Case Study Questions

I came across these questions when I was looking for practice case studies. Can someone help with the response to the below?

1. When calculating the net present value of cash flows to equity, should the discount rate be higher, lower, or equal to the discount rate used for the same investment if no leverage were used? 

I would assume it doesn't, but want to confirm. 

2. Could the cap rate on an acquisition (based on Year 1 projected NOI) be higher than the projected IRR over a 5-year holding period (assuming a resale at the end of Year 5)?

I would assume that cap rate would be higher at the end of Year 5 given the amount of time. 

3. Explain the relationship between projected IRR and NPV for an investment.

The rate that makes NPV 0, but is there anything else to include?

2 Comments
 

1. idk but what are they even discounting?

2. i think the cap rate tends to drop if the property value goes up, which is usually tied to the performance of its neighbors

3. idk what NPV stands for

 
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