Working At Pennymac Commercial Real Estate Finance

Working At Pennymac Commercial Real Estate Finance
I'm currently working at PennyMac Commercial Real Estate Finance (PCREF) in Irvine, CA as Sr.
Loan Closer/Processor for the past eight months. Previous to this position I worked at Opus Bank as
a Sr. Loan closer/Processor in structured finance for 3 years until I was laid off. I have over 25 years
in the real estate finance industry. Ranging from loan administrator, underwriting, loan officer, and
property management.
PCREF is a newly developed department to PennyMac Loan Serving since November 2014.
PennyMac Loan Servicing is a mortgage loan servicer to a Real Estate Investment Trust with over
$13 billion in mortgage assets. PennyMac purchased large bulk loans from banks during the housing
melt–down. When they made these purchases they discovered that all the loans were not in
foreclosure so they decided to set–up their own servicing system to helping people with their loan
payments by refinancing loans or restructuring loan payments. They were able to salvage their real
estate portfolio and become one of the largest loan servicers in the market today.
PCREF became an approved to be a seller/servicers to FreddieMac in January 2016 for small
balance real estate loans. Small Balance Real Estate loans are apartment loans ranging from $1–
5million to be financed. We are the sixth company offering the FreddieMac program in Southern
California making it a great opportunity for growth, development, resources, and exposure to the
commercial real estate markets with its low rates
... Get more on HelpWriting.net ...

Case Study : Company And Its Products
Company and its products AvalonBay Communities, Inc. is an equity Real Estate Investment Trust
(REIT) a trusted name in multifamily housing that focuses on the development, redevelopment,
acquisition, ownership and operation of multifamily communities. It is one of the largest developers
of multifamily rental apartment communities in the high barrier–to–entry markets of the United
States. Among the products and services, it offers include property development and redevelopment,
property investment, and asset management. AvalonBay owns or holds an interest in approximately
285 operating apartment communities containing over 86,696 apartment homes in 10 states and the
District of Columbia. AvalonBay operates through three business segments; established
communities, other stabilized communities, and development/redevelopment communities.
AvalonBay Communities are high–quality and diverse in product type, including garden–style
apartment communities of multi–story buildings in landscaped settings, townhome as well as mid–
rise and high–rise apartments in urban and suburban settings. The communities offer a range of
amenities and features, which include equipped kitchens; lofts and vaulted ceilings; walk–in closets;
fireplace; patio/decks; modern appliances; swimming pools; fitness centers; tennis courts; and
wireless lounges. The company operates its apartment communities under three core brands: Avalon,
AVA, and Eaves by Avalon (AvalonBay Communities Inc (AVB) Company

Notes On Real Estate Investment Trust
Real estate investment trust
4.1 Research on REITs
Real estate can be divided into two types: direct and indirect real estate investment. Direct real
estate investment means investors directly buy and sell property. REIT is an indirect way of real
estate investment. REITs is a type of security, it means investors buy shares of a real estate portfolio
managed by professional fund manager.
Publicly traded REITs and non– traded REITs
Many REITs are registered with the SEC( U.S. Securities and Exchange Commission) and are
publicly traded on a stock exchange. These are publicly traded REITs. Others may be registered with
the SEC but are not publicly traded. These are non– traded REITs (also known as non–exchange
traded REITs).
Publicly traded REITs
Publicly traded REITs (also called exchange–traded REITs) have their securities registered with the
SEC, file regular reports with the SEC and their securities are listed for trading on an exchange such
as the NYSE or NASDAQ. As with any stock listed on an exchange, you can buy and sell the stock
of a publicly traded REIT with relative ease. An investment in publicly traded REITs is liquid. .
Non– traded REITs:
The securities of Non– traded REITs resisted with SEC but not public traded. It is illiquid and
cannot be sold on open market. Non–traded REITs do not provide an estimate of their value until 18
months after offering closes. Investors may be attracted by high dividend yields compared to
publicly traded REITs.

An International Real Estate Investment Trust Organization
Rayonier Inc. is an international real estate investment trust organization that is committed to
creating value and excellence in their core business of forest resources and real estate. Rayonier Inc.
was found in 1926 and began its operations in Washington State and currently their headquarters are
located in Jacksonville, Florida. Rayonier Inc. uses its forest resources to sell timber to a variety of
markets, including pulp, paper, building products and energy products in the U.S and New Zealand.
Rayonier Inc. is environmentally certified under the Sustainable Forestry initiative program in their
U.S forestry and wood obtaining practices. Furthermore, Rayonier's real estate business is to
develop strategies on how to transition their ... Show more content on Helpwriting.net ...
This is very important information because it gives the investor an idea to what is going on in the
business. It is the auditors responsibly to ensure that all the information that is provided in the 8k
and 10k is accurate so that the investors would not base their decisions on false facts. Using the
Pareto Law, audits are usually performed on the most important accounts found on the income
statements and balance sheet. The auditor's main priority is to make sure that all the data that is
found on the financial statements have not been over or under stated for the benefit of the company.
In many cases, investors have been lead to believe that a company is doing well by either
overstating the assets or understating their debt. As a result, this will lead to investor to have losses
instead of gains.
1. In order to be able to emit an unqualified opinion in an audit, one should take the financial
statements into account. Let's first take a look at Rayonier income statements for the past three
years. In referencing the income statement an auditor can conclude that one of the most important
accounts on the income statement is the sales account. In looking at the sales account of Rayonier
Inc. we can see

The Real Estate Investment Trust
Once known as a real estate investment trust (EIT) DMG became managed by two brothers Steven
and Mitchell Rales in 1983. Named "after a favorite fly–fishing locale in Western Montana" , the
Rales brothers changed the publicly traded name to Danaher. Steven and Mitchell Rales originally
from Bethesda, Maryland used their own finances and borrowed millions to get Danaher afloat. The
Rales brothers were not new to such ventures. They previously invested in several businesses
including, Master Shield Inc., Equity Group Holdings, and Mohawk Rubber Company of Hudson,
Ohio. Within two years of Danaher's launch, Steven and Mitchell Rales purchased twelve more
companies. Danaher's Corporation went from not having a profit posted since 1975 to being listed as
a Fortune 500 company three years after its establishment. In February 1990, Danaher Corporation
designated George M. Sherman as the new president and chief executive officer. Coming from
Black & Decker Corporation, Sherman was an enthusiastic and passionate CEO. Sherman "hoped to
add strategic planning with a market–driven emphasis to enhance the admirable position of
Danaher's companies, [just as well as] reposition the portfolio towards more attractive, and less
cyclical businesses" . Danaher's portfolio is composed of five strategic business segments: Dental,
Life Sciences & Diagnostics, Environmental, Test & Measurement, and Industrial Technologies.
These five platforms represents over 80% of Danaher's total

