This book prepares readers to understand the risks and rewards associated with investing in and financing both residential and commercial real estate. Concepts and techniques included in the chapters and problem sets are used in many careers related to real estate. These include

investing, development financing, appraising, consulting, managing real estate portfolios, leasing, managing property, analyzing site locations, managing corporate real estate, and managing real estate funds. This material is also relevant to individuals who want to better understand real estate when making their own personal investment and financing decisions. The turmoil in world financial markets during the late 2000s, which was closely tied to events in the real estate market, suggests that investors, lenders, and others who participate in the real estate market need to better understand how to evaluate the risk and return associated with the various ways of investing and lending. This requires an understanding of the legal issues that can impact the rights of lenders and investors, thecharacteristics of the various vehicles for lending and investing in real estate, the economic benefits of loans and investments, and how local economies may affect the investment performance of properties as well as the goals of lenders and investors.

这本书使读者了解投资和融资住宅和商业房地产的风险和回报。本章和习题集中包含的概念和技巧在许多与房地产相关的职业中都有使用。这些包括投资、开发融资、评估、咨询、房地产投资组合管理、租赁、物业管理、场地位置分析、企业房地产管理和房地产基金管理。这些材料也适用于那些想在自己做投资和融资决策时更好地了解房地产的个人。21世纪末世界金融市场的动荡与房地产市场的事件密切相关，表明投资者、贷款人和其他参与房地产市场的人需要更好地了解如何评估与各种投资和贷款方式相关的风险和回报。这就需要了解可能影响贷款人和投资者权利的法律问题，房地产贷款和投资的各种工具的特点，贷款和投资的经济效益，以及地方经济如何影响房地产的投资绩效以及贷款人的目标投资者。