Construction Funding: The Process of Real Estate Development, Appraisal, and Finance / Edition 4

Construction Funding: The Process of Real Estate Development, Appraisal, and Finance / Edition 4

by Nathan S. Collier, Don A. Halperin, Courtland A. Collier
     
 

The most complete and comprehensive source on financing real estate development—now revised, updated, and expanded

The Fourth Edition of the classic Construction Funding acquaints professionals and students alike with the critical tools needed for developing any successful real estate venture. Using a case example of an actual apartment development,

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Overview

The most complete and comprehensive source on financing real estate development—now revised, updated, and expanded

The Fourth Edition of the classic Construction Funding acquaints professionals and students alike with the critical tools needed for developing any successful real estate venture. Using a case example of an actual apartment development, Construction Funding walks the reader through each phase of the project, offering invaluable guidance on selecting markets, rating sites, choosing construction professionals, raising capital, understanding financing options, and mastering cash flow management.

It covers essential topics such as creating a pro forma, understanding an appraisal, and navigating a loan application. There are many new learning features and updates included, such as:

  • Joint ventures
  • Condominiums and condo conversions
  • Key terms and their definitions
  • Chapter summaries and learning objectives
  • End-of-chapter review questions
  • Complete reference section for additional information
  • Up-to-date costs and funding methods

Written by authors with broad experience in the construction and real estate industries, Construction Funding provides a concise, yet thorough guide for graduate and undergraduate students studying real estate. It also gives professional developers, planners, contractors, and other construction professionals an invaluable reference that broadens their understanding of every development project.

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Product Details

ISBN-13:
9780470037317
Publisher:
Wiley
Publication date:
10/19/2007
Edition description:
REV
Pages:
544
Sales rank:
969,761
Product dimensions:
6.48(w) x 9.37(h) x 1.21(d)

Table of Contents

Preface.
Foreword.
I. BACKGROUND.
1. Characteristics of Real Estate.
2. Different Types of Business Organizations.
3. Negotiation.
II. THE DEVELOPMENT PROCESS START TO FINISH.
4. The Development Process: An Overview.
5. Market Studies, Site Feasibility Analysis, and Selection.
6. Creating the Project Pro Forma.
7. The Appraisal.
8. Sources of Financing, the Loan Application Process, and Term Sheets.
9. The Commitment.
10. Closing the Loan: The Note, Mortgage, Construction Loan Agreement, and Unconditional Guaranty.
III. CASH FORECASTS AND THE TIME VALUE OF MONEY.
11. How to Forecast Cash Needs During Construction.
12. Basic How-to-Do-it Time Value of Money Calculations.
Appendix A: Exhibit A-1. Real Estate Promissory Note.
Exhibit A-2. Mortgage and Security Agreement.
Exhibit A-3. Construction Loan Agreement.
Exhibit A-4. Real Estate Unconditional Guaranty.
Appendix B: Exhibit B-1. The Gainesville Sun.
Exhibit B-2. Apartment complex put on hold.
Exhibit B-3. Hidden Lake gets approval.
Appendix C: Interest Tables.
Index.

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