Simon's Hostile Tender for Taubman
Introduction:
The Taubman Company is one of the preeminent retail developers/owners/managers in the United
States and its properties among the most productive in the nation.
Simon is the largest shopping center owner and manager in the country and was interested in
Taubman because Taubman, a much smaller company, has among the most unique, profitable and
high–quality shopping centers in the country. It was much easier to buy a shopping center company
than to develop shopping centers from the ground up, which is really why Simon was interested in
Taubman. Thus, Simon Property Group launched a hostile tender offer for Taubman Centers.
This was a hostile bid because Taubman was not for sale and, therefore, a negotiated transaction was
... Show more content on Helpwriting.net ...
To overcome with this problem, Umbrella Partnership REIT (UPREIT) was invented in December
of 1992 by the Taubman Realty Group. The UPREIT is a concept that allows a real estate owner to
go public without making a taxable real estate exchange.
As per the textbook and realestateportfolio.com web site, A UPREIT works as follows: A REIT
forms a partnership in which property owners contribute real estate assets in exchange for
partnership interests, which are called operating partnership units or OP units. The former property
owners can exchange their partnership units on a one–for–one basis for REIT shares or cash, at the
REIT 's option. Since there is no fundamental change in ownership, there is no taxable event until
the property owner actually receives REIT shares or cash. A transaction that exchanges real property
for stock would be a taxable event. The UPREIT helped by permitting property owners to defer
taxes until partnership units are converted to stock or cash.
The advantage is this structure provides a viable exit strategy to commercial property owners who
otherwise might have significant capital gain tax liabilities on the sale of appreciated property. In
addition, the investor benefits from additional diversification because they have an interest in a
portfolio of commercial properties instead of just one property. This structure is not appropriate for
every investor as they must have property that the REIT wants to add to their

The Amb Consolidation Case Essay
Introduction
The report presents a case about AMB, which is a leading pension real estate advisory firm that has
recently proposed to turn itself into a publicly traded Real Estate Investment Trust (REITs) and is
planning to persuade its client to contribute their real estate assets to create a new REIT.
Furthermore, the report also includes considerations of Anne Shea, who is the Assistant Vice
President at Curator's Fund; which is considering exchanging her shares in the commingled fund for
the shares in the REIT.
Real Estate Investment Trust (REITs)
Real Estate Investment Trust (REITs) invests in and own properties by offering investors a highly
liquid method of investing in high–density markets. Most REITs earn their revenue from ... Show
more content on Helpwriting.net ...
b) Increased statutory compliance: Public securities are required to comply with increased laws and
regulations of the stock exchange and any other governing body; whereas, in private securities the
organization is required to comply with minimum statutory requirements.
c) Disclosure of competitive information: Public securities are susceptible to disclose increased
information that can be used by competitors.
Importance of REITs in Pension Fund
REITs plays a very important role in pension funds because it offers both income and upside.
Further, it also provides an opportunity for pension funds to increase both liquidity and returns, and
decrease volatility that will attract them so as to boost their investments in REITs.
An analysis of REIT's nature and an evaluation of REIT as "Growth Stock" or "Value Stock"
REITs are securities that invest its major funds in real estate to produce income and distribute its
majority of returns to their shareholders. Many individuals are interested in investing in stocks
whereas some are interested in investing in real estate. REITs provide a combination of both by the
individuals that are investing in securities and later on the trust will be investing in real estate.
(Pagliari, 2005, 158)
Growth investors believe that the securities are above average earnings growth on the other hand,
value stocks believe that the stocks are undervalued due to fallen out of favor in market place.
Although, REIT invests

Tips For Launching Your Real Estate Investing Career
Eight Tips For Launching Your Real Estate Investing Career Eight Tips for Getting Started in Real
Estate Investing
Introduction
3. Learning What To Do
4. Attending a Real Estate Investing Seminar
5. The Billings Montana Market
6. Finding a Mentor
7. Your Real Estate Team
8. Just Do IT
And last your own page about what you want to achieve using words like I will and only positive
words.
For long term goals you don 't need to be as specific right now, but you should list them and under
them list a few steps or smaller goals that need to be achieved before you are able to achieve them.
With the long term goals always think big. Another good exercise for long term goals is to make a
collage of you goals. Put pictures of the house you want on it, places you want to travel, a picture of
your family, a number of what income you want in or anything you can think of.
3. Learn
Knowledge builds confidence and destroys fear. If you are starting any kind of business you need to
learn the ins and outs of that business. The best way I have found to learn about real estate investing
is to read all about it. But once you know it you have to apply what you have learned. Learning and
reading is just one step to take. There are thousands of books on the market about real estate
investing and everyone has something you can learn from. You don 't just want to read real estate
investing books though. You also want to fill yourself with motivational and leadership books.
Every

Case Study On REIT
REAL ESTATE INVESTMENT TRUSTS A Real Estate Investment Trust ("REIT") is a trust that
uses pooled capital of investors to purchase and manage income property ("Equity REIT") and/or
mortgage loans ("Mortgage REIT"). REITs offer several advantages to people who do not have
sufficient money to invest in real estate but desire to own property. Other than Unit
Holders/Investors, the other primary players in REITs constitute the Trustee, Sponsors, Managers
and Principal Valuer. The Securities and Exchange Board of India ("SEBI") has vide a notification
dated September 26, 2014 notified the SEBI (Real Estate Investment Trusts) Regulations, 2014
("SEBI REITs Regulations") towards regulating investments in REITS. The SEBI REITs
Regulations, inter alia, ... Show more content on Helpwriting.net ...
The minimum IPO asset size of REITs is prescribed as being INR 500 Crore and the minimum offer
size is prescribed as INR 250 Crore. A minimum of 200 subscribers are required to form a REIT
(excluding related parties) and the minimum public share in an initial offer should not be less than
25% of the number of units of the REIT on post issue basis. The procedure for delisting of REITs
has also been provided under the SEBI Regulations. REIT Investments: At least 80% of the value of
REITs Assets is required to be invested in completed and rent generating properties. Specific
conditions are prescribed for investing the balance funds in other assets. Further, REITs are required
to invest in at least two projects and investment in any one project should not exceed 60% of the
value of assets owned by the REIT. REITs are permitted to invest only in the assets situated in India.
Lastly, a specific list of inclusions (like TDRs, land and any permanently attached improvements to
it (whether leasehold or freehold) etc) and exclusions (like Hospitals, Hotels and convention centres
with specified conditions, agricultural land, mortgages, units other REITS, etc.) have been provided
under the SEBI REITs

