Real estate investments and business brokerage

Why people invest in real estate, what can go wrong, the three big risks of illiquidity, leverage and management, and the main types of investment property.

How borrowing magnifies an investor's return, when leverage helps (positive leverage), when it hurts (negative leverage), and how to work a simple leverage problem.

Step by step from potential gross income to effective gross income, net operating income and before-tax cash flow, including what counts as an operating expense and what does not.

Cash-on-cash return, the capitalization rate as a return measure, simple return on investment, and the questions an investor asks before buying, such as risk, liquidity and debt coverage.

Why a Florida real estate license covers selling a business, what is actually sold (tangible assets, intangible assets and goodwill), and the three broad ways a business is valued.