Making it in Real Estate: Starting Out as a Developer

Making it in Real Estate: Starting Out as a Developer

by John McNellis
Making it in Real Estate: Starting Out as a Developer

Making it in Real Estate: Starting Out as a Developer

by John McNellis

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Overview

Expanded and updated with 20 new chapters about leadership, investment decisions, and the regulatory environment, plus guidance on how to survive an economic downturn. With over 35 years in commercial real estate, author John McNellis has taken the best-selling first edition of Making It in Real Estate and expanded it with new content, market-specific solutions, and real-life strategies to start and grow your real estate portfolio. Like a meeting over coffee with a mentor, McNellis entertains with witty anecdotes and wisdom on how to take advantage of opportunities and avoid pitfalls. Learn the ins and outs of financing; how to work with architects, brokers, and other professionals; and how to make a good deal and win approval for your project. Listed as required reading for students majoring in real estate at universities across the nation, Making it in Real Estate: Starting Out as a Developer, Second Edition, has readers calling it "the best book on development . . . that accurately describes the true upside, downside, and work involved" in commercial real estate.

Product Details

ISBN-13: 9780874204582
Publisher: Urban Land Institute
Publication date: 10/12/2020
Sold by: Barnes & Noble
Format: eBook
Pages: 180
Sales rank: 258,265
File size: 2 MB

About the Author

John McNellis is a principal with McNellis Partners, a commercial development firm he cofounded in the mid-1980s in northern California. After graduating from the University of California, Berkeley, and the University of California Hastings College of the Law, McNellis began his career as a lawyer in San Francisco. Always more interested in business than in law, he started fixing up houses in his spare time and gradually worked his way to more complicated projects. At 28, he formed a partnership with an older client and began his career as a retail developer.

Table of Contents

Preface vii

Part 1 Making It in Real Estate

1 Quit Your Job? 3

2 Doing It on the Side 6

3 Playing Small Ball 9

4 Specialize or Die 12

5 Bromancing the Deal 15

6 Size Matters 18

7 Buying It Right 21

8 Desperately Chasing Yield 24

9 Liquid Assets 27

10 A Little Help from My Friends 30

11 Fickle Shades of Green 33

12 Autographing the Deal 36

13 The Politics of It All 39

14 Decked by City Hall? 42

15 Sell versus Hold 45

16 Lies, Damn Lies, and the IRR 48

17 Working without a Net Worth 51

18 Monogamy and Its Downside 54

19 Let Us Now Praise Famous Architects 57

20 General Contractor Relativity 60

21 Sex, Lies, and Off-Market Deals 63

22 Do As I Say 66

23 The Back of a Napkin 69

24 No Partners, No Problems 72

25 The "NTM" 76

26 Understating Your Net Worth 79

27 Leaseholds: Buy 'Em Where They Ain't 82

28 Your Empire: Build It or Buy It? 86

29 The 1031 Exchange: Panacea or Placebo? 89

30 The Only Free Cheese Is in a Mouse Trap 92

31 Game of Phones 95

32 Winter Is Coming 98

33 Winter Is Here 101

34 There's No Place Like Home 105

35 Investing in Accidental Assets 108

36 Retail's Wholesale Risks Ill

37 Environmental Contamination: Hazardous to Your Health?... 119

38 A Sod Roof Too Far 124

39 Money 127

40 Abandon All Hope 131

Part 2 Making It in Life

41 How to Keep Friends and Influence No One 137

42 Commencement Address 140

43 Your Obituary 145

44 Seeing the Forest for the Trees 148

45 In Memoriam: fames J. Curtis III 151

46 Postscript 154

Glossary: Real Estate Jargon Demystified 157

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