Building A Real Estate Investor
Real estate Investor
When I get out of high school I aspire to become a real estate investor because it pays well I like
being able to turn something old into something new.
Introduction
Glass doors, hardwood floors, mosaic backsplashes, marble countertops and so much more. Flipping
something old and upgrading it can be so rewarding financially. If you 've ever thought about
remodeling old homes then real estate investing is the job for you.
The following topics that I will address in the coming weeks will be educational requirements, a day
in the life, job market information, and advantages and disadvantages of this career.
Educational Requirements
The educational requirements recommended are to get a degree in finance or ... Show more content
on Helpwriting.net ...
Real estate agents spend a lot of time interacting with people. Anyone they meet can be a potential
client. There is a multitude of tasks that need to be done on a daily basis so the day to schedule can
vary.
Daily schedule sample
Meet with contractor to review work on rehab
Go to title company to settle a property They sold
Singed another set of settlement documents at the same title company for a settlement next week
They go to bank to get certified check
Went to pick up deed that the check was for
Then they drive around community 's or suburbs looking for possible homes to invest their in
Completing submitting and filling real estate documents agreements and lease records
Coordinating appointments showings open houses and meetings
Maintaining and managing client database
Responding to emails and phone calls
Then updating websites and social media profiles
Potential leads

Most important in real estate is finding potential buyers buyers/sellers without clients buying or
selling there would be no commissions one way to build contacts is to genarate a data base of people
you may already know like your friends family neighbors etc most people at one time or another
will either buy or sell a home
Meeting preparation
Since many realtors are involved in flipping homes aside from selling them a great deal of
organization skills are nessary part of the job includes working at an actual work site making sure
contractors

Dividend Policy and Firm Performance: Hotel Reits vs....
Dividend Policy and Firm Performance: Hotel REITs vs. Non–REIT Hotel Companies
Executive Summary. This article investigates whether the greater reliance of real estate investment
trusts (REITs) relative to non–REIT corporations on external equity financing suggests greater
capital market discipline of REIT management, or greater access to capital, overpaying for assets,
overbuilding and overinvestment. Our analysis is based on a sample of sixteen hotel REITs and
fifty–one non–REIT hotel corporations from 1993 to 1999. We examine differences in performance
and whether free cash flow can explain the differences. The findings suggest that hotel REITs retain
a significantly smaller amount of free cash flow than non–REIT hotel companies. Market ... Show
more content on Helpwriting.net ...
Moreover, Nobel and Tarhan (1998) demonstrate improved operating performance for over–
investing firms making larger distribution of cash to stockholders. These findings may also be
applicable to REITs and the hotel industry. Of particular interest is whether the dividend policy of
REITs, together with their more limited free cash flow, mitigate any tendency toward
overinvestment in the hotel industry. The interesting empirical questions, therefore, are the
following: Do economies of scales justify the rapid growth of REITs or do REITs suffer from
overinvestment? Is firm performance related to size and/or organizational form? These questions are
addressed by examining the performance of hotel companies, REITs and non–REITs. The hotel
industry provides a direct test of Jensen's (1986) free cash flow hypothesis. Given the requirement
that REITs distribute 95% of taxable income to shareholders, we would expect them to be less likely
to suffer from agency problems associated with free cash flow. In particular, the capital market
should
80 Vol. 7, No. 1, 2001
serve to managers.
discipline
''empire–building''
REIT
The analysis presented in this study is based on a sample of sixteen hotel REITs and fifty–one
nonREIT corporations from 1993 to 1999. This period includes both the REIT boom of the mid–
1990s and the REIT ''bust'' of the late 1990s. Non–REIT corporations that invest in hotels and
motels serve as our control group. In this study, we examine whether the

Commercial Real Estate Essay examples
Commercial real estate is any property other than a single family home or a residential lot in a
neighborhood. The commercial real estate market is handled very similarly industrial and residential
real estate markets. The commercial real estate market goes through ups and downs just like any
other investment market however investments into commercial real estate can be a very wise
decision.
Commercial real estate is similar to industrial and residential real estate in that when you buy it you
are buying a building or land. What separates these three types of real estates is how they are zoned
and what they are used for. Since these three real estates are so similar the question can be asked,
"What exactly is commercial real estate?" In a ... Show more content on Helpwriting.net ...
For a company to qualify as a REIT with the IRS, a real estate company must pay out dividends
equaling 90% or more of their taxable profit. By being considered a REIT, a company avoids
corporate income tax. A regular corporation makes profit and then pays taxes on the entire profit.
Then they decide how to distribute their after–tax profit between dividends and reinvestment; a
REIT simply allocates all or almost all of its profit and skips taxation. As well as buying buildings
and REITs investors can acquire plots of land as commercial real estate as well. Purchasing real
estate as a company or as a personal investment can be extremely confusing even for experts as it is
a venture with risk, as buyers, sellers, agents, and renters alike can suffer the consequences of a dip
or spike in demand. Thus, it is important that you enlist the help of a group of experts that help
determine the right time to buy or sell, the right locations to consider, and the specifics of closing
the deal. This group can include accountants that help determine what your business can afford,
Lawyers to help with legal documents and transactions, mortgage brokers to help with financing
options, and commercial brokers to help identify potential properties.
With all of the risk that is involved with commercial real estate many times the

Impact Of The New Revenue Recognition Standard
Impact of the New Revenue Recognition Standard
Internship Course
Caleb Cartledge
4/11/15
Change is on the horizon and many companies are scrambling trying to figure out how the New
Revenue Recognition Standard will impact the way that they conduct business. The prospect of
bracing for a game–changing revenue recognition standard at a larger global firm is a daunting task.
GE Technical Controller Russell Hodge, CPA, commented about this stating, "I'll admit to it being a
little bit overwhelming to us. We have $150 billion of revenue and so many diverse, different
business models. It's a tough question. It's a tough thing to think about."
(http://journalofaccountancy.com/Issues/2014/Mar/revenue–recognition–20149444.htm) With
experienced well–known firms such as GE being concerned, it shows that even the most
experienced companies are concerned with how the new standards will fundamentally change the
way that they conduct business. The main purpose of this essay is to explore how the new revenue
recognition standard will effect different industries when it comes to fruition in 2017. The secondary
purpose of this essay is to discuss ways that these different companies can mitigate risk by
effectively preparing for these changes by using preventative controls.
For readers who are unfamiliar with the topics discussed above, The Financial Accounting Standards
Board recently issued a new set of standards governing revenue recognition. The new standards will
take effect on

Case Study Of Smhad And UMW Berhad
MEMO
To: ABTRAC.INC
From: ALIBABA FA.INC
Re: Possible Acquisition
This memo provides overview of potential target companies and an evaluation of their further
prospects for acquisition purpose. ABTRAC.INC a MNC from Amsterdam intends to strengthen its
position at Malaysia by Merger &Acquisition. We have identified 2 companies, Sunway Berhad and
UMW Berhad as potential acquisition based on their financial performance and strong market
footprint.
Company Profile
Sunway Berhad
Sunway Berhad established in 1974 as tin–mining company Sunway group becomes Malaysia's
most successful real Estate and hospitality group. The Sunway group has 12 business divisions
namely Property, Construction, Hospitality, Retail, Leisure, Commercial, Trading & Manufacturing,
... Show more content on Helpwriting.net ...
UMW Berhad
Over the year UMW Berhad shows good annual increasing trend on revenue and profitability.
However in year 2013 lower contribution in earning by its automotive manufacturing operations in
India were affected by slowdown in Indian automotive industry. The company posted revenue
increase by 17% and 6% respectively in 2012 and 2011. YEAR 2013 2012 2011 2010
REVENUE 13,951,460 15,816,888 13,535,753 12,820,229
Future Prospects
Sunway Berhad
In year 2013 Sunway Construction was awarded plenty of projects that would help boost company
profit for next couple of years. Among the prominent project are:
North East Car Park (NEC) underneath KLCC Park by Citi tower worth RM304 mil
Substructure work at KLCC worth EM222mil
Afiniti Medini by Khazanah worth RM282.9 million
In addition to this, the company also involving in government project such as Elevated Bus Rapid
Transit BRT, New MRT project, Kelana Jaya LRT line extension and UTIM campus extension.
Company also will be eyeing MRT Project Putrajaya line recently announced by PM.
UMW

