Realestateisasortoftraditionaloutletforinvestment。Thecurrentrealestateindustryinchinaisjustattheageofaboy。Theexploitationofrealestateisanindustryof论文网highprofitwhichleadstotheinterestsofmanyinvestors。Thecharactersofrealestategreatlyaffectthedecisionsmadebyinvestors。

Ⅰ．Introductionoftheinvestmentofrealestate

⒈Theconceptofrealestateanditscharacter

Realestatecanbedefinedingeneralizedwayornarrowway。Generally,realestatemeanssoilandthebuildingsonitwithitsinfrastructuresandnaturalresourcessuchaswater。Narrowly,realestatemeansthebuildingsonsoilandtherightsinvolvedbythem。Here,wewilltakeaboutrealestatenarrowlythatarepermittedbynationallawstobeinvestedbyindividuals。

Thecharacterofrealestate:

a)Expensive

b)Hardsegment

c)Cannotbemoved

d)Cannotbeadded

e)Cannotbereplaced

f)Maintenance

g)Canbeinvestedandconsumedatthesametime

⒉Thecharacterofinvestmentofrealestate

a)Thedealingofinvestmentofrealestateiscombinedcloselywithrealestate

b)Thelocationandaroundareaandindividualdifferenceofrealestatedeterminethedifferenceofprofitandpricemadebygrade。

c)Themaintenanceofrealestatedeterminesthecredibilityoftheinvestmentofrealestate。

d)Largescaleofinvestmentandlongcycleofexploitation。Theslowturnoveroftheinvestmentofrealestateshouldbeconsidered。

e)Theinvestmentofrealestatekeepsaliveandbringsincrementwiththedevelopmentofsocietyandincreaseofpopulationandincreasingdemandofsoilwhichleadatrendofincreasingpriceofrealestate。

⒊Theadvantageanddisadvantageofinvestmentofrealestate

²Advantages:canbeusedpersonallyandbeinvested;cangetprofitafteralongtime;canoffsetthelossofdevaluation;assecurityfortheloan。

²Disadvantages:illliquidity;takesalotoftimeandenergytomanageafterbeingrated;needsalotoffund;atbigrisk。

Ⅱ．Lackingofliquidityisthemainproblemforinvestorsofrealestate。

⒈Thecharacterofrealestatedeterminesitsillliquidityespeciallyfortheliquidityoffound。

⒉Thereason

Firstly,itiscausedbythehighcostofdealingofinvestment。Alargesumoffoundisneededintheinvestmentofrealestateandcannotbecomereturninashortterm。

Secondly,theprocessofdealingisquitecomplicated。Thecycleofconstructionofrealestatetakesalongtimesometimeslastingforaboutfourorfiveyears,whichleadstoacomplexprocedureduringtheprocessofdealing。

Thirdly,themarketofrealestateisgraded。Thesubsidiarymarketcausesthelakeofinformationforinvestors。thevalueinmarketisdifferentwiththerealvalueofrealestate。Realestatecannotbemovedliketheothercommodities。thedifferenceofmarketcausesalowflowofrealestate。

Fourthly,theinvestmentofrealestatecannotbesegmentedtogainprofitinalongrun。Alittlefactoraffectsthereturnofinvestment。

Finally,housesownedbyinvestorsarerentformoney。Differentpriceofhousesownedbydifferentinvestorsisalwayscausedbythedifferencesoflocation,communication,environment,attachedfacilitiesandstylesofhouse。Theoverexploitationofrealestatemayincreasetherateofleavingunusedemptyhouses,whichslowtheliquidityofthefoundoftheinvestors。

Ⅲ．Asupposedexample

Supposeyouhaveafoundof200,000dollarstoinvestforahouse。Ifyoupay40,000forthefirsttime,andtherest16,000dollarswillbepaidbyloanfrombank。Wouldyoukeeponyourinvestment?

1。Youshouldmakesensewhatyouwillgainasareturn?

Inthecoming6years,ifthehouseyouownedrevaluedto2,802,000dollarsatarateof5。9百分号annually,thatmeansyouhavegainedaprofitof820,000dollars。Itwillbeagooddeal,butitisnotthecase。

Actually,thereisabigproblemofcalculatingwithoutthethinkingofalargesumofcost。

a)Supposethedeadlinefortheloanof16,000is30yearsattherateof16百分号,youhavepaid13,763dollarswiththeprofitof95,763dollars。

b)Atthesametime,youalsopaid55,305asaninterestofloan。Iftheratefortaxis25百分号andtherateofloanequalstheoutlayoftax,thecostofyourinterestaftertaxwouldbe41,419dollars。Subtractthisinterestfromyourprofit,andthenyourprofitofinvestmentwilldecreaseto54,284dollars。

c)Thecostforgainthisprofitismuchhigh。The5百分号formediumdecreaseyourprofitfrom14,100to40,184dollars。

d)Exceptfortheadditionalcostsuchascostsofhouserenovation,insuranceforhouseowners,taxforhouseandprocedureofloan,theprofitofyourinvestmentjustbecamealittle。

Moreover,theabovecalculationdoesnotincludethecostofhousefitment。Comparedwithcost,theprofitissmall。Whencalculatingtheprofitofinvestment,whatyoushouldconsiderisnotonlytherevalueofyourhouse,butthemoneyyousavedforrentasahouseowner。

2。Makesureyourfounddoesnotleaveunused

Ifthismoneyisinshort-termlyyoucan’tusedtotheotherpurposes,soatinvesttorepaythelongercircumstanceinperiodbottomcanstillconsidertheinvestment。Butifyouwanttoacquiretheincomethesolutionacertainandurgentproblemwiththisinvestment,thatmaybecausetherealestateinvestmentflowslacksexuallybutmakeaffairevenworse。

