Containing in-depth and easy-to-understand coverage of the real estate finance industry, this classic text has trained over 70,000 real estate professionals. Essentials of Real Estate Finance can be used for prelicensing students, or in semester-length courses in two-and four-year colleges. Features include a complete glossary, review questions with detailed answer rationales, and Instructor Resources.
Real Estate Principles: A Value Approach demonstrates how value is central to virtually all real estate decision-making. Students using Ling and Archer should finish the course with a value-oriented framework and a set of valuation and decision making tools that can be applied in a variety of real-world situations. The key to making sound investment decision is to understand how property values are created, maintained, increased or destroyed.
Since the launch of Real Estate Principles: A Value Approach, significant and lasting changes have come upon the world of real estate. This is very true in real estate finance and capital sources where most of the traditional lenders have been transformed or displaced, giving way to a radically different set of players in mortgage finance. There has been change with profound and far-reaching implications in a world where it is understandable that property values can go down as well as up. This realization will color every aspect of real estate investment, finance and transactions for the foreseeable future.
Explaining how finances drive each decision in the real estate development process, this helpful industry guide recognizes the complexities and significant risks of each project and illustrates how to reconcile conflicting elements to ultimately achieve success. A 36-year real estate development veteran, author Charles Long shares the practical information and personal insights that he has gained over the course of his career, and weaves relevant real world examples into the text, helping to clarify the principles necessary to effectively manage a project in today’s financial landscape. Ideal both for those starting out in real estate development and experienced professionals who want to learn the theory behind the practice, this book offers a different perspective on making the monetary decisions that are involved in property development projects.
The Fifteenth Edition of Real Estate Finance and Investments prepares students to understand the risks and rewards associated with investing in and financing both residential and commercial real estate. Concepts and techniques included in the chapters and problem sets are used in many careers related to real estate. The material in this edition is also relevant to individuals who want to better understand real estate for their own personal investment and financing decisions.
There’s a huge problem in the commercial real estate business that nobody is talking about- DUE DILIGENCE. Investors are leaving big money on the table by not learning these important principles.
Most investors, real estate brokers and commercial real estate professionals barely scratch the surface conducting their due diligence.
How do I know this? I’ve spent over 31 years helping investors buy and sell over 9 million square feet of properties and witnessed the practices of professional and small investors. It wasn’t until I became an acquisition executive and learned some humiliating and expensive lessons because “I didn’t know what I didn’t know”.
After all the stress and sleepless nights, I’m sharing my “step by step” system, "The Due Diligence Handbook For Commercial Real Estate". You will learn how to avoid simple mistakes with costly consequences, create more value and much more essential information.
This book is currently one of the top selling and highest rated commercial real estate books on Amazon. It is an easy to follow “roadmap” based upon a proven system that investors and real estate professionals around the world reference and keep as a constant companion as they’re conducting due diligence. It removes a lot of the “guess work” from the process, so you can make an informed and intelligent decision when deciding whether to buy or NOT buy.
Having and adhering to a proven system allows you to conduct due diligence faster, easier, more efficiently and you’re less likely to miss something.
Here are some of the lessons you’ll learn:
Negotiating the purchase and sale agreement and what you MUST include in order to maximize your opportunities to negotiate further with the seller. (Super important to know.)
Reviewing the leases including what provisions to watch for that could cost you dearly once you own it. (Without this knowledge you’re just hoping it all works out.)
Uncovering hidden problems and issues that the seller will NOT disclose as well as how and where to look for them. The seller will not be handing you a list of them. (Many of them are essential and could make or break your investment.)
Underwriting a property during your financial analysis. There are a list of essential questions included that MUST be addressed.(Leaving one of these questions unanswered can be potentially devastating to an investment.)
Not over-paying by making sure you’re getting all you deserve and getting credited fairly for items on the closing statement. (This handbook offers specific items to review, with instructions on what to ask for, to minimize your chances of getting taken advantage of. This is where most investors fall short and lose big money by not having this information.)
The fundamentals remain the same and they are all applicable; whether they are: residential rental properties, industrial or office buildings, skyscrapers or retail shopping centers. This system works for all of them.
In addition, you get in this handbook . . .
Sample Lease Abstract Form (Which shows you how to summarize all the main deal points of a lease document.)
Due Diligence Checklist
Due Diligence Document Checklist
Sample Tenant Questionnaire (A sample list of questions that you should ask of tenants when conducting a tenant interview. This is a virtual “gold mine” of information when done properly. Learn this or lose out.)
