By 

Mariusz Skonieczny “Author” (Schaumburg, IL) –

  

This is a top notch book about commercial real estate. It covers topics such as value creation, demand drivers, underwriting, disposition, management, and due diligence. But for me what I liked about this book was the author’s description of the major players such as life insurance companies, foreign investors, REITs, and pension funds. In addition, he describes different objectives that these players have. Individual investors have totally different reasons why they invest in real estate versus institutional players. For example, for years, pension fund managers have been investing mainly in traditional asset classes such as stocks and bonds. Now, with the change in demographics where people are living longer, these managers are looking for financial products that also generate current income with little appreciation. This is where real estate comes in. From my experience, institutional investors are not motivated the same way individuals are. For example, when individual investors sell their properties, they are trying to get top dollar, where institutional investors do not care as much. Their main concern is to look good in front of their bosses, board members, and shareholders. I highly recommend this book to serious real estate investors and professionals.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

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