Essentials of Real Estate Investment

by Sirota, David

• ISBN13: 9780793126309
• ISBN10: 0793126304
• Format: Paperback
• Copyright: 1997-06-01
• Publisher: Real Estate Education Co

Summary

Now in its sixth edition, Essentials of Real Estate Investment is the perfect blend of investment theory and real-life practice. Learn the basics about investment finance, income taxes and real estate investments, property analysis and market analysis.

Table of Contents

PREFACE	vii
SECTION A: PRINCIPLES OF REAL ESTATE INVESTMENT	1	(132)
1 INTRODUCTION	1	(16)
The Nature of the Real Estate Market	2	(5)
Purposes of Investing in Real Estate	7	(2)
Advantages of Investing in Real Estate	9	(2)
Disadvantages of Investing in Real Estate	11	(2)
Summary	13	(1)
Exercise 1	14	(3)
2 OWNERSHIP INTERESTS IN REAL PROPERTY	17	(29)
Individual Ownership	17	(2)
Group Ownership	24	(6)
Trust Ownership	30	(5)
Leasehold Interests	35	(4)
Summary	39	(2)
Exercise 2	41	(5)
3 FINANCING FOR REAL ESTATE INVESTMENTS	46	(26)
Sources of Funds	47	(6)
Forms of Real Estate Finance	53	(2)
Types of Real Estate Finance	55	(5)
Special Provisions for Investment Financing	60	(5)
Defaults and Foreclosures	65	(2)
Summary	67	(3)
Exercise 3	70	(2)
4 INCOME TAXES AND REAL ESTATE INVESTMENTS	72	(18)
Income Subject to Tax	73	(2)
Income Tax Rates	75	(2)
Real Estate Investments as Tax Shelters for Ordinary Income	77	(3)
Real Estate Investments as Tax Shelters ror Capital Gains	80	(6)
Summary	86	(1)
Exercise 4	87	(3)
5 FEASIBILITY STUDIES OF REAL ESTATE INVESTMENTS	90	(19)
Market Analysis	90	(12)
Property Analysis	102	(3)
Summary	105	(1)
Exercise 5	106	(3)
6 FINANCIAL ANALYSIS OF REAL ESTATE INVESTMENTS	109	(24)
Financial Analysis	109	(16)
Calculators and Personal Computers	125	(1)
Summary	126	(1)
Exercise 6	127	(6)
SECTION B: PRACTICES OF REAL ESTATE INVESTMENT	133	(119)
7 INVESTING IN LAND	133	(20)
Essentials of Land Investment Feasibility Studies	134	(3)
Single-Lot Investments	137	(2)
Acreage	139	(10)
Foreign Investors	149	(1)
Summary	149	(2)
Exercise 7	151	(2)
8 INVESTING IN RESIDENTIAL PROPERTIES	153	(30)
Single-Family Detached Homes	153	(5)
The Fair Housing Act	158	(1)
Multiunit Apartment Rentals	159	(6)
Cooperatives	165	(3)
Condominiums	168	(4)
Conversions to Condominiums	172	(3)
Summary	175	(2)
Exercise 8	177	(6)
9 INVESTING IN OFFICE BUILDINGS	183	(15)
Office Building Management	184	(4)
Types of Office Investments	188	(6)
Summary	194	(2)
Exercise 9	196	(2)
10 INVESTING IN STRIP STORES AND SHOPPING CENTERS	198	(20)
Strip Store Buildings	199	(1)
Management Requirements	200	(1)
Neighborhood Shopping Centers	201	(3)
Community Shopping Centers	204	(2)
Regional and Super-Regional Shopping Centers	206	(2)
Management Requirements	208	(1)
Factory Outlet Malls	208	(1)
Summary	209	(1)
Exercise 10	210	(8)
11 INVESTING IN INDUSTRIAL PROPERTIES	218	(17)
The Industrial Real Estate Market	219	(2)
Characteristics of Industrial Real Estate	221	(4)
Types of Industrial Investments	225	(6)
Summary	231	(1)
Exercise 11	232	(3)
12 SPECIAL REAL ESTATE INVESTMENTS	235	(17)
Mobile-Home Parks	235	(3)
Diverse Realty Investments	238	(5)
Alternate Investment Opportunities	243	(4)
Summary	247	(2)
Exercise 12	249	(3)
GLOSSARY	252	(9)
ANSWER KEY	261	(2)
INDEX	263