University of Michigan
Real Estate Development: Building Value in Your Community
University of Michigan

Real Estate Development: Building Value in Your Community

Chase Cantrell

Instructor: Chase Cantrell

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Gain insight into a topic and learn the fundamentals.
Beginner level

Recommended experience

16 hours to complete
3 weeks at 5 hours a week
Flexible schedule
Learn at your own pace
Gain insight into a topic and learn the fundamentals.
Beginner level

Recommended experience

16 hours to complete
3 weeks at 5 hours a week
Flexible schedule
Learn at your own pace

What you'll learn

  • Describe the roles and responsibilities of a development team and the steps required to push a project forward

  • Analyze the financial returns and investment potential of a development project using a financial modeling template

  • Explore the relationship between real estate and community development,  focusing on socially responsible practices and equitable approaches

  • Assess market data, site conditions, and other metrics to ensure that due diligence is met

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Recently updated!

July 2024

Assessments

18 assignments

Taught in English

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There are 5 modules in this course

Welcome to the course! In this module, we will explore the concept of "real estate development." We'll outline the roles and responsibilities of real estate developers and discuss the steps involved in each phase of a development project. Additionally, we'll consider how important it is to manage time effectively throughout a project.

What's included

7 videos6 readings4 assignments3 discussion prompts

In this module, we will discuss strategies developers employ to evaluate which projects to pursue. We'll consider what kinds of goals motivate various developers, and discuss the implications of those motivations on project choices. We’ll close with an exploration of different types of risk, showcasing how to bring together all of the concepts discussed in this module in an authentic scenario where we walk through a project evaluation exercise.

What's included

7 videos4 readings5 assignments3 discussion prompts

In this module, we will explore the importance of conducting due diligence to identify potential risks, liabilities, and obligations before purchasing a property or pursuing a project. We will also discuss strategies to mitigate risk, including analyzing comparative sales, researching market rent data, and developing detailed construction budgets. We’ll conclude by examining how to build a project’s capital stack to ensure that there are enough capital sources to cover all of a project’s intended uses.

What's included

5 videos4 readings4 assignments2 discussion prompts

In this module, we will delve into the financial benefits of real estate and begin to understand how to analyze a project’s financial performance. We will discuss how to approach a lender and how they evaluate real estate projects. We’ll also discuss the difference between using debt in your real estate project versus exclusively using equity, and the impacts of both on a project’s financial returns. We will close by explaining return metrics and the variables needed to calculate such metrics.

What's included

6 videos4 readings2 assignments3 discussion prompts

In this final module, we will explain how to interact with and evaluate a real estate financial modeling tool known as the “pro forma”. We will demonstrate how to input assumptions, market data, and other property information and then evaluate a project’s feasibility and financial performance. By walking through a case study, we will explore the various tabs in the pro forma and how such information functions together. We will close by performing a sensitivity analysis using the pro forma to examine the best, most likely, and worst-case scenarios for the real estate project modeled in the case study.

What's included

4 videos8 readings3 assignments

Instructor

Chase Cantrell
University of Michigan
1 Course902 learners

Offered by

Recommended if you're interested in Finance

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