Instructive real estate lessons from Bugsy
Article Abstract:
The motion picture 'Bugsy,' which focuses on the development of the Flamingo Hotel in Las Vegas, NV, by gangster Benjamin 'Bugsy' Siegel, presents good lessons for the real estate investor. In the movie as in real life, Siegel had the vision to develop the first major hotel-casino in Las Vegas but lost his life when the enterprise went sour financially. The lessons from Siegel are that a successful project relies on thorough pre-planning, effective project management, strict financial controls and strong financial relationships. The success of a real estate project can be improved by the tempering of the entrepreneur's enthusiasm with financial restraint.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1993
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Converting mortgage rates and closing costs to real interest rates
Article Abstract:
Consumers purchasing a home often are unable to ascertain the best financial deal offered by mortgage bankers due to points and closing costs. Consumers shopping for a mortgage need a method for converting the interest rate on mortgages and closing costs into real interest rates as plans with low nominal rates actually may not offer the lowest real rates. An interest rate table that factors in the nominal rate, the points and closing costs to calculate real interest rates for various home mortgage scenarios is presented.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1993
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Balancing the pain and the gain: lender participation in workouts
Article Abstract:
Lenders and borrowers in real estate ventures must consider the prospects of the failure of one party to provide needed funds to make an enterprise work and the failure to reach benchmarks covered by the enterprise's business plan. Workouts of troubled real estate enterprises should allow lenders to keep a degree of control and participate in profits while preserving the lender's lien on the property. The success of a workout will depend on mutual understanding and agreement on the business plan and the budget.
Publication Name: Real Estate Review
Subject: Real estate industry
ISSN: 0034-0790
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
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