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An Introduction To Real Estate Finance

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An Introduction to Real Estate Finance

An Introduction to Real Estate Finance Book
Author : Edward Glickman
Publisher : Academic Press
Release : 2013-10-14
ISBN : 0123786274
Language : En, Es, Fr & De

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Book Description :

An Introduction to Real Estate Finance serves as the core of knowledge for a single-semester first course in real estate finance. Unlike other real estate finance textbooks, with their encyclopedic but often stale details, it combines a short traditional text with a living website. The book gives students and professors highly applied information, and its regularly updated online features makes it especially useful for this practitioner-oriented audience. It covers fundamental topics such as accounting and tax, mortgages, capital markets, REITs and more. It also addresses the 2008 financial crisis and its impact on the real estate profession. This text is a valuable companion for students of real estate finance as well as financial analysts, portfolio managers, investors and other professionals in the field. Offers a concise, efficient, "finance-centric" alternative to traditional real estate finance texts Website gives readers the tools to find current information about their own areas of specialization—a unique approach not found in other real estate finance textbooks Gives students and professors the material to examine every subject in broad and highly detailed terms

Introduction to Real Estate Development and Finance

Introduction to Real Estate Development and Finance Book
Author : Richard M. Levy
Publisher : Routledge
Release : 2019-11-05
ISBN : 0429891148
Language : En, Es, Fr & De

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Book Description :

This book provides readers with a basic understanding of the principles that underlie real estate development. A brief historical overview and an introduction to basic principles are followed by examples from practice. Case studies focus on how cities change and respond to the economic, technological, social, and political forces that shape urban development in North America. It is important to have a framework for understanding the risks and rewards in real estate investing. In measuring return, consideration must be given to both investment appreciation and the cash flow generated over the life of a project. In addition, metrics are presented that can be useful in assessing the financial feasibility of a real estate development proposal. This book also provides an overview of the forces of supply and demand that gauge the potential market for a new project. In determining the size of “residual demand”, estimates for population growth, family formation, and new development are important. All development projects fall under the auspices of one or several jurisdictions. Though every jurisdiction has different rules and procedures, basic knowledge of the planning process is critical to the success of all development projects regardless of location. Furthermore, all projects have a legal component. Basic issues of land ownership, property rights, property transfer, and land registration are reviewed, all of which need to be considered when a property is sold or purchased. This book also provides a primary on the design and construction process. In constructing a building, a team of experts is first required to design the architectural, structural, and heating, ventilation, and air conditioning (HVAC) systems for a building. An overview is provided of each building system: wood, concrete, and steel. Critical to a successful real estate development, project management principles for the processes of design, bidding, and construction are explored, with close attention given to budgeting, scheduling, and resource management. Essential reading for anyone involved in the development of our built environment, this is a must-read introduction for students and professionals in architecture, urban planning, engineering or real estate seeking an approachable and broad view of real estate development and finance.

Real Estate Finance Investments

Real Estate Finance   Investments Book
Author : William Brueggeman,Jeffrey Fisher
Publisher : McGraw-Hill Companies
Release : 2010-02-12
ISBN : 9781259868498
Language : En, Es, Fr & De

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Book Description :

Download Real Estate Finance Investments book written by William Brueggeman,Jeffrey Fisher, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Real Estate Perspectives

Real Estate Perspectives Book
Author : John B. Corgel,David C. Ling,Halbert C. Smith
Publisher : McGraw-Hill/Irwin
Release : 2001
ISBN : 9780072318227
Language : En, Es, Fr & De

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Book Description :

This text provides a clear presentation of the numerous investment decisions involved in real estate such as whether and how to lease, buy, sell, or mortgage a property; how to analyze and predict the forces in the market that determine real estate values; whether and when to renovate, rehabilitate, or demolish; and when and how to divest a property. The authors use Value as a unifying theme, supporting their view that students best understand and appreciate the importance of the complex economic, social, and legal processes that affect real estate markets after they have developed an understanding of how real estate valuation and investment decisions are made. The text provides a decision-making framework through a greater use of technology and quantitative decision-making tools. It is organized into five perspectives: Investment, Market, Value, Mortgage Finance and Legal.

