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Harvard Can't Teach What You Learn from the Streets

Autor Samuel Liebman
en Paperback – 26 ian 2022

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 no holds barred 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 pro's use, and what goes on in the back room.
  • How to uncover the "Inside Story" 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.

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Specificații

ISBN-13: 9781641466523
ISBN-10: 1641466529
Pagini: 367
Dimensiuni: 152 x 228 mm
Greutate: 0.49 kg
Editura: Made for Success Publishing

Cuprins

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



Notă biografică

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!