Customer Reviews

The Real Estate Developer's Handbook: How to Set Up, Operate, and Manage a Financially Successful Real Estate Development With Companion CD-ROM

5 star:		(13)
4 star:		(2)
3 star:		(2)
2 star:		(1)
1 star:		(3)

 

 

Tanya Davis covers everything from basic business, to the nuts and bolts of running a real estate development. She gives you all the "have-to-do" items as well as all the things you should avoid or watch out for. (Loved the list of negotiation tactics that can get in the way! They apply to lots of conversations outside of business.)

I liked the easy to navigate chapters and headings, and the glossary was excellent, but my favorite things about the book are all the checklists and examples that she gives. They really make you focus on each aspect of the deal: your personal skills, the business atmosphere you're operating in, and concrete details about the property you're considering. It's actually a bit intimidating. They do help you take a hard look at all aspects of your project, though, and that is important.

Unfortunately, the checklists don't have a separate listing in the table of contents or index. They are set off in grey boxes, you can find them if you flip around, but it's kind of a pain if you are looking for a specific one and can't remember which section it's in.

That's one reason I wouldn't buy this book just to dip into as a reference. I think it would be less effective that way, anyway. By reading it from beginning to end you walk through the process of starting a real estate development venture, without any of the risks of actually bidding on property. It allows you to get an overview of what needs to happen, as well as what the pitfalls are.

Normally, I rate a how-to book based one whether it makes me feel like I could get the job done. This book definitely left me with the knowledge that this job is not for me. Not because the book couldn't explain it, but there were aspects of the job I'm just not suited for. So I initially figured I'd give it a 4. However, after thinking it over, I realized that when there is a lot of money at stake, I don't want a book that is going to make it seem to easy. That's how people get in over their heads. So this book gets a 5, because if you are thinking of getting into real estate development, it will help you decide if you have what it takes.

From a distance, Real Estate Development would seem to be a difficult industry to "break into" for those with few contacts or experience. The Real Estate Developers Handbook dispels these myths by providing an inside look at what it takes to get in and make money in the field. As an alternative to years spent working up through the ranks, the author's provide a fast track into the world of Real Estate Development by taking you through all the steps in the process: from locating land to working with government officials permitting to construction.

Often the best advice is provided by those who have made mistakes along the way. Davis saves you money and time by identifying potential hazards and pitfalls in the industry. While the subject is complex, the material is broken down in a manner that is easily understood, even by those without an extensive background in the field. Upfront, the author discusses personality traits of successful Real Estate Developers and gives a description of actual job functions. The case studies scattered throughout give specific examples from experts in the field.

Be warned, this is not a book for those with a passing interest in the field - it goes into great detail. Demographics, financials, due diligence and market trends don't make for an exciting beach read, but for those with a serious desire to enter into Real Estate Development, it leaves no stone unturned and is a fantastic "go to" guide.

Good introduction to the basics of real estate development, and great for getting your head around basic concepts. Fantastic example spreadsheets, business plan, and contract docs.

On the negative, and I am being very picky: text is huge--they made the book much thicker than it needed to be; more content would have been great. One or two example proformas don,t work, or at least I could not make sense of them--maybe they were simplified and removed some information? On the same note, more in depth examples would be great. Lastly, it is written by lawyers and it is approached from a very litigious angle; more attention should have been given to how one should engage design professionals and contractors, not just getting in bed with a lawyer.

In closing, I still highly recommend this book to anyone taking on a development endeavor--it appears to lay out the basic tools for a great beginning.

Successful real estate developers are usually rich; but for every success story there's the story of those who run out of cash and fail. So any collection catering to real estate developers or investors will relish The Real Estate Developer's Handbook, a practical guide to cash flow specific to the real estate industry. From establishing a small real estate development firm and understanding principles of cash flow as they relate specifically to real estate industry needs and changes to increasing success, an accompanying cd-rom enhances understanding and implementation of advanced real estate topics: perfect for any collection catering to real estate professionals who would strike out on their own.

I don't know if the other commenters are planted, or have no experience in real estate development. Just from the table of contents, you can easily see that this book takes a very complicated (and deserving complicated) subject and try's to dumb it down and make it a feel good "you-can-do-it-to" matter. Development is complicated, and plenty of people have lost & gained millions doing it. Anyone venturing to enter this industry should not start without proper education/training/experience. I recommend finding refuge in the Urban Land Institute materials and other trade associations.

With the proliferation and popularity of shows dedicated to real-estate pros and real estate development, there is an ever-growing audience of people wondering how to break into that same field. This book provides an outstanding overview of real estate development, and should be found on the desk of anyone even considering entering this field. This well-written treatise on real estate development explains all the necessary skills and possible pitfalls for a would-be developer, and helps explain the behind-the-scenes work that characterizes most successful real estate deals.

Throughout the book, Davis stresses the need for drive, determination, and tenacity. She does not gloss over the possibility of disaster for those who are not prepared to dedicate the necessary time and attention to keep their projects moving forward, but she makes it clear that the rewards for that tenacity can be great. By presenting such an honest view of real estate development, Davis does a service to the industry by hopefully convincing some people that they should limit their involvement to real estate investment rather than development.

I would highly recommend this book to anyone considering a new career in real estate development, and recommend they read it ready to honestly assess their ability to cope with the pitfalls of the industry. All-in-all, this book is a must-have for anyone interested in real estate development.

