Cap Rates & NOI Live Clinic (Recording)

About this course

A recording of the August live clinic. Daniel Okafor underwrites three member-submitted properties live, explaining how NOI is normalized, where cap rate comparisons break down and how to answer the audience's questions.

Recorded from the live session Cap Rates & NOI Live Clinic on August 13, 2026.

What you will learn

• Normalize NOI from seller statements
• Choose appropriate market cap rates
• Understand where cap rates mislead
• Learn from live Q&A

1. Module 1

   Introduction

   2 lessons
   • Welcome to Cap Rates & NOI Live Clinic (Recording)Video · 8 min · Free preview
   • Course Roadmap and Completion RequirementsWritten lesson · 5 min · Free preview

2. Module 2

   Core Principles

   2 lessons
   • The Four Sources of Real Estate ReturnVideo · 8 min
   • Net Operating Income and Cap RateWritten lesson · 5 min

3. Module 3

   Deal Structure

   2 lessons
   • Choosing a Financing StructureVideo · 8 min
   • Down Payment, Reserves and LeverageWritten lesson · 5 min

4. Module 4

   Financial Analysis

   2 lessons
   • Building a Pro FormaVideo · 8 min
   • Estimating Expenses RealisticallyWritten lesson · 5 min

5. Module 5

   Risk Management

   2 lessons
   • Identifying Property-Level RisksVideo · 8 min
   • Market and Liquidity RiskWritten lesson · 5 min

6. Module 6

   Real-World Examples

   1 lessons
   • Example: A Single-Family Rental UnderwrittenVideo · 8 min

7. Module 7

   Case Study

   1 lessons
   • Case Study: The Midwest DuplexCase study · 8 min

8. Module 8

   Final Assessment

   2 lessons
   • Final AssessmentQuiz · 3 min
   • Applied AssignmentAssignment · 6 min