DOCSLIB.ORG

The No-Nonsense Real Estate Investor's

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The No-Nonsense Real Estate Investor's luci_a01ffirs.qxd 2/24/06 10:11 AM Page iii THE NO-NONSENSE REAL ESTATE INVESTOR’S KIT How You Can Double Your Income by Investing in Real Estate on a Part-Time Basis THOMAS J. LUCIER John Wiley & Sons, Inc. luci_a01ffirs.qxd 2/24/06 10:11 AM Page vi luci_a01ffirs.qxd 2/24/06 10:11 AM Page i The No-Nonsense Real Estate Investor’s Kit luci_a01ffirs.qxd 2/24/06 10:11 AM Page ii luci_a01ffirs.qxd 2/24/06 10:11 AM Page iii THE NO-NONSENSE REAL ESTATE INVESTOR’S KIT How You Can Double Your Income by Investing in Real Estate on a Part-Time Basis THOMAS J. LUCIER John Wiley & Sons, Inc. luci_a01ffirs.qxd 2/24/06 10:11 AM Page iv This book is printed on acid-free paper. ➇ Copyright © 2006 by Thomas J. Lucier. All rights reserved. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at http://www.wiley.com/go/permissions. Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages. For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993 or fax (317) 572-4002. Wiley also publishes its books in a variety of electronic formats. Some content that appears in print may not be available in electronic books. For more information about Wiley products, visit our web site at www.wiley.com. Library of Congress Cataloging-in-Publication Data: Lucier, Thomas J. The no-nonsense real estate investor ’s kit : how you can double your income by investing in real estate on a part-time basis / Thomas J. Lucier. p. cm. Includes index. ISBN-13: 978-0-471-75653-8 ISBN-10: 0-471-75653-9 1. Real estate investment—United States. 2. Real property—Purchasing—United States. 3. House buying—United States. 4. House selling—United States. I. Title. HD255.L8286 2006 332.63′240973—dc22 2005034024 Printed in the United States of America. 10987654321 luci_a01ffirs.qxd 2/24/06 10:11 AM Page v To my good friend and fellow real estate entrepreneur, Lucas Hoppel, keep on keeping on! luci_a01ffirs.qxd 2/24/06 10:11 AM Page vi luci_a02ftoc.qxd 2/23/06 10:09 AM Page vii CONTENTS LIST OF DOWNLOADABLE FORMS xv PART I HOW TO GET STARTED TODAY AS A PROFITABLE REAL ESTATE INVESTOR CHAPTER 1 How You Can Double Your Annual Income by Investing in Real Estate on a Part-Time Basis 3 What you need to know about the real estate bubble babble in the media. • Why this may turn out to be the Golden Age of real estate investing in America. • Why you shouldn’t start out in the real estate investment business as a full- time investor. • How you can double your annual income by investing in real estate on a part-time basis. • How you can use my nine-step process for buying and selling real estate. •How to contact the most accessible real estate author in America right now. CHAPTER 2 What It Takes to Be a Successful Real Estate Investor in Today’s Competitive Market 17 What every investor must possess to succeed in the real estate investment business today. • Why you must obtain your real estate knowledge from reliable sources. • How to avoid doing business with incompetent real estate service providers. • What you need to know about real estate investment clubs. • What you need to know about your perceived competition. • How to use this book to become your own real estate investment expert. CHAPTER 3 How to Reduce Your Risk and Limit Your Liability as a Real Estate Investor 34 Why it’s always best for real estate investors to maintain a low profile. • The four types of insurance coverage that all real estate investors should carry. • Sixteen ways that you can reduce your annual insurance premium payments. • vii luci_a02ftoc.qxd 2/23/06 10:09 AM Page viii viii CONTENTS Why you must carry adequate general liability insurance coverage. • Why it’s best to use the services of an independent insurance agent who represent many insurers. •How to form a business entity in your state. CHAPTER 4 How to Set Up and Operate Your Real Estate Investment Business for Maximum Efficiency and Profitability 55 How to obtain the maximum return on each hour that you invest in your real estate investment business. • How to operate your real estate investment business on a bare- bones budget. • How to set up a home office for your real estate business that you can deduct for tax purposes. • What you’ll need to set up shop as a real estate investor. • What it takes to run a real estate investment business at maximum efficiency. • How to maintain accurate records for your real estate business. CHAPTER 5 How to Choose Real Estate Investment Strategies That Will Work for You 72 Why you should have more than one investment strategy in your repertoire. • The four main ways that investors can profit from owning property. • Why your investment strategies must be goal oriented. • Why you must prepare a written plan of action for achieving your investment goals. •How to know what type of real estate market you’re