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The bad economy — and particularly the unemployment crisis — have taken a real toll on many American families. During the holidays, it’s especially tough on families with children. Recently I was delivering a toy to a local charity, thinking about the smile that I hoped would come over that child’s face, and wishing I […]
From our experience, it appears that Internal Rate of Return (IRR) is the metric of choice for many, if not most, real estate investors. However, you may be aware that there are a few issues with IRR that can cause you some vexation. That’s where MIRR comes in. […]
A number of colleges and universities have been using my books as well as my company’s Real Estate Investment Analysis software for instructional purposes in their classes on real estate finance and investment (as have I at Columbia). The “Express Edition” of the software dovetails nicely with my books, but some instructors recently asked for […]
Read More… from Real estate finance and investment education
In a previous article – Six Rules of Thumb for Every Real Estate Investor – I offered some guidance that might reasonably be held dear by every income-property investor. Woe to him or to her who doesn’t take a property’s vital signs, such as Debt Coverage Ratio, Loan-to-Value, or Cap Rate, to heart before making an […]
Read More… from Five More Rules of Thumb for Real Estate Investors
Federal Reserve V.P. and senior policy advisor John Duca has just published an exceptionally lucid article that discusses the four key “shocks” suffered by the U.S. economy during the financial crisis: As he states quite succinctly, “Home construction plunged, wealth fell, credit standards tightened and financial markets seized up.” He discusses the relationship between home […]
Read More… from Recovering from the Housing and Financial Crisis
Whether you’re scrutinizing a piece of property you already own, one you want to sell, or one you may choose to buy or develop, you need to master the metrics. The numbers always matter. Here are six basic rules to keep in mind. […]
Read More… from Six Rules of Thumb for Every Real Estate Investor
An interview with commercial real estate broker George Blackburne on the state of commercial financing. […]
Read More… from Commercial Real Estate Financing — What to Do Now
Q. Can you explain more about how preferred return works in a real estate partnership? Does it always have to go only to the limited partner or non-managing partner? A. The first point to make about real estate partnerships – whether limited, general or LLC – is that there is certainly no single, pre-defined structure […]
Read More… from Real Estate Partnerships and Preferred Return
Most of our articles have dealt with the analysis, development and acquisition of income property. It is easy to get wrapped up in the metrics of this process and to forget that eventually you’ll have to engage in the human and sometimes demanding business of actually managing the property you buy. How you fulfill that […]
Read More… from Managing for Value – A Guide for the First-Time Landlord
From time to time I teach a series of continuing education classes for Connecticut brokers and agents. The courses are entitled “Understanding Real Estate Investments” — there is a Level 1 (introductory) and Level 2 (intermediate), each for 3 credit hours as electives. I’ll be doing so again from late March to mid-May, 2010. Something […]
Read More… from Continuing Ed.: Is an Investment Class Right for You?