$1,000 is invested in a transaction, and there are no cash flows, either positive or negative, in Years 1 through 4. In Year 5, $1,000 is returned. What is the return on capital?
Feb 10

About The Author

Hi, I'm Bruce Kirsch, co-author of the leading CRE finance textbook, Real Estate Finance and Investments: Risks and Opportunities, and the associated REFAI® Certification program. Over the last 20 years, I have had a diverse and interesting collection of adventures in CRE. I am the founder of Real Estate Financial Modeling and the creator of the Model for Success blog. I hold an MBA in Real Estate from The Wharton School, and I graduated with a BA in Communication from Stanford University.
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