A valuable tool for the aspiring real estate tycoon.
A concise but comprehensive introduction to finding private capital for real estate investment.
Private capital—money not raised from a bank or financial institution but a private individual—can be far more attractive than its alternatives. The terms of such a loan are likely to be more elastic and susceptible to negotiated revision and therefore easier to customize. Also, a more direct, intimate connection between what debut author Faircloth calls the “Cash Provider” and the “Deal Provider” leads to a more symbiotic relationship between their goals; as the author emphasizes repeatedly, the arrangement between the two ideally is a “win-win” proposition. In this impressively accessible introduction to a complex subject, Faircloth covers every aspect of private funding, presuming little knowledge on the part of the reader, even including a basic understanding of what counts as private capital. He outlines the different types of loans and the various real estate deals for which they can be used, including the ways these deals can be differently structured. Much of this practical instruction manual is devoted to laying bare the technically esoteric—how to unlock the value of private equity, the benefits of self-directed IRAs as a source of funding, or how to successfully find and execute a fix-and-flip. Faircloth also discusses the more human element of sourcing funds to expand a real estate business: the moral obligations one owes to a cash provider, how to build trust in others through constant self-improvement, and the benefits of mentorship. This is a notably thorough synopsis of the subject, specifically addressed to the beginner—the author even provides a prefatory primer on basic accounting and financial terminology. Faircloth is appropriately conservative in his advice, cautioning the reader to make careful preparations—he explains in detail how—before even attempting to strike a first deal. His counsel is not only clear and expert, but also admirably sober. “While some people get lucky out of the gate, this is not a ‘make millions in a month or two and then move to Tahiti’ kind of business.”
A valuable tool for the aspiring real estate tycoon.Pub Date: July 26, 2018
ISBN: 978-1-947200-98-2
Page Count: 180
Publisher: BiggerPockets
Review Posted Online: July 13, 2018
Kirkus Reviews Issue: Aug. 15, 2018
Review Program: Kirkus Indie
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our...
A psychologist and Nobel Prize winner summarizes and synthesizes the recent decades of research on intuition and systematic thinking.
The author of several scholarly texts, Kahneman (Emeritus Psychology and Public Affairs/Princeton Univ.) now offers general readers not just the findings of psychological research but also a better understanding of how research questions arise and how scholars systematically frame and answer them. He begins with the distinction between System 1 and System 2 mental operations, the former referring to quick, automatic thought, the latter to more effortful, overt thinking. We rely heavily, writes, on System 1, resorting to the higher-energy System 2 only when we need or want to. Kahneman continually refers to System 2 as “lazy”: We don’t want to think rigorously about something. The author then explores the nuances of our two-system minds, showing how they perform in various situations. Psychological experiments have repeatedly revealed that our intuitions are generally wrong, that our assessments are based on biases and that our System 1 hates doubt and despises ambiguity. Kahneman largely avoids jargon; when he does use some (“heuristics,” for example), he argues that such terms really ought to join our everyday vocabulary. He reviews many fundamental concepts in psychology and statistics (regression to the mean, the narrative fallacy, the optimistic bias), showing how they relate to his overall concerns about how we think and why we make the decisions that we do. Some of the later chapters (dealing with risk-taking and statistics and probabilities) are denser than others (some readers may resent such demands on System 2!), but the passages that deal with the economic and political implications of the research are gripping.
Striking research showing the immense complexity of ordinary thought and revealing the identities of the gatekeepers in our minds.Pub Date: Nov. 1, 2011
ISBN: 978-0-374-27563-1
Page Count: 512
Publisher: Farrar, Straus and Giroux
Review Posted Online: Sept. 3, 2011
Kirkus Reviews Issue: Sept. 15, 2011
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These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.
A helpful guide to working effectively with people from other cultures.
“The sad truth is that the vast majority of managers who conduct business internationally have little understanding about how culture is impacting their work,” writes Meyer, a professor at INSEAD, an international business school. Yet they face a wider array of work styles than ever before in dealing with clients, suppliers and colleagues from around the world. When is it best to speak or stay quiet? What is the role of the leader in the room? When working with foreign business people, failing to take cultural differences into account can lead to frustration, misunderstanding or worse. Based on research and her experiences teaching cross-cultural behaviors to executive students, the author examines a handful of key areas. Among others, they include communicating (Anglo-Saxons are explicit; Asians communicate implicitly, requiring listeners to read between the lines), developing a sense of trust (Brazilians do it over long lunches), and decision-making (Germans rely on consensus, Americans on one decider). In each area, the author provides a “culture map scale” that positions behaviors in more than 20 countries along a continuum, allowing readers to anticipate the preferences of individuals from a particular country: Do they like direct or indirect negative feedback? Are they rigid or flexible regarding deadlines? Do they favor verbal or written commitments? And so on. Meyer discusses managers who have faced perplexing situations, such as knowledgeable team members who fail to speak up in meetings or Indians who offer a puzzling half-shake, half-nod of the head. Cultural differences—not personality quirks—are the motivating factors behind many behavioral styles. Depending on our cultures, we understand the world in a particular way, find certain arguments persuasive or lacking merit, and consider some ways of making decisions or measuring time natural and others quite strange.
These are not hard and fast rules, but Meyer delivers important reading for those engaged in international business.Pub Date: May 27, 2014
ISBN: 978-1-61039-250-1
Page Count: 288
Publisher: PublicAffairs
Review Posted Online: April 15, 2014
Kirkus Reviews Issue: May 1, 2014
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