Introduction to real estate development and finance / txt
Richard Levy.
- First Published 2019
- 268 p. ill. 25 cm. book
Includes bibliographical references and index.
Table of Contents: Preface -- Organization of this Book -- Chapter 1: Introduction to Real Estate Development and Finance 1 -- What is Real Estate? 1 -- What Determines Value? 2 -- Learning from History 5 -- The Two Big Questions in Real Estate Development 19 -- The supply side of the equation 21 -- The demand side of the equation 26 -- Demand and supply in a changing technological landscape 27 -- Financial factors 28 -- Building the team 31 -- Chapter 2: An introduction to financial analysis 36 -- Risk and reward 36 -- Pro formas 47 -- Cautions 61 -- Chapter 3: Model building and real estate development 64 -- Models and decision making 64 -- Modeling human behavior: Models are rational, people are not 86 -- Conclusions 87 -- Chapter 4: An introduction to financial modeling 91 -- Introduction 91 -- Applying theory to practice 96 -- Case study: multifamily development - the value of forecasting 99 -- Summary and conclusion 111 -- Chapter 5 : Market analysis 113 -- Market analysis: supply, demand, and geography 113 -- Market studies and the real estate development process 115 -- Market research: basic principles and techniques 118 -- Population projection and cohort models 121 -- Demand, affordability, and residential development 126 -- Case study: a condo appartment development 129 -- Creating a marketing program 134 -- Retail 135 -- Commercial office space 136 -- Summary and conclusion 138 -- Chapter 6 : The planning process 140 -- Introduction 140 -- Case study: inner city development project 156 -- Chapter 7 : Real estate and the law 169 -- Introduction 169 -- Foundations and principles of private property 170 -- The law and real estates : statutes, common law, and regulations 171 -- Collective ownership of property 173 -- Right of use 174 -- Forms of ownership 177 -- Ownership and the investment community 181 -- Real estate transactions, agents, and brokers 185 -- Construction loans 188 -- Real estate closings, land title, and registration 191 -- Leases 193 -- Contruction contracts 196 -- Chapter 8 Design and contruction 202 -- A team of experts 202 -- Site planning, massing, and space planning 202 -- Mastering the art and science of construction 204 -- Technology and the modern building 204 -- Building from the ground up 205 -- Structural systems : concrete, steel, or wood 221 -- Historic restoration and preservation projects 226 -- Heating, cooling, and other building systems 227 -- Managing the design process 229 -- Chapter 9 : Project management -- Introduction: why do I need project management skills? 234 -- Time, budget, and performance 235 -- Project management defined 235 -- Application of project management to real estate development 238 -- Index 264 --
"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 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 HVAC systems for a building. An overview is provided of each building systems: 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" --
9781138602441 9781138602458
Real estate development. Real estate investment. Architecture--Project Management Business and economics--Real Estate