3。Theinvestmentriskeavlaution

Theinvestmenthousepropertyshouldstillnotice:

District,transportation,kitfacilities,houseatype,thesewillaffectthemobilityabilityoftherealestate。

Ⅳ．Thewayofreducingtheillliquidity

⒈AninvestmentfundofRealestate

Bestartedbyprofessionrealestateoperationorganizationandtherealestateindustryinvestmentfundthatmanage,cannotonlymaketheinvestoracquirethehigherinvestmentrateofreturn,butalsocanevadetheriskoftheinvestoravailably,theotherinvestmentwaycan’tcomparetothis,sosocietyalotoffreefundsesispositivetolookfortheopportunityparticipatestherealestatedevelopment。Therealestatemarketisanoperationthatfundshighdegreeisintensively,cansay,havingnothefundsandthenhavenotherealestate。Thedevelopmentinvestmentislarge-scale,theperiodislong,theworthanandexpensiveetc。inrealestatecharacteristicsmakesrealestatedevelopment,investmentthefundsofthedemandmeasurebigness,andimpatientofextendthereproduction,theforthisreasonfundscollectstherealestatedevelopstheproblemthatcompanymostconcern。

⒉Calculatingthesoundinvestmentrepaystheratepreventstheblindness

Investment:Dividedbyinvestorbutspeech,investobjectivecalculatewayinincomeisaccordingtotimedividethelinefor-rentage,incomewithexpendverymuchtheproceedingcalculation。Incomeberentalthatmonththatfor-rentincome,theexpenditureincludesapayment,thebankpressesreturnstyle,repairtheexpenses,herdtheindustryfee,providethefeeof,carafeeandliefeeetc。inside。Stillthereisacost,beyourinvestmentanopportunitycostforinbanklyorproceedingotherinvestmentbringing,ifcalculateintothese,investtorepaytheratepossibilitywouldbemuchlower。Theinvestormustwanttoallconsiderintoabovethesefactorsesatthetimeofcomputingownhouseinvestmentrepayingrate。

Byanylarge,lowertimeininterestrate,thebargaincostoftherealestateislow,inkeepingwithrealestateinvestment;Andinterestratehigherhour,costandexpensestoohigh,causetheherdingindustrynoteasyrentorsell。Theinvestordemandhasthemarketexperiencewiththeabundantprofessionknowledge,loweringtheinvestmentrisk,canningjustgettoexpectofrepay。

Investmentcalculationmethod:

①therentalrepaysrateanalysismethod

Formula:(monthlythinginrental－inmonthinempressintaxlawindustrymanagementfee)×12/purchasethetotalpriceinhouse

②rentalrecoveryperiodanalysismethod

Formula:(themonthinempressintaxlawrental－providesbythemonthofastyle)×12/(aperiodbuildingstyle+periodbuildingtimeinsidebythestyle)

③internalrateofreturnanalysismethod(themethodofIRR)

Formula:IRR=totalincomeintotalamount/totaldevotionintotalamount

3。Makecurrentrealestateflowedtomove,placethenewwayinindustry:

(1)escorttheoldbuyingthenewmovingpress

Dothemortgagewiththeoldbuildingfirst,usedforpurchasingthebridechamberfromthebankloan。Returnafundsforthemethodchoicemovestopress,lendingmoneyfirsttheitemusedsforpurchasingthebridechamber,thenotenoughpartmakesupdeficiencywiththeloan,needingthebridechamberintodroppingtheoldrentafterliving,toingalleviatethenewbuyingthebuildingpressure。

(2)turntopresstolendmoneythewayafresh

Lendmoneyatpresshouseinthe,canpasswaythatturnpressverymuch,obtainthefundsproceedtoplacetheindustry。Likethiscanunderthesituationofonlyhavingfirstsuitestyle,itisrelaxedtoowntwosuitesproduce。

Ⅴ．Conclusions

Therealestateisdifferentfromthestock,mutualfundhasreally,youcan’topenthenewspaperinacertainmorning,discoveringownindustrydepreciating20百分号suddenly。Buttheinformationdischargeoftherealestateissmalltoalsowillbringyoucannot。Housepropertyofworthapossiblemotionveryviolent,andalsopossibilityitofthevaluecomparesyoutoimagineinsideoflittlealotof,butunlessyouarerealtoselloutit,havingnootherwisefromknowitafterallworthhowmuch。Certainly,notalloftherealestateinvestmentisallnotgood。Peopletheinvestmentstockcanenterquicklytooutquicklywiththemutualfund,butifinvestmentrealestate,canedmakeaninstitutionalinvestorfor。

Tosumitup,therealestateisusedasakindofinvestmenttool,themostsuitablematchtheequalfundscanbethepersonofthelong-terminvestment;Haveveryabundantofrealestateinvestmentknowledge,presumetheproceedingthepersonthatshortlineinvestment。

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Darlow,C(1983),ValuationandInvestmentAppraisal,London,EstatesGazette

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Schiller,R(1994),Comment:TheInterfaceBetweenValuationandForecasting“,JournalofPropertyValuationandInvestment,vol12,no4,pp。3-6

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Morley,S(1988),PartnershipSchemesandGroundRentCalculationsinCDarlow,ValuationandDevelopmentAppraisal,London,EstatesGazette

Liquidity is a Major Disadvantage for Real Estate Investors【7字】:http://www.youerw.com/kuaiji/lunwen_124689.html