Real estate valuation and strategy : a guide for family offices and their advisors

Establish a sound, multi-generational approach to real estate ownership and wealth preservation No facet of a family's investment portfolio is as ubiquitous as real estate. Every successful family is invested in some way. The most savvy investors and their advisors understand the complexity of curating this portfolio and maximizing wealth preservation. Real Estate Valuation and Strategy is the definitive guide for anyone seeking to reduce long-term portfolio risk and enjoy significant tax advantages while preserving and growing wealth. This comprehensive, in-depth guide addresses key real estate investment strategy issues from the perspective of the successful, wealth investor. Providing the knowledge and insights needed to avoid common pitfalls, optimize the property investment cycle, and evaluate holdings from a long-term perspective. One of the leading experts in the field, Dr. John Kilpatrick covers nuances of real estate investing that are rarely presented in one succinct volume: - Key and critical differences among various categories of real estate - Acquisition strategies to uncover hidden wealth or avoid hidden pitfalls - Valuation of long-term holdings, including forest land, ranches, and collectable "trophy" holdings - When and how to use leverage for short- and long-term opportunities - Strategies for joint ventures - Monitoring holdings for early warning signals Whether you're managing your own portfolio or assisting high-net-worth families, Kilpatrick provides tools and information you need to find, manage, and optimize top-tier real estate investments--ensuring that your family or clients thrive now and in the future. Real Estate Valuation and Strategy Title Page Copyright Dedication Contents Acknowledgments Chapter 1 The Real Estate Valuation Cycle Chapter 2 A Simple Real Estate Investment Example Chapter 3 Reflecting on Why We Buy Real Estate Chapter 4 Valuing the Personal Residence Chapter 5 Valuing Rental Property Chapter 6 Approaches to Value Chapter 7 The Paradox of Highest and Best Use Chapter 8 Various Other Tools and Techniques Chapter 9 Valuation Quirks and Traps Chapter 10 A Deep Dive into the Sales Comparison Approach: Residential Chapter 11 A Deep Dive into the Sales Comparison Approach: Income Properties Chapter 12 Income Approaches to Value Chapter 13 Reproduction Cost Analysis Chapter 14 Reconciling the Various Approaches Chapter 15 Valuing Raw Land for Income or Development Chapter 16 Valuing Raw Land for Collectible or Personal Use Chapter 17 Real Estate and the Family Business Chapter 18 Brownfields Chapter 19 REITs, 1031s, Limited Partnership Interests, and Tenancy in Common Chapter 20 Special Topics Frequently Encountered by Family Offices Chapter 21 Some Final Points to Ponder Notes Index Real Estate Valuation and Strategy tackles real estate investment strategy issues families most commonly encounter, providing the knowledge, insights, and strategies you need to avoid the most common pitfalls. It explains how real estate can be used as an investment, different ways to understand real estate as a high-level investment, and how real estate differs from other assets. You'll learn all there is to know about: Various types of real estate investments and how to evaluate each kind to meet your specific goals; Different approaches for quantifying value, as used by different parts of the real estate ecosystem; Valuing various kinds of property and the special challenges that come with each one; Alternative investment approaches, including sales comparison, income-based approaches, and reproduction cost analysis. With Real Estate Valuation and Strategy you have what you need to ensure success when it comes to integrating with the family business; valuing, remediating, and selling brownfield properties; and REITS and other ownership instruments **Establish a sound, multi-generational approach to real estate ownership and wealth preservation**__Real Estate Valuation and Strategy__