The Complete Guide to Financing Real Estate Developments

Real estate expert Ira Nachem explores the pros and cons of large versus small institutions; how to structure and present a loan proposal, the approval and closing processes; the truth about appraisals, guarantees, insurance and lien law; financial and physical bonuses and constraints, environmental issues and many other topics. Nachem presents in-depth information and explanations that answers questions on: - Who the Commercial Real Estate Lender Really Is - What Information Should the Borrower Produce - How a Workable Budget is Created - How the Lender Evaluates a Borrower - What the True Value of an Appraisal Is - What goes into a Lender's Loan Presentation - What to Expect at a Closing - What Key Legal Documents are Most Important - What the True Value of a Guarantee Is - How the Borrower and Lender Prepare for the Funding Process - What Is involved in Loan Administration After the Closing - What Is the View from the Borrower's Perspective - What Are some of the Constraints and Incentives to Development - What Are the Values and Risks of Insurance and Bonding - What Is the Reason for Title Insurance and how does it work - What Are the Complexities of Lien Law and how does it work - How Is the Loan Eventually Repaid - What Real Estate Math Is Essential for the Professional - How Important Are Environmental Issues - How Can the Lender Find New Loan Prospects - What Are the Risks and Rewards of Loan Participations Featuring a wide range of helpful examples and illustrations, The Complete Guide to Financing Real Estate Developments covers many of the day-to-day realities faced in the real estate industry including the differing perspectives of lenders and borrowers, their personal pressures, personalities and politics, and much more.