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Product Description
Product Description
Formulas that make the difference between making profits and losing equity
The only way to win the real estate investing game is by mastering the numbers. This revised and updated edition of the popular reference shows how to target the best investments in the present market. It answers all your real estate questions, and provides new discussions of capital accumulation and internal rate of return. This book’s basic formulas will help you measure critical aspects of real estate investments, including
- Discounted Cash Flow
- Net Present Value
- Capitalization Rate
- Cash-on-Cash Return
- Net Operating Income
- Internal Rate of Return
- Profitability Index
- Return on Equity
About the Author
Frank Gallinelli is founder and President of RealData‚ Inc, the real estate industry’s leading investment software firm. He is also Adjunct Assistant Professor for Columbia University’s Master of Science in Real Estate Development program.
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Before you delve into the basic calculations that underline all real estate investments, you need to address a very fundamental issue: You can't calculate anything and you can't make projections unless you have the raw data with which to start. Read the first page
Concordance
Front Cover | Copyright | Table of Contents | Excerpt | Back Cover
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Most helpful customer reviews
7 of 7 people found the following review helpful
5.0 out of 5 stars
Required Reading for Real Estate Investors,
By
This review is from: What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key FInancial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate (Paperback)
Before you invest $1 into income-producing real estate, be sure to pick up a copy of Frank Gallinelli's excellent book, What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key Financial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate. While the title may sound somewhat forbidding, the book is so well-written and accessible that even novice investors who wouldn't know a cap rate from a rate of return can quickly and easily master key concepts such as present value, gross scheduled income and discounted cash flow. Better yet, Gallinelli offers free spreadsheets that you can download from his site that do the numbers-crunching for you. I like to think that I'm a pretty savvy investor, but, thanks to Frank and his amazing formulas, I narrowly avoided overpaying for a five-story office building in the Chelsea section of Manhattan. While there's no guarantee that the seller will accept my lower offer, I feel confident that, if I do get the deal, I will be paying a fair price now that Frank has taught me how to do the math.
7 of 8 people found the following review helpful
5.0 out of 5 stars
The Definitive Guide,
By
This review is from: What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key FInancial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate (Paperback)
I recently decided to look into investing in residential real estate, but I didn't know enough about the financial risks and rewards to determine whether this would make sense for me. So I decided to give myself a quick education by reading the best books I could find on the subject. I had to wade through a lot of get-rich-quick-without-any-money books to find the good ones, but I wound up with ten books that looked like they had good, solid information for would-be investors. After working my way through all ten books, I can tell you without reservation that Gallinelli's book is head and shoulders above the rest. There was something to be learned from each them, of course, but the others tended to get a bit fuzzy about the financial details, often substituting simplistic rules of thumb for real analysis or doing a hand wave just about the time I needed hard information. Worse, there was a disturbing lack of consistency among the books where they did provide financial details, and there was no obvious way to sort out which book had the right take on a particular calculation or financial ratio. And it seems to me that, important as general principles may be, if the financials don't work then nothing else matters very much. Fortunately, Gallinelli took me right down into the nitty gritty stuff and showed me, step by step, just how the whole business works. He was also the only author to even consider the possibility that I, as a modern-day investor, might have the ability to run these calculations in a spreadsheet, and he provides clear instructions for entering the required formulas in Excel. Not that you have to be an Excel user to benefit from this book; the financial analyses he describes are absolutely essential to knowing what you're getting into, and you need to run them whether you do it on a calculator, use packaged financial analysis software, or build your own spreadshet. But for those who do know how to use Excel, it's a tremendous benefit to have the step-by-step instructions right there. After reading this book, I now understand how to figure out the total return on a residential property from all it's sources, including operating income, depreciation writeoffs, equity accrual, appreciation, and capital gains benefits, and I know how to calculate the effect of leverage on each of these sources. Better still, based on the formulas Gallinelli provides, I can quickly see how these sources play off against each other to predict my total return on investment in any particular scenario. More than any other book I read, this one prepared me to analyze a candidate property and evaluate its potential return, allowing me to determine whether it's a good investment and, if so, under what price and financing conditions. Based on what I've learned, I'm now shopping for apartment buildings to make my first acquisition. Of the ten books I purchased, nine now sit on my shelf within easy reach. But this one sits right next to me and will always be close at hand. If you are thinking about investing in real estate, buy this book and read it before you do anything else. It's that good.
3 of 3 people found the following review helpful
4.0 out of 5 stars
Good Reference Book,
By
This review is from: What Every Real Estate Investor Needs to Know About Cash Flow...And 36 Other Key FInancial Measures: Guidelines, Formulas, and Rules of Thumb for Making Money in Real Estate (Paperback)
A no nonsense book. This book doesn't make a single promise about helping readers retire with millions. It does however help the common investor get there by providing the reader with all the necessary calculations for differing investment scenrios. If you're a get rich quick type of person, this book is not for you. However, if you're one who appreciate that it takes hard work to earn a fortune and would like to know how to understand, apply, and be smarter with differing cash flow analysis, this would make a great book. Though divided into chapters, one need not go through each one by one. The book is fairly small and probably best used as a quick reference guide.
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