Investment Real Estate by Prassas, Fred W. -- Read -- Imperial Library of Trantor

Index

Cover Half Title Page Title Page Copyright Preface Acknowlegements About the Author Table of Contents Chapter 1 Why Real Estate Finance?

Owner’s Goals and Objectives The Role of the Real Estate Manager

Chapter 2 Economics of Real Estate Investment

Business and Real Estate Cycles Macroeconomic Effects on Real Estate

Chapter 3 The Finance Function

Real Estate Management Company Structures The Accounting Function Accounting Personnel Accounting Departments in Small and Large Offices Accounting Requirements by Property Types Establishing Financial Policies and Procedures Ethical Management and Protection of Funds

Chapter 4 Accounting Basics

Types of Accounting Generally Accepted Accounting Principles (GAAP) Using and Creating a Chart of Accounts

Chapter 5 Understanding and Implementing Budgets

Types of Budgets Forecasting Choosing a Forecasting Method Variance Analysis Budgeting Ethics and Decision-Making Tools and Conventions for Budgeting Budgeting Exceptions

Chapter 6 Cash Flow Analysis

Significance of NOI and BTCF Components of the Pro Forma Statement Cash Flow Trends Data Analysis and Accuracy

Chapter 7 Financial Reporting

Real-Time Data and Reporting Financial Reporting Requirements Financial Accounting and External Reporting Managerial Accounting and Internal Reporting Financial Reports Sharing Operating Data

Chapter 8 Financing Basics

A Brief History of Lending and Banking Sources of Financing Today Loan Funding Types of Loans Costs of Borrowing Preparing a Loan Package

Chapter 9 Loan Analysis

Lender Criteria Lender Risk Lenders’ Return on Investment Loans as an Asset Lender Tests Lenders’ Rights Lender Recourse Leverage Position Analyzing Leverage Position Break-Even Analyses

Chapter 10 Time Value of Money

Compounding and Discounting T-Bars and Timelines Six Functions of a Dollar Monthly Installments and Cash Flow Timing Creating Amortization Schedules

Chapter 11 Measuring the Performance of Properties

Measuring Investment Return

Chapter 12 Property Valuation

Principles of Land Economics The Purpose of Appraisals Appraisal Reports Valuation Valuation Approaches Deriving the Capitalization Rate Equity Capitalization and Investment Value Ethical Valuation

Chapter 13 Discounted Cash Flow

Components of DCF Analysis Market and Investment Value Calculating Market Value Calculating Investment Value

Chapter 14 Financial Analysis and Making Recommendations

Before Tax Cash Flow Analysis Midstream Analysis Performing a Midstream Analysis Analyzing Property Alternatives Example: Midstream Analysis of Alternatives Recommending a Course of Action Example: Making a Recommendation

Chapter 15 Lease Analysis

Lease Concessions and Effective Rent (Short-Term and Long-Term Leases) Lease Buyouts Comparing Lease Proposals

Chapter 16 After-Tax Cash Flow

Income Tax Capital Gains Tax Example: After Tax Cash Flow Analysis

Appendix References Glossary