Exam term
Before-tax cash flow
Net operating income minus debt service, assuming no other cash adjustments. Tax depreciation is not subtracted.
Lessons that use this term
- Financial analysis of income property: cash flow, returns, and leverage California
- Real estate as an investment: analysis, risk, and leverage Florida
- The reconstructed income and expense statement: NOI and cash flow New York
- Investment and property management math: return, appreciation, depreciation, and rents Texas