Real Estate Investing Strategies (Online)

Evaluate and finance real estate acquisitions

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Course Dates

STARTS ON

March 30, 2023

Course Duration

DURATION

6 weeks, online
4–6 hours per week

Course Fee

PROGRAM FEE

US$2,600

Course Information Flexible payment available

Maximize Returns and Mitigate Risk in Real Estate Markets

Commercial property sales in the United States totaled a record US$809 billion in 2021 according to data organization Real Capital Analytics, nearly doubling that of 2020 and exceeding the previous record of about US$600 billion in 2019. Given this trend, real estate investing is seeing abundant opportunities across emerging and established sectors. However, with volatility in markets and lending rates, maximizing returns on real estate investments requires a deep understanding of the nuances, variables, and risks that drive ever-fluctuating property markets. A challenge for most traditional investors is that the real estate market is less liquid and transparent than stocks, and it’s often difficult to get the necessary information all in one place to make fully informed investment decisions.

Taught by faculty from Columbia Business School’s esteemed Paul Milstein Center for Real Estate, this program provides a quality hands-on learning experience in just six weeks to prepare you with the real estate valuation skills and investment methodologies to support smarter investment decisions. You will gain industry-leading skills in creating financial models, analyzing cash flows, determining values, and measuring returns of real estate investments.

$11.4 trillion

Size of the professionally managed global real estate investment market in 2021, an increase of 8.5 percent from 2020.

SOURCE: MSCI

68%

Increase in commercial real estate transaction activity during the first three months of 2022 compared to the same period for 2021.

SOURCE: PWC

$119,731

As of August 26, 2022, the average annual pay for a real estate investor in the United States. Investors with the title of real estate professional can earn an estimated 53.7 percent more or around US$180,000 per year.

SOURCE: ZIP RECRUITER

Key Takeaways

After participating in this program, you will be able to:

  • Calculate real estate valuation based on capitalization rate and cash flow as well as conduct pro forma analyses
  • Examine how mortgage financing affects the risk and return on investment (ROI) of real estate investments
  • Create new opportunities to recapitalize and reposition troubled properties and organizations by applying value investing strategies to the real estate industry
  • Evaluate the risks and rewards associated with land, development, and affordable housing investments
  • Analyze residential property data to support more informed investment decisions

Who Should Attend?

Real estate investors looking to offer better ROI to their clients, increase awareness of global investment opportunities, and strengthen brand reputation. Roles that will benefit most include:

  • Real estate fund manager
  • Real estate investment strategist
  • Owner or manager of family funds
  • Consultant

Mid- to senior-level fund managers and investors interested in including real estate as part of an overall investment portfolio and understanding frameworks for making profitable real estate investments. Roles that will benefit most include:

  • Investment strategist
  • Financial advisor
  • Fund manager
  • Investment manager

CXOs and business professionals seeking to develop expertise in large-scale real estate investments and expand infrastructure to support business growth. Roles that will benefit most include:

  • Chief investment officer
  • Chief financial officer
  • President
  • Vice president

Real estate professionals looking to gain insights into future trends and developments in real estate financing. Roles that will benefit most include:

  • Chief executive officer
  • Director
  • Regional head
  • Manager

Program Modules

In each module, leading faculty from Columbia Business School’s Paul Milstein Center for Real Estate will focus on the latest strategies for applying value investing to the real estate industry, determining valuation based on capitalization rate and cash flow, and analyzing property data to support more informed investment decisions.

Module 1:

Real Estate Cash Flow Fundamentals

Get started with the foundational elements of a platform ecosystem model for real estate investment compared to other business models. Learn essential elements of cash flow analysis, calculating net operating income and leasing revenue, and cost responsibility based on lease type.

Module 2:

Real Estate Valuation and Capitalization Rates

Apply the cash flow fundamentals in Module 1 to design and build a digital platform for real estate valuation and capitalization. Get hands-on experience in assessing capitalization rates, and projecting reversion value, operating income, and cost of capital.

Module 3:

Real Estate Financing and Taxes

Analyze frameworks for financing real estate acquisitions, and how mortgage financing affects risk and return on investment of real estate investments. Get real-world insights into the nuances of real estate financing and tax implications through case study assignments and discussions.

Module 4:

Private Equity and Public Markets Investing

Learn how to find new opportunities to recapitalize and reposition troubled properties and companies through private equity funds (PEFs) and real estate investment trusts (REITs). Discover how to use these investment modes to add real estate to your overall investment portfolio and make them profitable.

Module 5:

Housing Markets and Buy vs. Rent

Learn to use a commercial real estate framework to analyze residential property data to determine investment potential. Also explore the economic and social variables affecting housing markets and other real estate data to forecast property appreciation.

