Introduction to Real Estate Investment Analysis

Invest in your future. Master the metrics, formulas, vocabulary, and techniques used by successful real estate investors and developers.

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Real estate investing is a numbers game, and the only way to win is by understanding how the numbers work. How do I use a building's current rents to estimate its value? What kind of cash flow and return on investment can I expect? Real estate expert Frank Gallinelli, ivy-league professor, best-selling author, and founder of RealData Software, teaches this master class. You'll learn how to make smart income-property investments, and how to separate the winners from the losers.

Master the metrics, formulas, vocabulary, and techniques used by experienced investors.

The course is divided into a series of modules, as listed below. No long-winded dissertations here. Each module contains a series of short videos that will help you focus on the key concepts you really need to understand.

  • The Four Basic Returns
  • The Vocabulary of Real Estate Investing
  • The APOD and Income Capitalization
  • Time Value of Money
  • Real Estate Pro Formas
  • Discounted Cash Flow Analysis
  • Real Estate Investment Metrics
  • Mortgage Financing and Underwriting
  • Case Studies: Apartment, Mixed-Use, Triple-Net
  • Real Estate Partnerships
  • Real Estate Development

Learn How Successful Real Estate Investors Choose Which Rental Properties to Buy, How Much to Pay

Based on the writings and teaching of Frank Gallinelli, best-selling author and grad-school adjunct professor at Columbia University, this comprehensive course will show you how to perform in-depth analysis of an income-property so you can make smart and profitable investment choices.

From due diligence to extended cash flow and resale analysis, you'll learn the techniques that successful investors use when they explore a potential acquisition.

  • How do you estimate current market value?
  • How do you calculate and interpret key rate-of-return metrics? Which ones matter most?
  • What will your lender look for when you ask for financing? How much can you expect?
  • How do you evaluate a property's long-term potential to meet your investment goals? What are possible warning signs to look out for?
  • How do you plan out and evaluate a development or rehab project?

This course provides you with 51 videos that are packed with information. You'll find additional resources, such as practice problems and simple spreadsheet tools, to help you master essential calculations.

The course will take you through a series of case studies, where you can first try your hand at working independently through property analyses, given facts as you might have them presented to you in real life. Then you can view a series of lectures showing Frank's analysis of each case.

When you complete this course, you'll know how to look at a potential real estate investment with a critical eye. You'll know how to “run the numbers" like a professional and decide at what price and on what terms a particular property makes good sense to you. Success belongs to those who take the time to learn to do things the right way.

Did you know? ... you can watch the video lessons on your computer, your tablet, or your phone

"I just wanted to thank Frank and the team for offering such a great product. I've been looking for a stronger forward but sophisticated learning experience to fine tune my skills as I am leaning toward larger income properties. Thanks for sharing your time and knowledge"

-- Kevin Sweet

Who Should Take This Course?

  • Real estate professionals — Experienced investors and brokers recognize the benefit of updating, refreshing, and perhaps even enhancing their core skills. You should never stop learning.
  • Real estate investing novices — Learn the techniques used by seasoned, successful investors so you can decide what to buy, how much to pay— and learn to avoid common, costly mistakes made by beginners
  • Math-o-phobes — If you’ve avoided studying investment analysis because you’re afraid of the math, this is definitely the course for you. Clear and simple explanations, examples, and practice exercises will take you over that hurdle.
  • Students in a real estate or finance curriculum — For more than a decade, the instructor has taught material like this in his graduate school classes at Columbia University. You'll access quality education in this course.

Your Instructor

Frank Gallinelli
Frank Gallinelli

Frank Gallinelli is the author of the best-selling book, "What Every Real Estate Investor Needs to Know About Cash Flow..." now in its third edition, as well as other books and numerous articles on real estate investing and finance. A graduate of Yale University, he serves as Adjunct Assistant Professor of Real Estate Development at Columbia University. Gallinelli has been involved in real estate for more than 40 years and is the founder and president of RealData, a real estate software firm that has offered analysis and presentation tools for investors and developers since 1982. RealData provides educational resources for investors, as well as software and other tools for use in academic environments.

What are our students saying about this course?