Introduction to Financial Accounting

Introduction to Financial Accounting Book
Author : Anthony Webster
Publisher : Applied Finance LLC
Release : 2018-04-19
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

This text provides a terse introduction to Financial Accounting. It is aimed at students, early-career business professionals and career-changers. It includes many foundational examples drawn from the fields of Investment Management, Private Equity, and Investment Banking. The book is a required resource for courses at Columbia, Xi'an and Sichuan universities.

Business Information Sources

Business Information Sources Book
Author : Lorna M. Daniells
Publisher : Univ of California Press
Release : 1976-01-01
ISBN : 9780520029460
Language : En, Es, Fr & De

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Book Description :

Download Business Information Sources book written by Lorna M. Daniells, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Commercial Real Estate Finance

Commercial Real Estate Finance Book
Author : Terrence M. Clauretie
Publisher : Unknown
Release : 2003
ISBN : 9781575991047
Language : En, Es, Fr & De

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Book Description :

Download Commercial Real Estate Finance book written by Terrence M. Clauretie, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Real Estate Finance

Real Estate Finance Book
Author : John P. Wiedemer,J. Keith Baker
Publisher : Unknown
Release : 2015-12-01
ISBN : 9781629800202
Language : En, Es, Fr & De

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Book Description :

Download Real Estate Finance book written by John P. Wiedemer,J. Keith Baker, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

The Complete Guide to Real Estate Finance for Investment Properties

The Complete Guide to Real Estate Finance for Investment Properties Book
Author : Steve Berges
Publisher : John Wiley & Sons
Release : 2004-09-06
ISBN : 0471647128
Language : En, Es, Fr & De

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Book Description :

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

Real Estate Derivatives

Real Estate Derivatives Book
Author : Radu S. Tunaru
Publisher : Oxford University Press
Release : 2017-04-07
ISBN : 0191060623
Language : En, Es, Fr & De

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Book Description :

This book brings together the latest concepts and models in real-estate derivatives, the new frontier in financial markets. The importance of real-estate derivatives in managing property price risk that has destabilized economies frequently over the last hundred years has been brought into the limelight by Robert Shiller. In spite of his masterful campaign for the introduction of real-estate derivatives, these financial instruments are still in a state of infancy. This book aims to provide a state-of-the-art overview of real-estate derivatives, covering the description of these financial products, their applications, and the most important models proposed in the literature. In order to facilitate a better understanding of the situations when these products can be successfully used, ancillary topics such as real-estate indices, mortgages, securitization, and equity release mortgages are also discussed. The book examines econometric aspects of real-estate index prices time series and financial engineering non-arbitrage principles governing the pricing of derivatives. The emphasis is on understanding the financial instruments through their mechanics and comparative description. The examples are based on real-world data from exchanges or from major investment banks or financial houses in London. The numerical analysis is easily replicable with Excel and Matlab.

Practical Finance for Property Investment

Practical Finance for Property Investment Book
Author : Craig Furfine
Publisher : Routledge
Release : 2019-11-27
ISBN : 1000729966
Language : En, Es, Fr & De

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Book Description :

Practical Finance for Property Investment provides readers with an introduction to the most fundamental concepts, principles, analytical methods, and tools useful for making investing and financing decisions regarding income-producing property. The book begins by considering how to value income-producing property by forecasting a property’s cash flows and estimating appropriate discount rates. It then discusses how both debt and private equity are used as methods to finance a property’s acquisition. The book provides a thorough discussion of the taxation of property income as well as how investors can quantify the risks to investing in property. The book concludes with important considerations for investors when their investment thesis does not come to fruition. Practical Finance for Property Investment offers a unique and novel pedagogy by pairing each book chapter with an in-depth real-world case study, which forces readers to confront the occasional tensions between finance theory and property investment practice. The book is designed for investors and students interested in learning what finance theory implies about property investment. Readers and Instructors can access electronic resources, including the spreadsheets used in the textbook, at the book's website: www.routledge.com/9780367333041.

Real Estate Investment Trusts in Europe

Real Estate Investment Trusts in Europe Book
Author : Ramón Sotelo,Stanley McGreal
Publisher : Springer Science & Business Media
Release : 2013-12-11
ISBN : 3642368565
Language : En, Es, Fr & De

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Book Description :

Shortly before of the beginning of the global financial crisis of 2008 REITs were introduced in several European countries based on their success in mature markets like the US, Australia and some Asian countries. While the history of REITs in Europe has been relatively brief, REITs are well on the way to become an industry standard as a real estate investment financial vehicle not only in Europe but throughout the developed world. This book provides both academics and decision makers an introduction to the economics of REITs beyond tax transparency, an overview of the mature REITs markets, and a closer reflection of the development of different REIT-structures in Europe including the history, regulation and markets of each country.

