Category Archives: articles

Investing in Real Estate: How Much Analysis Do You Really Need?

More than once – in my writing, my teaching, talking in my sleep – I have been known to say that real estate investing is all about the numbers. There is, of course, great truth in that pithy statement, or so I believe; but there is perhaps more to the story that you should be careful not to overlook. Continue reading

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Real Estate, Healthcare, and Your 2013 Taxes – Some Surprises Waiting for You?

Champagne, funny hats, and the ball-drop in Times Square might not be the only significant events to mark the New Year in 2013. If you are a real estate investor or a home-seller, you could have a couple of surprises lurking in your federal taxes: The Medicare Tax and the Capital Gains Tax Continue reading

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Ten Commandments for Real Estate Investors: Commandment #1

Ten Commandments for Real Estate Investors: Commandment #1 Thou shalt take nothing for granted. There is a witticism attributed to American humorist Finley Peter Dunne, “You trust your mother but you cut the cards.” In real estate, of course, the parallel concept is due diligence. If you assume that things are as they appear and if you fail to vet your potential deals independently, you’re setting yourself up for unwelcome and expensive surprises. Continue reading

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Refi Existing Investment Property to Purchase Another?

One of our Facebook fans, Tony Margiotta, posed this question, which I’m happy to try my hand at answering here: “Could you talk about refinancing an income property in order to purchase a second income property? I’m trying to understand … Continue reading

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5 Mistakes Every Real Estate Investor Should Avoid

In my nearly 30 years of providing analysis software to real estate investors, and almost a decade of writing books and teaching real estate finance at Columbia University, I’ve had the opportunity to talk with thousands of people who were … Continue reading

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For Real Estate Investors: A Lesson in Clarity

Recently, I was conducting the last class in my course on real estate investment analysis that I teach in Columbia’s MSRED program. I had assigned my 55 students a series of case studies (much like those in my book, Mastering Real Estate Investment) and told them to build financial pro forms and discuss the reasoning behind their analyses. After reading and commenting all those analyses, I felt there was one overarching theme on which I wanted to focus my final remarks to the troops: The theme was “clarity.” Continue reading

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MIRR — How It Works

From our experience, it appears that Internal Rate of Return (IRR) is the metric of choice for many, if not most, real estate investors. However, you may be aware that there are a few issues with IRR that can cause you some vexation. That’s where MIRR comes in. Continue reading

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Five More Rules of Thumb for Real Estate Investors

In a previous article – Six Rules of Thumb for Every Real Estate Investor – I offered some guidance that might reasonably be held dear by every income-property investor. Woe to him or to her who doesn’t take a property’s vital … Continue reading

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Six Rules of Thumb for Every Real Estate Investor

Whether you’re scrutinizing a piece of property you already own, one you want to sell, or one you may choose to buy or develop, you need to master the metrics. The numbers always matter. Here are six basic rules to keep in mind. Continue reading

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Commercial Real Estate Financing — What to Do Now

An interview with commercial real estate broker George Blackburne on the state of commercial financing. Continue reading

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