| Preface | p. xi |
| Downloadable Forms and Excel Templates in This Book | p. xii |
| Introduction: The Four Ways to Make Money in Real Estate | p. xv |
| How to Analyze A Potential Real Estate Deal | |
| Do Your Homework: How to Gather the Data Needed to Make an Investment Decision | p. 3 |
| Property-Related Data | p. 4 |
| Ask to See the Leases | p. 4 |
| Look at the Property Tax Bill | p. 4 |
| Spot-check Utility Bills | p. 4 |
| Ask to See the Appropriate Sections of the Seller's Tax Return | p. 5 |
| Recite the Representations about the Leases and the Schedule of Rent Income in the Offer to Purchase | p. 5 |
| Market-Related Data | p. 6 |
| Investigate Comparable Sales | p. 6 |
| Look for Lease Rates and Operating Expense Data | p. 7 |
| Find Out about Local Capitalization Rates | p. 7 |
| Financial Detective Work Before You Buy: Finding the Truth Behind What the Seller Is Telling You | p. 9 |
| Basic Definitions | p. 10 |
| Analyzing Similar Properties | p. 12 |
| Comparing Expense Ratios | p. 16 |
| The Annual Property Operating Data Form | p. 19 |
| How the "Time Value of Money" Should Influence Your Real Estate Investing Decisions | p. 27 |
| Real Estate Applications | p. 28 |
| Using Excel to Make Real Estate Calculations | p. 30 |
| What Every Investor Needs to Know About Cash Flow: Calculating the Present Value | p. 34 |
| Evaluating Leases | p. 39 |
| Mortgage Calculations | p. 44 |
| How to Estimate What an Income Property Is Really Worth | p. 49 |
| Cash Flow and Taxable Income | p. 52 |
| Taxable Income or Loss | p. 52 |
| Cash Flow before Taxes | p. 54 |
| Cash Flow after Taxes | p. 56 |
| A Case Study | p. 56 |
| Resale--How to Forecast the Appreciation Potential for a Property | p. 62 |
| Measuring the Return on a Real Estate Investment | p. 71 |
| Payback Period, Cash-on-Cash Return, Gross Rent Multiplier, Debt Coverage Ratio | p. 71 |
| Capitalization Rate | p. 75 |
| Discounted Cash Flow | p. 76 |
| Internal Rate of Return | p. 80 |
| Thirty-Seven Calculations Every Real Estate Investor Needs to Know | |
| Calculation 1: Simple Interest | p. 93 |
| Calculation 2: Compound Interest | p. 96 |
| Calculation 3: Rule of 72s | p. 102 |
| Calculation 4: Present Value of a Future Cash Flow | p. 104 |
| Calculation 5: Gross Rent Multiplier | p. 108 |
| Calculation 6: Gross Scheduled Income (Potential Gross Income) | p. 111 |
| Calculation 7: Vacancy and Credit Loss | p. 114 |
| Calculation 8: Gross Operating Income (Effective Gross Income) | p. 118 |
| Calculation 9: Net Operating Income | p. 122 |
| Calculation 10: Capitalization Rate | p. 128 |
| Calculation 11: Net Income Multiplier | p. 134 |
| Calculation 12: Taxable Income | p. 138 |
| Calculation 13: Cash Flow | p. 149 |
| Calculation 14: Cash-on-Cash Return | p. 155 |
| Calculation 15: Sale Proceeds | p. 160 |
| Calculation 16: Discounted Cash Flow | p. 165 |
| Calculation 17: Net Present Value | p. 171 |
| Calculation 18: Profitability Index | p. 177 |
| Calculation 19: Internal Rate of Return | p. 180 |
| Calculation 20: Price, Income, and Expenses per Unit | p. 185 |
| Calculation 21: Price, Income, and Expenses per Square Foot | p. 188 |
| Calculation 22: Operating Expense Ratio | p. 192 |
| Calculation 23: Debt Coverage Ratio | p. 196 |
| Calculation 24: Break-Even Ratio | p. 200 |
| Calculation 25: Return on Equity | p. 203 |
| Calculation 26: Loan-to-Value Ratio | p. 206 |
| Calculation 27: Points | p. 211 |
| Calculation 28: Mortgage Payment/Mortgage Constant | p. 214 |
| Calculation 29: Principal Balance/Balloon Payment | p. 218 |
| Calculation 30: Principal and Interest per Period | p. 223 |
| Calculation 31: Maximum Loan Amount | p. 227 |
| Calculation 32: Assessed Value, Property Taxes, and Value Indicated by Assessment | p. 231 |
| Calculation 33: Adjusted Basis | p. 235 |
| Calculation 34: Depreciation | p. 238 |
| Calculation 35: Gain on Sale | p. 242 |
| Calculation 36: Land Measurements | p. 245 |
| Calculation 37: Building Measurements--Gross Building Area, Usable Square Footage, Rentable Square Footage, Loss Ratio, Net Rentable Area | p. 249 |
| Appendix | p. 253 |
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