Real Estate Entrepreneur

Introduction to the key concepts and skill requirements for new business creation. Evaluation of personal entrepreneurship skills. Emphasis on identifying business opportunities, and process of planning for new venture start-up.

This course serves as the foundational course for real estate. A broad range of real estate subjects are introduced to the student in this course. Topics addressed include real and personal property acquisition, ownership, estates in real property, joint tenancies, partnerships, sales contracts, homesteads, deeds and taxes. Methods of financing, real estate practices, and federal as well as state regulation of the real estate business.

The Real Estate Practice course reviews the principles and practical techniques of operating a residential real estate business. This course places an emphasis on the daily activities of residential real estate brokers and salespersons. The topics covered cover legal responsibilities of agency relationships, property listing agreements, pricing a property and sales techniques, preparing and negotiating offers and purchase agreements, financing of property, closing transactions and property management. Financial advantages of investing in real estate are covered in detail including; tax advantages depreciation cash flow leverage sale-leaseback

Research, analysis and outlining logical and persuasive business plans, including market and competitive analysis, financial plans, management and operational plans, and plan outlines and executive summaries.

Choose one course from the list of Major Electives below.

Bookkeeping practices and accounting cycle for a service and merchandising sole proprietorship. Double-accounting entry system (debits and credits), journal, ledgers, adjusting and closing entries, income statement, balance sheet, and statement of owner’s equity, cash, banking activities, payroll, merchandising transactions.

Fundamental legal principles pertaining to business transactions. Introduction to the legal process. Topics include sources of law and ethics, contracts, torts, criminal law, intellectual property, agency and employment law, and business organizations.

The course begins with a detailed overview of the role of law in real estate, the roots of U.S. law including the U.S. constitution, legislatures, statutory law, as well as criminal and civil law. Legal Aspects of Real Estate covers specific California law as applied to real estate problems; origin and sources of California real estate law; contracts in general; real estate contracts; law of agency and regulation of agents; classification of property; easements; acquisition and transfer of interests of property; methods and incidents of ownership; land description; proper recordation of deeds and records. The course introduces the student to legal concepts that apply to all law as well as to real estate. A few of these are: negotiated settlement, antitrust law, price fixing, boycotts, adverse possession, alternative dispute resolution, arbitration, mediation, litigating in court, jurisdiction, discovery, motions, the trial, RESPA, escrow, enforcing judgments, appeal.

This class serves as an introduction to residential real estate appraisal. It covers the basic principles a residential real estate appraiser would use to complete an appraisal and determine the value of a residential property. Such as: Purposes of an appraisal Highest and best use Data collection methods and sources Elements of value Liquidation value Written appraisal report The course goes into detail of how an appraisal is completed and the required steps to develop an industry accepted reliable residential property value. The nationally recognized appraisal standards of United States Professional Appraisal Practice (USPAP) that appraisers must comply with are outlined and explained. Lastly, the actual appraisal report, oral and or written, is reviewed and explained to the student.

This foundational Residential Real Estate Finance course will introduce the student to the basics of residential real estate finance. The course covers the basics of borrowing money to buy a home and how the overall financing process works including; Investments and returns Ownership Investments Debt Investments Securities Investment Risk Diversification Loan buy downs Loan points Adjustable Rate Loans (ARMS) Predatory lending The course will explore the U.S. Federal fiscal and monetary policy, including the Federal Reserve System and the tools the Fed uses to regulate economic growth and implement monetary policy. The different finance markets and the financial instruments used in the mortgage industry will be reviewed in detail, including types of notes, subordination clauses, alienation and acceleration clauses and loan to value ratios. An analysis of loan and property qualification is also explained as part of the overall home financing process. In addition, the government funding programs for FHA Insured loans, VA-Guaranteed loans, Fannie Mae, Freddie Mac and Ginnie Mae (GNMAE) are explained.

Economic factors influencing real estate. Effects of real estate and business cycles on commercial and residential markets. Government fiscal and monetary policies. Urban development and renewal, regulation of land uses.

Escrow procedures for various types of business transactions with emphasis on real estate. Preparation, processing and closing of sales and escrow documents in the transferring, encumbering, and describing of real property. Title search and reports.

This course covers real estate property management, which, in a broad sense, is the administration, operation, and maintenance of a piece of real estate. The different types of managed properties explained range from rural single unit residential properties to high rise office skyscrapers in the city center. The federal, state and local laws pertaining to the management of property are reviewed in detail. Each and every property has a property manager and a property management plan with goals and objectives. This class reviews in detail the structure, strategy, implementation, including government and legal aspects of managing properties large and small. The class explores the complexities of emergency procedures, risk management, criminal and security precautions and limiting the risk of all kinds as it relates to managing and owning real estate.

Practices essential to the management and operation of a real estate office; recruiting and management of sales personnel, office location, types of ownership, advertising, record keeping, budgeting, areas of specialization.