Texas Pre License

Texas  Pre License Book
Author : Sahr Nadeem
Publisher : Createspace Independent Publishing Platform
Release : 2017-12-10
ISBN : 9781981575824
Language : En, Es, Fr & De

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Book Description :

This course provides an introduction to real estate finance. From qualifying the borrower and qualifying the property in the underwriting process to various types of financing, closing the sale, the Community Reinvestment Act and more, we discuss the monetary systems that control the market, delve into supply and demand, cover housing agencies, and discuss the government influence on real estate. Most real estate is purchased with borrowed money. The methods of real estate finance are many and varied. Making real estate loans carries a certain amount of risk for lenders; for this reason, lenders must have a firm grasp of a borrower's financial qualifications. Lenders consider a borrower's income, credit, debt, source of funds, and net worth. However, no analysis, no matter how thorough, of a borrower's creditworthiness, can be enough to ensure that a loan is completely free of risk. You will learn the methods used by lenders to qualify loan applicants and how lenders qualify the property to be mortgaged. This involves a thorough and accurate property valuation, using the sales comparison or cost approach for residential property and a cap rate or discounted cash flow analysis for investment property. These methods of valuation will be discussed in depth so that you will feel confident and familiar with them when you meet them in the real world. The basics of the financing and the sale process are discussed over two lessons. You will learn how title (abstract ownership rights to the property) is transferred to the buyer with a deed. The earnest money contract will also be discussed: terms of the contract, contingencies, and earnest money deposits. In another lesson, the focus turns to closing. You will learn the customary costs involved in a real estate transaction, how certain items are prorated between the buyer and the seller and the requirements set forth by the Real Estate Settlement Procedures Act (RESPA). This course also covers foreclosure. We consider what happens when a borrower is in default of the mortgage contract and how lenders may help borrowers prevent foreclosure through forbearance, moratoriums, and recasting. Also discussed is how, when these techniques fail, the property is foreclosed and sold at auction and how the creditors are repaid.No real estate finance course would be complete without discussing the types of mortgages available. We have two lessons that will detail the elements of conventional loans, both conforming and nonconforming; adjustable rate; graduated payment; growth equity; and reverse annuity mortgages, to name a few. The advantages and disadvantages of each type of financing are emphasized so that you may better understand the decision-making process inherent in real estate finance. Two specific types of financing, FHA-insured and VA-guaranteed loans, are reserved for separate lessons. FHA loans are insured by the government and perceived as less risky by lenders. They are available to all natural and naturalized U.S. citizens, but they carry a monthly insurance premium that cannot be canceled. VA loans are guaranteed in part by the government, but are available only to veterans, active servicemen, and certain National Guard members and special reservists. The final lesson deals with a topic important to real estate investment: Internal Revenue Code (IRC) Section 1031 exchanges (a k a 1031s). Buying and selling real estate investments can be a tax-heavy business. By "exchanging" their investments under the continuity of investment principle, investors can receive more financing and improve their portfolios. At the end of each lesson, you will be required to complete a quiz for that lesson before moving on to the next lesson. The course ends with a real-world practice lesson that brings together the concepts and material discussed throughout the entire course.

Introduction to Real Estate Beyond Residential Sales

Introduction to Real Estate   Beyond Residential Sales Book
Author : David Gadish
Publisher : Bh4 Publishing
Release : 2021-04-22
ISBN : 9781954713109
Language : En, Es, Fr & De

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Book Description :

This book was written for existing real estate agents as well as those that are considering real estate. It will provide you with an understanding of your different options in the real estate industry, beyond the traditional and very popular residential real estate sales path. This book introduces seven areas of real estate every real estate agent should know something about:Chapter 1 looks at real estate finance. Chapter 2 looks at property management. Chapter 3 looks at residential leasing. Chapter 4 looks at commercial leasing.Chapter 5 looks at investing in real estate.Chapter 6 looks at 1031 exchanges. Chapter 7 looks at real estate auctions.

