Nicholas Dunlap, CPM

This is not your grandpa’s book on real estate investing. You know, the one with 500 pages that you gave up on years ago, cluttered with scientific jargon and about as enjoyable as a root canal. And it’s not the get-rich-quick scheme du jour that will teach you how to flip houses and make billions in your sleep. Brick and Mortar Piggy Banks focuses on how to own and operate positive cash flow real estate investments.

In this eBook, real estate investment is broken down into three simple steps:

1. Understanding why real estate is a superior investment type
2. How to underwrite, conduct due diligence, and acquire multifamily and commercial property
3. How to manage your investments after acquisition or hire the right management company

This book is part science, part study, and part how-to. Paired in with the lessons and examples are interviews with real estate investors from all walks of life who have created wealth and passive income through investments in commercial real estate. They share their tips and insight regarding real estate and provide the advice that they wish they had received when they started out.

Review
“A practical look at commercial real estate investment. Nicholas breaks down the investment process into three simple steps and explains not just the ‘why,’ but the how-to as well. An enjoyable and informative read.”
– Steve Strauss, USA Today

“Great insight for the beginning investor looking to acquire apartment buildings or build their real estate portfolio.”
– Jim Clarke, Apartment Association of Greater Los Angeles 

Publication date: 2013
ePub file; size 523 KB; 157 pages

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Income/Expense Analysis Reports give you the tools you need to plan, budget and forecast – and to stay one step ahead of your competition.

An essential tool for association management, this annual research report is the only one of its kind. Designed to assist condominium boards, managers, and developers, this report tracks utilities, maintenance, insurance, taxes, and amenities. Metropolitan, regional and national statistics are grouped according to association type (condominiums, cooperatives, and planned unit developments) and building type (high-rise, low-rise, or townhouse). This report provides managers, boards and developers with insights into each major area of project operation and enables them to make well-informed decisions about necessary replacement reserves, appropriate assessment levels, project budget and escalating expenses. This research study includes:

• Data from nearly 2,700 community associations nationwide
• Metropolitan, regional and national breakdowns
• Grouped according to association type and building type
• Analysis of over 25 expense categories
• Tracks utilities, maintenance, insurance, taxes, and amenities
• Hundreds of operating breakdowns
• Median monthly assessments
• Amenity package analysis

View for following Income Expense Analysis samples

• Sample Report
• Metro and Regional Sample Sizes
• Guidelines and Interpretations
• Regional Map

Softcover: 322 pages
ISBN: 978-1-57203-268-2

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There is never a dull moment in the life of a residential manager. From hiring new employees and balancing the budget, to overseeing construction projects and keeping the apartments leased, every day brings a new challenge and a problem to solve. There is no doubt that residential management is a complex and rewarding field.

The Field Guide for Practical Apartment Management provides managers with the tools and expertise necessary to professionally manage the day-to-day aspects of residential properties. It is a comprehensive guide book that will serve as an ongoing reference tool, and provides many forms and checklists for immediate, on-the-job application.

The Field Guide is organized into four parts that cover all aspects of managing multifamily properties.

Part 1: Human Resources and Relationship Management—putting the team together and managing those responsible for the property’s success.

Part 2: Finance—introducing the accounting and budgeting skills needed to meet the owner’s goals and objectives and providing a foundation for making day-to-day operating decisions.

Part 3: Maintenance and Risk Management—reviewing maintenance and risk management plans, as well as the tools and techniques for conducting inspections to protect residents, guests, and the owner’s asset.

Part 4: Marketing and Leasing—identifying appropriate marketing and leasing strategies and practices to find and retain residents.

The Field Guide for Practical Apartment Management is a comprehensive guide to apartment management, drawing upon the knowledge and experience of over a dozen recognized experts in the field.  The Field Guide is a must-read for everyone who manages apartments, whether they are new to the industry or seasoned veterans.

Copyright: 2015
Softcover; 448 pages

ISBN-10: 1-57203-224-3 
ISBN13: 978-1-57203-224-8

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Income/Expense Analysis Reports give you the tools you need to plan, budget and forecast – and to stay one step ahead of your competition.

This comprehensive, fully updated study contains detailed analysis of financial operations for multi-family properties across the United States. Summarized by building type, the income and expense data for each sample is presented in dollars per square foot of rentable area and as percentage of gross possible income.

