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AN INTRODUCTION TO REAL ESTATE INVESTMENT ANALYSIS: A TOOL KIT REFERENCE FOR PRIVATE INVESTORS

Our economic outlook has changed little over the past two years. Following the severe recession ending 2009, we have worked with the expectation that the overall economy will follow a bumpy and slow path with a positive trend. The recent path has certainly been bumpy, but the positive trend holds true. Our current expectation is that this pattern will continue as the environment stabilizes. One of the most interesting suggestions might be the idea that US commercial real estate is inexpensive on a relative basis. Early in 2011, some people, who watched core cap rates decline, made the claim that. | AN INTRODUCTION TO REAL ESTATE INVESTMENT ANALYSIS A TOOL KIT REFERENCE FOR PRIVATE INVESTORS Phil Thompson - Business Lawyer Corporate Counsel - www.thompsonlaw.ca Rules of thumb and financial analysis tools are critical for real estate professionals. They provide the basic building blocks needed to understand appraisals and valuations to compare investment opportunities to monitor and manage investment results to set asking prices and to negotiate various real estate based transactions including purchase and sale agreements mortgages and leases . These tools can be as simple or as sophisticated as you want them to be. The purpose of this article is to provide a basic introduction to real estate investment analysis tools for private investors so you can consider how they might apply to your investment activities can appreciate their meaning and significance if they come up in your business dealings and can have glossary to refer to as needed. Please note that the tools discussed in this article apply mostly to income properties but can apply to vacant land as well. Also while this article focuses on the purchase and sale of real properties many of these tools and concepts can apply to leasing situations and negotiations between landlord and tenant. No Single Right Answer By way of background there are several things you should keep in mind in considering or using these tools There is no such thing as a typical investor. Every investor is unique. Take time to understand your unique requirements and update them from time to time. There is no such thing as a typical property. The great thing about real estate is that every property and every market truly is unique. Again take time to understand the unique attributes of the properties you are considering and revisit them from time to time. Investment value and market value are not the same thing. Investment value is unique to you. Market value is based on the typical investor which we know does not really exist. You .