Introduction to Mortgages and Mortgage Backed Securities

Introduction to Mortgages and Mortgage Backed Securities Book
Author : Richard K. Green
Publisher : Academic Press
Release : 2013-11-21
ISBN : 0124045936
Language : En, Es, Fr & De

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Book Description :

In Introduction to Mortgages & Mortgage Backed Securities, author Richard Green combines current practices in real estate capital markets with financial theory so readers can make intelligent business decisions. After a behavioral economics chapter on the nature of real estate decisions, he explores mortgage products, processes, derivatives, and international practices. By focusing on debt, his book presents a different view of the mortgage market than is commonly available, and his primer on fixed-income tools and concepts ensures that readers understand the rich content he covers. Including commercial and residential real estate, this book explains how the markets work, why they collapsed in 2008, and what countries are doing to protect themselves from future bubbles. Green's expertise illuminates both the fundamentals of mortgage analysis and the international paradigms of products, models, and regulatory environments. Written for buyers of real estate, not mortgage lenders Balances theory with increasingly complex practices of commercial and residential mortgage lending Emphasizes international practices, changes caused by the 2008-11 financial crisis, and the behavioral aspects of mortgage decision making

Cases and Materials on Real Estate Finance and Development

Cases and Materials on Real Estate Finance and Development Book
Author : Grant S. Nelson,Dale A. Whitman
Publisher : Unknown
Release : 1976
ISBN : 0987650XXX
Language : En, Es, Fr & De

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Book Description :

Download Cases and Materials on Real Estate Finance and Development book written by Grant S. Nelson,Dale A. Whitman, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Real Estate Investment

Real Estate Investment Book
Author : Andrew Baum
Publisher : Routledge
Release : 2015-05-20
ISBN : 1317647874
Language : En, Es, Fr & De

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Book Description :

Real Estate Investment: A Strategic Approach provides a unique introduction to both the theory and practice of real estate investing, and examines the international real estate investment industry as it reacts to the global financial crisis. Andrew Baum outlines the market and the players who dominate it; the investment process; the vehicles available for investment; and a suggested approach to global portfolio construction. The book contains many useful features for students including discussion questions, a full further reading list and case studies drawing on international examples from the UK, continental Europe, the USA and Asia. Ideal for undergraduate and postgraduate students on all real estate and property courses and related business studies and finance courses, Real Estate Investment is designed to provide a foundation for the next generation of investment managers, advisers and analysts. Further resources for lecturers and students are available at: www.routledge.com/cw/baum

Property Finance

Property Finance Book
Author : Giacomo Morri,Antonio Mazza
Publisher : John Wiley & Sons
Release : 2015-01-12
ISBN : 1118764404
Language : En, Es, Fr & De

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Book Description :

A unique, international approach to optimal real estate financing Property Finance is an authoritative guide to both the financial and legal issues surrounding real estate financing. Unique in its exclusive focus on the topic, this book builds from a solid theoretical foundation to provide practical tools and real-world solutions. Beginning with a discussion of the general issues encountered in real estate finance from an international perspective, the authors delve into country-specific information and set out the legal peculiarities of eight important countries (Germany, France, Italy, Spain, China, India, England and Wales) by asking questions of relevance to the leading local law firms specializing in real estate financing. The reader may thus consider in greater depth the problems relating to any given country and compare and contrast the positions under different legal systems. Examples with numerical calculations and contract excerpts enhance the explanations presented, and are immediately followed by practical case studies that illustrate the mechanisms at work. The companion website features downloadable spreadsheets used in the examples, power point presentations, as well as real estate news and more. Property financing entails many sources of capital, including both debt and equity resources as well as hybrid forms like preferred equity and mezzanine debt. Knowing how to work with these avenues is important to ensuring financial sustainability in real estate assets. Property Finance covers the most common issues encountered, helping readers prepare for and find a way around possible roadblocks. Consider the issues surrounding real estate lending at an international level Compare and contrast the positions under different legal systems Develop an international perspective on cash flows and financing agreements Use powerful tools to structure financing and gauge its effects on property financing The success of a real estate investment is dependent upon optimal financing, and a mere bird's eye view of the topic does not fully prepare investors for issues ahead: Property Finance provides a knowledge-based approach to real estate investment, detailed information and powerful tools.