Where

Online

Programme

Fees & Terms

Fees

Online Course for INREV members (€ 250)

Terms and conditions

Fees

Non member fee - 350 euros

General

1.1. INREV Online Courses are open to Representatives and other interested individuals, not being Representatives (Non-Representatives).

1.2. For Representatives, the Membership Terms and Conditions fully apply to INREV Online Courses. In the event of any conflict or inconsistency between any provisions of these Training Courses Terms and Conditions and the Membership Terms and Conditions, first the Online Course Terms and Conditions and then the Membership Terms and Conditions shall prevail.

1.3. Representatives and Non-Representatives will hereinafter together be referred to as “Applicants”.

1.4. The costs of attending an INREV online course (Attendance Fee) will be communicated to Applicants at the time of registration.

1.5. Admission to any INREV online course is subject to registration and subsequent written confirmation of that registration by INREV. If you are a Representative and the Member you represent has not yet paid their annual INREV membership fee, INREV will not confirm registration of any of their Representatives until payment is made If an Applicant personally has any outstanding invoices with INREV, INREV will not confirm registration for INREV online course until full payment of all outstanding invoices is made.

1.6. All personal data provided to INREV by Applicants, during the application process or afterwards, including their biographies, will be processed in accordance with the Privacy Statement of INREV, which can be found on the INREV website. Biographies of Applicants, and the personal data they may contain, will only be shared with other Applicants as part of the course documentation of an INREV online course.

1.7. By registering for an online course, attendees accept and acknowledge that images may be taken of them during the INREV online course and give INREV express permission to use these images for reproduction. Only in the event that such an image depicts a close up of a particular attendee or a small group of attendees, INREV shall seek additional permission for the use of such an image.

Cancellation and no-show policy

2.1. When registering for an INREV Online Courses, INREV will inform Representatives of the applicable attendance fee. Attendance Fees may differ for Representatives and Non-Representatives.

2.2. There is no charge for cancellation until attendance of the online course is confirmed by INREV. Any Attendance Fees paid to INREV before confirmation will be fully restituted.

2.3. Full attendance fee is due as soon as INREV confirms an Applicants registration, Any Attendance Fees already paid to INREV will not be refunded.

2.4. As a Representative, if you register and your registration is confirmed by INREV, but you do not attend the online course (no-show), the full Attendance Fee is due, unless you are replaced with another Representative. As a Non-Representative, if you register and your registration is confirmed by INREV, but do not attend the online course (no-show), you will be charged with the full Attendance Fee to cover the costs that INREV will incur. Any Attendance Fees already paid to INREV will not be refunded. As a Non-Representative you are also allowed to have someone else participate in your place.

Mandatory Attendance

3.1 Just like during a regular INREV training course, we expect all participants to attend all sessions and actively participate during the course. If you fail to attend a session you will not receive the certificate of attendance for the course. 

3.2 All INREV online courses will be organised via Zoom and it is highly recommended to access the online courses via the Zoom app (either on a laptop or mobile phone). To make this online course interactive and engaging we also request participants to have their camera's on during the course sessions. 

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