This is a great video series to learn how to calculate and evaluate income producing properties. The math is the same for all levels of investors. Frank makes sure that you don't just accept what is given to you but explains how to look beyond and see the big picture of the potential investment.

A helpful, insightful, and well-structured course that can take you from newbie to capable investor in relatively short order. Complex concepts are well explained and well illustrated with examples.

I felt this course was extremely useful for my start of multi-family apt investment. I had Frank's book, but this course was perfect for me. I have full confidence my ability to analyze different properties.

This is an AWESOME course. I only passed through once however, I will go through it again. I believe if I can master the thought process as well as the the tools and techniques. I will have a competitive edge in making, presenting and operating all property classes. Thank you for your time hard work and due diligence putting this course together. It is everything you're not told at the seminars.

I felt that this course has properly formed me to make informed, calculated and intelligent decisions in regards to my future real estate investment portfolio. You're the man Frank! I will highly recommend this course to anyone interested in the real estate investment world.

“Dear Mr. Gallinelli, thanks so much for explaining the hierarchy of a pro forma for an income producing property in a very simple way. Your skill to translate investment concepts in a clear fashion to real estate investors is outstanding” --Maibi Rojas

“…thank you for your relentless passion to make sure your student succeeds. I am passionate about learning and I appreciate you so much for this.” -- Ola Ibiwoye

“Thanks. These are the best courses ever!” Ken Vance

Great course - especially for a beginner commercial investor like me.

The case studies were very very helpful to better understand the lesson in not only mathematically/numbers, but also conceptually and how a certain situation goes by in real life.

Your skill to translate investment concepts in a clear fashion to real estate investors is outstanding.

Class Curriculum

  Case Study Introduction
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  The Case Studies — A Prologue
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  The Case Studies — An Epilogue
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  Brief survey -- please share your thoughts
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Frequently Asked Questions

When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
What if I am unhappy with the course?
We would never want you to be unhappy! If you are unsatisfied with this course, contact us in the first 30 days and we will refund the purchase price of the course.
Do I need to have a knowledge of finance in order to benefit from this course?

We make no assumptions about your prior background or experience. The course will start with the basics, and from there it will move gradually into topics of greater depth.

Your syllabus shows a lot of metrics and calculations. Do I need to be a math whiz?

Not at all. You'll find the math to be surprisingly simple, and I take special care to explain it clearly, with plenty of examples. Real estate investing is all about the numbers, and success comes to those who understand how the numbers work and what they mean.

How long is the course?

The course includes 54 videos -- and growing. Don't worry about falling asleep, because each video is about 7 to 18 minutes long. You can watch each lesson as many times as you like to master its content. You will be able to access additional video lessons as they are added.

Is the course just the videos?

No. For lessons that focus on metrics or calculations, we provide a good number of practice problems and answers. We also include several spreadsheet templates that you can use to make many of the calculations and perform some of the analyses discussed in the course. We also provide quizzes so you can test your understanding of the material you've studied.

Do I need to have the RealData software in order to take the course?

You don't need any outside software to take the course, although we do recommend you have Excel or a similar spreadsheet so that you can take advantage of the templates we provide. When you begin working on real deals of your own, we hope you'll take advantage of the powerful and sophisticated tools offered at

Do you have a course that will teach me more about the RealData investment analysis software?
Yes, we do. You can find it at... That course will take you through the analysis of a mixed-use property using the REIA Pro software.
Can I watch the course videos on my mobile device?
Yes! You can watch the course videos on your smartphone or tablet.

"The course taught the most important concepts that I need to know in my early stage of learning real estate finance. The instructor has a keen talent for explaining the initially mind-boggling concepts in a painless way through easy-to-understand language and examples. I recommend this course to anyone who has any interest in the real estate field."

Erica Lee

Professor Gallinelli has the magic to make complicated concepts easy to understand. ... I feel much more confident to analyze a property based on all the available information and to make informed decisions with limited information.

Christina Chao

I found the course to be the perfect complement to your book. I appreciated the fact that each video is short which allows the user to digest the material in a simple fashion. I also like the fact that you incorporated a quiz to test my knowledge of each concept. All in all it was really what I was hoping for and I have way more confidence today when analyzing income properties than I did before the course.

—John Cameli

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