FLORIDA REAL ESTATE U FINAL EXAM LATEST ACTUAL EXAM 200 QUESTIONS AND CORRECT DETAILED ANSWERS (VERIFIED ANSWERS) ALREADY GRADED A+.pdf

Real Estate U Final EXAM LATEST 2023-
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2024 ACTUAL EXAM 350 QUESTIONS AND COR
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RECT DETAILED ANSWERS (VERIFIED ANSWER
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S) |ALREADY GRADED A+ TESTBANK
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Syndication - n


nCORRECT ANSWER Method of using capital (money) fro n n n n n n n



m multiple investors for the common goal of acquiring real es
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tate. Investments are often syndicated in order to allow indivi
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duals to invest in properties or projects that are significantly l
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arger than they could afford on their own.
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Types of Commercial Real Estate
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Note: Commercial RE boils down to figuring out what is the I
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ncome-
expense=NOI and what valuation points are assigned to the
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cap rate. n




ASK: What is the cap rate of this property? -
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Apply to NOI the cap rate to get the value of the property -
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CORRECT ANSWER 1) Apartment Buildings
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2) Office Buildings (Class A,B,C) n n n


3) Shopping Centers n



4) Industrial Properties n




Office Buildings Classes -
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CORRECT ANSWER (Class A,B,C)
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,A- Newer building, all amenities
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B- Older building, not that great condition
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C- Right above failing grade
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-Low Rise ( 1-3 stories)
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-Mid Rise ( 3-15 stories)
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-High Rise ( 20+ stories)
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Types of Residential Real Estate - CORRECT ANSWER
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- Single Family n


- Multi-family
- Commercial apt building (5+ dwelling units) n n n n n



- Mixed use buildings- n n


ntypically downstairs: retail , upstairs: apt
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Retail Property Types - CORRECT ANSWER -
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nStrip centers (8,000 - 30,000 sq feet)
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- Neighborhood centers (30,000-100,000 sq feet) n n n n


- Malls: Regional or Mega mall n n n n



- Outlet centers (100-000 - 300,000 sq ft)
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depends on how many big national centers are at the mall.
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Outparcel - n



CORRECT ANSWER Individual retail sites in a shopping c
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enter

Square Footage Types n n




Note: Carpetable area= Usable area -
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CORRECT ANSWER Usable Square Footage: Space that
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can be used/occupied by a tenant.
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,- Typically doesn't include elevators, stairs, mechanical s n n n n n n



paces, etc. n




Rentable Square Footage: Usable area that can be leased/r n n n n n n n n



ented to a tenant n n n




Common area: Spaces in a commercial building shared by the t n n n n n n n n n n



enants or residents of the building. Common areas include lobb
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ies, corridors, stairs, elevators, etc.
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Net lease (Commercial RE) -
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nCORRECT ANSWER Requires tenant to pay. In addition to n n n n n n n n



nrent , some or all of the property expenses that's normally pa
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id by the property owner.
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N lease: Tenant responsible for RE taxes only, while ownerp
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says rest of expenses n n n




NN lease (Double Net Lease): Tenant pays both property tax
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es & premiums for insuring the property
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NNN Lease (Triple Net Lease): Tenant pays for all expenses
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like RE taxes, insurance, maintenance, repairs, utilities etc.
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Gross Lease - n n


nCORRECT ANSWER Lease of property whereby the lesso n n n n n n n


r is to meet all property charges regularly incurred through o
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wnership.
- tenant pays a fixed rent per sq ft they get to use, but not pa
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ying any expenses of operating the property
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, Percentage Lease n




* Commonly found in Retail leases -
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nCORRECT ANSWER Lease of property which rental is ba n n n n n n n n



sed upon n



% of the volume of sales made upon the leased premises, us
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ual provised for minimal rentals
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- having this type of lease requires tenant to share p
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erformance of the store with landlord n n n n n



Simple: tenant pays owner a certain % of the revenue he ma
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kes on the property n n n




Loft Lease - n n


CORRECT ANSWER Renting out an entire space/floor
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Lease Clauses - CORRECT ANSWER 1. Lease duration
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- commencement date (day that lease starts) n n n n n



- move-in date n


2. Free rent clause n n



3. Landlord work clause (work done on property prior to te n n n n n n n n n


nant move-in) n


4. Tenant's future work clause n n n


5. Notice clause n



6. Tenant options (tenant has right to chooses to extend th
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eir lease into the additional option period)
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7. Restrictions on who landlord can rent the other spaces to n n n n n n n n n


8. Management level n


9. Amenities
10. Use clauses n



11. Estoppel agreement n