investing in. • How to maintain a balance between your family and your real estate investment business. PART II FIVE REALISTIC INVESTMENT STRATEGIES THAT YOU CAN USE TO MAKE MONEY FROM REAL ESTATE TODAY CHAPTER 6 Why Most of the Creative Real Estate Investment Strategies Being Taught Today Seldom Work Well 85 The five creative real estate investment strategies that very seldom work well. • Why creative investment strategies involve high-risk, low-profit type deals. • Why it’s next to impossible for inexperienced wannabe investors, who are broke and have lousy credit, to successfully use creative investment strategies. • How the so-called cash back at closing strategy requires investors to commit loan fraud. • What creative real estate hucksters don’t tell seminar attendees about the strategies they teach. • Why creative luci_a02ftoc.qxd 2/23/06 10:09 AM Page ix Contents ix real estate transactions are so closely scrutinized by closing agents and lenders. CHAPTER 7 How to Make Money from Vacant Properties That Aren’t Advertised as Being for Sale 94 Why vacant properties can be a bonanza for savvy real estate investors. • How I made a $30,000 profit from a vacant building full of pigeon droppings. • How to quickly find the owners of vacant properties. • The 10 telltale signs that a property is probably vacant. • What to check for when looking over a vacant property. • How to make an unsolicited offer to purchase a vacant piece of property. • Vacant property checklist. • Letter to vacant property owners. CHAPTER 8 How to Profit from Properties That Have Been Condemned for Code Violations 105 The three most common types of code violations. • How the code enforcement process works in most jurisdictions. • Where to find your local code enforcement regulations online. • How to get the addresses of all the condemned properties in your city or county. • How to effectively deal with local code enforcement bureaucrats. • How to contact the owners of condemned properties. • Letter to condemned property owners. CHAPTER 9 How You Can Earn Tax-Free Income for the Rest of Your Life as a Serial Home Buyer 114 Why being a serial home buyer may be the ideal real estate investment strategy. • Five types of properties that qualify as a principal residence. • Six factors the IRS considers to determine a home owner ’s principal residence. • How married couples can earn up to $500,000 tax-free every two years. • How single and joint home owners can earn up to $250,000 every two years. • How to use real estate options to keep houses in the pipeline for future purchase. CHAPTER 10 How to Profit from Problem Properties That Scare Off Most Investors 123 The four most profitable types of problem properties to buy. • Why you must know the difference between correctable and non-correctable property problems. • The four most efficient ways to find problem properties. • How to find solutions to property problems. • How to contact luci_a02ftoc.qxd 2/23/06 10:09 AM Page x xCONTENTS problem property owners.
Load more

Recommended publications
  • Leadership Principles for Today's Residential Real Estate Brokers1
    HR029 Leadership Principles for Today’s Residential Real Estate Brokers1 Derek Farnsworth, Jennifer L. Clark, Aarambh Shah, and Allen F. Wysocki2 Introduction The US residential real estate industry can be a tumultuous market. It is not always possible to list properties on the multiple listing service (MLS) and have multiple bids above the full listing price. Brokers may face challenges making their customary listing commission from the sales price of a home. Properties can lose their equity or go “upside down” (i.e., the mortgage balance is greater than the market value of the home). Thus, with no equity, homes cannot sell and brokers cannot make commissions. Despite these potential issues, there are opportunities for real estate brokers willing to implement the leadership principles based on the residential real estate brokerage Credits: Creatas/Thinkstock.com business model discussed herein. This includes implement- ing the vision-influence-passion (VIP) framework, creating Real Estate Industry a niche-based business focused on listing and selling REO According to the dictionary of real estate terms, a real estate properties (real estate owned by a bank or lender), creat- brokerage is defined as “the business of being a broker, ing a large value network, and implementing leadership which is a state-licensed agent who, for a fee, acts for principles to empower listing agents. property owners in real estate transactions within the scope of the law” (Friedman, Harris, and Linderman 2008). In ad- dition, according to the IBIS World Industry Report (2009), the business of residential real estate sales and brokerage is classified in the United States under NAICS Code 53121, which consists of operators acting as agents or brokers who sell, purchase, and lease real estate for others.
