Real estate investing terminology is, in many ways, unique. To succeed, an investor needs to develop a clear understanding of these terms. Investing involves committing money or assets with the expectation of achieving a financial gain. An investor takes an equity position in a property to generate income. Investment value refers to the present value of that equity, calculated based on after-tax cash flow and considering tax implications. Key components include cash flow from operations, tax benefits, and appreciation. Our process starts by calculating cash flow after debt service, projecting sale proceeds, and analyzing tax benefits. We will also perform ratio and sensitivity analyses. Using a demonstration property in Long Beach, we will explore these concepts, beginning with a review of the offering memorandum.  As an additional resource of real estate terminology, Zillow.com has a comprehensive dictionary.