内容

目次

Acknowledgments xi Introduction 1 Part One The Basics 5 Chapter 1 Why Commercial Real Estate? 7 Real Value, Real Ownership, Real Estate 8 The Control Factor 10 Financing Options 10 The Leverage Edge 11 Tax Benefits 11 Access to Information 13 Easy Troubleshooting 13 Overcoming Fear 14 The Bottom Line 18 Chapter 2 Real Estate 101 21 What Is Real Estate? 21 Types of Income Properties 21 What Real Estate Can Do for You 23 The Search Begins 23 Purchase and Sale Contracts 24 Closing 25 Education 26 Real Estate Lingo 28 The Bottom Line 29 Chapter 3 Assembling the Team 31 The Broker 31 The Attorney 36 The Certified Public Accountant 38 The Bottom Line 41 Chapter 4 Getting the Money 43 Obtaining a Home Equity Loan 44 IRA Accounts 46 Cash Value of Life Insurance 47 Customized Creativity 47 The Use of Options 48 OPM 49 Ask Your Banker 49 Present Sacrifice for Future Benefits 50 The Bottom Line 52 Part Two The Big Six Formula 55 Chapter 5 Location: Planting Investment Roots 59 Evaluating Locations 60 Industrial Properties 68 Short–Term Gains and Declines 68 Long–Term Gains and Declines 69 The Bottom Line 70 Chapter 6 Building Quality and Design Efficiency: Ensuring the Long–Term Viability of Your Portfolio 73 Class A Buildings 75 Class B Buildings 76 Class C Buildings 76 Class B Apartment Buildings 77 Class B Retail Strip Store Centers 78 Class B Office Buildings 79 Industrial Properties 81 The Bottom Line 82 Chapter 7 Tenant Profile: The Right Fit 85 Factor No. 1: Rental Rate and Terms 86 Factor No. 2: Gross or Net Lease 87 Factor No. 3: Size of Units 87 Factor No. 4: Impact of a National Tenant 89 Factor No. 5: Right of First Refusal 90 Factor No. 6: Potential Condo Buyers 91 Factor No. 7: Parking Considerations 91 Factor No. 8: Undesirable Mix of Tenants 92 The Bottom Line 93 Chapter 8 Upside: Maximizing the Return on Your Holdings 95 Tenants Can Set the Price of a Building 97 Upside Strategies 98 The Bottom Line 107 Chapter 9 Financing: Choosing the Fiscal Formula That Matches Your Goals 109 Before You Begin: Your Credit Report 109 Financing Components and Dynamics 111 Appraisal 118 The Advantages of Dealing with Local Banks 118 Ideal Financing 121 Getting Your Loan Approved 122 Private Lenders 122 The Romance of Leverage 123 Infinity Return 125 All–Cash Buyers 126 Burn the Mortgage Quickly 127 Mortgage Brokers 127 Healthy versus Unhealthy Debt 127 The Bottom Line 128 Chapter 10 Price: Looking Beyond the Price Tag to See the Big Picture 129 The Price–Is–Too–High Syndrome 130 Things to Know 132 The Bottom Line 140 Chapter 11 Anatomy of a Big Six Deal 143 Adam???s Manor 143 The Sellers 144 Listing the Property 145 The Buyer 147 Setting the Stage 148 The Buyers??? Strategy 149 Sealing the Deal 152 Brokers Meet the Sellers 154 Now What? 161 The Bottom Line 162 Part Three Moving Forward 165 Chapter 12 Management and Leasing to Enhance Your Investment 167 Managing Apartment Buildings 170 Managing Small Retail Centers 175 Managing Small Bay Warehouses 179 Managing Office Buildings 183 The Bottom Line 188 Chapter 13 Condo Conversions: Big Money in Small Apartment Buildings 191 My Start in Condo Conversions 192 Criteria for Converting Small Buildings 195 Critiquing the Units 197 Announcing the Conversion 200 Announcing the Improvement Program 202 Handling the Unsold Units 203 Legal Requirements 204 Bradford Terrace: A Mini Case Study 205 The Bottom Line 211 Chapter 14 One Good Investment Is Worth a Lifetime of Labor 213 The Shift: by Jeffrey Cohen 215 I Came to New York: by Christine Marie 219 Love at First Sight: by Tony DeRosa 222 If I Never Made Another Deal: by Cliff Suchman 225 You Can Never Know Too Much: by Anthony Dilweg and Andy Roberts 228 I Made It in Buying: by Kenneth D. Rosen 231 The Bottom Line 235 Glossary 237 About the Author 247 Index 249