    [Show full text]
  • REAL ESTATE DEVELOPMENT and ENTREPRENEURSHIP
    STERN SCHOOL OF BUSINESS NEW YORK UNIVERSITY COURSE SYLLABUS OPMG.GB.2360.10 REAL ESTATE DEVELOPMENT and ENTREPRENEURSHIP Fall semester September 21 – December 14, 2021 Tuesday evenings COURSE OVERVIEW: This course will introduce students to the broad aspects of real estate development from an entrepreneurial perspective. It is directed to students interested in real estate development from the point of view of three classes of investors: o an entrepreneurial investor, looking to buy a coop, condo or small property for individual use or rental o a working general partner of a small group of investors, who will actually manage &/or be responsible for overseeing the property after purchase o a passive outside investor, who may be searching for an investment that is limited in liability to the original investment Operations involves the decisions made at the operating level of a business or project to assure the attainment of higher level goals and strategies. In real estate development, these operating decisions will determine whether or not a deal will be successful and meet overall financial goals. Many students may choose to pursue investments in real estate, and often to actually operate and manage the properties. Although some students will not work full-time in the real estate industry, property investments will arise as opportunities to increase passive income and wealth. Understanding how these deals are created and managed will allow investors to choose deals with the highest probability of success. The real estate topics discussed in the course will include all types of development: residential, hotel, office, retail, land and industrial properties.
    [Show full text]
  • How to Be a Real Estate Investor
    How to be a Real Estate Investor Discover how you can make fast cash and build wealth investing in real estate By Phil Pustejovsky Copyright © MMXVI Phil Pustejovsky All rights reserved. Without limiting the rights under copy- right reserved above, no part of this publication may be re- produced, stored in or introduced into a retrieval system, or transmitted, in any form, or by any means (electronic, me- chanical, photocopying, recording, or otherwise), without the prior written permission of both the copyright owner and the publisher of this publication. Any unauthorized transfer of license, use, photocopying, or distribution of these materials to anyone else other than the licensed client/purchaser is prohibited and will be prosecuted to the full extent of the law. ISBN-13: 978-1475235210 ISBN-10: 1475235216 DISCLAIMER: This publication is for informational pur- poses only. Please consult qualified attorneys, accountants and other professionals regarding business and investment decisions. This book is dedicated to anyone who has ever dreamed big. You are capable of far more than you could ever imagine. Contents Introduction ........................................................................................ 7 Part 1: Why Be a Real Estate Investor? ............................................ 25 Part 2: How to Think Like an Investor ............................................. 35 Your Why ...................................................................................... 35 Pain and Pleasure ........................................................................
    [Show full text]
  • Essex Property Trust, Inc. 837.92 800 700 600 500 NAREIT 400 387.21 All Equity REIT Index 300 200 238.35 S&P 500* 100
    SUPPLY CONSTRAINED MARKETS ECONOMIC 2005 ANNUAL REPORT RESEARCH STRATEGY EXPERIENCED MANAGEMENT TEAM CONSISTENT DIVIDEND INCREASES Creating the communities people call home.