Creating and Growing Real Estate Wealth The 4 Stages to a Lifetime of Success

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  • Edition: 1st
  • Format: Paperback
  • Copyright: 2008-02-17
  • Publisher: FT Press
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There are plenty of "get rich quick in real estate" books. This is not one of them. Creating and Growing Real Estate Wealth is about finding the right path to success for you, and building the sustained lifetime of success you really want. Your guide, William Poorvu, is a lifelong real estate investor and consultant, and former head of the real estate program at Harvard Business School. Drawing on his personal experience-and hundreds of interviews with many of the most successful real estate investors and entrepreneurs-Poorvu illuminates every stage of your "life" in real estate: creating wealth, growing it, and managing it successfully. He reveals the milestones, pitfalls, and rewards associated with real estate investing, offering powerful insight into the challenges and opportunities you'll face as you start out...scale up...ride the industry's cyclical waves...and then leverage, share, or pass along the wealth you've created. This book contains dozens of real life personal stories, hands-on checklists, and questions to guide your decisions...and it delivers unparalleled insight into how the real estate industry really works.

Author Biography

William J. Poorvu managed the real estate program and taught real estate courses at Harvard Business School for 35 years. He has personally trained many of today’s most successful leaders in the real estate industry. He is a successful real estate entrepreneur himself and also a professional investor, both on his own behalf and for various endowment boards on which he serves. He also authored The Real Estate Game: The Intelligent Guide to Decision-Making and Investment.

Table of Contents

Acknowledgementsp. viii
About the Authorp. x
Introduction: The Many Paths to Successp. 1
Starting Outp. 7
The Starting Linep. 9
Finding a Focusp. 25
Moguls in the Makingp. 45
Scaling Upp. 59
Five Good Questionsp. 61
Good Movesp. 77
Grand Visionsp. 101
Hedging Your Betsp. 123
X Factorsp. 125
Broken-Field Runningp. 141
Moving the Fleetp. 165
Taking Stockp. 193
Your Business and Youp. 195
Your Business and Your Familyp. 209
Looking Forward, Looking Backp. 229
Indexp. 249
Table of Contents provided by Ingram. All Rights Reserved.


Praise Quotes for Creating and Growing Real Estate Praise Quotes for Creating and Growing Real Estate"This well-organized book shows what a typical life in real estate is like so that newcomers can decide whether the field is right for them. It also offers advice on how to grow real estate investments for people who are already in the industry. Poorvu includes a variety of real world stories about people and their career experiences to make for an interesting read with a practical edge." -Publishers Weekly"This new book by Bill Poorvu trumps any real estate book you've ever read." - James Grant , editor of Grant's Interest Rate Observer"The author intertwines compelling stories of real estate entrepreneurs with rock-solid advice on developing a successful real estate career. He follows the evolution of well-known figures and lesser-known players using their career paths to illustrate the pitfalls and opportunities that face real estate operators. Poorvu draws heavily on his own extremely successful experience as a teacher and real estate entrepreneur. This book belongs in the library of all who care about the fascinating field of real estate." - David Swensen , Chief Investment Officer, Yale University, and best selling author of Unconventional Success: A Fundamental Approach to Personal Investment"This is an enjoyable read filled with good advice. The author shares insights that have benefited budding real estate investors for decades. His practical perspective will benefit anyone starting out or already in the field." - Todd Mansfield , CEO, Crosland; Chair, The Urban Land Institute"This book combines the practical insights of a successful developer and the structured perspective of a master teacher. It is destined to be a classic." - John Vogel , Adjunct Professor of Business Administration, Tuck School of Business at Dartmouth Introduction: The Many Paths to SuccessReal estate is a wonderful business.It is as pure and enjoyable a form of entrepreneurship as you can find on the planet. You will come in contact with amazing people from all walks of life--people from whom you will learn more than the nuts and bolts of real estate. You have the chance to be creative, to find a niche where the competition doesn't already have an advantage of greater knowledge, better contacts, or a deeper skill set. More than most endeavors, it lets you define what's important toyou,and then go after it.And, of course, it can reward you very well financially. However, this book is not a "get rich quick in real estate" book--the kind that have spilled off the bookstore shelves in recent years. As I see it, those books are written by people who don't really understand the field, or who are simply trying to cash in on whatever is the current fad in real estate. The truth is, there are many real estate success stories, more than in most other businesses. But, few of them came easily or quickly. Most involved years of hard work: acquiring experience and building relationships with the many people you will need to help you achieve your goals.Many of these books focus on a particular path to success--one that presumably has worked well for the author--and then prescribe thateverybodygo down that same path. Several things are wrong with that approach. First, there's no single aspect of the real estate business in which everybody can be a winner. To cite just one example of an option that I've seen proposed in some books, there aren't enough foreclosure aucti

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