The Real Estate Game

Zusatztext Richard B. Peiser Michael D. Spear Professor of Real Estate Development! Harvard University Graduate School of Design After more than thirty years at Harvard Business School! Bill Poorvu has trained many of the most successful real estate developers and managers in the business. With war stories that are hard to put down! The Real Estate Game reminds everyone from beginners to the most jaded professionals about the pitfalls to look for and how to avoid them. Informationen zum Autor William J. Poorvu is a successful real estate investor and developer and heads the real estate program at the Harvard Business School as Class of 1961 Adjunct Professor of Entrepreneurship. His research has been in the areas of the entrepreneurial process in real estate companies, international real estate and capital formation for real estate. From 1968 to 1977, Poorvu was Senior Lecturer for Harvard Graduate School of Design's Department of City Planning. Poorvu has been managing partner in a number of real estate companies and Chairman of the Board of Advisors for The Baupost Group, L.L.C., an investment firm. He is a Trustee/Director of the Massachusetts Financial Services Group of Mutual Funds and a Trustee of CBL & Associates Properties, Inc. He was formerly a director of Connecticut General Mortgage and Realty Investments, Trammell Crow Realty Investors, and Sonesta International Corporation. He was a member of the Yale University investment committee. Poorvu has also served as a consultant for various organizations in the private and public sectors. In 1963, Poorvu became one of the founders and owners of WCVB-TV, Channel 5 in Boston, where he served as Treasurer, Vice-Chairman, President and Director until the sale of the station in 1982. Poorvu serves on the board of numerous nonprofit and community groups including the Boston Symphony Orchestra, the Isabella Stewart Gardner Museum, and the National Public Radio Foundation. In addition to authoring many articles in various professional publications, Poorvu is the author of Real Estate: A Case Study Approach (Prentice Hall, 1992) and The Real Estate Challenge: Capitalizing on Change (Prentice Hall, 1996). Poorvu earned his BA from Yale University in 1956 and his MBA from Harvard University in 1958. He currently lives in Cambridge, Massachusetts. Klappentext From a Harvard Business School professor comes a concise, accessible, state-of-the-art guide to developing and investing in real estate. Leseprobe INTRODUCTION This is a book about the real estate business, and how you can increase your chances of being successful in it. The book explains, in simple terms, how you can take advantage of emerging opportunities in the property market when the capital markets -- and the world in general -- are going through dramatic changes. It should help you whether you're buying a small apartment house, or are involved in a large, multi-use project. The Real Estate Game uses the analogy of a game to capture some of the complex and unpredictable interactions of the real estate field; it also lays out the "rules" that shape the game. It identifies the key players, and how they play their parts. It also follows the game through the distinct stages of a property's life cycle, from the initial conception of a project to its "harvesting." It uses a series of recurring case studies to illustrate key points -- and, I hope, to make the concepts more human and interesting by placing them in a practical, real-life context. The book also draws on my experiences as a teacher and a practitioner in the field of real estate. For the past three decades, I've taught the real estate course at the Harvard Business School. This is an elective class for second-year students, which means that since they don't have to be there, they must have some enthusiasm for the field. In the initial...

Richard B. Peiser Michael D. Spear Professor of Real Estate Development, Harvard University Graduate School of Design After more than thirty years at Harvard Business School, Bill Poorvu has trained many of the most successful real estate developers and managers in the business. With war stories that are hard to put down, The Real Estate Game reminds everyone from beginners to the most jaded professionals about the pitfalls to look for and how to avoid them.

Autorentext

William J. Poorvu is a successful real estate investor and developer and heads the real estate program at the Harvard Business School as Class of 1961 Adjunct Professor of Entrepreneurship. His research has been in the areas of the entrepreneurial process in real estate companies, international real estate and capital formation for real estate. From 1968 to 1977, Poorvu was Senior Lecturer for Harvard Graduate School of Design's Department of City Planning.
Poorvu has been managing partner in a number of real estate companies and Chairman of the Board of Advisors for The Baupost Group, L.L.C., an investment firm. He is a Trustee/Director of the Massachusetts Financial Services Group of Mutual Funds and a Trustee of CBL & Associates Properties, Inc. He was formerly a director of Connecticut General Mortgage and Realty Investments, Trammell Crow Realty Investors, and Sonesta International Corporation. He was a member of the Yale University investment committee. Poorvu has also served as a consultant for various organizations in the private and public sectors.
In 1963, Poorvu became one of the founders and owners of WCVB-TV, Channel 5 in Boston, where he served as Treasurer, Vice-Chairman, President and Director until the sale of the station in 1982.
Poorvu serves on the board of numerous nonprofit and community groups including the Boston Symphony Orchestra, the Isabella Stewart Gardner Museum, and the National Public Radio Foundation.
In addition to authoring many articles in various professional publications, Poorvu is the author of Real Estate: A Case Study Approach (Prentice Hall, 1992) and The Real Estate Challenge: Capitalizing on Change (Prentice Hall, 1996).
Poorvu earned his BA from Yale University in 1956 and his MBA from Harvard University in 1958. He currently lives in Cambridge, Massachusetts.

Klappentext

From a Harvard Business School professor comes a concise, accessible, state-of-the-art guide to developing and investing in real estate.

Zusammenfassung
The Real Estate Game is a comprehensive guide to successful real estate investment from one of the masters in the field. Drawing upon four decades of experience developing, owning, and managing properties and on almost thirty years of teaching at the Harvard Business School, William J. Poorvu offers an insider's perspective on how to make smart decisions about real estate.

The real estate “game” is played by people, and it’s the stories of real people that make Poorvu’s introduction to the industry colorful and interesting. You will meet players ranging from real estate moguls to small-scale developers to individual investors in exotic investment instruments. Their stories evolve throughout the book and illustrate how these people—with all their complicated needs, talents, and motives—fit into the larger process and context.

In clear and nontechnical language, Poorvu explains how variables—players, properties, capital markets, and the external environment—come together to influence the shape and outcome of a real estate deal. He explains the time frame for different kinds of real estate investments and walks the reader through the key “periods of play” in the real estate game: concept, commitment, development, operation, reward, and reinvestment.

The Real Estate Game introduces a simple but powerful “back-of-the-envelope” technique for analyzing the financial implications of a potential deal. Using this tool and others, Poorvu shows readers how to use direct investmen…