This book covers almost every facet of what being a real estate developer entails, from examining yourself to see if you possess the necessary characteristics of a developer to how to successfully operate your business once it's up and running. The book essentially serves as a step by step guide of how to get involved with real estate development (there are many ways, ranging from obvious choices like multi-unit buildings to more subtle opportunities such as developing warehouse distribution buildings). I found the sections on preparation particularly helpful to me. Though becoming involved with real estate development is obviously not an easy venture, I was surprised to learn just how much pre-preparation is required if success is to be achieved. The author did a phenomenal job of walking me through this preliminary process step by step, from the initial research phase to the creation of a top notch business plan (including how to project cash flow).

I also really benefited from the section that lists many of the real estate development educational programs across the country. The author did a great job of compiling links for many schools in the United States (along with several international schools) that offer programs or training in the field of real estate development. I also thought that the sample worksheets designed to track and record startup costs and other financial information was helpful. My only complaint with the book (which is a very minor one compared to all of the useful information contained in the book) is that I wish there would have been a few more detailed ideas on how to actually produce the money to invest in your first development project. There were some ideas in a couple of chapters (such as using a bank or even money from a savings account), but I would have loved to see a chapter dedicated solely to how to specifically approach the initial money-raising phase of launching a successful career in real estate development.

This book is essentially a step by step guide as to how one can enter the real estate development universe. It outlines the various opportunities available and the processes through which a beginning developer can systematically approach the onslaught of obstacles he or she will encounter throughout the development process. The beneficial aspect of this book is that it provides a birds eye launch point from which a person can prepare for and begin to research the intricacies of what is an incredibly complex process. On the other hand, I would argue that the book borders on being uninformative. While I did not expect a comprehensive guide to a successful development, I found the content to be lacking actual substance even short what I would expect from an introductory level text. The author writes the book as if one could carry out the process simply by bringing the book with them as a checklist. However, I think the best use of my time would have been to simply write a list of topics touched upon so as to seek out other books that more comprehensively address those points. But, as I said initially, this book is a fine introduction to real estate development if you are simply trying to understand what is involved in the process.

Upon first examination, the book is very well organized. The table of contents is easy to read, making the book easy to navigate. The language of the book is simple enough and gets point across. Overall, the book flows well. There are also many examples of sample contracts, checklists, financial statements, and other documents that act as helpful aids throughout the book. I especially found the glossary a wonderful bonus. However, the book does a bad job with road mapping which makes it hard to follow at times. Sometimes the author outlines steps, but you forget if you've read a new section or still on one of the steps because there's no numbers or any signposting indications in headings. Much to my dismay, case studies do not go into detail on how person came about his suggestions. Instead, they seem more like impressive bios of the showcased realtor. Emphasis should be put more on specific instances, for example when Craig realized real estate involved politics, rather than how many lots he's got developing in Oregon. (Craig does give a short anecdote at the very end of his case study, but it's not followed by any message. I guess you're supposed to figure it out yourself.) A long list of advice quoted in paragraph form (Donna Jones' bio is replaced by a rant of her regrets without any specifics for support) as a whole case study doesn't help much either.

Case studies aside, the substance of the book is exemplary. The reader will get the basics of business management, law, finance, and marketing without ever having to sit in one of the undergraduate-level business classes. Plus you get to learn it in relation to what you're actually going to be needing. "Traits of developer" (drive to succeed, flexibility, preparedness, attention to detail, able to accept disappointment, common sense, and ability to continue learning knowing that you're not perfect) and "personal skills for success" (being schedule-oriented, treating public with respect, being able to negotiate, assessing long-term results) can be applied to any field, and general success in life. The persuasion strategies given throughout the book can probably come in handy elsewhere too. Of course, specialized skills (marketing, finance, basics in architecture, etc.) are also included.

After reading this book, should have pretty good idea of what real estate developing is and how to do it. The book claims to save time and money spent on years of training and education (70% of learning) by revealing the secrets of real estate. I'm not sure how secretive these skills are, but you will certainly save tons of time and money from trying to figure this all out by yourself. The book not only gives you the basics, but also a good in-depth knowledge of real estate development. If you're serious about real estate, this book is a great way to start. If you're not, buy it anyway; the skills and tips here can be well applied to many other aspects of life. And to top it off, buying the book will save animals. You can feel that you contributed to a good cause because a portion of your purchase will go to The Humane Society of United States).

The Real Estate Developer's Handbook: How to Set Up, Operate, and Manage a Financially Successful Real Estate Development by Tanya Davis is a thorough and serious book which presents material, which would take a novice developer seasons to learn. First of all, the author explains what developers do and outlines the traits that developers should possess to be successful in the business. How to create a business plan, market study, and understand the impact that demographic trends have on real estate development are some of the topics that the author addresses in this book.
Any individual or corporation working in any aspect of real estate development whether it is predevelopment, operations, management or finance could benefit from this book. The author provides scenarios that a real estate developer may encounter with suggestions for possible resolutions. Lists of real estate opportunities and suggestions on how to describe products and services and set feasibility studies are furnished as well. The end is not neglected because Tanya Davis includes a section on how to manage a property once it has been developed or redeveloped.
Local regulations, community and political issues are considered in a comprehensive objective manner. One completes the book with a better understanding of real estate development and respect for the role that developers have in all aspects of community life whether it is environmental, social, financial or political. I give the book five out of five stars.