Case Study: Rocbas Rookstool Real Estate Interview
RocBas Rookstool Real Estate Interview
Rocco Basile is a photography expert and a renowned ideolog of fine photography. His expertise has
traversed various genres of photography, from Portrait photography and fine art photography to
photojournalism. Rocco is the founder of the Rocco Basile Photography studio and gallery that is
located in Santa Barbara, Southern California. This is the locale where Basile and other seasoned
and budding photographers exhibit their work to the world. Outside the confines of his studio,
Basile periodically accepts freelance photography assignments, which have taken him to some of the
most idyllic shooting locales in the world such as Tibet, China and Okinawa, Japan. The California
based photographer spent most ... Show more content on Helpwriting.net ...
Property sellers specifically need to create an environment that will attract buyers. A simple strategy
is to have the property cleaned and painted if possible.
What have you found out to be the best way to market property?
There area plenty of strategies out there, but I would recommend getting the right real estate agent
by your side because they understand all the intricacies of the market. The other compelling
strategies include making your self accessible and exploiting the internet to your advantage.
What has real estate taught you about life?
Thankfully, I have been lucky to meet many new people, some of whom have turned out to be my
biggest clients. The industry has also taught me the importance of following every market lead and
setting realistic expectations.
How can you use what you have learned in real estate to succeed in other areas?
There are many skills exuded by professionals in the real estate sector that can be replicated
elsewhere. For example, most successful real estate agents posses entrepreneurial spirit, high
likability, professional appearance and good communication and time management skills.
Do you have a mentor who taught you what you

Real Estate Investment Trust Case Study
The property values in some parts of the local market appear to have finally got back to an upward
trend. Although current prices are still significantly behind levels seen in 2006/2007 there has been
considerable growth in some parts of the country. The largest area of growth is in Dublin. According
to CSO figures for 2013 residential property prices in the Dublin, region increased by circa 15.7% in
2013 compared to 2012. However, property prices are still 49.1% below their highest level in
February 2007. Property investment incentives There have been a number of initiatives introduced
by the Government to try and stimulate investment in the property market. One of the most
significant initiatives is the introduction of the Real Estate ... Show more content on Helpwriting.net
...
For many people, the property is seen as such an investment. According to the 2013 "Daft.ie Rental
Report" gross property yields on average across Ireland are 6%. In Dublin, the yields range from
5.2% in South County Dublin to 8.1% in Dublin City Centre. Rent levels continue to grow year on
year. Access to the property is still quite difficult due to lack of property supply in desirable areas
and a lack of access to finance. Of course, it is impossible to predict how the market will fare in the
coming years and so, as with any investment, there is a risk of the yield on investment reducing.
Using your pension to buy property Individuals considering whether to invest in the property market
might consider using their pension funds to purchase the property. One of the main benefits of using
a pension fund to purchase property is that you can use monies which have not been subject to
income tax to purchase the property. Property purchased outside a pension fund is purchased from
post income tax proceeds or else purchased using borrowings that must be repaid using post tax
income. Given the current marginal rates of tax, up to a maximum of 55%, it is clear that significant
savings can be made by using your pension fund to invest in property rather than investing through
after tax income. Of course, not all individuals have control of where their pensions are invested, but

Business And Tax Strategies With The Right Accountant
Finding the Right Accountant Curating Your Business and Tax Strategies with the Right Accountant
Choosing the right accountant can seriously impact your taxes, ability to build wealth and your
lifestyle. Creative accounting can offer you and your family a better life, provide for retirement and
shelter income so that you can earn more money with pretax income. Choosing an accountant is
critical for getting the maximum return from your business and investments. Choosing an
accountant often results in getting an expert in one area of investments or business management
while sacrificing the advice of an independent advisor who consults with you closely, takes your
goals into account and helps you to choose between business and tax ... Show more content on
Helpwriting.net ...
These types of accountants often have distinct viewpoints that favor certain types of investments,
and they often receive commissions on sales, so small investors don 't get unbiased, balanced
advice. Even independent accountants often have agendas or market interests or insufficiently
broad–based business and tax skills. The types of accountants include: Public accountants Money
managers Tax professionals Financial advisors Special accounting consultants Auditors Forensic
accountants Registered agents and specialized accountants often have conflicting interests ––
especially when they represent both the buyers and sellers in transactions. When choosing an
accountant for your business or planning tax strategy, it 's important to find an accountant who has
the skills, impartiality and commitment to satisfying your personal financial objectives. Curating
Your Financial Strategy It 's critical to choose an accountant who will work with you to curate a
unique plan to achieve your business and personal goals. Developing a financial plan helps to set the
stage for future events, saves money by reducing taxes and provides protection from unexpected
events. You can 't really expect an advisor or accountant with an agenda to look out for your
concerns and develop a customized financial plan to reach your targets. Level of Service
Accountants don 't fit any generic mold, so it 's up to you to qualify prospective

Tips For Commercial Real Estate Investment Essay
Tips For Commercial Real Estate Investment
By Prisca Ifeyinwa Ezeilo | Submitted On September 04, 2012
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Commercial Real Estate Investment involves buying commercial properties that are bigger than a 4
unit apartment building. It is that real estate investment in which an estate is rented out or sold to
make profit through rental income, interests, dividends, royalties, etc. but not for primary residence.
It is better for the investors who are beginners in the field to avoid commercial real estate
investment strategy. On the other hand, experience investor can go for for this kind of investment as
the competition is much less. It is also the best choice asset class for building wealth, you may ask
why? This is because there is a limited supply of land; no more land is being created! If you select a
real estate with a land component in an area of increasing population and demand, the laws of
supply and demand will work in your favour to increase the value of your investment. It provides
better leverage than any other asset investment, with the ability to typically borrow at least 80% of
the purchase price on house and land packages. 100%