™ DIVERSIFIED CAPITAL RESOURCES acquisitions development redevelopment acquisitions development essex 2005 annual report ESSEX PROPERTY TRUST, INC ESSEX’S BEGINNINGS GO BACK TO 1971, WHEN REAL ESTATE ENTREPRENEUR, GEORGE M. MARCUS FORMED ESSEX PROPERTY SUPPLY CORPORATION. IN 1994, WITH A PORTFOLIO OF 16 MULTIFAMILY COMMUNITIES, THE COMPANY MADE ITS PUBLIC DEBUT AS CONSTRAINED MARKETS ESSEX PROPERTY TRUST, INC. (NYSE:ESS) - A FULLY INTEGRATED REAL ESTATE INVESTMENT TRUST (REIT) THAT ACQUIRES, DEVELOPS, REDEVELOPS, AND MANAGES MULTIFAMILY APARTMENT COMMUNITIES LOCATED IN SUPPLY CONSTRAINED MARKETS. TODAY, ESSEX’S PORTFOLIO HAS GROWN TO 126 APARTMENT COMMUNITIES, COMPRISED OF APPROXIMATELY 27,000 UNITS, WITH 505 UNITS IN VARIOUS STAGES OF DEVELOPMENT. THE PORTFOLIO IS CURRENTLY CONCENTRATED ALONG THE WEST COAST – SEATTLE METROPOLITAN AREA, THE SAN FRANCISCO BAY AREA, AND SOUTHERN CALIFORNIA. ECONOMIC RESEARCH STRATEGY EXPERIENCED MANAGEMENT TEAM CONSISTENT DIVIDEND INCREASES “We anticipate that positive market trends, combined with the intrinsic attributes of our supply-constrained markets, will allow the Company to deliver significant growth.” DIVERSIFIED CAPITAL Keith R. Guericke RESOURCES President and CEO Essex Property Trust, Inc. 1 acquisitions development redevelopment acquisitions development essex 2005 annual report 4.6% SAME-PROPERTY NOI GROWTH 25% TEN YEAR
    [Show full text]
  • REAL ESTATE DEVELOPMENT and ENTREPRENEURSHIP
    STERN SCHOOL OF BUSINESS NEW YORK UNIVERSITY COURSE SYLLABUS OPMG.GB.2360.10 REAL ESTATE DEVELOPMENT and ENTREPRENEURSHIP Fall semester September 22 – December 8, 2020 Tuesday evenings COURSE OVERVIEW: • This course will introduce students to the broad aspects of real estate development from an entrepreneurial perspective. It is directed to students interested in real estate development from the point of view of three classes of investors: o an entrepreneurial investor, looking to buy a coop, condo or small property for individual use or rental o a working general partner of a small group of investors, who will actually manage &/or be responsible for overseeing the property after purchase o a passive outside investor, who may be searching for an investment that is limited in liability to the original investment • Operations involves the decisions made at the operating level of a business or project to assure the attainment of higher level goals and strategies. In real estate development, these operating decisions will determine whether or not a deal will be successful and meet overall financial goals. Many students may choose to pursue investments in real estate, and often to actually operate and manage the properties. Although some students will not work full-time in the real estate industry, property investments will arise as opportunities to increase passive income and wealth. Understanding how these deals are created and managed will allow investors to choose deals with the highest probability of success. The real estate topics discussed in the course will include all types of development: residential, hotel, office, retail, land and industrial properties.
    [Show full text]
  • Technology in the Real Estate Sector
    Technology in the real estate sector PropTech reduces risks and increases value ING Economics Department • June 2018 << Contents Conclusion: PropTech reduces risks and increases value Restrictions for innovation in real estate New technologies increase innovation in the real Opportunity for higher value through PropTech The real estate sector is not known as an estate market... PropTech can ultimately increase the value of real estate innovative sector. The growth in labour productivity in the New technologies (such as sensors, big data and data through: sector has stagnated for a long time and, in comparison analytics) enable the real estate market to innovate more. • Higher rental returns because the tenant is prepared to to other sectors, there is hardly any investment in R&D. Under the name PropTech, there are new technological pay a higher price per m2. Efficient occupancy means that Important explanations are: applications to improve the use, sale and hire of buildings fewer m2s are needed, the quality improves and Smart • Long operating life of real estate: and make this more efficient. That’s why investments in Buildings result in lower energy costs. which means that new technologies are slow to replace PropTech companies increased considerably in recent years • Lower risk for real estate investors. Big data improves real the old. and the expectation is that these will further increase in the estate valuation. What’s more, the liquidity of real estate • Capital intensive: coming years. increases through the further development of platforms. This makes entry difficult for starting entrepreneurs with Finally, Smart Buildings reduce the risk of vacancies, as good ideas.
