Sam Liebman

Harvard Can't Teach What You Learn from the Streets (eBook, ePUB)

• Format: ePub

Produktbeschreibung

There are many paths to becoming successful in real estate. But flipping houses, holding a license or owning a home is only the beginning of what could be a long and transformative journey to building lasting wealth through real estate.Your new instructor is about to arrive, but he won't be sitting you down in a classroom-instead, the opposite. Real estate investment icon Sam Liebman will whisk you straight from your seats down to the streets.Harvard Can't Teach What You Learn from the Streets is no ordinary real estate investment guide. It's Sam Liebman's "e;no holds barred"e; deep dive into the fine art of becoming a real estate mogul yourself.Liebman experienced a rise to notoriety as a real estate investor after taking 4 vacant stores in Manhattan and building a new 21-story luxury condominium project with a sellout in excess of 100M. He has a penchant for taking property from rubble to ritz, and breaks down exactly how even a beginner investor can replicate the process.A classroom environment can only teach you so much. But raw experience can take even the greenest investor and forge them into a seasoned pro. Through transparent access to Liebman's expertise, you'll be on the fast track to commercial real estate success.Sam Liebman will teach you:To master the core fundamentals of real estate systematically, one step at a time.The financial categories and components of a properties revenue and operating expenses.The tricks of the trade, the knowledge the pros use, and what goes on in the back room.How to uncover the "e;inside story"e; of a property, allowing you to find opportunities overlooked by others.And much, much more.Harvard Can't Teach What You Learn from the Streets paves the way for new investors to transform their lives through the power of commercial real estate.And by standing on the shoulders of giants such as Sam Liebman, you'll be able to reach far beyond where you've ever thought possible.

Produktdetails

• Verlag: Blackstone Publishing
• Erscheinungstermin: 11. Januar 2022
• Englisch
• ISBN-13: 9798212323437
• Artikelnr.: 66030208

Autorenporträt

Sam Liebman is currently the founder and CEO of WealthWay Equity Group LLC, a New York based private equity and real estate Development Company (www.wealthwayequitygroup.com). He has owned substantial interests in over 70 properties during the past 30 years, ranging from multifamily communities, office buildings and shopping centers to the ground up construction of a luxury 21-story condominium development in Manhattan. Liebman has extensive experience in finance, property management, acquisition, and development.

He is also the chief executive officer of Rolling Cash Realty, Inc., a real estate management company, as well as a partner in Tepper & Co., a certified public accounting firm. From 1983 to 1986, Mr. Liebman served as the chief financial officer of Mountain Development Corp., a leading New Jersey real estate development company. Liebman has extensive experience representing owners, choosing properties for acquisition, and subsequently negotiating their purchase and sale. He has overseen new building construction and interfaced with renovation and operational staff, architects, engineers, and contractors.

In 2008, he formed a fund that turned $9,000,000 in capital into a portfolio of 20 properties with an aggregate market value that has grown to over $120,000,000.

After decades of experience, he's now committed himself to teaching others how to build lasting wealth through real estate. His promise is to teach his students the fundamentals and tricks of the trade so that their knowledge of real estate will increase exponentially!

Inhaltsangabe

PREFACE: BECOME A REAL ESTATE PROFESSIONAL
FOREWORD
INTRODUCTION
CHAPTER 1: WELCOME TO THE NEW MILLENNIUM, WHERE INSTANT GRATIFICATION TAKES
TOO LONG
How to Not Become Successful
Et tu, Harvard?
Learn Street Knowledge
Learn to Be a Student of the Game
The World's Largest Book: The Book of Excuses
FEAR! The Number 1 Stumbling Block for Success
What this Book Offers
CHAPTER 2: UNDERSTANDING THE BASIC ARITHMETIC & ANALYTICAL CONCEPTS NEEDED
FOR SUCCESS IN THE REAL ESTATE BUSINESS
Understanding the Rent Roll
The Effect of Capitalizing and Compounding the Rent Roll
Understanding Net Operating Income (NOI)
Understanding Cap Rates
Understanding the Difference Between Gross and Rentable SF
The Effect of Upgrading Units and Increasing the Rent Roll
Introducing a Potential Pitfall - The Maxed-Out Rent Roll
Understanding the Statement of Net Cash Flow
Understanding Effective Gross Income
Understanding Operating Expenses
Understanding Cash-On-Cash Return on Investment
CHAPTER 3: ANALYZING THE OFFERING MEMORANDUM (OM)
Summary of the Offering Memorandum (OM)
Offering Summary
Site Description
Building Information
Construction Information
Mechanical Information
Utilities
Amenities
Tax Information
Zoning Information
School Information
Unit Mix
Financial Information
CHAPTER 4: THE LETTER OF INTENT (LOI)
Introductory Paragraph
Purchase Money Mortgage
Closing Date
Real Estate Commissions
Earnest Deposit
Closing Costs
Inspection of the Property
Due Diligence Period
Title Insurance and the Title Company
Financing Condition
The Contract
Withdrawal of Property from Market
Non-Binding Agreement
Confidentiality
CHAPTER 5: PERFORMING PSYCHOLOGICAL DUE DILIGENCE
Psychological Due Diligence
Analytical Due Diligence
Uncover the Inside Story of the Property
Ask! Answer! And Analyze!
Every Property Has Two Personalities
CHAPTER 6: THE PROPERTY PROFILE
What is it? What was it? What can it be?
Third-Party Reports
Put on Your Detective Hat and Start Interviewing
Highest and Best Use
Appraiser's Methods to Value Property
CHAPTER 7: THE FOUR BASIC METHODS TO INCREASE PROPERTY VALUE
Purchase a Property and Do Zippo (Nothing)
Purchase a Property and Increase the Property's Revenue
Increasing Revenue
Billing Tenants for Utilities
Purchase a Property and Increase the Property's Rentable Square Feet
CHAPTER 8: PURCHASE A PROPERTY AND DECREASE THE PROPERTY'S OPERATING
EXPENSES
Management
Supervisory Management
Decreasing the Property's Operating Expenses
Real Estate Taxes
Warning: Danger! Danger!
Contractors, Subcontractors, and Vendors (collectively ?Contractors?)
CHAPTER 9: UNDERSTANDING WHY CAP RATES CHANGE
A Narrative of the Changes in Cap Rates: 1991 to 2019
The Start of a Comeback: Cap Rates Decrease 1997 to 2000
Factors Contributing to the Current Low Cap Rate Environment
Tax Benefits: Before Trump's New Tax Laws in 2017
A NOTE FROM SAM LIEBMAN
APPENDIXES
Chapter 2 Appendixes
Chapter 3 Appendixes
Chapter 4 Appendixes
Chapter 6 Appendixes
Chapter 7 Appendixes
Chapter 9 Appendixes