Construction Funding: The Process of Real Estate Development, Appraisal, and Finance 3rd Edition
Author(s): Nathan S. Collier (Author), Courtland A. Collier (Author), Don A. Halperin (Author)
Publisher: Wiley
Publication Date: December 24, 2001
Edition: 3rd
Language: English
Print length: 384 pages
ISBN-10: 0471394661
ISBN-13: 9780471394662
Book Description
This updated classic is unrivaled in its complete, single-volume coverage of financing real estate development
This thoroughly revised Third Edition of Construction Funding provides professional and student readers alike with the critical tools needed for developing any successful real estate venture. Using a case example of a 260-unit apartment development, the authors walk the reader through each project phase, offering invaluable guidance on raising capital, selecting markets, rating sites, securing insurance, creating joint ventures, understanding loan options, and mastering cash flow management.
Beginning with an overview of todays real estate industry, Construction Funding acquaints readers with various types of business organizations in real estate, including the advantages and disadvantages of each. An entire chapter in this first section is devoted to the most critical tool of them all: negotiation. The second section of the book provides a step-by-step outline of the typical development process from start to finish. Included in this section are guidelines for:
Creating a pro forma that will make projects profitable, not a loss
Understanding the appraisalthe key to financing real estate
Navigating a loan application
Correctly completing all required documents to close a construction loan
Writing a commitment letter that can seal a $15 million deal
The final, third section addresses the mathematical and technical tools of construction, including chapters on forecasting cash flow needs, calculating the time value of money, and funding and feasibility problems. Also provided are appendices containing loan forms, interest rate tables, and valuable information on federal construction programs.
Written by a team of authors with broad experience in the construction and real estate industries, Construction Funding is the book to guide undergraduate and graduate students in construction programs, as well as an invaluable reference for professional developers, planners, and contractors.
Editorial Reviews
Review
“The third edition of Construction Funding by Nathan S. Collier et al is a remarkable demonstration of insight and expertise. Collier and colleagues provide an exceptionally lucid description and analysis of the process of real estate development that is accessible to non-experts while being authoritative at the same time. In addition to being an excellent text for students and others interested in careers in real estate development, this book serves as essential background for all those whose responsibilities include any part of the development process.” (John V. Lombardi President, University of Florida (1990-1999)
From the Back Cover
This updated classic is unrivaled in its complete, single-volume coverage of financing real estate development
This thoroughly revised Third Edition of Construction Funding provides professional and student readers alike with the critical tools needed for developing any successful real estate venture. Using a case example of a 260-unit apartment development, the authors walk the reader through each project phase, offering invaluable guidance on raising capital, selecting markets, rating sites, securing insurance, creating joint ventures, understanding loan options, and mastering cash flow management.
Beginning with an overview of todays real estate industry, Construction Funding acquaints readers with various types of business organizations in real estate, including the advantages and disadvantages of each. An entire chapter in this first section is devoted to the most critical tool of them all: negotiation. The second section of the book provides a step-by-step outline of the typical development process from start to finish. Included in this section are guidelines for:
Creating a pro forma that will make projects profitable, not a loss
Understanding the appraisalthe key to financing real estate
Navigating a loan application
Correctly completing all required documents to close a construction loan
Writing a commitment letter that can seal a $15 million deal
The final, third section addresses the mathematical and technical tools of construction, including chapters on forecasting cash flow needs, calculating the time value of money, and funding and feasibility problems. Also provided are appendices containing loan forms, interest rate tables, and valuable information on federal construction programs.
Written by a team of authors with broad experience in the construction and real estate industries, Construction Funding is the book to guide undergraduate and graduate students in construction programs, as well as an invaluable reference for professional developers, planners, and contractors.
About the Author
NATHAN S. COLLIER is the founder and owner of Paradigm Properties, a property management and development firm, and is a member of the Board of Directors of the National Multihousing Council, the National Association of Real Estate Investment Trusts, and the Urban Land Institute. In addition, he is a registered real estate broker, a licensed building contractor, a certified public accountant, and a licensed attorney. He may be reached at ncollier@opm25.hbs.edu. COURTLAND A. COLLIER, PE, is Associate Professor Emeritus, Civil Engineering, at the University of Florida. DON A. HALPERIN, FAIG, is Director Emeritus, School of Building Construction, at the University of Florida.
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