{"product_id":"the-complete-guide-to-real-estate-finance-for-investment-properties-9780471647126","title":"The Complete Guide to Real Estate Finance for","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThis 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:\u003cbr\u003e * Proven, effective valuation techniques\u003cbr\u003e * Finance tips for all different kinds of property\u003cbr\u003e * How various financing strategies affect investments\u003cbr\u003e * Structuring financial instruments, including leverage, debt, equity, and partnerships\u003cbr\u003e * Measurements and ratios for investment performance, including capitalization rates and gross rent multiplier ratios\u003cbr\u003e * Future and present value analysis\u003cbr\u003e * How the appraisal process works\u003cbr\u003e * Primary appr\u003cbr\u003e\u003cbr\u003e\u003cb\u003eTable of Contents\u003c\/b\u003e\u003cbr\u003e\u003cp\u003e\u003cb\u003ePart 1 Real Estate Finance 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Introduction to Real Estate Finance 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFinance as a Discipline 6\u003c\/p\u003e \u003cp\u003eThe Relevance of Finance as It Applies to Value 9\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Primary Investment Elements and Their Effect on Financing Strategies 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTime Horizon 13\u003c\/p\u003e \u003cp\u003eVolume of Investment Activity 18\u003c\/p\u003e \u003cp\u003eType of Property 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Secondary Investment Elements and Their Effect on Financing Strategies 27\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCost of Funds 28\u003c\/p\u003e \u003cp\u003eAmortization Period 31\u003c\/p\u003e \u003cp\u003eAmount of Funds Borrowed 35\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Additional Investment Elements and Their Effect on Financing Strategies 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLoan Duration 43\u003c\/p\u003e \u003cp\u003eLoan Fees 46\u003c\/p\u003e \u003cp\u003ePrepayment Penalties 54\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Structuring Financial Instruments 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLeverage 61\u003c\/p\u003e \u003cp\u003eDebt 64\u003c\/p\u003e \u003cp\u003eEquity 67\u003c\/p\u003e \u003cp\u003ePartnerships 69\u003c\/p\u003e \u003cp\u003eBlended Financing and the Weighted Average Cost of Capital 72\u003c\/p\u003e \u003cp\u003eOptions 76\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Real Estate Investment Performance Measurements and Ratios 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eNet Income Return on Investment 84\u003c\/p\u003e \u003cp\u003eCash Return on Investment 85\u003c\/p\u003e \u003cp\u003eTotal Return on Investment 86\u003c\/p\u003e \u003cp\u003eNet Operating Income 87\u003c\/p\u003e \u003cp\u003eCapitalization Ratio 89\u003c\/p\u003e \u003cp\u003eDebt Service Coverage Ratio 92\u003c\/p\u003e \u003cp\u003eOperating Efficiency Ratio 93\u003c\/p\u003e \u003cp\u003eGross Rent Multiplier 98\u003c\/p\u003e \u003cp\u003eOperating Ratio 99\u003c\/p\u003e \u003cp\u003eBreak-Even Ratio 100\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Advanced Real Estate Investment Analysis 103\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFuture Value Analysis 103\u003c\/p\u003e \u003cp\u003ePresent Value Analysis 108\u003c\/p\u003e \u003cp\u003eNet Present Value Analysis 111\u003c\/p\u003e \u003cp\u003eInternal Rate of Return 113\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 The Valuation of Real Property 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAppraisal Defined 121\u003c\/p\u003e \u003cp\u003eThe Nature of Price and Value 122\u003c\/p\u003e \u003cp\u003eThree Primary Appraisal Methods 123\u003c\/p\u003e \u003cp\u003eReplacement Cost Method 123\u003c\/p\u003e \u003cp\u003eSales Comparison Method 126\u003c\/p\u003e \u003cp\u003eIncome Capitalization Method 128\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Financial Statements and Schedules 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIncome Statement 136\u003c\/p\u003e \u003cp\u003eBalance Statement 143\u003c\/p\u003e \u003cp\u003eStatement of Cash Flows 148\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 2 Case Study Review: Practical Application of Valuation Analysis 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Case Study 1: Single-Family Rental House 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTest 1: Comparable Sales Analysis 157\u003c\/p\u003e \u003cp\u003eTest 2: Cash Flow Analysis 162\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Case Study 2: Single-Family to Multifamily Conversion 175\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExploring Alternative Possibilities 175\u003c\/p\u003e \u003cp\u003eThe Relationship between Risk and Reward 180\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Case Study 3: Multifamily Apartment Complex 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Case Study 4: Single-Family Conversion to Commercial Office Building 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart 3 Epilogue and Appendixes 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Epilogue: Destined for Greatness 231\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePrior Works 231\u003c\/p\u003e \u003cp\u003eDestined for Greatness 233\u003c\/p\u003e \u003cp\u003eAppendix A www.thevalueplay.com 243\u003c\/p\u003e \u003cp\u003eAppendix B www.symphony-homes.com 245\u003c\/p\u003e \u003cp\u003eGlossary 247\u003c\/p\u003e \u003cp\u003eIndex 269\u003c\/p\u003e","brand":"John Wiley \u0026 Sons Inc","offers":[{"title":"Default Title","offer_id":49402648133975,"sku":"9780471647126","price":23.8,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0817\/1739\/5799\/files\/9780471647126.jpg?v=1730481107","url":"https:\/\/bookcurl.com\/products\/the-complete-guide-to-real-estate-finance-for-investment-properties-9780471647126","provider":"Book 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