Hey everyone. So I have been having trouble understanding the concept of IRR.
From my understand it is simply known as the discount rate that makes the NPV = 0. However, if the IRR is simply the discount rate, won't it mean that no matter what percentage IRR there is (20% IRR, or 5% IRR), the NPV will always be 0?
Doesn't this mean that theoretically in 10 years when you sell a property, you didn't really make any money if you account for NPV because the NPV=0?