The Complete Guide to Financing Real Estate Developments

by Nachem, Ira

• ISBN13: 9780071479356
• ISBN10: 007147935X
• eBook ISBN(s): 9780071510813
• Edition: 1st
• Format: Hardcover
• Copyright: 2007-07-17
• Publisher: McGraw-Hill Education

Summary

Packed with examples and illustrations, this resource will enable you to: Achieve greater technical proficiency from project inception to final loan paydown Better assess how much of a loan you will receive (or make), under what terms, and how to argue for a better and more favorable deal Understand the wants, needs, constraints and pressures of the important players and use your knowledge to your advantage Anticipate obstacles and address issues before they become major ones Increase your personal confidence, become more competitive, raise your level of success, and close more transactions

Author Biography

Ira W. Nachem has over 25 years of commercial real estate experience in finance, investment, development, construction and management. His executive positions in real estate banking, development, management and brokerage have given him direct involvement in all kinds of credit and equity transactions collateralized by all types of properties throughout the United States. He currently lectures on real estate and construction finance at New York University.

Table of Contents

Preface	p. xi
Acknowledgments	p. xvii
The Commercial Real Estate Lender	p. 1
The Borrower's Information	p. 18
Budgeting	p. 53
Evaluating the Borrower	p. 87
Appraisals	p. 115
The Loan Presentation	p. 137
The Loan Closing, Legal Documentation, and Guarantees	p. 189
Preparing for the Funding Process	p. 223
Loan Mechanics after Closing	p. 267
Project Completion	p. 306
The Development Process from the Borrower's Perspective	p. 319
Constraints on and Incentives for Development	p. 341
Insurance and Bonding	p. 361
Title Insurance and Lien Law	p. 383
Loan Repayment	p. 397
Real Estate Math	p. 422
Pricing	p. 446
Environmental Concerns	p. 463
Marketing: Searching for Loan Prospects	p. 483
Loan Participations	p. 495
Problems and Issues	p. 509
Index	p. 531
About the Author
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