Real Estate Minor Summer Institute
A degree with real world knowledge and practical skills!
The Real Estate Summer Minor Institute is an intensive, 8-week program designed to help students obtain the essential knowledge and skills for entry level positions and careers in the real estate industry, both residential and commercial. The program provides a strong foundation on Real Estate as a business, specifically focusing on careers as a real estate investor, owner or developer, in real estate finance and in real estate consulting. In addition, the minor provides robust knowledge in real estate market analysis, due diligence, legal concepts, project analysis, and tax credits. The program also encourages sustainability by preparing students to take the LEED GA exam.
- 16 credits
- 8 weeks
- from May 15 to July 6, 2017
- Tuition $10,000
I. RESM-3010 Principles of Real Estate I (3 credits)
Part I of a two-part introductory course to the real estate summer minor program. This course is designed to introduce students to the field of real estate and real estate career opportunities. Topics include the unique nature of real estate and why it is different from other segments of the economy, the many professional disciplines involved in real estate development, real estate market sectors and market economies, land conveyance systems and acquisition; valuation of real estate and how it evolves; property taxes, fees and assessments; property rights and responsibilities, basic contract law and its application to real estate, real estate agency and brokerage, leasing of real estate, zoning and land use controls, and environmental considerations in conjunction with real estate.
II. RESM 3030 Real Estate Finance and Market Analysis (3 credits)
This class develops skills in two specific areas of the real estate business- finances and market analysis. The first area provides fundamental knowledge on financial tools, incentives and analytical methods to make investment decisions in real estate. The second area allows investors to determine when and where to buy property, and how to compare investment options. Proficient use of Excel as a calculation tool is taught throughout the course.
III. RESM-3040 Fundamentals of Sustainable Real Estate Development- Residential and Commercial (4 credits)
During the first two-week session, the course will focus on the concepts of innovative “green” building, site design and construction as a methodology to save resources, including energy, building materials, and money; to create holistically designed spaces at a range of scales that provide value to occupants and owners; and to positively impact the surrounding community and environmental context in multiple ways. Students will also gain the necessary knowledge to take the LEED Green Associate certification exam.
During the second six-week session, the class shifts focus into examining the developer’s role throughout a project timeline including; market study analysis, financial modeling, comparables analysis, community outreach, negotiation, tax credit analysis, and other due diligence items. In groups, students select a blighted property to use as their case-study model, and ultimately prepare an equity investment proposal to share with a panel of industry professionals.
IV. RESM-3020 Principles of Real Estate II (3 credits)
The second part of Principles of Real Estate goes deeper into the implications, financial, technical and legal of owning, using and profiting from real estate. It expands on the basic concepts of being a developer, the development team and process. Topics of study include letters of intent and purchase agreements; effective negotiations; risk management in real estate; structuring business entities for owning real estate; basic financing avenues and loan documentation principles; the acquisition and disposition of real estate process; a review of the fair housing laws and their historical context; real estate and the public sector; the construction process, including contracting and risk management; and the overall real estate development process, including the development team, members and responsibilities.
V. RESM-3050 Real Estate Asset Management and Operations (3 credits)
This class explores what happens after a property has been bought or constructed. Students will learn the implications of owning property, obligations to the public and the community, and how to manage property through a variety of methods. It also includes topics on how to implement preventive maintenance, as well as managing third parties involved in the operations side of the real estate business.
The Real Estate Minor Summer Institute takes place in New Orleans on Tulane's uptown campus in Richardson Memorial Hall. The program is broken down into two consecutive, 4-week sessions-Monday, May 15 –June 8 and Monday, June 12 – Thursday, July 6. Both summer sessions are required. Classes are scheduled Monday through Thursday, 8:30am to 5pm, with scheduled breaks.
No. It is important that the integrity of the minor remains constant, and that the curriculum is completed in one summer.
No. Final exams are taken during the last week of each session.
No. The Real Estate Minor Summer Institute is currently open to Tulane undergraduates only and recent graduates.
Yes. Participants of the program are expected to complete assignments and are tested to ensure that at the end of the program the student has a solid grasp on the fundamentals of real estate.
On-campus housing is available but not included in the $10,000 tuition. Students apply to housing separately. Housing applications for the summer will open April 1, 2017. For more answers to frequently asked housing and residential life questions, click the Housing & Student Life link on the left-hand menu of the homepage.
While housing is optional, participants are strongly encouraged to reside on campus, as this component has proven to expand the learning environment outside of the classroom and accelerate group discussions and networking. Further, the "dorm life" exposes students to different ideas, cultures, personalities and experiences, allowing students to become better-rounded, open-minded individuals.
While meal plans are not included in the cost of tuition, the program does cater one or two complimentary meals each week throughout the program. Wavebuck$ do not roll over for use. Specifically, Wavebuck$ and NOLAbuck$ expire at the end of the spring semester, typically mid-May.
Dress is real estate casual during classes and meetings, but real estate professional clothing will be required on occasion. You will be given a list of necessary items prior to arrival.
The Real Estate Minor Summer Institute offers participants the unique opportunity to earn 16 academic credits towards a Tulane undergraduate degree while exploring a fresh curriculum, practicing real-world, hands-on skills, and strengthening marketability. Further, this is the only real estate minor program in the New Orleans area offered only during the summer. After completion, you will gain the competitive edge that today's employers seek.
- Learn the fundamentals in the business of real estate
- Resume enhancement
- To diversify your academic portfolio
- Additional training for a career path in something such as finance or accounting
- To improve interpersonal skills and gain confidence
- To complement one part of academic training with another that provides both practical and theoretical knowledge
- To have an advantage when applying to graduate school
- Networking opportunities
- To earn your undergraduate degree one semester early
The total cost of tuition (exclusive of university and/or course fees) is $10,000. Tuition covers the cost of the five required courses (16 credits), LEED GA exam and study materials, summer membership to the Reily Center for Student Recreation, networking events, and all extracurricular events, including all associated costs and transportation.
The Real Estate Minor Summer Institute does not offer or accept financial aid of any kind, including Institutional Merit Scholarships and Full-Time Division Undergraduate Student Grants.
There is no application process for students interested in earning the real estate minor during the summer. If you are interested, please complete and submit the Intent to Enroll Form. A member of our staff will contact you shortly after the start of the spring semester. While we encourage students to submit enrollment forms as soon as possible, the program accepts students up until the day before classes begin.
Absolutely. The Real estate Minor Summer Institute welcomes international students from all majors.
No. The minor program is an introductory program designed for undergraduate students who want to diversify their academic background or prepare for an entry-level position in the real estate development industry. The MSRED program is designed for graduate students with several years of related or unrelated work experience and are looking to begin or enhance their careers in real estate development. However, minor students who are interested in applying for the MSRED program are still encouraged to do so. The minor curriculum is a great primer for the full MSRED program.
For more information, contact John Huppi