Investing Inside A Qualified Retirement Plan
There was a time not so long ago that investing was simple––Stocks, bonds and mutual funds, notes,
and annuities––that was it. Today, investors enjoy access to the same types as investments as in
times past with Real estate, Real Estate Investment Trust 's (REIT 's), Derivatives, Hedge funds,
Currencies and so many more thrown into the mix. Here we will consider Real estate investing, the
different types of real estate to consider and why one serves the investor over another as it relates to
investing inside a qualified retirement plan. Unlike so many other investments, real estate is unique
because it can be leveraged. Banks will lend upwards to 60% percent of the properties value with
non–recourse funds inside retirement plans. Only plans that have a certain income through annual
contributions or large cash flows from wholly owned properties should leverage, especially on
commercial or industrial assets. Generally, there are 3 types of investments: Land,
Commercial/Industrial and Residential. Land is a complex investment that requires a certain level of
expertise, which many investors do not possess, but can provide explosive returns. Investing in land
can require years of negative cash flows before any appreciable gain is realized. As land is
considered, two important rules of land investing comes to mind: 1) The profit made in virtually any
land deal is made the day of purchase, which is to say always buy lower than market; 2) For
everyday a land asset is held in

The For Real Estate Investment Trust
In the Finance Act, 2014, the Government of India granted various tax exemptions to such REITs,
showing a clear intention of making these entities a notified one, even before SEBI regulations were
notified. It granted a status of tax pass–through entity to these trust. This was also reflected in The
Union Budget of 2014 to make REITs tax–efficient for domestic and foreign investors. The tax
pass–through status refers to the fact that the returns from investments made in these investment
vehicles, will only be taxed in the hands of investors, and the REITs will not have to pay any taxes
on incomes. For the first time clear cut provisions have been mentioned in the Finance Act to
provide for complete new taxation regime for Real Estate ... Show more content on Helpwriting.net
...
Henceforth, the Finance No. (2) Act, 2014 has altered the Income tax Act to set up a particular
taxing administration for giving the way the income in the hands of such trusts is to be saddled and
the taxability of the wage appropriated by such business confides in the hands of the unit holders of
such trusts. (iii) A return of income has to be furnished by the business trust. (iv) There are various
forms that has to be filed and other compliances that are to be met with for the proper
implementation of the said scheme. It is expected that in due course the Government will come up to
describe reporting requirement and other details etc.
Tax implications on various parties involved in a REIT–transaction:
For Business Trust:
The SEBI regulations allow the holding of properties by REITs via two methods– by themselves or
through SPVs, where the REIT will have a controlling interest of at least 51% by way of holding the
share capital of the said SPV. Thus, in the latter method, the trust will get a dividend income from
the SPV which will be exempt from tax in its hand.
The other source of income will be by way of interest on loans provided to the SPVs by REITs.
Such an interest is exempted from tax as per Section 10 (23FC) of the Income Tax Act, 1961, in the
hands of the trust;
No tax at source is required to be deducted by the SPV at the time of making payment to the trust,

The New Real Estate Investor
Great Starting Ideas For the New Real Estate Investor
By David Neese | Submitted On February 08, 2006
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In his interview with me, John Paul Moses, who is the founder of our Local Memphis Investors
Group, was willing to give us some tips about how to start as a real estate investor. After reading
"Rich Dad, Poor Dead" by Robert Kiyosaki he decided to start as a real estate investor. The book
says to do this you need some preparation, so he went to the Internet and stocked every bit of
information from the articles, news groups and discussion forums. By that time he started a long
term friendship with Matt Scott who runs a great website called dealmakerscafe.com. That 's how he
learned the meaning of the word "escrow" and what the difference was between a mortgage and a
trust and real estate basic terminology. The Internet might be one learning ground. If you buy a real
estate course you have to be very careful. The first course John Paul bought was in his opinion the
worst real estate course and never did a deal from knowledge gained in that course. But at least he
learned real estate terminology and spending $400 on that course proved to him that he

Capital Fund Should Take A Buy Recommendation On Liberty...
Investment Thesis
Recommendation:
The D'Artagnan Capital Fund should take a buy recommendation on Liberty Property Trust. Some
of the main reasons for investing are
They are continuing to expand their properties – in 2016–2020 there is a plan to expand the amount
of properties that they own.
Able to maintain a stable return on their operating real estate
They continuously are able to lease almost 100% of their properties
They are diversifying where they operate
They have good customer loyalty. They continue to have leases renewed
Net Asset Valuation:
Net Asset Valuation was the valuation to value Liberty Property Trust. The reasoning for using Net
Asset Valuation is that real estate investment trusts are just a bundle of individual properties and
their gross real estate operating assets and the net operating real estate on their balance sheet. Total
real estate value is the largest driver for the value of the company, and total real estate value usually
drives between 90% and 95% of their revenue and their net operating income
Capitalization Rates, also known as cap rate, is a ratio of Net Operating Income divided by the
property asset value. The Capitalization Rates were retrieved from Bloomberg using the command
CPRT. The cap rates were calculated by ensuring that industrials or office was selected in the
property type and the state in which the company owns properties. The cap rate for quarter two is
the weighted average. Once the states weighted average

London Is The International Capital Of The World
It's safe to say that London is the international capital of the world, nestled perfectly in between the
west and the east, it has the ability to have an effect on the entire world culturally, politically, and
economically. It is for these reasons that London has emerged recently as the financial center of the
world. As regulation and immigration issues have slowed down New York, London has attracted
companies and investors that are looking for a save haven in turbulent times, London is seen as an
attractive location for foreign investment because it is seen as a very stable and secure city. Perhaps
the most attractive product that this international hub provides to foreign investors is real estate.
According to Financial Times, prime London housing prices have risen 73 percent from March 2009
to November 2014, this kind of substantial increase in property value is exactly what international
inventors are looking for (Norwood). Looking at Forbes study surveying where international
investors are putting their money proves this statement, 63% of investors increased their property
portfolios in the U.K. with London leading all European cities with 43% followed by Paris with
19% and Frankfurt with 14% (Rapoza). Chief Executive of the Association of Foreign Investors in
Real Estate said this about the attractiveness of London, "It's very easy to invest in London, there are
no restrictions, the tax regime is good for foreign investors. And it's an international city so it
attracts

The New Way For Win At Real Estate Investing
The New Way To Win at Real Estate Investing
By Lori L Greymont | Submitted On February 14, 2012
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Expert Author Lori L Greymont
Over the years I 've seen many changes in real estate investing. Currently, I 'm seeing a subtle but oh
so ever present transition in real estate investing. It involves a shift in the way folks think about their
real estate investment, a movement towards being more dispassionate, a movement away from
qualitative and being more focused on the quantitative. Folks historically look at property differently
than they do other investments. They look at their rental properties with the same viewpoint that
they look at their home, with some pride of possession.
You would not look on your technology stock with pride of possession, unless maybe it was Apple
stock and you used to be a Macophile. But with real estate, there has a tendency to not only take
pride in your properties, but to extend the stock analogy a buy–and–hold mind–set.
What I am both seeing and recommending is a shift away from that. For one thing, if you go into RE
investing with that disposition, it will break your heart. You can not think about investment property

