|Creating and Growing Real Estate Wealth||
Creating and Growing Real Estate Wealth
There are plenty of "get rich quick in real estate" books: this is not one of them. Creating and Growing Real Estate Wealth about finding the right path to success and building a sustained lifetime of success. Author William J. Poorvu, is a lifelong real estate entrepreneur and consultant and the Harvard Business School's instructor in real estate. Drawing on his experience working with hundreds of real estate entrepreneurs, Poorvu illuminates every stage of "life" in real estate: creating wealth, growing it, and using it successfully. Poorvu reveals the milestones, pitfalls, and rewards associated with real estate entrepreneurship, offering powerful insight into the challenges and opportunities that will be faced as one starts out... scales up... rides the industry's cyclical waves of change... and then leverages, shares, or passes along the wealth created. Poorvu shows how to choose the entry points and roles; how to spot and respond to opportunities; and how to lead a real estate business to success. Included are dozens of case studies, hands-on checklists, and questions to guide the choices and offer unparalleled insight into how the real estate industry really works.
Detailed guidance on how to make a fortune in real estate whether the market is going up or down.
About the Author x
Introduction: The Many Paths to Success 1
PART I: Starting Out 7
Chapter 1: The Starting Line 9
Chapter 2: Finding a Focus 25
Chapter 3: Moguls in the Making 45
PART II: Scaling Up 59
Chapter 4: Five Good Questions 61
Chapter 5: Good Moves 77
Chapter 6: Grand Visions 101
PART III: Hedging Your Bets 123
Chapter 7: X Factors 125
Chapter 8: Broken-Field Running 141
Chapter 9: Moving the Fleet 165
PART IV: Taking Stock 193
Chapter 10: Your Business and You 195
Chapter 11: Your Business and Your Family 209
Chapter 12: Looking Forward, Looking Back 229
“This well-organized book shows what a typical life in real estate is like so that newcomers can decide whether the field is right for them. It also offers advice on how to grow real estate investments for people who are already in the industry. Poorvu includes a variety of real world stories about people and their career experiences to make for an interesting read with a practical edge.”
“This new book by Bill Poorvu trumps any real estate book you've ever read.”
-James Grant, editor of Grant's Interest Rate Observer
There are plenty of “get rich quick in real estate” books. This is not one of them.
Your guide, William Poorvu, is a lifelong real estate investor and consultant, and former head of the real estate program at Harvard Business School. Drawing on his personal experience-and hundreds of interviews with many of the most successful real estate investors and entrepreneurs-Poorvu illuminates every stage of your “life” in real estate: creating wealth, growing it, and
managing it successfully. He reveals the milestones, pitfalls, and rewards associated with real estate investing, offering powerful insight into the challenges and opportunities you'll face as you start out...scale up...ride the industry's cyclical waves and then leverage, share, or pass along the wealth you've created.
This book contains dozens of real life personal stories, hands-on checklists, and questions to guide your decisions...and it delivers unparalleled insight into how the real estate industry
• Be strategic: choose your best route into the business
Define your successful real estate career, and learn how to make it a reality
•Build your foundation: your first job, your first deal
Spot a great opportunity to add value, and jump on it
• Scale up: build and sustain your success
Hire a great team, manage them successfully, and find the capital you need to grow
• Survive the downturns: be flexible and nimble
Recognize new realities, adapt to them, and uncover the opportunities they create
• Take stock: make the most of your success
Balance your business, wealth, and family
William J. Poorvu managed the real estate program and taught real estate courses at Harvard Business School for 35 years. He has personally trained many of today's most successful leaders in the real estate industry. He is a successful real estate entrepreneur himself and also a professional investor, both on his own behalf and for various endowment boards on which he serves. He also authored The Real Estate Game: The Intelligent Guide to Decision-Making and Investment.