Upon successful completion of the course, students will be able to: evaluate fundamental legal concepts (e.g., property rights, title assurance) and the structure of financial instruments (e.g., promissory notes, mortgages, deeds of trust) to mitigate risk in real estate transactions; apply Time Value of Money (TVM) principles—including Present Value and Future Value calculations—to accurately determine loan balances, monthly payments, and total interest paid for various mortgage types; compare and contrast the risk-return profiles of fixed-rate, adjustable-rate, and floating-rate mortgages and apply residential underwriting criteria (LTV, DTI, creditworthiness) to financing decisions; analyze the drivers of income for commercial properties, including the role of leases (e.g., Gross, Net) and the influence of the market for space (vacancy, absorption rate) on a property’s Net Operating Income (NOI); use the income capitalization approach and the sales comparison approach to estimate the market value of properties and apply financial metrics like the Capitalization Rate (Cap Rate) and Cash-on-Cash Return to evaluate investment feasibility; assess, quantify, and propose strategies to manage key real estate risks, including market risk, interest rate risk, liquidity risk, and financial leverage risk, in various investment scenarios; and analyze specialized financing structures for corporate real estate, project development, and land development and understand the strategic financial impact of transactions like sale-leasebacks.