RE 618 / Fin 618
Real Estate Investment Analysis
MW 9:30-10:45
204 Clinton Hall
Fall 2009

Site last updated: 11/19/09 

Current grade spreadsheet - Updated 11/19/09. 

Special Announcements

November 19, 2009 - part c - Wow!  The 2nd midterm has been graded and you all did a great job.  The average score on the exam was 88.5%, and 19 out of 37 students earned an A.  Only 7 students earned grades below a B-.  I will return the exams on Monday (and the solutions will be posted on Monday as well). 

November 19, 2009 - part b - FYI, if you want to re-do your first spreadsheet assignment, I will re-grade it and assign you the revised grade.  If you want to do this please E-MAIL me your revised spreadsheet by the Monday after Thanksgiving (Dec. 30). 

November 19, 2009 - part a - A student asked that I provide partial solutions for HW9 so you can check your work.  These are now posted. 

November 11, 2009 - The Smartboard notes from today are posted, as well as an updated version of the lecture notes.  Also, the grade spreadsheet has been updated.

November 4, 2009 - The format for the midterm on Monday will be one long after-tax investment analysis problem, along with 10 or so MC/TF conceptual problems.  I suggest you work the sample problems again and again to get really comfortable with the calculations.  To help you study, I have posted both the formal solutions to HW 8 and the notes from when we worked out this problem in class. 

October 26, 2009 - I have updated the schedule to reflect the Schwartz Lecture on November 2nd.  Attendance at this lecture is required, and will count like a HW assignment.  As a result, the second midterm has been postponed until Monday, November 9th.  The rest of the schedule has been adjusted accordingly.

Also, the Smartboard notes from today are posted. 

October 14, 2009 - The homework solutions (#6 and #7) are now posted, along with the Smartboard notes from today (our in-class solutions to HW7). 

October 12, 2009 - I have posted the Smartboard notes from today. 

October 7, 2009 - Looking at the schedule, I thought it would help to clarify what we will be doing next week.  On Monday we will finish talking about commercial property finance, including DCR calculations and financial leverage.  Since we have not talked about these yet, I decided to push back Homework 6 to be due on Wednesday. 

Notice that this means that you have TWO homework assignments due on Wednesday.  Homework 7 is on before-tax investment analysis.  You should begin working on this over the weekend; most of it is no different that what we did for the last exam.  On Wednesday, we will be going through this problem in class.  The following Monday we will begin taxation of real estate investments. 

One final point to note.  The solutions to the midterm exam are now posted on the website. 

October 5, 2009 - The first midterm has been graded and the scores are posted on the grade spreadsheet above. 

September 23, 2009 - Wow! The Smartboard notes are posted in the same day.  Go figure.  I've also posted solutions to each of the first four homework assignments.  AND the grade sheet is updated with everything I have so far (pre-exams taken today may not be up there yet).  Remember, the first midterm is NEXT Wednesday. 

September 8, 2009 - I have posted the Smartboard lecture notes from last Wednesday on the Lectures page.  Sorry for the delay in getting these on the website. 

September 1, 2009 - The pre-exam has been graded, and the scores are posted in the spreadsheet above.  If you did not score at least 80% on the pre-exam, you will need to re-take it at the Testing Center.  Tomorrow in class I will give you a sheet telling you which questions you missed.  These correspond to the similar questions on the practice exam, so you can see what you need to study to re-take the exam. 

August 17, 2009 - I think the website is all ready for the semester; please let me know if you find any dead links or other incorrect information.  As an encouragement to let me know about my mistakes, I will award one "extra credit" homework assignment to the first student that finds a substantive mistake on the website or the materials I've posted here.  I reserve the right to determine what constitutes a "substantive mistake," but essentially I mean any error that could cause significant confusion for a student. 

August 12, 2009 - Welcome to Real Estate Investment Analysis.  This web site will contain the most up-to-date information about this course.  When in doubt about when an assignment is due or when an exam will be given, the information on this web site will be the final authority.  (Don't forget to press your "refresh" button to make sure you get the latest info.) 

That being said, this web site is currently under construction.  Right now all of the information contained here comes from when I taught this class last Fall.  Over the summer, I will be revising the course extensively.  Do not rely completely on anything you see here until classes begin.    

As you prepare for the first day of class, there are a couple of points to note:

• My PowerPoint slides for the first class (Introduction to Commercial Property Markets) have been posted in the downloads section.  In fact, any lecture notes that I make available you will be able to find on that page.  If you like, you may print these out in advance of class to help you follow the lecture. 
• Make sure you bring your financial calculator to class every day; we will use it regularly. 

Center for Real Estate home page.