• Data from over 4,100 multi-family properties
• Analysis of more than 120 metropolitan markets
• Presented in dollars per square foot of rentable area
• Percentage of gross possible income
• Dollars per unit
• Summarized by building type
• Statistical breakdowns by age, size, and range
• Analysis of vacancy rates and turnover trends
• A variety of historical trend reports
• Reports on Section 42 properties
• Concessions

View for following Income Expense Analysis samples

• Sample Report
• Metro and Regional Sample Sizes
• Guidelines and Interpretations
• Regional Map

Softcover: 252 pages
ISBN: 978-1-57203-267-5

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Income/Expense Analysis Reports give you the tools you need to plan, budget and forecast – and to stay one step ahead of your competition.

Gain insights into the special niche of managing federally assisted properties. The data enables owners and managers of apartment buildings that receive subsidies under one of the following federal programs: HUD sections 202, 221(d)3, 236, Section 8 and Rural Development section 515, the ability to accurately compare the performance of their portfolio properties against the data. This report summarizes the operating experiences of apartment buildings from across the United States and includes:

• Data from nearly 800 apartment buildings nationwide
• Data on five federally assisted programs
• HUD sections 202, 221(d)3, 236
• Section 8
• Rural Development section 515
• Building and subsidy type reports within metropolitan reports
• Tenant turnover and operating ratios

View for following Income Expense Analysis samples

• Sample Report
• Metro and Regional Sample Sizes
• Guidelines and Interpretations
• Regional Map

Softcover: 194 pages
ISBN: 978-1-57203-269-9

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Income/Expense Analysis Reports give you the tools you need to plan, budget and forecast – and to stay one step ahead of your competition.

Preparing an operation budget for a building in your portfolio? This report contains detailed analyses of office building operating revenues and expenses for major metropolitan areas and regions in United States. The income and expense data is presented in dollars per square foot for over fifty specific categories, broken out by building size, building height, and building rental range. This research report includes:

• Data from over 1,500 private-sector office buildings 
• Over 50 specific categories 
• Presented in dollars per square foot
• Arranged by building size, height, age and rental range 
• Major metropolitan and suburban markets studies 
• Revenue, expense, and vacancy trends
• Energy consumption analysis, operating ratios and leasing commissions
• Includes medical office buildings
• Green survey data

View for following Income Expense Analysis samples

• Sample Report
• Metro and Regional Sample Sizes
• Guidelines and Interpretations
• Regional Map

Softcover: 344 pages
ISBN: 978-1-57203-266-8

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Income/Expense Analysis Reports give you the tools you need to plan, budget and forecast – and to stay one step ahead of your competition.

Obtain answers needed for appraisals, operating comparisons, feasibility studies, loan requests, preparation and evaluation of acquisition, and sale proposals. This annual research report includes a chart of accounts that provides nearly 100 line items and over forty expense items. Special reports include Leasing Fees, Expansion, Tenant Turnover, Type of Ownership and Gross Sales Analysis. This research report includes:

• Data from over 300 shopping centers
• Income based on type of leases and anchors
• Chart of accounts that provides over forty expense items
• Data by age of center, size, regional areas, and national statistics 
• Tracks non-enclosed common spaces
• Special reports: Leasing Fees; Expansion; Tenant Turnover; Type of Ownership; and Gross Sales Analysis

View for following Income Expense Analysis samples

• Sample Report
• Metro and Regional Sample Sizes
• Guidelines and Interpretations
• Regional Map

Softcover: 194 pages
ISBN: 978-1-57203-270-5

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View a sample chapter

Investment Real Estate: Finance and Asset Management differs from other real estate investment and financial analysis publications by focusing on the real estate manager’s role to ensure that the real estate management company’s clients realize their investment goals for any given property. Real estate managers today are more than property overseers who must manage the day-to-day operations of their clients’ properties—they are often asset managers.

This book provides insight into the real estate management company and manager’s role in the financial analysis and asset management of a property. It also provides an inside look into the details of how to budget, forecast, and analyze cash flow.

Even if some real estate managers are not actively performing the financial analysis and management of a portfolio of investment real estate, they must have a basic understanding of the impact that various decisions about a property have on the cash flow and value of a property.

