Real Estate Analysis: Rationalizing
the Irrational
¨Common Sense = is NOT common
= as if you do not know
the business [IRR 100% for 3
years? Maybe. For 10 years straight? Nuts!]
¨Intuitive = based on relevant
business experience and reason
¨Quantitative = NPV, IRR, fundamentals,
technical, ratios, medians etc…