Description

Course Description:

Disclaimer: To achieve your official CHAM Asset Management Specialist (AMS) designation, you will need to complete all of the following courses: Nuts and Bolts of Asset Management (AM121), Asset Management Fundamentals (AM290), Financial Fundamentals for Asset Managers (AM291). 

This course is an introduction to real estate finance, exploring analytical concepts that are critical for the professional asset manager. It covers basic tools for analyzing properties’ financial health, for determining their market value, and for developing multi-year financial projections.

You will get to work on three case studies to help you understand how to apply these financial concepts to real situations:

• Maximizing cash flow - Above the line and below the line expenses, cash flow impacts, improving cash flow, and understanding the asset manager’s role in maximizing cash flow
• Managing Debt - Loan calculations, amortization, interest compounding, refinancing for capital, debt calculation
• Audit Analysis - What you can learn from an audit and how to track debt
• Taxes – Tax benefits of real estate ownership
• Waterfall - How the waterfall of cash flow affects affordable and LIHTC properties

This course includes a final exam, which must be successfully completed with a passing score of 70 or above in order to achieve the CHAM Asset Management Specialist (AMS) certification and designation.

The AMS certification is a prerequisite for CHAM’s Certified Housing Asset Manager designation.

Duration: 11 Hours

CEUs:
1 Credit

IMPORTANT: Part 1 in this series, CHAM Nuts and Bolts, and part 2, Asset Management Fundamentals, are prerequisites to this course and must be taken prior to enrollment. If you have already completed Part 1 and/or Part 2 in a live training, please select the "Request Waiver" link in the Prerequisites section above to complete this prerequisite. To obtain the AMS designation, learners will have up to 12 months to complete all prerequisite content and receive a passing score on the final exam.

Instructors:
Laurie Gould, Viva Consulting, LLC

Audience:
Asset managers and analysts, especially people new to the field; developers, property managers, accounting staff. For staff at nonprofit and for-profit owners, lenders, syndicators, investors, government, HFAs, and PHAs, including individuals who oversee asset management, such as executive directors, CEOs and CFOs. It is recommended that learners have a basic understanding of affordable housing and a working knowledge of Excel.

Learning Objectives:

• Understand and enhance the financial value of affordable housing
• Identify the asset management function in the life of the property
• Analyze the main drivers of property cash flow: cash flow, tax benefits, and long-term value
• Evaluate the impact of debt refinance and explain how interest compounding, refinancing for capital, debt calculation, and loan amortization are key concepts to understand for debt management
• Recognize the importance of conducting an accurate audit
• The ways in which accurate audits can assist with debt mitigation
• Understand how depreciation, tax credits, and expenses are determined
• Explain the difference between capitalized costs and expenses
• Conceptualize how cash flows in a waterfall and how waterfall cash flow affects affordable and LIHTC properties
• Estimate a property's value using economic valuation and the cap rate method
• How to prepare multi-year Pro Formas and the importance of calculating accurate Pro Formas

Pricing and Payment Options:

• Credit Card payment is preferred. Use the "Add to Cart" button and proceed to checkout.
• Check payment available by request.
• Special Pricing available for Subscribers.

Disclaimer

The information presented is for general reference only. HAI Group makes no representation or warranty about the accuracy or applicability of this information for any particular use or circumstance. Your use of this information is at your own discretion and risk. HAI Group and any author or contributor identified herein assume no responsibility for your use of this information. You should consult with your legal, professional or subject matter advisor before implementing any new strategy or policy.