Module 6:

Land, Development, and Affordable Housing

Explore the risks and rewards associated with land, development, and affordable housing. Evaluate the costs of building new property and the option value of waiting versus building. Also estimate the value of land based on several given scenarios.

Module 1:

Real Estate Cash Flow Fundamentals

Get started with the foundational elements of a platform ecosystem model for real estate investment compared to other business models. Learn essential elements of cash flow analysis, calculating net operating income and leasing revenue, and cost responsibility based on lease type.

Module 4:

Private Equity and Public Markets Investing

Learn how to find new opportunities to recapitalize and reposition troubled properties and companies through private equity funds (PEFs) and real estate investment trusts (REITs). Discover how to use these investment modes to add real estate to your overall investment portfolio and make them profitable.

Module 2:

Real Estate Valuation and Capitalization Rates

Apply the cash flow fundamentals in Module 1 to design and build a digital platform for real estate valuation and capitalization. Get hands-on experience in assessing capitalization rates, and projecting reversion value, operating income, and cost of capital.

Module 5:

Housing Markets and Buy vs. Rent

Learn to use a commercial real estate framework to analyze residential property data to determine investment potential. Also explore the economic and social variables affecting housing markets and other real estate data to forecast property appreciation.

Module 3:

Real Estate Financing and Taxes

Analyze frameworks for financing real estate acquisitions, and how mortgage financing affects risk and return on investment of real estate investments. Get real-world insights into the nuances of real estate financing and tax implications through case study assignments and discussions.

Module 6:

Land, Development, and Affordable Housing

Explore the risks and rewards associated with land, development, and affordable housing. Evaluate the costs of building new property and the option value of waiting versus building. Also estimate the value of land based on several given scenarios.

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Program Experience

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Mini-Lessons

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Case Studies

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Real-World Examples

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Knowledge Checks

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Guest Speaker Interview

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Hands-On Activities

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Discussions

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Live Sessions

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Program Leader Feedback

Case Studies

Throughout the six-week program, the faculty will bring the real estate investment concepts in each module to life as part of an ongoing commercial real estate case study. Learn successful investment strategies from real-world examples. Additional case studies include Facebook/Meta, Google, Amazon, Apple, and WeWork.

Amazon

Amazon

Facebook/Meta

Facebook/Meta

Google

Google

Apple

Apple

WeWork

WeWork

Recorded Guest Interviews

Meet David Sherman, co-founder and president of Metropolitan Real Estate and former REIT analyst and investment banker, who will share his experience and insights on the real estate investment strategies and modes you will learn in this program.

Hands-On Activities

Enhance your investment tool kit with proven analysis templates and methodologies that will withstand market changes and remain relevant over time.

Program Faculty

Faculty Member Tomasz Piskorski

Tomasz Piskorski

Edward S. Gordon Professor of Real Estate in Finance, Columbia Business School

Tomasz Piskorski is the Edward S. Gordon Professor of Real Estate in the Finance Division at Columbia Business School. He is also a research associate at the National Bureau of Economic Research and serves on the Academic Research Council of the Housing Finance Policy Center at the Urban Institute... More info

Faculty Member Dr. Christopher J. Mayer

Dr. Christopher J. Mayer

Paul Milstein Professor of Real Estate in Finance, Columbia Business School

Dr. Christopher Mayer is the Paul Milstein Professor of Real Estate at Columbia Business School. He serves as a research associate at the National Bureau of Economic Research, a director of the National Reverse Mortgage Lenders Association, and a member of the academic advisory boards for Standard and Poor’s and the Housing Policy Center at the Urban Institute... More info

Image of the faculty Stijn Van Nieuwerburgh

Stijn Van Nieuwerburgh

Earle W. Kazis and Benjamin Schore Professor of Real Estateand Professor of Finance, Columbia Business School

Stijn Van Nieuwerburgh’s research lies at the intersection of housing, asset pricing, and macroeconomics. He has also worked on regional housing prices, households’ mortgage choice, commercial real estate price formation, the impact of foreign buyers on the housing market, and mortgage market design... More info

Certificate

Example image of certificate of participation that will be awarded upon completion of the program

Certificate

Upon completion of the Real Estate Investing Strategies (Online) program, you will receive a certificate of participation from Columbia Business School Executive Education—a powerful testament to your management capabilities—and add two days towards a  Certificate in Business Excellence.

Your verified digital certificate will be issued in your legal name and emailed to you, at no additional cost, upon completion of the program as per the stipulated requirements. All certificate images are for illustrative purposes only and may be subject to change at the discretion of Columbia Business School Executive Education.

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