Front Cover -- Private Real Estate Investment: Data Analysis and Decision Making -- Copyright Page -- CONTENTS -- Preface -- Acknowledgments -- Chapter 1. Why Location Matters: The Bid Rent Surface and Theory of Rent Determination -- Introduction -- The Model -- Is the Bid Rent Curve Linear? -- Empirical Verification -- An Economic Topographical Map -- Relaxing the Assumptions -- A Window to the Future -- References -- Chapter 2. Land Use Regulation -- Introduction -- The Idea of Utility -- The Model -- Optimization and Comparative Statics -- A Graphic Illustration -- Implications -- A Case Study in Aesthetic Regulation -- Conclusion -- References -- Appendix: Comparative Statics for Chapter 2 -- Chapter 3. The "Rules of Thumb": Threshold Performance Measures for Real Estate Investment -- Introduction -- The Gross Rent Multiplier (GRM) -- Capitalization Rate (CR) -- Cash-on-Cash Return (C/C) -- Price Per Unit (PPU) -- Other Data Issues -- References -- Chapter 4. Fundamental Real Estate Analysis -- Introduction -- Deterministic Variables of Discounted Cash Flow Analysis -- Single Year Relationships and Project Data -- Multi-Year Relationships -- Sale Variables Relationships -- The Net Present Value -- Insight into the Analysis -- An Illustration of Bargaining -- Another Growth Function -- Data Issues -- Conclusion -- References -- Chapter 5. Chance: Risk in General -- Introduction -- Games of Chance And Risk Bearing -- The Utility Function Revisited -- The "Certainty Equivalent" Approach -- Multiple (More than Two) outcomes -- The Continuous Normal Case -- Conclusion -- References -- Chapter 6. Uncertainty: Risk in Real Estate -- Introduction -- The Continuous Stable Case -- Enter Real Estate -- Determinism -- Determinism and House Prices -- Determinism and Real Estate Investment -- Risk and Uncertainty -- Rolling the Dice.

Real Estate-The "Have it Your Way" Game -- The Payoff -- Data Issues -- Conclusion -- References -- Chapter 7. The Tax Deferred Exchange -- Introduction -- The Base Case: Purchase-Hold-Sell -- Example 1-Modifying the Growth Projection -- Example 2-The Tax Deferred Exchange Strategy -- Example 3-Exchanging and The Plodder -- Data Issues -- Conclusion -- References -- Chapter 8. The Management Problem -- Introduction -- The Property Manager's Dilemma -- The Property Owner's Dilemma -- Reconciling the Two Problems -- Data Issues -- Conclusion -- References -- Appendix: A Caution On the Use of Data to Construct Theories -- Chapter 9. The Lender's Dilemma -- Appraisal Techniques -- Irrational Exuberance and the Madness of Crowds -- Bubble Theory-How High is Up? -- Data Issues -- Conclusion -- References -- Chapter 10. The Private Lender -- Introduction -- The "Hard Money" Loan Versus the "Purchase Money" Loan -- The Installment Sale -- The Buyer -- The Seller -- Is the Seller's Financing a Good Deal for the Buyer? -- Conclusion -- Reference -- Chapter 11. Creative Financing -- Introduction -- A Life Estate -- A Zero Coupon Bond -- The Retiree's Dilemma -- Intra-Family Alternatives -- The Remainderman's Position -- Conclusion -- References -- Index -- Color Plate Section.

Powerful new analytical tools for use with newly available private real estate data.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.