Tips For Commercial Real Estate Investment
Tips For Commercial Real Estate Investment Commercial Real Estate Investment involves buying
commercial properties that are bigger than a 4 unit apartment building. It is that real estate
investment in which an estate is rented out or sold to make profit through rental income, interests,
dividends, royalties, etc. but not for primary residence. It is better for the investors who are
beginners in the field to avoid commercial real estate investment strategy. On the other hand,
experience investor can go for for this kind of investment as the competition is much less. It is also
the best choice asset class for building wealth, you may ask why? This is because there is a limited
supply of land; no more land is being created! If you select a real estate with a land component in an
area of increasing population and demand, the laws of supply and demand will work in your favour
to increase the value of your investment. It provides better leverage than any other asset investment,
with the ability to typically borrow at least 80% of the purchase price on house and land packages.
100% lends are possible in some circumstances. It physically exists and everybody needs a roof over
their head. Wherever there are people, there will be demand for real estate. Given a healthy national
economy, no deflation, an increasing population, or at least increasing demand for property in your
chosen investment area, then your investment is liable to increase in value over time. You may have
no

Advantages And Disadvantages Of Privatization
Privatization refers to the transfer of business, property or ownership of the government to the
private sector. The government will not own the entity or the production anymore. By Kosar (2006),
it is a shift of the function from the state to the private sector. Privatization is often used to increase
the revenue of the government, it is a common economic tool. (Addams, 2006). According to Poon
(2004), privatization can be divided into four categories which is sales arrangement: meaning of
transferring ownership of the government to the private enterprises, contracting arrangement: it
involves transfer of service productions from the in–house government to the private contractors,
deregulation: reducing the state regulation by market entry restrictions to increase market
competition, user pay: it assumes people are rational and separate individuals who aim to earn profit
in everyday lives. These are some definitions ... Show more content on Helpwriting.net ...
The privatization of some government–owned monopolies often occur deregulation, meaning they
will use some policies that can allow more companies of business enter the industry and increase
market competition. (Pettinger, 2017). With increased market competition, shops tend to decrease
their prices so that they can fight for more customers. It also encourage more development on
products, so more new goods can be produced and consumers can have more product choices.
Owners also provide higher quality services in order to keep their old customers and attract more
new customers. (Lau, 2014). They will also increase their productivity under a more competitive
market, they can respond faster to market changes and make better and more flexible market
decisions. When developing the economy, it promotes the private enterprises, increases financial
flexibility and helps with the expansion of the private sector. (Li, 2012). This leads to an overall
better economic

Student Accommodation Tends to Be Less Volatile than Other...
Focus of the real estate sector has shifted towards the student accommodation sector because of the
shift in the demand of the land market in the UK. Shortfall is present and international demand is
increasing because of the international students. Analyst suggests that this is a counter cyclical, but
in this case the yields come when the crisis in credit is present. This sector is the strongest asset
sector in the UK today. This is the safest investment opportunity in the country. OECD countries
have been receiving more students than they send abroad for the tertiary education. The citizens of
the OECD countries are studying abroad. 83% of the students are enrolled in G20 countries. 77% of
the foreign students have enrolled in the OECD countries. These proportions have been static during
the past few decades and this figure is increasing with the passage of time (Mok, 2013). Geographic
areas are the most promising feature that attracts foreign students to enrol in European countries,
especially the UK. The figures represent that 48% of the students enrol from North America. With
this figure, another important aspect is present that explains how America only enrols 22% of the
international students and 48% of the local citizens of America prefer to study in other European
countries. The internationalization of universities has helped in attracting more international
students in the countries. The UK has a promising feature that explains that the students will have a
higher

Real Estate Investment And Capital Markets
Overview
Real estate is a highly cyclical industry that is affected by changes in local and national economic
conditions. Real Estate Investment and Capital Markets are examined by the cash flow or the value
covering the structure and operation of the private & public real estate, as well as any markets that
involve real estate. Financing is a very important aspect of real estate development. A lot of
financing options are available for real estate investment. A wide range of topics in equity real estate
investment are examined including private equity markets, public and private real estate investment
trusts, problems in measuring risk and return, valuing publicly traded real estate securities,
performance evaluation and risk management techniques. (naiop.org)
The vast majority of investors do not have the cash in hand to cover their entire real estate
investments & most are purchased with leverage. Real estate investment finance can come from a
variety of sources that is lenders, bank or a finance company and be structured in many ways. Some
successful investors, even those with the cash to cover their real estate investment cost completely,
have made sizable purchases with minimum cash outlays sometime even with no cash. This is a
technique known as Other People's Money to make investments and profits. (Entrepreneurial–
insights.com)
Introduction
Real estate is the property which comprises of land and the buildings on it as well as the natural
resources of the land

18. From your major transaction at 2010 and 2011, how much return your are expecting by the end
of this year?

Dancing Bird
11.431/15.426J Real Estate Finance & Investments I: Fundamentals & Micro–Level Analysis Fall
2006
Introductory Lecture Slides
(Selections from Chs.1, 2, 7 of text.)
1
Overview: 1. 2. 3. 4. 5. 6. Magnitude of Real Estate Investment Performance of R.E. Investment
The "Real Estate System" (role of capital mkts) The space market The asset market & investment
industry Example real world R.E. development investment
2
Magnitude
Figure 1a: Net Asset Value of U.S. Structures ($ billions, 2003, source BEA) Total = $ 23,747
Govt. R.E., $5,751
Houses, $11,917
Commercial R.E., $6,079
3
Magnitude
Figure 1b: Net Asset Value of U.S. Commercial Real Estate Structures ($ billions, 2003, source
BEA) Total = $ 6,079 ... Show more content on Helpwriting.net ...
Individuals:
– THE 25–YR–OLD "YUPPY" ? . . . – THE 25–YR–OLD "DINC" COUPLE ? . . . – THE 35–YR–
OLD "YOUNG FAMILY" ? . . . – THE 45–YR–OLD "MID–LIFE CRISIS" ? . . . – THE 65–YR–
OLD "RETIREE" ? . . .
DIFFERENT LIFE STYLES, LIFE CYCLES, PERSONAL GOALS, LEVELS OF WEALTH

14
Asset Mkt
WHY DO PEOPLE INVEST?...
Institutions:
– LIFE INSURANCE COMPANIES – PENSION FUNDS – MUTUAL FUNDS – BANKS –
FOUNDATIONS
DIFFERENT CONSTITUENCIES, EXPERTISE, LIABILITIES, REGULATIONS, SIZES
15
Asset Mkt
WHY DO PEOPLE INVEST?...
===> DIFFERENT TIME HORIZONS, RISK TOLERANCES, NEEDS FOR INCOME vs
GROWTH Therefore, . . . (opportunities for new product development in the investment industry)
16
Asset Mkt
TWO MAJOR INVESTMENT OBJECTIVES:
1)
GROWTH (SAVINGS) RELATIVELY LONG–TERM HORIZON (NO IMMEDIATE NEED);
INCOME (CURRENT CASH FLOW) –SHORT–TERM & ON–GOING NEED FOR CASH.
2)
17
Asset Mkt
MAJOR CONSTRAINTS & CONCERNS:
–
RISK LIQUIDITY TIME HORIZON MANAGEMENT BURDEN, EXPERTISE AMOUNT OF
FUNDS AVAILABLE FOR INVESTMENT (SIZE) CAPITAL CONSTRAINT Therefore (again), . .
. What?
18
Example

