Weighted Cost of Capital (WACC): Handy Tool or Misleading Metric?

[Ryan J Bruun]

I'm currently learning about the Weighted Cost of Capital (WACC). From what I understand, it is a formula used to determine the true cost (in percentage terms) of financing an investment when using both debt and equity. It is used mostly in the context of corporate investment decisions to determine whether or not a potential investment can provide a significant enough return to account for how much it costs to finance it. But does it apply to real estate investing? Could it help an investor to decide whether or not a property is worth considering?