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Excel for Real Estate

Derek Hutchison, With Distinction – 5/2/2015
Gisela Prudden, With Distinction – 5/3/2015
Jared Ray – 5/3/2015
Joseph Miller, With Distinction – 5/3/2015
Price Peeler – 5/9/2015
Ashley Mashian, With Distinction – 5/11/2015
Nicholas Leone – 5/13/2015
Geoffrey Palmer, With Distinction – 5/15/2015
Joshua Bush, With Distinction – 5/15/2015
Normann Hauck – 5/18/2015
Christopher Contino, With Distinction – 5/19/2015
Stephan C Gaspar, With Distinction – 5/19/2015
Mark Lewis, With Distinction – 5/20/2015
Roman Blum – 5/21/2015
Chris Dodd, With Distinction – 5/25/2015
Kevin Freels – 5/26/2015
Michael Hall, With Distinction – 5/26/2015
Bradley Eral, With Distinction – 5/27/2015
Chris Dodd, With Distinction – 5/27/2015
Joe Dunne – 5/28/2015
Claire Whitesell – 5/30/2015
Thomas Foley, With Distinction – 6/3/2015
Price Peeler, With Distinction – 6/8/2015
Wilford Wong, With Distinction – 6/9/2015
Nicholas Lawrence – 6/11/2015
Erik Moss, With Distinction – 6/14/2015
Arvo Hartikainen, With Distinction – 6/15/2015
Spencer Todd Anderson, With Distinction – 6/16/2015
Tim Barhite, With Distinction – 6/18/2015
Nicholas Lawrence, With Distinction – 6/21/2015
Michael Ocampo – 6/22/2015
Anthony Meo – 6/22/2015
Brian Murphy – 6/25/2015
Maria Kowalski – 6/26/2015
Eric J Jacobson – 6/28/2015
Dean Vidal, With Distinction – 6/29/2015
Maria Kowalski, With Distinction – 6/29/2015
Angelo Evangelatos, With Distinction – 6/30/2015

 

Real Estate Finance

Derek Hutchison, With Distinction – 5/7/2015
Gisela Prudden, With Distinction – 5/7/2015
Joseph Miller, With Distinction – 5/9/2015
Jared Ray, With Distinction – 5/10/2015
Jared Riemer, With Distinction – 5/16/2015
Geoffrey Palmer, With Distinction – 5/16/2015
Sean Mashian, With Distinction – 5/16/2015
Mark Lewis, With Distinction – 5/19/2015
Damian Albrycht, With Distinction – 5/22/2015
Joshua Bush, With Distinction – 5/22/2015
Roman Blum, With Distinction – 5/22/2015
Chris Dodd, With Distinction – 5/25/2015
Kyle McDevitt, With Distinction – 5/27/2015
Michael Hall, With Distinction – 5/27/2015
Bradley Eral, With Distinction – 5/28/2015
David Scott, With Distinction – 6/1/2015
Thomas Foley, With Distinction – 6/3/2015
Joe Dunne – 6/5/2015
Wilford Wong – 6/10/2015
Arvo Hartikainen – 6/15/2015
Sean Hooton, With Distinction – 6/22/2015
Jonathan Cleary, With Distinction – 6/23/2015
Spencer Todd Anderson, With Distinction – 6/23/2015
George Fraser, With Distinction – 6/27/2015
Nicholas Lawrence, With Distinction – 6/27/2015
Maria Kowalski, With Distinction – 6/30/2015

 

Joint Venture Waterfall Modeling

Ryan Lowry, With Distinction – 5/5/2015
Benjamin deLeon, With Distinction – 5/9/2015
Michael Nieliwodski – 5/9/2015
Benjamin Doran – 5/10/2015
Ken Harpster – 5/10/2015
Derek Hutchison, With Distinction – 5/13/2015
Geoffrey Palmer – 5/16/2015
Joseph Miller, With Distinction – 5/16/2015
Gisela Prudden, With Distinction – 5/17/2015
Jared Ray – 5/17/2015
Geoffrey Palmer, With Distinction – 5/18/2015
Christopher A. Aiello – 5/19/2015
Eric Fink, With Distinction – 5/20/2015
Roman Blum, With Distinction – 5/22/2015
Christopher A. Aiello, With Distinction – 5/23/2015
Damian Albrycht, With Distinction – 5/25/2015
Joshua Bush, With Distinction – 5/26/2015
Michael Hall, With Distinction – 5/28/2015
Mark Lewis, With Distinction – 6/1/2015
Thomas Foley, With Distinction – 6/5/2015
Chris Dodd, With Distinction – 6/7/2015
David Gleitman – 6/7/2015
Michael Begg – 6/8/2015
Bradley Eral, With Distinction – 6/10/2015
Wilford Wong, With Distinction – 6/16/2015
Arvo Hartikainen – 6/17/2015

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Posted in: Certification

Party time is back again… condominium pre-sales are back in fashion with residential buyers. Nothing seems more fortunate for developers than being able to sign sales contracts and take deposits for units in a building that doesn’t yet exist.

Wise developers know that no opportunity comes without risk, though. Let’s take a look at pre-sales — the good and the potentially bad/ugly of selling the dream.

First off, what is a pre-sale?

A pre-sale is when a condominium unit is legally offered for sale on a pre-construction/early stage of construction, price-discounted basis solely off of mouth-watering photo-real renderings, a building scale model, a construction webcam, subject-to-change unit interior finishes specs and floor plans, and a sales center (ideally with a vantage point on the site…sometimes initially a trailer near or on the site).

What opportunities are provided by pre-selling?

  1. Proof of market demand
  2. Initial marketing and sales momentum
  3. Sources of funds for development from non-refundable sales deposits (thus equity player diminished cash investment requirement).

The latter is not available in all jurisdictions or in all cases, but it’s a sweet bonus if it is.  Our condominium development modeling templates (Pro version | Standard version | comparison) allow for up to 100% of pre-sales deposits to be purposed towards development.

What risks does pre-selling introduce?

  1. Selling at too low of a price if market pricing continues to rise
  2. Making representations to pre-sales buyers that you end up breaking, such as changes in unit layouts and in the interior unit finishes schedule
  3. Cannibalization of your regular sales by pre-sales buyers who flip their never-occupied units upon construction completion (this opens up the can of worms of which units you should pre-sell).

I’m sure I’ve missed some important ones. Please add more in the comments below!

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From a potential investor’s perspective, there’s too much noise in the presentation on crowdfunding platforms. It’s too hard to compare offerings. This would be a helpful overview of all current offerings that could be made interactive such that the visitor could click on each one, see a tooltip (caption box) of additional details, and then click for more details.

Thoughts?

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Posted in: Crowdfunding