    [Show full text]
  • B8426 REAL ESTATE ENTREPRENEURSHIP Fall 2019
    B8426 REAL ESTATE ENTREPRENEURSHIP Fall 2019 Professor: Zach Aarons Professor: Brian P. Lancaster E-mail: [email protected] E-mail: [email protected] Phone: 917-297-7751 (cell) Phone: 860-898-0436 (cell) Office Hours: By Appointment Office Hours: By appointment Teaching Assistant: Shrey Gupta E-mail: [email protected] Phone: 917-900-5159 (cell) Office Hours: By Appointment ------------------------------------------------------------------------------------------------------------------------------- Schedule and Location Mondays, 5:45 pm - 9:00 pm Classroom: Uris 141 Course Description: Real estate has historically been an entrepreneurial industry. Great fortunes and enterprises have been created by real estate entrepreneurs who started as investors, brokers, property managers, contractors, inventors, and even programmers. While investment management has become more institutionalized, there remain strong opportunities for individual investors to find deals and projects that fly below the radar screen of larger institutions. At the same time, real estate technology companies are threatening traditional business models in real estate services (brokerage and modeling), property management (energy efficiency and tenant services), capital markets (crowdfunding and financing), and, of course, ownership and leasing (AirBNB and WeWork). Some real estate owners and managers have responded to technological innovations not just by becoming early adopters, but also by creating their own venture capital arms to invest in the firms
    [Show full text]
  • The Securitization of Debt and Equity in Real Estate: Prospects for Law in the Twenty-First Century
    University of Chicago Law School Chicago Unbound Journal Articles Faculty Scholarship 1999 The Securitization of Debt and Equity in Real Estate: Prospects for Law in the Twenty-First Century Michael H. Schill Follow this and additional works at: https://chicagounbound.uchicago.edu/journal_articles Part of the Law Commons Recommended Citation Michael H. Schill, "The Securitization of Debt and Equity in Real Estate: Prospects for Law in the Twenty- First Century," 32 John Marshall Law Review 269 (1999). This Article is brought to you for free and open access by the Faculty Scholarship at Chicago Unbound. It has been accepted for inclusion in Journal Articles by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. THE IMPACT OF THE CAPITAL MARKETS ON REAL ESTATE LAW AND PRACTICE MICHAEL H. SCHILL* Over the past twenty years, the real estate markets of the United States have been swept by enormous change. A sector of the economy that had long been resistant to change, real estate has been and is continuing to be transformed by the process of securi- tization on both the debt and equity side. Just twenty years ago, the vast majority of single family residential mortgage loans were provided by local banks or savings and loan associations that held the debt in their portfolios until maturity or prepayment. Today, most single family mortgage debt is sold into the secondary mort- gage market and converted into securities. Ten years ago, mort- gage loans for commercial properties were largely originated and held by commercial banks, pension funds or insurance companies.
    [Show full text]
  • Kardan N.V. 2010 Barnea Report Dated 31-12-2010
    Chapter A: Description of the General Development of Kardan NV’s Business 1. Kardan NV’s activities and a description of the development of its business 1.1 General 1.1.1 Kardan N.V. (“Kardan NV”) was incorporated in the Netherlands in 2003 as a wholly owned subsidiary of Kardan Israel Ltd. (“Kardan Israel”), which, at that time, was a public company whose shares were traded on the Tel Aviv Stock Exchange Ltd. (“The Tel Aviv Stock Exchange”). In July 2003, Kardan NV completed an alternative tender offer, under which it purchased the entire holdings of Kardan Israel from the shareholders of Kardan Israel, in consideration of an allocation of Kardan NV shares. The shares of Kardan NV were listed for trading on both the Tel Aviv Stock Exchange and the Pan-European Securities Exchange in Amsterdam – NYSE Euronext Amsterdam. Following the aforementioned process, Kardan Israel became a wholly owned subsidiary of Kardan NV; in June 2005, the shares of Kardan Israel were listed for trading on the Tel Aviv Stock Exchange and it again became a public company. 1.1.2 Since Kardan NV is a Dutch company, whose shares are traded on the Amsterdam Stock Exchange, it is subject to Dutch law, including corporate law in the Netherlands and securities law in the Netherlands, and it is not subject to the Companies Law, 1999 or the regulations enacted by virtue thereof. In addition, because Kardan NV securities were also issued to the public in Israel, Kardan NV is subject to the Securities Law, 1968 and to the regulations enacted by virtue thereof.