Montague Court Development Cost Budget: Hard Costs 1. Land 2. Base Shell & Sitework 3. Tenant
Improvements Total Hard Costs: Soft Costs 4. Architect/Engineers 5. Permits/Fees 6.
Legal/Title/Taxes 7. Marketing 8. Leasing Commissions 9. Developer Fee 10. Contingency 11.
Construction

Real Estate Investment
Real Estate Investment analysis Real Estate has evolved as the most profitable business over the
years for those who can invest heavily in land or property and wait for their increase in value.
However, the property may fetch instant cash in exceptional times like the sudden increase in value
due to market reasons such as experienced just before the global financial credit crunch or due to the
property's unique location. This is classified under the short term type of real estate investment. The
classification is based on the relative time spent to consolidate worth. The long term type of real
estate investment therefore means that the owner has to wait for longer for the property or land to
consolidate worth. (Isaac, 1998). ... Show more content on Helpwriting.net ...
Development investment types undertake investment with a view to retaining property as an
investment. Purely development companies are developer/traders who sell developments on
completion. Investors usually put importance on certain features such as the quality of the assets
which normally involves examining the age, tenure and location of the properties, the management
quality, sources of income, gearing and capital structure of the company. Real Estate Investment
Trusts (REITs) Real Estate Investment Trusts are companies that buy, sell, develop and manage
property assets. They elect to qualify under certain tax provisions to become owners of property and
mortgages, and to pay dividends without prior deduction of corporate taxes. REITs companies work
as a security and sell their products on all the main stock exchanges in stocks. Money is put directly
into the business through property or mortgage. The main feature as mentioned above is that they
enjoy exclusive tax consideration by the government and the returns to the investor are higher and
easily convertible to cash for the investor compared with other types of investments. It is ideal for
individual investors since they can directly access the stock exchange directly or through stock
broker. In a real estate partnership, different investors come together to invest. Funds and resources
are

Analysis: Tritax Big Box
Smart logistics: Tritax Big Box REIT plc
Tritax Big Box REIT owns one of the largest logistics warehouses in the UK. Tritax bought the
900,000 sq. ft. asset (the size of two football stadiums) in December 2013 for £82.6 million at an
initial 5.1% yield, and has leased the facility to retailer Marks & Spencer for a 23–year term. The
retailer is continuing with a £250 million fit–out of the facility – this is 60 times the annual rent
M&S pays to Tritax. This demonstrates how sticky the tenant is and how unlikely it is that large
retailers would move sites within a sensible time frame. The almost fully automated facility at
Castle Donnington operates 24 hours a day with 1800 staff, up to two Lorries arrive per minute at
peak times, and there ... Show more content on Helpwriting.net ...
Prime quality Big Box warehouses are in high demand from occupiers requiring close access to the
densely populated London conurbation. This is one of the very few sites inside the M25 capable of
accommodating a facility of this size."
Why Big Boxes? The best of logistics
Big Box assets are very large and highly efficient distribution centers and logistics hubs. Their
primary function is to hold finished goods for distribution, either downstream to other parts of the
supply chain or directly to consumers. While Big Boxes are a sub–sector of logistics, they have
Characteristics not evident in the rest of the logistics sector. As a result, they believe Big Boxes
should be viewed very differently from smaller logistics buildings. Big Boxes as they know them
today did not exist in the UK before the early 1990s, when distribution buildings of more than
300,000 sq ft were extremely rare. Most high quality Big Boxes have been constructed over the past
15 years.
A Big Box typically has the following characteristics:
a large floor area, generally between 300,000 and 1,000,000 sq ft;
an eaves height of between ten and 25 meters, allowing for the installation of racking or mezzanine
floors to increase the useable

Swot Analysis : Acadia Realty Trust
Overview of REITS
REITS
REITS is a special company that mainly owns and in most cases operates income–producing real
estate such as apartments, shopping centers, office hotels and warehouses. Some REITS also engage
in financing real estates. The shares of many REITS are traded on major stock exchanges for
example Boston Properties Inc., General Growth Properties, Inc., Acadia Realty Trust ...; on the
other hand, many REITs are public non–listed and private REITs. There are very strict requirement
for a company to qualify as a REIT. The items listed below are some of the basic requirement of
REITs:
Organize as a Corporation, business trust or similar association
Be managed by a board of directors or trustees
Have shares that are fully ... Show more content on Helpwriting.net ...
As a result, their main source of income comes from the interest on these investments or by the sales
of mortgages. Hybrid REITs are a combination of both equity and mortgage REITs.
In 1974, there were an even number of REITs between three types 12 equity, 12 Mortgage and 10
Hybrid; however, in 2006, the number of equity REITs increased to significant number (138) while
there were 38 Mortgage REITs. On the other hand, the number of Hybrid REITs had reduced to only
7. Due to the recent financial crisis, the number of REITs in 2008 reduced to a total of 136 with 113
of them are Equity, 20 are Mortgage and only 3 Hybrid. As of 2014, due to the recovery of the US
economy, the number of REIT increased to 216. Among those, 177 are Equity REITs, 39 are
Mortgage while there are no Hybrid REITs.
REITs offer investors a number of benefits including:
Simple tax treatment: REITs do not pay taxes at the corporate level; only investor's dividends are
taxed as ordinary income, capital gain or return of capital
Diversification: the average performance of REIT has been more or less equal to US common
stocks; however, the correlation of the long term return has been varied. This correlation would
prove to be benefit for investors over the past 20 years; in addition, REITs gives investors an
opportunity to invest in income–producing real estate without owning the actual property
Dividends: Stock exchange listed REITs provide a consistent stream of income to investors due to
one

Novice Investors Make The Same Exact Mistakes
As a real estate investor and advisor, I often see novice investors make the same exact mistakes. As
a result, I decided to create the following list to help novices understand what these common
mistakes are and how to avoid them. The good news is that all of these mistakes can be easily
corrected. The bad news is that any one of these mistakes will seriously limit your potential for
success. In my experience, these are the 9 most common mistakes I see novice real estate investors
make:
1) Not getting an education
Getting an education is a critical part of becoming a successful real estate investor. It 's much easier
and less costly to educate yourself than to make mistakes in the real world. We are lucky to live in a
country full of educational opportunities for whichever endeavor we want to pursue. Surprisingly
though, not everyone takes the initiative to learn before they take action. This exposes these people
to costly (and sometimes career–ending) mistakes that could have easily been avoided. Some
misguided people even complain that the books, courses, or seminars promoted by real estate
experts are too expensive. I guess that depends on where you stand. To me, they seem cheap
compared to what I know can be earned in this business. Perhaps to a novice though, they may seem
expensive. But as the saying goes, "If you think education is expensive, try ignorance." Think about
it. Is a $500 course worth it if what you learn only makes you $5,000 on a single wholesale deal?

