The Real Estate Developer's Handbook: How to Set Up, Operate, and Manage a Financially Successful Real Estate Development [With CDROM]

by Tanya Logan

Book Overview

Are you the Next Donald Trump? Successful real estate developers can become enormously wealthy. However, the flip side is many developers run out of cash before cashing in. Poor cash flow is the... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1601380348
• ISBN13: 9781601380340
• Release Date: May 2007
• Publisher: Atlantic Publishing Company (FL)
• Length: 288 Pages
• Weight: 1.05 lbs.
• Dimensions: 0.7" x 5.7" x 9.4"

Customer Reviews

a must-have for anyone hoping to break into real estate development

With the proliferation and popularity of shows dedicated to real-estate pros and real estate development, there is an ever-growing audience of people wondering how to break into that same field. This book provides an outstanding overview of real estate development, and should be found on the desk of anyone even considering entering this field. This well-written treatise on real estate development explains all the necessary skills and possible pitfalls for a would-be developer, and helps explain the behind-the-scenes work that characterizes most successful real estate deals. Throughout the book, Davis stresses the need for drive, determination, and tenacity. She does not gloss over the possibility of disaster for those who are not prepared to dedicate the necessary time and attention to keep their projects moving forward, but she makes it clear that the rewards for that tenacity can be great. By presenting such an honest view of real estate development, Davis does a service to the industry by hopefully convincing some people that they should limit their involvement to real estate investment rather than development. I would highly recommend this book to anyone considering a new career in real estate development, and recommend they read it ready to honestly assess their ability to cope with the pitfalls of the industry. All-in-all, this book is a must-have for anyone interested in real estate development.

Practical guide for a complex subject

From a distance, Real Estate Development would seem to be a difficult industry to "break into" for those with few contacts or experience. The Real Estate Developers Handbook dispels these myths by providing an inside look at what it takes to get in and make money in the field. As an alternative to years spent working up through the ranks, the author's provide a fast track into the world of Real Estate Development by taking you through all the steps in the process: from locating land to working with government officials permitting to construction. Often the best advice is provided by those who have made mistakes along the way. Davis saves you money and time by identifying potential hazards and pitfalls in the industry. While the subject is complex, the material is broken down in a manner that is easily understood, even by those without an extensive background in the field. Upfront, the author discusses personality traits of successful Real Estate Developers and gives a description of actual job functions. The case studies scattered throughout give specific examples from experts in the field. Be warned, this is not a book for those with a passing interest in the field - it goes into great detail. Demographics, financials, due diligence and market trends don't make for an exciting beach read, but for those with a serious desire to enter into Real Estate Development, it leaves no stone unturned and is a fantastic "go to" guide.

Perfect for any collection catering to real estate professionals who would strike out on their own.

Successful real estate developers are usually rich; but for every success story there's the story of those who run out of cash and fail. So any collection catering to real estate developers or investors will relish The Real Estate Developer's Handbook, a practical guide to cash flow specific to the real estate industry. From establishing a small real estate development firm and understanding principles of cash flow as they relate specifically to real estate industry needs and changes to increasing success, an accompanying cd-rom enhances understanding and implementation of advanced real estate topics: perfect for any collection catering to real estate professionals who would strike out on their own.

A great comprehensive tool!

This book covers almost every facet of what being a real estate developer entails, from examining yourself to see if you possess the necessary characteristics of a developer to how to successfully operate your business once it's up and running. The book essentially serves as a step by step guide of how to get involved with real estate development (there are many ways, ranging from obvious choices like multi-unit buildings to more subtle opportunities such as developing warehouse distribution buildings). I found the sections on preparation particularly helpful to me. Though becoming involved with real estate development is obviously not an easy venture, I was surprised to learn just how much pre-preparation is required if success is to be achieved. The author did a phenomenal job of walking me through this preliminary process step by step, from the initial research phase to the creation of a top notch business plan (including how to project cash flow). I also really benefited from the section that lists many of the real estate development educational programs across the country. The author did a great job of compiling links for many schools in the United States (along with several international schools) that offer programs or training in the field of real estate development. I also thought that the sample worksheets designed to track and record startup costs and other financial information was helpful. My only complaint with the book (which is a very minor one compared to all of the useful information contained in the book) is that I wish there would have been a few more detailed ideas on how to actually produce the money to invest in your first development project. There were some ideas in a couple of chapters (such as using a bank or even money from a savings account), but I would have loved to see a chapter dedicated solely to how to specifically approach the initial money-raising phase of launching a successful career in real estate development.

Trying to figure out if this is a career you want? This will help.

Tanya Davis covers everything from basic business, to the nuts and bolts of running a real estate development. She gives you all the "have-to-do" items as well as all the things you should avoid or watch out for. (Loved the list of negotiation tactics that can get in the way! They apply to lots of conversations outside of business.) I liked the easy to navigate chapters and headings, and the glossary was excellent, but my favorite things about the book are all the checklists and examples that she gives. They really make you focus on each aspect of the deal: your personal skills, the business atmosphere you're operating in, and concrete details about the property you're considering. It's actually a bit intimidating. They do help you take a hard look at all aspects of your project, though, and that is important. Unfortunately, the checklists don't have a separate listing in the table of contents or index. They are set off in grey boxes, you can find them if you flip around, but it's kind of a pain if you are looking for a specific one and can't remember which section it's in. That's one reason I wouldn't buy this book just to dip into as a reference. I think it would be less effective that way, anyway. By reading it from beginning to end you walk through the process of starting a real estate development venture, without any of the risks of actually bidding on property. It allows you to get an overview of what needs to happen, as well as what the pitfalls are. Normally, I rate a how-to book based one whether it makes me feel like I could get the job done. This book definitely left me with the knowledge that this job is not for me. Not because the book couldn't explain it, but there were aspects of the job I'm just not suited for. So I initially figured I'd give it a 4. However, after thinking it over, I realized that when there is a lot of money at stake, I don't want a book that is going to make it seem to easy. That's how people get in over their heads. So this book gets a 5, because if you are thinking of getting into real estate development, it will help you decide if you have what it takes.