    [Show full text]
  • Essex Property Trust, Inc. 2004 ANNUAL REPORT on FORM 10-K
    2004 annual report 2004 annual 1994 the proven leader in west coast apartments 1995 1996 1997 essexpropertytrust.com 1998 1999 2000 2001 2004 ANNUAL REPORT serving essex’s shareholders 1994 to 2004 2002 2003 2004 essex 2004 annual report financial highlights property revenues ffo per diluted share(2) essex Years Ended December 31 Years Ended December 31 ($ in millions) 4.39 4.38 4.49 $300 283.5 $4.50 4.09 3.90 251.6 4.00 250 3.50 ESSEX’S BEGINNINGS GO BACK TO 1971, WHEN REAL ESTATE ENTREPRENEUR, GEORGE M. MARCUS 211.1 200 181.4 3.00 FORMED ESSEX PROPERTY CORPORATION. IN 1994, WITH A PORTFOLIO OF 16 MULTIFAMILY 165.9 2.50 150 COMMUNITIES, THE COMPANY MADE ITS PUBLIC DEBUT AS ESSEX PROPERTY TRUST, INC. (NYSE: 2.00 1.83 100 1.50 ESS)-A FULLY INTEGRATED REAL ESTATE INVESTMENT TRUST (REIT) THAT ACQUIRES, DEVELOPS, 1.00 $ 50 39.0 .50 REDEVELOPS, AND MANAGES MULTIFAMILY APARTMENT COMMUNITIES FOCUSED ON SUPPLY $ 94 00 01 02 03 04 94 00 01 02 03 04 CONSTRAINED MARKETS ALONG THE WEST COAST – THE SAN FRANCISCO BAY AREA, SOUTHERN common stock ffo payout ratio dividends per share Years Ended December 31 CALIFORNIA, AND THE SEATTLE METROPOLITAN AREA. TODAY, ESSEX HAS OWNERSHIP INTERESTS Years Ended December 31 100% $4.00 IN OVER 120 MULTIFAMILY PROPERTIES, AGGREGATING APPROXIMATELY 26,000 APARTMENT 91 90 3.16 HOMES, WITH 777 UNITS IN VARIOUS STAGES OF DEVELOPMENT. 80 76 3.08 3.12 70 70 3.00 2.80 70 64 61 60 2.38 50 2.00 40 1.67 30 20 $1.00 10% 94 00 01 02 03 04 94 00 01 02 03 04 1994 results are annualized for comparative purposes As of December 31
    [Show full text]
  • Real Estate Equity Investments and the Institutional Lender: Nothing Ventured, Nothing Gained
    Fordham Law Review Volume 39 Issue 4 Article 1 1971 Real Estate Equity Investments and the Institutional Lender: Nothing Ventured, Nothing Gained Frank E. Roegge Gerard J. Talbot Robert M. Zinman Follow this and additional works at: https://ir.lawnet.fordham.edu/flr Part of the Law Commons Recommended Citation Frank E. Roegge, Gerard J. Talbot, and Robert M. Zinman, Real Estate Equity Investments and the Institutional Lender: Nothing Ventured, Nothing Gained, 39 Fordham L. Rev. 579 (1971). Available at: https://ir.lawnet.fordham.edu/flr/vol39/iss4/1 This Article is brought to you for free and open access by FLASH: The Fordham Law Archive of Scholarship and History. It has been accepted for inclusion in Fordham Law Review by an authorized editor of FLASH: The Fordham Law Archive of Scholarship and History. For more information, please contact [email protected]. REAL ESTATE EQUITY INVESTMENTS AND THE INSTITUTIONAL LENDER: NOTHING VENTURED, NOTHING GAINED FRANK E. ROEGGE, GERARD J. TALBOT, AND ROBERT 2f. ZINMAN* I. THE INSTITUTIONAL LENDER AS A REAL ESTATE ENTREPRENEUR IN recent years there has been much talk about the activity of institu- tional investors in what are loosely called "joint ventures" in real estate. These investments may include single buildings or large developments located throughout the country. While in the past institutional investors traditionally restricted their real estate investments to fixed return mort- gages and sale leasebacks, with changing economic conditions their philos- ophy also changed, resulting in the joint venture phenomenon. Some of the problems accompanying this change are the subject of this article.
    [Show full text]
  • Our Offer for Real Estate Entrepreneurs and Promoters Credit Suisse – the Bank for Entrepreneurs
    Our offer for real estate entrepreneurs and promoters Credit Suisse – the Bank for Entrepreneurs We will support you, as a real estate entrepreneur and as a private individual, in dealing with complex questions during the development of your real estate portfolio and promotions. Investment properties can provide a safe haven We can support you in the decision-making among different investment options. However, process by providing analysis and assisting with in contrast to various financial investments, transactions, as well as demonstrating the managing a real estate portfolio requires dealing implications of different courses of action. We with complex questions. Decisions, the wisdom appreciate that your decisions are relevant to of which can often only be judged in the distant you as an entrepreneur and a private individual. future, need to be made continuously. Our experts will advise you from both perspec- tives to find the optimal solutions. For you as a real estate entrepreneur Succession Purchase/sale and corpo rate structure advice + Real estat e Analysis/ research Inheritance Taxes Financia l For you as a planning private individual 2 Summary Example A real estate entrepreneur with two grown-up children starts thinking about the long-term future of his investment properties. The business is currently operated as a sole proprietorship. This means there are numerous questions and sce- narios to be discussed, such as whether there is the possibility of succession within the family? Selling individual properties? If yes, which ones? Which scenarios have which tax implications? Does the legal structure also fit in the long term? As the Bank for Entrepreneurs for entrepreneurs, we will support you in evaluat- ing and judging different scenarios not only from the perspective of a company, but also, that of a private individual.
    [Show full text]