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

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

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

ISBN: 978-0-470-03731-7

Oct 2007

544 pages

In Stock

$125.00

Description

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.

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Preface.

Foreword.

Acknowledgments.

I BACKGROUND.

1 Characteristics of Real Estate.

2 Different Types of Business Organizations.

3 Negotiation.

II THE DEVELOPEMENT 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 EVOLUTION OF THE DEVELOPMENT PROCESS.

11 Joint Ventures.

12 Condominiums and Condominium Conversions.

IV CASH FORECASTS AND THE TIME VALUE OF MONEY.

13 How to Forecast Cash Needs During Construction.

14 Basic How-to-Do-It Time Value of Money Calculations.

APPENDIX A.

APPENDIX B.

APPENDIX C.

APPENDIX D Interest Tables.

APPENDIX E End-of-Chapter Answers to Questions.

Index.

  • Updated to provide current costs and funding methods
  • Additional learning features such as key term definitions, chapter summaries and review questions, and learning objectives have been added.
  • A complete reference section for additional information.
  • Complete coverage of construction funding can be found in no other source
  • Based on author's real-world experience buying and developing real estate properties for the past 25 years--over 5,000 apartments, 3million square feet.
  • Built on a case study of a 260-unit apartment development the book provides a step-by-step outline of the typical development process
  • Appendices contain loan forms, interest tables, and information on federal construction programs