Nicht aus der Schweiz? Besuchen Sie lehmanns.de

Complete Guide to Real Estate Finance for Investment Properties (eBook)

How to Analyze Any Single-Family, Multifamily, or Commercial Property

(Autor)

eBook Download: EPUB
2011 | 1. Auflage
288 Seiten
Wiley (Verlag)
978-1-118-04580-0 (ISBN)

Lese- und Medienproben

Complete Guide to Real Estate Finance for Investment Properties -  Steve Berges
Systemvoraussetzungen
24,99 inkl. MwSt
(CHF 24,40)
Der eBook-Verkauf erfolgt durch die Lehmanns Media GmbH (Berlin) zum Preis in Euro inkl. MwSt.
  • Download sofort lieferbar
  • Zahlungsarten anzeigen
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

STEVE BERGES is a real estate investment professional with over twenty-five years of experience. As Principal of Symphony Homes, he is an active investor specializing in creating value through various real estate mechanisms, including single-family houses, multifamily apartment complexes, and the development and construction of single-family and condominium housing communities. He holds an MBA degree in finance and marketing from Rice University. He is also the author of The Complete Guide to Buying and Selling Apartment Buildings and The Complete Guide to Flipping Properties, both from Wiley.

Part 1 Real Estate Finance 1

Chapter 1 Introduction to Real Estate Finance 3

Finance as a Discipline 6

The Relevance of Finance as It Applies to Value 9

Chapter 2 Primary Investment Elements and Their Effect on Financing Strategies 13

Time Horizon 13

Volume of Investment Activity 18

Type of Property 21

Chapter 3 Secondary Investment Elements and Their Effect on Financing Strategies 27

Cost of Funds 28

Amortization Period 31

Amount of Funds Borrowed 35

Chapter 4 Additional Investment Elements and Their Effect on Financing Strategies 43

Loan Duration 43

Loan Fees 46

Prepayment Penalties 54

Chapter 5 Structuring Financial Instruments 61

Leverage 61

Debt 64

Equity 67

Partnerships 69

Blended Financing and the Weighted Average Cost of Capital 72

Options 76

Chapter 6 Real Estate Investment Performance Measurements and Ratios 81

Net Income Return on Investment 84

Cash Return on Investment 85

Total Return on Investment 86

Net Operating Income 87

Capitalization Ratio 89

Debt Service Coverage Ratio 92

Operating Efficiency Ratio 93

Gross Rent Multiplier 98

Operating Ratio 99

Break-Even Ratio 100

Chapter 7 Advanced Real Estate Investment Analysis 103

Future Value Analysis 103

Present Value Analysis 108

Net Present Value Analysis 111

Internal Rate of Return 113

Chapter 8 The Valuation of Real Property 121

Appraisal Defined 121

The Nature of Price and Value 122

Three Primary Appraisal Methods 123

Replacement Cost Method 123

Sales Comparison Method 126

Income Capitalization Method 128

Chapter 9 Financial Statements and Schedules 133

Income Statement 136

Balance Statement 143

Statement of Cash Flows 148

Part 2 Case Study Review: Practical Application of Valuation Analysis 153

Chapter 10 Case Study 1: Single-Family Rental House 155

Test 1: Comparable Sales Analysis 157

Test 2: Cash Flow Analysis 162

Chapter 11 Case Study 2: Single-Family to Multifamily Conversion 175

Exploring Alternative Possibilities 175

The Relationship between Risk and Reward 180

Chapter 12 Case Study 3: Multifamily Apartment Complex 189

Chapter 13 Case Study 4: Single-Family Conversion to Commercial Office Building 203

Part 3 Epilogue and Appendixes 229

Chapter 14 Epilogue: Destined for Greatness 231

Prior Works 231

Destined for Greatness 233

Appendix A www.thevalueplay.com 243

Appendix B www.symphony-homes.com 245

Glossary 247

Index 269

Erscheint lt. Verlag 12.1.2011
Sprache englisch
Themenwelt Recht / Steuern Wirtschaftsrecht
Wirtschaft Betriebswirtschaft / Management Rechnungswesen / Bilanzen
Betriebswirtschaft / Management Spezielle Betriebswirtschaftslehre Immobilienwirtschaft
Schlagworte Business & Management • Immobilien u. Grundbesitz • Property & Real Estate • Wirtschaft u. Management
ISBN-10 1-118-04580-7 / 1118045807
ISBN-13 978-1-118-04580-0 / 9781118045800
Haben Sie eine Frage zum Produkt?
EPUBEPUB (Adobe DRM)
Größe: 5,6 MB

Kopierschutz: Adobe-DRM
Adobe-DRM ist ein Kopierschutz, der das eBook vor Mißbrauch schützen soll. Dabei wird das eBook bereits beim Download auf Ihre persönliche Adobe-ID autorisiert. Lesen können Sie das eBook dann nur auf den Geräten, welche ebenfalls auf Ihre Adobe-ID registriert sind.
Details zum Adobe-DRM

Dateiformat: EPUB (Electronic Publication)
EPUB ist ein offener Standard für eBooks und eignet sich besonders zur Darstellung von Belle­tristik und Sach­büchern. Der Fließ­text wird dynamisch an die Display- und Schrift­größe ange­passt. Auch für mobile Lese­geräte ist EPUB daher gut geeignet.

Systemvoraussetzungen:
PC/Mac: Mit einem PC oder Mac können Sie dieses eBook lesen. Sie benötigen eine Adobe-ID und die Software Adobe Digital Editions (kostenlos). Von der Benutzung der OverDrive Media Console raten wir Ihnen ab. Erfahrungsgemäß treten hier gehäuft Probleme mit dem Adobe DRM auf.
eReader: Dieses eBook kann mit (fast) allen eBook-Readern gelesen werden. Mit dem amazon-Kindle ist es aber nicht kompatibel.
Smartphone/Tablet: Egal ob Apple oder Android, dieses eBook können Sie lesen. Sie benötigen eine Adobe-ID sowie eine kostenlose App.
Geräteliste und zusätzliche Hinweise

Buying eBooks from abroad
For tax law reasons we can sell eBooks just within Germany and Switzerland. Regrettably we cannot fulfill eBook-orders from other countries.

Mehr entdecken
aus dem Bereich
Handbuch für Studium und Praxis

von Hanspeter Gondring

eBook Download (2023)
Vahlen (Verlag)
CHF 63,50