By having this knowledge and my "step-by-step" system, you will be more prepared, more confident in your ability to negotiate and go up against ANY seller.
There are too many things to remember. We need reminding as much as we need learning. Buy the book now. It will be one of the
REAL ESTATE FINANCE, 9e provides a contemporary review of residential and commercial real estate finance and how these financial markets work. The text has been fully updated reflecting current principles and practices of modern real estate finance resulting from the recent financial crisis and mortgage meltdown. It provides coverage of specialized mortgage lending procedures - including sources of mortgage money, constraints on those sources, loan qualifications, and laws and regulations that guide practices today. An easy-to-read narrative format continues to be the hallmark of this long-time popular real estate finance text.
This book is the ideal companion to core real estate finance textbooks and will boost students Excel modelling skills before they enter the workplace. Foundations of Real Estate Financial Modelling is specifically designed to provide an overview of pro forma modelling for real estate projects. The book introduces students and professionals to the basics of real estate finance theory before providing a step-by-step guide for financial model construction using Excel. The idea that real estate is an asset with unique characteristics which can be transformed, both physically and financially, forms the basis of discussion.
Individual chapters are separated by functional unit and build upon themselves to include information on:
Waterfall (Equity Bifurcation)
Additional Asset Classes
Further chapters are dedicated to risk quantification and include scenario, stochastic and Monte Carlo simulations, waterfalls and securitized products. This book is the ideal companion to core real estate finance textbooks and will boost students Excel modelling skills before they enter the workplace. The book provides individuals with a step-by-step instruction on how to construct a real estate financial model that is both scalable and modular.
A companion website provides the pro forma models to give readers a basic financial model for each asset class as well as methods to quantify performance and understand how and why each model is constructed and the best practices for repositioning these assets.
This book covers all material in Real Estate Finance classes with special emphasis on California real estate procedures. Written in very clear and simple language, easy-to-read format with photographs, charts, and graphs. This textbook is designed to fulfill the course requirement necessary to take the California Real Estate Salesperson and Broker Exams.
The Classic Guide to Real Estate Investingâ€”Updated for a Re-energized Industry! Real estate is once again a great investment, and this bestselling guide provides everything you need to know to get in now and make your fortune.
The Fourteenth Edition of Real Estate Finance and Investments prepares students to understand the risks and rewards associated with investing in and financing both residential and commercial real estate. Concepts and techniques included in the chapters and problem sets are used in many careers related to real estate. The material in this edition is also relevant to individuals who want to better understand real estate for their own personal investment and financing decisions.
The Fourteenth Edition is designed to help students learn how to evaluate the risk and return associated with the various ways of investing and lending. Upcoming students who are interested in this field can use this book as a guide to perform the right kind of analysis to make informed real estate finance and investment decisions.
The Real Estate Game is a comprehensive guide to successful real estate investment from one of the masters in the field. Drawing upon four decades of experience developing, owning, and managing properties and on almost thirty years of teaching at the Harvard Business School, William J. Poorvu offers an insider's perspective on how to make smart decisions about real estate.
The real estate "game" is played by people, and it's the stories of real people that make Poorvu's introduction to the industry colorful and interesting. You will meet players ranging from real estate moguls to small-scale developers to individual investors in exotic investment instruments. Their stories evolve throughout the book and illustrate how these people with all their complicated needs, talents, and motives fit into the larger process and context.
This practical, real-world guide gives investors all the tools they need to make wise decisions when weighing the value and potential of investment properties. Written for old pros as well as novice investors, this friendly, straightforward guide walks readers step by step through every stage of property analysis. Whether you’re buying or selling, investing in big commercial properties or single-family rentals, you’ll find expert guidance and handy resources on every aspect of real estate finance, including:
Proven, effective valuation techniques
Finance tips for all different kinds of property
How various financing strategies affect investments
Structuring financial instruments, including leverage, debt, equity, and partnerships
Measurements and ratios for investment performance, including capitalization rates and gross rent multiplier ratios
Future and present value analysis
How the appraisal process works
Primary appraisal methods?replacement cost, sales comparison, and income capitalization?and how to know which one to use
How to understand financial statements, including income, balance, and cash flow
Case studies for single-family rentals, multifamily conversions, apartment complexes, and commercial office space
A detailed glossary of important real estate terminology