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Report Thread starter 2 weeks ago
Hi, I completed my undergraduate degree last year. I would like to join a masters course which concentrates on Real Estate.

Question 1:
Does Maths play a major role in the course as I am not good at maths.

Question 2:
I am planning to do a short course from Nottingham Trent University in Real Estate Investment and Real Estate Management and Agency. Would it be wise to take this up and then concentrate on Masters?

Question 3:
Selection of University (Please suggest a University which is driven more on projects and practicals and less depended on theories and written exam)
1. Henley Business School
2. Nottingham Trent University
3. Northumbria University - (2nd year being advanced practice)
4. Birmingham City University

I have also completed a few courses such as Pathways to Property by Henley Business School and just about to complete Ecodesign for cities and suburbs by University of British Columbia. I find it very interesting as there’s less of theory and more case studies which I am good at researching and modelling.

My strength: Case studies & practical knowledge.
My weakness: Theory & Maths.

Thank you for reading. God bless.
Badges: 6
Report 2 weeks ago
For most there should be nothing beyond GCSE maths. You need the concept that the value of money in the future is less than the value of money now and we basically have some equations that help quantify this, or you get Excel to do it for you, or you find an online calculator, or you find a table of numbers that does it for you.

eg: I have an investment property with 10 years left on the lease, and someone is paying me £50,000 a year rent, I want to know how much that rent is worth in today's money. Clearly £50,000 a year for 10 years I'm going to get back £500,000 over the period, but I'd pay less than that up front for that income stream. Maybe about £400,000 might be a reasonable lump sum to pay for £50,000 a year for 10 years. I need to go and look at the market evidence - what are other investors out there prepared to pay.

So I look at the yields (basically interest rates on investment property) in the market and say I determine that investors are getting a return of say 5%. I then have everything I need to value that income stream. I can either use the equations and muck about on the calculator or I look it up in the table, in this case the table I want is called the Years Purchase single rate, I go to my book (Parry's tables) look up 10 years, 5% and it tells me the multiplier is 7.72

So for each £1 per year income for 10 years in a world where investors want a 5% return I should pay £7.72. So I'm going to pay £7.72 today and get £10 back spread over 10 years. But I'm not buying an income of £1 per year, but £50,000.
So 50,000 x 7.72 = £386,000 Is what that income is worth to me today.

A bit of a sense check - I'm going to get £50,000 a year for 10 years and I'm offering to pay £386,000 in exchange for that - that seems plausible.

As long as you can get hold of that sort of concept then that is the only real potential stumbling block mathswise. A quick google for Parry's tables should give you the idea in a bit more detail.

Most of the MSc Real Estate courses are geared up especially for people who haven't done something similar before so the couple of short courses you've done should set you up very well.

This is now the point where I need to try and be objective (and will most certainly fail but I'm trying to be honest about it). I did my masters at Northumbria (via distance learning) and did my PhD at Reading and they are good options, Nottingham Trent is also a good option. However, I would recommend BCU (as the course leader I would, wouldn't I), we have no exams and assessments are practically based, which seems to play to your strengths, eg: I've just selected a multi-use investment property as the main piece of valuation assessment - this is a real life investment property that is currently being marketed for some millions - so as much as possible we try and make assessments simulations of real world tasks.

That's enough with the advert so do go and look and consider your choices and what fits you best. Even though we're in the middle of September it is still possible to apply to start this autumn - I realise that might feel a bit rushed, but it would allow you to get going straight away.

Hope that's of some use.

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