FIN 3430: Real Estate Finance

Dr. Kenneth J. Wiant

Office:                         JH 334                                                            

Telephone:                  372-3878

E-mail:                         kwiant@tntech.edu

Office Hours:               Mon. Wed. Fri.            12:00 p.m. –   1:00 p.m.

                                    Tue. Thu.                     9:00 a.m. – 11:00 a.m.

                                                                         and by appointment.

 

COURSE

DESCRIPTION

Principles of real estate finance as applied to the financing of residential and commercial real estate, including mortgage pricing, valuation, and real estate appraisal.

 

RESOURCES

Required: 

·         Real Estate Finance & Investments, William B. Brueggeman, Jeffrey D. Fisher, Eleventh ed., McGraw-Hill/Irwin (2002), with e-instruction activation code.

·         Business calculator

·         e-instruction Course Performance System keypad.

 

 

TEACHING METHODS

 

Lecture, discussion, reading and written assignments.

 

International Business Content

 

None

 

Ethics Content

 

Part I

GRADING

Course grades will be based upon your performance on three exams (two mid-terms and final) worth 100 points each and quizzes, class participation, and homework, together worth 100 points. Exams will cover the assigned readings from the text, problems, and class lectures. Your final grade will be based on the following schedule:

 

 

 

                        Total Points              Grade

                         360-400                       A

                         320-359                       B

                         280-319                       C

                         240-279                       D

                         less than 240                F

 

 

 

Make-up tests will not be given.  Missed quizzes result in a zero for the quiz. Excused missed exams will increase the weight of the final exam.  A documented excuse must be provided and the instructor must be notified prior to the test.

 

 

 

 

ATTENDANCE

Attendance with text, keypad, and calculator is expected each class period.

 

Material missed should be obtained from your colleagues.  Prior lectures or problems presented in class are not repeated.

 

 

ACADEMIC

MISCONDUCT

A fundamental principle of academic, business and community life is honesty.  Violation of this ethical concept will result in penalties ranging from a grade of "F" on the work and referral to the Vice President for Student Affairs.   Consult your Student Handbook.

 

Students with Disabilites

Students with a disability requiring accommodations should contact the Office of Disability Services (ODS). An Accommodation Request (AR) should be completed as soon as possible, preferably by the end of the first week of the course. The ODS is located in the Roaden University Center, Room 112; phone 372-6119."

 

                                                        Tentative Course Outline

                                    TOPIC                                                                      CHAPTERS

 

I.

II.

III.

IV.

V.

VI.

VII.

VIII.

IX.

X.

XI.

XII.

XIII.

 

Introduction

Legal Considerations in Real Estate Finance

The Interest Factor in Financing

Fixed Rate Mortgage Loans

Variable Rate Mortgage Loans

Underwriting and Financing Residential Properties

Residential Financial Analysis

Introduction to Income-Producing Properties

Appraisal                                

Leases                                   

Investment and Risk Analysis

Financial Leverage

Real Estate Capital Market

1

2

3

4

5

6

7

8

8

9

9, 10

11

17, 19

 

 

This syllabus is subject to change.