What would you expect to learn in an undergraduate real estate finance class?
Designing a possible course and am thinking of including:

1. Introduction to 4 main income producing properties

     a. Retail

     b. Industrial

     c. Multifamily

     d. Industrial
2.  Introduction types of financing (equity and debt)

     a.  Touch on types of debt financing regarding construction loans, acquisition loans, etc. 

     b.  Equity partners and how they work regarding join ventures, private equity, and promotes
3. Touching on the previous topics through case studies that include market analysis, site selection, real options, and deal structuring.  

Thoughts?
[{"id": "d1t658o", "text": "The underwriting is important. Rent rolls, cash flow proformas, loan-to-value, loan-to-cost, debt service coverage ratio, operating and vacancy costs, revenue and expenses, etc", "replies": [{"id": "d1t69q7", "text": "Should that be lectured on? or just included in the cases and expects students to learn on their own.  I agree a proforma should be explained, but a lot of that is not too difficult. ", "replies": [{"id": "d1t6f1c", "text": "I'm an analyst and the underwriting is the main selling point. The location or property type doesn't matter if the loan metrics don't work. ", "replies": [{"id": "d1t8dkx", "text": "Can you recommend any free online courses that cover underwriting? ", "replies": [{"id": "d1tfqji", "text": "Unfortunately I can't say I've used any online courses. Even with my finance major I still learned everything on the job. I did a quick google search for \"commercial real estate financing underwriting\" and it looks like there's some good stuff there that covers the basics.\n\nLook for an explanation on how to go from a rent roll and operating/financial statement to a loan amount, LTV, DSCR, and valuation. It will involve everything I listed above as well as cap rates and comps.", "replies": [], "depth": 5}], "depth": 4}], "depth": 3}, {"id": "d1tcjy8", "text": "This is critically important IMHO in any look at financing.  These concepts are key to both underwriting and financial covenants in the loan docs.  Projects live and die on some of these concepts.", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d1tahmq", "text": "That looks good. If you are looking for more topics I'd think about covering securitization, tax equity financing, and other public-private deal structures. Definitely have a case focus- that makes things a lot more interesting for the students.", "replies": [{"id": "d1tukno", "text": "Yeah securitization is covered really well in another class.  I like the idea of including tax equity/affordable housing. Maybe one of the cases could focus on that.  Thanks!", "replies": [], "depth": 2}], "depth": 1}, {"id": "d1tubpo", "text": "I'm a little late here, but what about cap rates, discount rates, the effects of leverage on both returns and cash flow?", "replies": [{"id": "d1tuhv6", "text": "Definitely, I would include those through the case studies.  ", "replies": [], "depth": 2}], "depth": 1}, {"id": "d1vfpd1", "text": "There's a lot of good input from everyone here. My advice would be to make the final a case study where the students construct a simple proforma (Revenues, expenses, leasing costs, debt, and simple levered &amp; unlevered IRR) in excel. Building a model is (in my opinion) the best way to learn and have the material sink in. \n\nThe one class I took in undergraduate for real estate finance culminated in this exercise. It was definitely the most applicable/helpful thing I learned in undergrad. ", "replies": [{"id": "d1vft3f", "text": "while i like that idea, I was hoping to make that the first or second case study.  I was hoping to make the final case study constructing a proforma with a complex debt/equity structure with maybe some option pricing and having the student model it out.  Is that too much for an undergraduate course?", "replies": [{"id": "d1vgzac", "text": "Perhaps some of the more complex topics would be overwhelming assuming it's the students first introduction to CRE. There's a lot of terminology to learn/absorb. \n\nCould you create a level II course to introduce more advanced topics (various capital structures, waterfalls, buy out provisions, swap products)?  \n\n", "replies": [{"id": "d1vidhe", "text": "Very true,  I want to get them to learn to enjoy real estate and not be overwhelmed. But at the same time I want them to understand the complexity of it and that is it no longer the wild west and is a sophisticated investment opportunity.   ", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "d1w7c3r", "text": "Property management and project management. You could also take it a step further and dig in to development/redevelopment and city/county/state specific regulations", "replies": [], "depth": 1}]