FIN 4440- REAL ESTATE FINANCE

COURSE SYLLABUS-Fall 2011

Instructor: Dr. Doug Timmons
Office:BAS N326
Phone: 898-5750, or call departmental office (898-2520), Fax: 898-5596
Email:
Office Hours: MWF 10:15-11:15am, W 4:00-6:00pm

Course Prerequisite: FIN 2450and FIN 3000 or 3010, or consent of instructor.Course Text:Real Estate Finance and Investments, 14th ed., by Brueggeman and Fisher, Irwin.

Calculator Requirement: This class will require the use of a financial calculator.

Course Content: This course is intended to give the student a foundation in the following subjects: property law, mortgage underwriting, mortgage insurance, financial analysis, appraisal practices, real estate tax law, investment analysis, financial institutions, real estate development, and capital markets. This course is oriented toward students who have had some exposure to basic finance, and perhaps real estate principles, and desire a more advanced treatment of the subject. The emphasis of the text being used will be real estate financial analysis.

Text Coverage: Chapter- Topic

1Introduction-Legal Concepts
2Notes and Mortgages
3 Interest Factors

4 Fixed Rate Mortgage Loans
5 Adjustable Rate and Variable Pmt. Mortgages
6 Residential Financial Analysis
8Underwriting and Financing Residential Properties + (pp. 188-195)

9 Introduction to Commercial Property
10 Valuation of Income Properties
11 Investment and Taxation and Risk Analysis + (pp.355-366)

12 Leverage(320-330)
16 Construction Loans (429-447) and/or Handout
19/20 Secondary Mortgage Markets (516-531,543-552)and/or Handout
21 REITS (580-591, 595-596) and/or Handout

Testing and Grading:

Exams--(4)85%

Project--(1)10%

Class, quizzes, homework--5%

Comments:

  1. Final Exam is not comprehensive.
  2. Project(s) can be done in groups of two.
  3. Exam dates will be announced minimally one week prior to the exam.
  4. Exams and project(s) are to be completed on schedule! Late work will be severely penalized unless the student has a dire emergency.
  5. There is no such thing as "extra credit."
  6. Solutions Manual to text, handouts, and power point slides available on S-drive (password:re4440)

Special Notes:

Any student with a disability who needs accommodation for this class should talk with the instructor and/or the campus disability issues coordinator as soon as possible.

To retain Tennessee Education Lottery Scholarship eligibility, you must earn a cumulative TELS GPA of 2.75 after 24 attempted hours and acumulative TELS GPA of 3.0 thereafter. A grade of C, D, F, or I in this class may negatively impact TELS eligibility. Dropping a class after 14days may also impact eligibility. If you withdraw from this class and it results in an enrollment status of less than full time, you may loseeligibility for your lottery scholarship. For additional lottery scholarship rules please refer to your Lottery Statement of Understanding form,contact the MTSU financial aid office at 898-2830, or review lottery scholarship requirements on the Web at

Grading Scale

Undergraduate Students

A>90

B+87.5-89.9

B82.5-87.49

B-80-82.49

C+77.5-79.99

C72.5-77.49

C-70-72.49

D+67.5-69.99

D62.5-67.49

D-60-62.49

F<60

FIN4440 CALENDAR

AUG.29

31

SEP.2

5-Labor day, no classes

7

9

12

14

16

19

21

23

26

28

30

OCT.3

5

7

10

12

14

17-fall break, no classes

19

21

24

26

28

31

NOV.2

4

7

9

11

14

16

18

21

23

25- Thanksgiving

28

30

DEC.2

5

7- Last Day of Classes

14- final exam at 10am. If take home final, submit exam at my office before noon.