Real Estate Development

  1. Stage 8: Asset Management and Disposition
    1. Property Operations and Management
      1. Hiring a Property Manager
        1. Selection Criteria
          1. Experience and Qualifications
            1. Fee Structure
              1. Service Offerings
              2. Contract Terms
                1. Management Agreement
                  1. Performance Standards
                    1. Reporting Requirements
                    2. Transition Planning
                    3. Budgeting and Financial Reporting
                      1. Operating Budgets
                        1. Revenue Projections
                          1. Expense Budgets
                            1. Capital Budgets
                            2. Monthly and Annual Reports
                              1. Financial Statements
                                1. Variance Reports
                                  1. Market Updates
                                  2. Cash Management
                                  3. Capital Improvement Planning
                                    1. Reserve Studies
                                      1. Component Life Analysis
                                        1. Replacement Schedules
                                          1. Funding Requirements
                                          2. Project Implementation
                                            1. Contractor Selection
                                              1. Project Management
                                                1. Budget Control
                                                2. Value Enhancement Projects
                                                3. Tenant Relations and Retention
                                                  1. Communication Strategies
                                                    1. Regular Updates
                                                      1. Feedback Systems
                                                      2. Lease Renewal Programs
                                                        1. Renewal Incentives
                                                          1. Market Rate Analysis
                                                          2. Tenant Services
                                                            1. Maintenance Response
                                                              1. Amenity Management
                                                          3. Asset Management Strategy
                                                            1. Optimizing Property Performance
                                                              1. Revenue Enhancement
                                                                1. Rent Increases
                                                                  1. Ancillary Income
                                                                    1. Occupancy Optimization
                                                                    2. Expense Management
                                                                      1. Cost Reduction
                                                                        1. Energy Efficiency
                                                                          1. Vendor Management
                                                                          2. Market Positioning
                                                                          3. Refinancing
                                                                            1. Loan Restructuring
                                                                              1. Rate Improvements
                                                                                1. Term Extensions
                                                                                2. Cash-Out Refinance
                                                                                  1. Equity Extraction
                                                                                    1. Reinvestment Strategies
                                                                                    2. Refinancing Timeline
                                                                                    3. Portfolio Management
                                                                                      1. Asset Allocation
                                                                                        1. Geographic Diversification
                                                                                          1. Property Type Mix
                                                                                          2. Hold/Sell Analysis
                                                                                            1. Market Timing
                                                                                              1. Performance Metrics
                                                                                                1. Tax Considerations
                                                                                                2. Acquisition Strategies
                                                                                              2. Disposition Strategy
                                                                                                1. Deciding When to Sell
                                                                                                  1. Market Timing
                                                                                                    1. Market Cycles
                                                                                                      1. Interest Rate Environment
                                                                                                        1. Supply and Demand
                                                                                                        2. Asset Performance Review
                                                                                                          1. Financial Performance
                                                                                                            1. Physical Condition
                                                                                                              1. Market Position
                                                                                                              2. Investment Objectives
                                                                                                              3. The Brokerage and Sales Process
                                                                                                                1. Broker Engagement
                                                                                                                  1. Listing Agreement
                                                                                                                    1. Marketing Strategy
                                                                                                                    2. Marketing the Asset
                                                                                                                      1. Offering Memorandum
                                                                                                                        1. Property Tours
                                                                                                                          1. Due Diligence Materials
                                                                                                                          2. Buyer Qualification
                                                                                                                            1. Negotiation and Closing
                                                                                                                            2. 1031 Exchanges
                                                                                                                              1. Exchange Requirements
                                                                                                                                1. Like-Kind Property
                                                                                                                                  1. Timeline Requirements
                                                                                                                                  2. Replacement Property Identification
                                                                                                                                    1. 45-Day Rule
                                                                                                                                      1. 180-Day Rule
                                                                                                                                      2. Qualified Intermediary
                                                                                                                                        1. Tax Benefits

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                                                                                                                                    8. Stage 7: Marketing, Leasing, and Sales

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                                                                                                                                    10. Advanced Topics in Real Estate Development