1st Edition

Practical Finance for Property Investment

By Craig Furfine Copyright 2020
    174 Pages
    by Routledge

    174 Pages
    by Routledge

    Practical Finance for Property Investment provides readers with an introduction to the most fundamental concepts, principles, analytical methods, and tools useful for making investing and financing decisions regarding income-producing property. The book begins by considering how to value income-producing property by forecasting a property’s cash flows and estimating appropriate discount rates. It then discusses how both debt and private equity are used as methods to finance a property’s acquisition. The book provides a thorough discussion of the taxation of property income as well as how investors can quantify the risks to investing in property. The book concludes with important considerations for investors when their investment thesis does not come to fruition.

    Practical Finance for Property Investment offers a unique and novel pedagogy by pairing each book chapter with an in-depth real-world case study, which forces readers to confront the occasional tensions between finance theory and property investment practice. The book is designed for investors and students interested in learning what finance theory implies about property investment.

    Readers and Instructors can access electronic resources, including the spreadsheets used in the textbook, at the book's website: www.routledge.com/9780367333041.

    Chapter 1: Leasing

    Chapter 2: Property valuation

    Chapter 3: Debt financing

    Chapter 4: Equity partnerships

    Chapter 5: The taxation of property investment

    Chapter 6: The quantification of risk

    Chapter 7: When things go wrong


    Craig Furfine is a Clinical Professor of Finance at the Kellogg School of Management at Northwestern University where he teaches classes in corporate finance and real estate finance. Furfine has published scholarly research on interbank markets, banking, and real estate finance and 18 case studies covering a wide range of topics on the latter.