Today, owners have high expectations of their real estate management professionals. A strong knowledge of finance is an advantage that can enhance a real estate manager’s relationships with clients and the professionals that turn to them for their expertise.

Real estate managers play a key role in preserving and enhancing the earning power of a real estate investment, and ultimately the investment’s value. Experience, knowledge, and skills that are kept up to date are critical to being competitive and respected.

“How you perform as a real estate manager—NOI increases, vacancy decreases, and really looking at your budget fundamentals—has a direct impact on the value of your property. I would rather take a mediocre property and a top notch manager (preferably a CPM) than a top notch property and a mediocre manager any day.” –John D. Clayton, CPM, Little Rock, Arkansas

Publication Date: 2013
Softcover, 332 pages
ISBN-10: 1-57203-173-5
ISBN-13: 978-1-57203-173-9

If you like this white paper, you may be interested in our collection of white papers covering important and tending topics.

By Eric Storey, CPM

Internal Rate of Return (IRR) can be a difficult concept to grasp.  But, it is also a powerful financial tool that is widely used for real estate investment analysis.  Even if a property manager never needs to calculate the IRR for a property, it is critical that he or she understands what IRR is, and how it can impact the management of a property.  Understanding IRR is essential in meeting the owner’s goal on their real estate investment.

This white paper helps de-mystify the concept by providing a simple explanation of what IRR is and how it is used. It also covers some of the common misconceptions and misuses of IRR.  While not intended to make someone a financial wizard, or even an expert on IRR, it does explain how IRR is used in making sound financial decisions. Using examples, and plain language, this publication will give you the insight into why IRR is such an important financial tool.

Copyright: 2016
Format: PDF; 4 pages

Looking for a user-friendly tool to perform financial analyses for your properties? The IREM Financial Analysis Spreadsheet performs cash flow analyses based on property performance and ownership goals and objectives. The spreadsheet will automatically:

• Amortize and analyze property loans and leverage position
• Forecast net operating income (NOI) based on property income and expenses
• Calculate cash-on-cash return, value enhancement, net present value (NPV) and internal rate of return (IRR)
• Create T-bars to visualize income stream
• Establish market rental rates using a comparison grid
• Determine net effective rental rates
• Compute time value of money variables such as present value, future value, and payment
• Conduct a discounted cash flow analysis

New! Your toolkit includes a thorough User Guide and three narrated video tutorials that walk-through how to use the major functions of the tool. Be sure to review these for all technical requirements and instructions for usage.

ZIP File
Contains XLS Spreadsheet, PDF User Guide, and MP4 Tutorials.
ISBN: n/a

If you like this white paper, you may be interested in our collection of white papers covering important and tending topics.

By John Salustri

This white paper, first in a new series on asset management, explores the complex and shifting relationship between the two professions and brings to light some of the reasons for this current state of confusion.

You will learn:

• The drivers of change and growth in property management
• How respondents to the 2015 IREM Job Analysis Survey see their professional roles
• Why some practitioners are confused about where property management ends and asset management begins
• What truly defines a property manager and what defines an asset manager
• What industry practitioners are saying about the shifting dynamic between the two disciplines

In addition to the 2015 IREM Job Analysis Survey, the white paper calls upon interviews with professionals from a variety of fields: asset management, direct property management, third-party fee-based property management, executive recruitment, and academia.

Copyright: 2015
Format: PDF; 9 pages

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The best business decisions are based on a thorough understanding of the facts. The purpose of the IREM Income/Expense Analysis program is to put the important financial facts of property operation at the fingertips of the in­vestor, the developer, the appraiser, the lender and, above all, the property manager.

This report contains the overall national data and trends for each of the five individual re­search studies. The operational experiences of over 10,700 buildings and developments have been analyzed and compiled into summary data covering:

• Conventional Apartments;
• Office Buildings;
• Shopping Centers;
• Federally Assisted Apartments; and
• Condominiums, Cooperatives & Planned Unit Developments.

The Income/Expense Analysis publications of IREM are a valuable resource with a wide range of applications, including:

• Budget preparation
• Feasibility studies for developments and improvements
• Market analysis
• Appraisals
• Loan requests
• Property performance analysis
• Identifying opportunities for improving efficiencies
• Acquisition/disposition due diligence

Softcover: 94 pages
ISBN: 978-1-57203-271-2

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