The Complete Guide to Financing Real Estate Developments / Edition 1

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Overview

Get Answers to All Your Questions About Financing Real Estate Development — and Tailor a Finance Package that Meets Specific Your Needs

The Completee Guide to Financing Real Estate Developments offers a detailed roadmap to navigate the complex process of financing small to large-scale real estate projects, such as office buildings, apartment complexes, and hotels.

Real estate expert Ira Nachem explores the pros and cons of large versus small institutions; how to structure and present a loan proposal, the approval and closing processes; the truth about appraisals, guarantees, insurance and lien law; financial and physical bonuses and constraints, environmental issues and many other topics.

Nachem presents in-depth information and explanations that answers questions on:

  • Who the Commercial Real Estate Lender Really Is
  • What Information Should the Borrower Produce
  • How a Workable Budget is Created
  • How the Lender Evaluates a Borrower
  • What the True Value of an Appraisal Is
  • What goes into a Lender's Loan Presentation
  • What to Expect at a Closing
  • What Key Legal Documents are Most Important
  • What the True Value of a Guarantee Is
  • How the Borrower and Lender Prepare for the Funding Process
  • What Is involved in Loan Administration After the Closing
  • What Is the View from the Borrower's Perspective
  • What Are some of the Constraints and Incentives to Development
  • What Are the Values and Risks of Insurance and Bonding
  • What Is the Reason for Title Insurance and how does it work
  • What Are the Complexities of Lien Law and how does it work
  • How Is the Loan Eventually Repaid
  • What Real Estate Math Is Essential for the Professional
  • How Important Are Environmental Issues
  • How Can the Lender Find New Loan Prospects
  • What Are the Risks and Rewards of Loan Participations

Featuring a wide range of helpful examples and illustrations, The Complete Guide to Financing Real Estate Developments covers many of the day-to-day realities faced in the real estate industry including the differing perspectives of lenders and borrowers, their personal pressures, personalities and politics, and much more.

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Product Details

  • ISBN-13: 9780071479356
  • Publisher: McGraw-Hill Professional Publishing
  • Publication date: 5/18/2007
  • Edition number: 1
  • Pages: 450
  • Sales rank: 945,220
  • Product dimensions: 6.30 (w) x 9.30 (h) x 1.67 (d)

Meet the Author

Ira W. Nachem has over 25 years of commercial real estate experience in finance, investment, development, construction and management. His executive positions in real estate banking, development, management and brokerage have given him direct involvement in all kinds of credit and equity transactions collateralized by all types of properties throughout the United States. He currently lectures on real estate and construction finance at New York University.

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Table of Contents


Preface     xi
Acknowledgments     xvii
The Commercial Real Estate Lender     1
The Borrower's Information     18
Budgeting     53
Evaluating the Borrower     87
Appraisals     115
The Loan Presentation     137
The Loan Closing, Legal Documentation, and Guarantees     189
Preparing for the Funding Process     223
Loan Mechanics after Closing     267
Project Completion     306
The Development Process from the Borrower's Perspective     319
Constraints on and Incentives for Development     341
Insurance and Bonding     361
Title Insurance and Lien Law     383
Loan Repayment     397
Real Estate Math     422
Pricing     446
Environmental Concerns     463
Marketing: Searching for Loan Prospects     483
Loan Participations     495
Problems and Issues     509
Index     531
About the Author
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