A Real-World Understanding of Real Estate

Since 2008, Dr. Dwight Ham has helped students at The Master’s University prepare to become future homeowners and real estate investors. In Real Estate Principles, students develop literacy in the wide range of events and issues that affect the housing market — from the 2008 financial crisis, to the work-from-home movement, to the rise of Airbnb.

Ham is chair of the Department of Business Administration, through which Real Estate Principles is offered, and has been involved in business for over 40 years. With Ham’s background, it’s no surprise that though assigned reading and exams are part of the course’s fare, hands-on practicality is the real name of the game.

Over the course of the semester, students have three major projects to complete. First, they gain experience in all the real-world elements involved in purchasing a first home, from attending open houses to studying financing costs. Second, they walk through the necessary steps to complete a theoretical house-flipping project. Finally, they’re instructed to plan the purchase of an investment property and determine the development of its value.

Ham also has a roster of experienced guest speakers queued to share their real estate expertise. Speakers range from TMU alumni involved in commercial appraising, to Ham’s son, who operates a successful Airbnb business.

Together, the projects and lectures are intended to help learners absorb exactly what they need in order to become effective in the field, as many of Ham’s students have done. Some will become investors and property owners, while others will transition into credit and financing, maintenance, or construction. Still others will pursue a secondary income to support their vocation. The course’s wide range of applications makes it useful for anyone.

Students can also expect to gain a practical understanding of how to wisely manage their resources. “We acknowledge that all of what we have and own belongs to God,” Ham said. “Stewardship is taking good care of what God has given us. It encompasses much more than just giving. It’s how we use our money, how we employ it, how we invest it.”

Learn more about TMU’s business administration major at masters.edu/business.

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