Real Estate Industry
Areas, such as land, crops, minerals, fixtures, and naturally structures define real estate. The
definition of real estate is the purchase, marketing, and leasing of buildings such as residential,
commercial and industrial properties are erected to house people, materials, and machinery.
The Real Estate industry is 20 percent of the GDP or Gross Domestic Product, for each transaction
there is a minimum of 200 steps need to escheat clear deed. Within a commercial transaction, time
and finance are stringent, then is found in a residential transaction.
According to the National Association of Relators, the governing board for the real estate industry,
states that as of 2016, Existing–Home Sales reached 5.49 million units with Median Price of ...
Show more content on Helpwriting.net ...
They are successful, but the one that I feel that has the most room for growth is Ventas.With the
blending of two dynamic industries of healthcare and real estate. The opportunity for growth is
boundless. Several factors support my argument; the first is that baby boomers are close, or some
are at retirement age. Second, with the retooling of the Affordable Care Act, the increase for medical
facilities will be needed. In closing the real estate industry whichever field you choose to enter into
can be very profitable for you and also

Questions On Real Estate Cash Essay
1500 Words
Research:
https://www.biggerpockets.com/renewsblog/2015/04/18/leverage–vs–pay–cash–rental–properties–
debate/ http://epicrealestate.com/episode62/ http://www.meetup.com/gpreia/events/130520792/
Meta Description:
Meta Key Words:
Real Estate Cash Buyers, Finding Cash Buyers, Leveraging Cash Buyers, Cash Real Estate
How to Find Cash Buyers and Leverage Your Relationship With Them
It doesn't matter if you're just getting started in the world of Real Estate Investing or if you're a
seasoned professional, buying five properties a month, you need cash buyers. If you've done your
homework and are marketing correctly, you should have more deals coming at you in any given
month than you can possibly handle. That's where your cash buyers step in and save the day, taking
those deals off your hands that you can't devote time to. In this article we'll be answering a few basic
questions about cash buyers:
What are cash buyers?
Why do you need them?
What role do they play in your business?
Then we'll go into some depth on where to find cash buyers, how to cultivate and manage
relationships with potential cash buyers, and how to leverage those relationships when you need to.
Many people new to the business, and even some that have been around a bit fail to grasp the
importance of cash buyers. Remember, some cash buyers could be a source of financing when you
critically need it. They are an essential part of running a thriving Real Estate Investing business.
What are

A New Real Estate Investment Trust, By Michael J. De La...
Microeconomics Essay
In the following articles there is talk about different economic situations. For example there is talk
about the high demand of jobs, while there are many potential employees and how that affects the
wage not growing. Also talk about change in Demand with references to expanding to an
international market as a way to increase sales in a way other than price change and how this would
cause a right shift in the demand curve. "Sears Weighs a New Unit to Hold Some of Its Real Estate",
by MICHAEL J. DE LA MERCED (New York Times NOVEMBER 7, 2014)
Summary
In an effort to raise cash to offset a steady stream of losses sears chief executive Edward S Lambert
unveiled an unusual financial maneuver that it may employ: selling some of its stores to a new real
estate investment trust. Sears disclosed that its comparable sales for its domestic locations in the 39
weeks that ended Nov. 1 were roughly flat, while those at its Kmart stores were down 1.2 percent.
Perhaps more troubling, the company added that it could lose up to $630 million in the quarter
ended Nov. 1. Putting most of the company's real estate in a separate entity ultimately raises
questions about what Mr. Lampert will do with the company. (As the company's biggest shareholder,
with a roughly 48.5 percent stake, he would most likely own about the same percentage of the
investment trust.) Though selling the stores to the REIT would generate much–needed cash and
assuage any vendors nervous about being

The Real Estate Investment Trust
This is different from the term land used in economic term, which refers to pieces of land, livestock,
minerals, oil, gases, crops or anything that comes from land source. On the other hand, term
personal property can include land, as well as anything that is subject to ownership of tangible assets
such as stocks, bonds, cash, notes or intangible assets such as patents or intellectual property.
The Real estate is that area of investment which has been used for the purpose of accumulating
wealth in the form of assets for more than thousands of years. It has been observed that in the
investor's portfolio that real estate has taken a significant portion in the form of investment asset.
Basically, there are two forms of real estate, one is ... Show more content on Helpwriting.net ...
This includes information related to tax structure, immigration laws and the number of days they
have to be present in the country to be deemed as a foreigner (Mettling, Cusic, & Mettling, 2015).
Apart from individual state laws, the buying and selling agreement between both parties of a real
estate is governed by the general principles of contract law. The agreement and its terms, which
include the value of property, the seller and buyer information, title of ownership is required to be in
written form, that is signed by all the parties involved. Generally the real estate contracts require the
title of the property as a marketable entity and an attorney regularly investigates the marketability of
the title in legal terms. Delivery and execution of a deed with proper description is compulsory for
title to pass and officially recorded by the real estate law. Moreover, apart from buying and selling
of property, renting and leasing for residential or commercial purpose of a property is also regulated
by the states. Under the estate law, such include the handling of security deposit, evictions, etc
(Sprankling, 2011).
The purpose of purchase and how the property is used by the owner is also regulated by the state
and local law. This includes using the property in a legal manner, with construction and
development

Multifamily Properties
The multifamily real estate market remains one of the more popular investments for investors who
want to take an active role in building their capital. Instead of passively handing over their money to
a fund manager running a real estate investment trust or investing in individual stocks, multifamily
investors use one of several investment strategies to build real cash flow. Instead of hoping for the
price of a stock to rise or waiting for companies to declare dividend payments, real estate investors
strategically use multifamily properties to build passive incomes from monthly rents or a steady
appreciation in the value of the properties.
A Closer Look at Multifamily Properties
The definition of a multifamily property is a building consisting of two or more housing units that
are adjacent to each other either horizontally or vertically. What is important about the definition for
multifamily investors is each housing ... Show more content on Helpwriting.net ...
Some experts feel the multifamily sector will remain appealing to investors as more millennials
enter the job market and start to seek out rental housing. Other experts feel that the multifamily
sector will experience continued growth if consumers continue to shy away from buying a home. A
slow economy and strict mortgage eligibility requirements keep many consumers from buying a
home and turning instead to the rental market. However, rising rents in multifamily properties could
price many consumers out of the market, which would stall any growth in both the commercial and
residential rental sector. This is not to say that will occur, especially if average wages continue to
rise in the U.S. along with rising

Working At Pennymac Commercial Real Estate Finance

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